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 […]
Want to beat Warren Buffett’s investment returns? Don’t want to spend a lot of time working at it? Bloomberg’s macro strategist Cameron Crise has just the investment process for you… Last week I wrote about a simple model that is surprisingly effective at profiting from the rebalancing tendencies of passive investors. This in turn brought to mind another well-known instance of behavioral herding that has led to […]
March 27, 2017 by: Roger Blitz in London and Eric Platt and Robin Wigglesworth in New York Financial markets shuddered on Monday as investors absorbed the collapse of US healthcare reform last week, with some fearing pro-growth policies like tax reform could be stymied by government inaction and a Republican party in disarray. Global stocks retreated, US banks slid into correction and the dollar index fell to […]
Barclays Bank on Monday launched the first exchange traded fund in east Africa when it listed the Barclays NewGold ETF on the Nairobi stock exchange. The product is a cross-listing of the $1.4bn NewGold ETF that sits on the Johannesburg Stock Exchange in 2004 and is also publicly traded on five other African markets. Its initial size in Kenya will be Ks500m ($4.8m) with capacity for expanding […]
By John O’Donnell | FRANKFURT FRANKFURT London has seen its standing as a financial center slip as Britain prepares to trigger its departure from the European Union, according to a survey released on Monday, although rival European cities still lag far behind. The Z/Yen global financial centers index (GFCI), which ranks 88 financial centers, still puts London in first place, followed by New York and three cities […]
The US stock market’s shifting reaction to the inability of Donald Trump and the House of Representatives to repeal Obamacare belies the much bigger question the failure raises for Wall Street: can this administration steer corporate tax cuts through Congress? This matters because the expectation that American companies will enjoy smaller tax bills has helped fan a 10 per cent gain for the S&P 500 since the […]
By Jessica Toonkel and Jennifer Ablan U.S. equity index futures fell to a six-week low on Sunday in a sign Wall Street would start the week defensively after Republicans pulled legislation to overhaul the U.S. healthcare system in a stunning setback for President Donald Trump. S&P 500 e-mini futures ESv1 were down over 0.65 percent, shortly after electronic trading resumed on Sunday evening. Volume of more than […]
Shares of Viacom Inc (VIAB.O) could rise 40 percent in the next year as the New York-based media company’s new CEO Bob Bakish focuses on its Paramount Pictures studio and a handful of its networks to turn the business around, according to Barron’s. Viacom, which is controlled by 93 year-old media mogul Sumner Redstone and his daughter Shari Redstone, has been enmeshed in turmoil, which resulted in […]
SHANGHAI China Southern Airlines (600029.SS)(1055.HK)(ZNH.N) is negotiating a potential strategic tie-up with American Airlines (AAL.O) that could involve a share issue and other forms of business cooperation, it said on Sunday. A stock exchange filing from China’s largest carrier by passenger numbers said the proposed cooperation is subject to approval by shareholders and government authorities and no binding agreement has yet been made. The company’s U.S.-listed shares […]
After a week dominated by questions over whether Donald Trump will be able to push his economic agenda through Congress, here are the questions FT markets reporters are asking in the final trading week of March. Will investors keep faith in Trump’s ability to drive tax cuts? That is the question facing equity markets after the White House failed to muster the support needed in the House […]
25 March 2017 Abu Dhabi, UAE – Etihad Airways is reassuring passengers of its highest level of service to minimise disruption following the introduction of a new US travel directive on electronic devices. Effective March 25, passengers on all US-bound flights from, or transiting through, Abu Dhabi International Airport will not be permitted to carry electronic devices bigger than a smart phone or mobile into the aircraft […]
The SEC filing also said Diamond S Shipping vessels aren’t necessarily prohibited from calling in locales where sanctions and embargoes apply. In the filing, the company said it believed it was in compliance with all applicable sanctions, embargoes, laws and regulations. In a statement to the Center for Public Integrity, the company said its “charter agreements expressly require compliance with all applicable laws, specifically prohibit trading in […]
US stocks suffered their worst weekly performance since the November election after Donald Trump failed to rally support for his healthcare plan, raising the pressure on the US president as he pursues the rest of his agenda. After trading up for most of the session on Friday, the S&P 500 sold off as it became clear the alternative to Barack Obama’s Affordable Care Act lacked the votes […]
By Jeff Mason and Ethan Lou | WASHINGTON/CALGARY WASHINGTON/CALGARY U.S. President Donald Trump’s administration approved TransCanada Corp’s Keystone XL pipeline on Friday, cheering the oil industry and angering environmentalists even as further hurdles for the controversial project loom. The approval reverses a decision by former President Barack Obama to reject the project, but the company still needs to win financing, acquire local permits, and fend off likely […]
Shares in one of China’s largest dairy groups plunged more than 90 per cent on the Hong Kong stock exchange on Friday, knocking $4.1bn from its market capitalisation. China Huishan Dairy Holdings was granted a trading suspension after its shares saw one of the biggest drops in the exchange’s history, cutting its market capitalisation from $4.85bn to $750m and likely causing paper losses for investors including BlackRock and Vanguard. Hong Kong’s bourse […]
The Abu Dhabi Festival reached another milestone on Thursday. The annual arts event, now in its 14th edition, has expanded to include NYU Abu Dhabi’s Arts Centre as a venue for its main concert programme. The Red Theatre’s earthy interior and pristine acoustics were apt accompaniments for the Abu Dhabi return of the virtuoso guitarist Tomatito. With a two-hour programme of mostly instrumentals, Tomatito’s set list was […]
Chinese oil companies are turning their focus to overseas retail and services markets, as slowing growth in domestic fuel demand makes their traditional home market less attractive. Sinopec this week agreed to buy Chevron’s 75 per cent stake in a Cape Town refinery, affiliated service stations and convenience stores in South Africa and Botswana for $900m. It was the only remaining bidder after a year-long tender process. […]
Done betting, Alibaba is getting down to work in Southeast Asia as it bids to lead the region’s promising e-commerce space and maximize its early mover advantage over Amazon. Alibaba became the first major international player to enter Southeast Asia, a region with more than 600 million cumulative consumers, when it bought a majority stake in Lazada, the Rocket Internet-backed venture, nearly one year ago. Amazon, Alibaba’s key foe in India, is […]
Breaking news. (photo credit:JPOST STAFF) MANILA – Philippine President Rodrigo Duterte hit out at the European Union on Friday for hypocrisy and called the bloc “sons of bitches” after its lawmakers issued a resolution calling for restraint and a rethink in his bloody war on drugs. Duterte castigated the EU for urging him to focus his campaign on drugs rehabilitation and stood by his security-centered […]
The wheels on America’s tech IPO train continue to turn. Enterprise data analytics firm Alteryx, the next tech firm in line to go public, has priced its shares at $14 ahead of its listing on the New York Stock Exchange tomorrow (Friday). That pricing — which comes in at the top of the firm’s range — will see Alteryx, which is listing under AYX symbol, raise $126 million from the nine […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices edged up on Friday, supported by a fall in Saudi exports to the United States, but overall markets remained under pressure on the back of a world market awash with fuel. Prices for front-month Brent crude futures LCOc1, the international benchmark for oil, were at $50.63 per barrel at 0343 GMT, up 7 cents from their last close. In […]
The pound turned in the best performance among major currencies on Thursday, gearing up for next week’s Article 50 activation by rallying to its highest level for a month following buoyant retail data. Having momentarily regained the $1.25 level on Wednesday, sterling climbed a third of a per cent against the dollar after a 3.7 per cent rise in February retail sales, well above analysts’ forecasts. Sterling […]
By Lisa Richwine | LOS ANGELES LOS ANGELES Walt Disney Co (DIS.N) said on Thursday its board extended Chairman and Chief Executive Officer Bob Iger’s term by a year to July 2, 2019 and said he would serve as a consultant to the media giant for three years after that. This is the third time Iger’s contract has been extended. Iger first said he would retire in […]
When Flavio Evers Cassou, an employee of the world’s biggest meatpacker, JBS, dropped off a large cooler of meat at a friend’s home last year in southern Brazil, he could not have foreseen the crisis of confidence it would cause in the industry and the country’s wider corporate sector. The friend in question happened to be Maria do Rocio Nascimento, the chief inspector of products of animal […]
