By Nichola Saminather | SINGAPORE SINGAPORE The dollar extended its overnight gains in early Asian trade on Friday on signs of strong U.S. economic growth, while the euro inched up after sliding overnight on data suggesting slowing growth in Europe. Stock markets in Asia were off a bit despite solid gains on Wall Street as investors awaited China’s official manufacturing purchasing managers index data for March. The […]
By Gayathree Ganesan and Sruthi Ramakrishnan The steep drop in Lululemon Athletica’s (LULU.O) stock price, following a sales warning that resulted from poor color choices in the company’s spring collection, turns the spotlight on slowing growth in the athleisure category pioneered by the Canadian yogawear retailer. Shares of rivals Nike Inc (NKE.N) and Under Armour (UAA.N) also were down on Thursday, raising questions of whether athletic leisure […]
Speed was once a ticket to riches in financial markets. Now it’s the bare minimum. Electronic trading groups that made fortunes by being first to pounce on favourable prices are finding it tougher to stay ahead in markets where transactions unfold in billionths of a second. Their costs have risen at the same time that volatility and volumes — essential elements for profitable trading — have ebbed. As a […]
Elevate, one of the biggest subprime lenders in the US, is reviving plans to go public, seeking to cash in on a big lift in sentiment since the election victory of Donald Trump. Financial stocks have rallied hard since November 8, with big banks such as Bank of America rising as much as 50 per cent on hopes of fatter lending margins, lower taxes and lighter regulation. […]
The sleep revolution is not going to stop at the U.S. border. Now a few months out from its November debut, Arianna Huffington’s wellness startup, Thrive Global, is hiring additional journalists and preparing to expand to Italy, India and Eastern Europe. The expansions, joint ventures with Gruppo Espresso, The Times of India and The Antenna Group, respectively, fit into a strategy to “chronicle the culture shift around […]
TOKYO Asian shares edged up to near their highest in two years on Thursday, while the dollar benefited from waning expectations that the European Central Bank was poised to end its easy policy. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was 0.2 percent higher in early trade, pushing against its loftiest levels since June 2015. Japan’s Nikkei stock index .N225 was down 0.2 percent, while […]
Hedge fund managers may be criticised for their recent returns but they have consistently displayed a razor sharp sense of timing when it comes to picking when to sell their own businesses. When Och-Ziff, the New York-based hedge fund founded by the former Goldman Sachs trader Daniel Och, decided to sell equity to the public markets it did so near the top of the market in late […]
By Caroline Valetkevitch | NEW YORK NEW YORK A U.S. stock rally fueled by optimism President Donald Trump will boost the economy may be near its peak, according to a Reuters poll of strategists who forecast U.S. shares will gain less than 3 percent between now and year-end. The run up since the Nov. 8 U.S. election has left the S&P 500 .SPX at levels many consider […]
When Charles Li was asked last week about the recent wild gyrations of some stocks in Hong Kong, the head of the Hong Kong Exchange compared the market to a city that is reasonably well-run but has “a few dark alleys and little corners”. “We all need to relax,” he added. “This is a great market. You don’t want the regulator to solve all your problems.” Investors […]
A mega-merger of the two biggest banks in the UAE should leave the combined company with a larger representation on the benchmark emerging-market index, triggering hundreds of millions of dollars of inflows to the stock, according to calculations by EFG-Hermes strategists. Thursday marks the last day of trading in First Gulf Bank before its combination with National Bank of Abu Dhabi in a deal that creates the […]
Skippy phone home.Image: Bradley Kanaris/Getty Images By Johnny Lieu2017-03-29 04:34:18 UTC Kangaroos are typically found roaming Australia, where their biggest problems are the occasional boxing match, cars and angry farmers. No wonder then that people were stunned to see the unusual marsupial on a leash, running a man down the street in the suburbs of Detroit. Footage of the bizarre sight was shared on Twitter Tuesday. Authorities […]
Chinese social media company Tencent has purchased a 5 percent stake in Tesla for $1.78 billion, providing a boost to the company as it prepares for the launch of the Model 3 mass-market electric vehicle. The shares of Tesla increased by 2.7 percent to $277.45 upon the announcement of Tencent’s investment, with the company now close to overthrowing Ford as the second most valuable automobile company in the […]
SYDNEY Asian shares inched ahead on Wednesday while the dollar and commodities rallied as investors shook off disappointment about U.S. President Donald Trump’s failed healthcare bill and focused on an improving outlook for global growth. The cheerful mood did not extend to the pound which was on the skids as the British government sent a letter to Brussels formally starting the country’s exit from the European Union. […]
By Valerie Volcovici and Jeff Mason | WASHINGTON WASHINGTON President Donald Trump on Tuesday signed an order to undo Obama-era regulations to curb climate change, keeping a campaign promise to support the coal industry while calling into question U.S. support for an international deal to fight global warming. Flanked by coal miners, Trump enacted his “Energy Independence” executive order at the Environmental Protection Agency. A coalition of […]
Tencent Holdings has forked out US$1.78 billion for a 5 percent stake in Tesla, according to a document filed with the US Securities and Exchange Commission (SEC). The announcement came days after the US electric car maker said it was looking to raise funds to scale its business and bring to market its US$35,000-priced Model 3. The company said it expected to secure more than US$1 billion […]
Index provider FTSE Russell is to consult with stakeholders about including Snap in its widely followed Russell indices, amid investor worries about lack of shareholder rights at the newly listed messaging app provider. The consultation, to be officially launched in the coming days, is the latest sign of growing interest among “passive” fund managers in the corporate governance of the companies their index-tracking model obliges them to […]
Tuesday 08:45 GMT What you need to know ● Markets recovering their poise after “Trump trade” wobble● S&P 500 futures higher and helping European to open on the front foot ● Energy stocks underpinning bourses as oil prices gain ground● Dollar steadies after sliding to four-month lows, Treasury yields nudge up● Gold prices ease back as haven flows dwindle——————- Hot topic Investors are rediscovering their risk appetite […]
The bagpiper striding across the bottle label wears flowing green tartan, a luxuriant black moustache — and a red turban. Bagpiper whisky, distilled by Diageo through its United Spirits subsidiary in India, is one of India’s most popular brands, available even in a tetra pak. But at Rs300 ($4.50) for a 750ml bottle, it is not a brand that will power a rapid return on Diageo’s £1.9bn […]
SEOUL South Korea’s family-run conglomerates are facing calls for a shakeup in their governance from a leading candidate in May’s presidential election, following the ouster of former President Park Geun-hye in a burgeoning influence-peddling scandal. The conglomerates known as chaebol have come under the reform buzz saw before, only to emerge bigger and stronger than ever. The country’s four biggest chaebol groups account for around half the […]
By Noel Randewich and Rishika Sadam Shares of Snap Inc jumped nearly 5 percent on Monday after several of the Snapchat owner’s IPO underwriters handed it badly needed “buy” ratings. Snap’s listing on March 1 was the largest by a technology firm in three years but trading has been volatile, with many investors critical of decelerating user growth. Snap has warned it may never become profitable. Analysts […]
Colombia-based airline Avianca filed a counter lawsuit in New York on Monday in the latest round of a no-holds-barred legal battle between two Latin American tycoons over the strategic control of one of the region’s biggest carriers and its mooted alliance with United Airlines. Avianca and Gérman Efromovich, the carrier’s biggest shareholder, accused Kingsland Holdings, its second-biggest shareholder, of leaking boardroom secrets in an attempt to obstruct […]
Vocus Communications has announced selling its 16 percent stake in Macquarie Telecom, offloading 3,358,511 MAQ shares at a price of AU$12.20 per share for a total of around AU$41 million. Vocus sold 100 percent of its interest in Macquarie Telecom to both institutional and retail shareholders via a block trade, it announced to the Australian Securities Exchange on Tuesday morning. According to Macquarie Telecom, the sale of […]
Viacom, the owner of Nickelodeon and MTV, has turned to former Fox film chief Jim Gianopulos to revive its ailing Paramount Pictures division, hoping that he can restore the studio behind The Godfather, Saturday Night Fever and Top Gun to its former glory. Mr Gianopulos released Avatar, the biggest box office hit ever produced by Fox, as well as Deadpool, the X-Men series and The Grand Budapest […]
By Mfuneko Toyana and Sujata Rao | JOHANNESBURG/LONDON JOHANNESBURG/LONDON South African President Jacob Zuma asked Finance Minister Pravin Gordhan on Monday to return home “immediately” from an investor roadshow abroad, reviving talk of a cabinet reshuffle and unnerving investors who see Gordhan as an emblem of stability. The rand fell more than 3 percent against the dollar, its biggest one day fall since Nov. 10, South African […]
