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- Bloomberg•7 minutes ago
Global Stocks Extend Declines; Treasuries Slip: Markets Wrap
Treasuries and European sovereign bonds fell. Technology shares led declines in Europe, though the Stoxx Europe 600 Index pared some of the morning’s losses as data showed confidence among German companies unexpectedly improved. The global equity recovery that took benchmarks to a five-month high is
Reuters•8 minutes agoInmarsat to go private in $3.4 billion buyout deal
The consortium includes UK-based Apax Partners, U.S.-based Warburg Pincus and Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers' Pension Plan Board. Inmarsat shareholders will get $7.21 cash, or 546 pence per share. Inmarsat's shares were up 8.5 percent at 549 pence by 0910
- Bloomberg•11 minutes ago
Thaksin Allies Claim Victory in Thai Election, Challenging Army
Pheu Thai led with 138 of 350 constituency seats in an initial tally, followed by the military-backed Palang Pracharath party with 96 seats, according to the Election Commission. “We’ll try to form a government coalition right away because that’s how people voted,” Sudarat Keyuraphan, Pheu Thai’s candidate
Reuters•15 minutes agoExclusive: Coal deal showcases lack of transparency in Ukraine
The sums involved in the deal are small but the Anti-Corruption Action Centre, an independent watchdog, says it illustrates the lack of transparency in Ukrainian business, an issue in a presidential election on Sunday that has cost President Petro Poroshenko support. State-run coal company Volynvuhillia
- Bloomberg•3 minutes ago
German Confidence Jump Brings Relief to Europe's Largest Economy
The euro was up 0.2 percent at 10:21 a.m. Frankfurt time, trading at $1.1319. An improving mood among German businesses suggests Europe’s largest economy may be starting to find its footing after the Bundesbank all but gave up hopes for a turnaround this quarter. “The Ifo index just sent a tentative
- Bloomberg•42 minutes ago
Swift Pushback on Stephen Moore, Trump's Latest Pick for the Fed
“He does not have the intellectual gravitas for this important job,” Greg Mankiw, a Harvard professor who was chairman of the White House Council of Economic Advisers under President George W. Bush, wrote in a blog post on Friday. “It is time for senators to do their job.
- Bloomberg•56 minutes ago
U.S. Stock Index Futures Drop on Global Growth Concerns
Futures contracts on the S&P 500 Index were down 0.3 percent at 04:40 a.m. in New York, after the underlying gauge slumped 1.9 percent on Friday, a casualty of a flattening yield curve and concerns that the global economy was slowing down. Investor sentiment was already hit heading into the last week
Reuters•1 hour agoChina tech firms, seeking passion and energy, promote younger staff
Explicit age discrimination is illegal in many countries, though not in China. Chinese tech companies are known to prefer young workers, in part because of demands such as the so-called "996" schedule that asks employees to work 9 a.m. to 9 p.m., six days a week. On Thursday, Tencent Holdings
- The Canadian Press•1 hour ago
Long-awaited video service expected from Apple on Monday
Apple is expected to announce Monday that it's launching a video service that could compete with Netflix, Amazon and cable TV itself.It's a long-awaited attempt from the iPhone maker, several years after Netflix turned "binge watching" into a worldwide phenomenon.The new video service
- Bloomberg•1 hour ago
Tencent's Biggest Investor Naspers to Spin Off Web Holdings
The South African company will list a business that includes its 31 percent stake in Tencent, worth about $133 billion, as well as holdings in Russian internet platform Mail.Ru, German food delivery business Delivery Hero and Indian e-commerce startup Swiggy on Euronext Amsterdam. The listing is the
- Bloomberg•1 hour ago
Britain’s Inmarsat Satellite Group Going Private in $3.4 Billion Deal
Inmarsat shares rose more than 7 percent. Talks began in late January as Inmarsat faces growing competition from traditional rivals such as ViaSat Inc. and newer challengers including Richard Branson-backed OneWeb and Elon Musk’s SpaceX. London-based Inmarsat has pinned its hopes on the growth prospects
- Bloomberg•1 hour ago
Thai Stocks Fall Less Than Most Peers as Markets Digest Poll
The Palang Pracharath party is now poised to bring junta leader Prayuth Chan-Ocha back as prime minister even as anti-junta parties led by Pheu Thai are also set for substantial lower-house seats. The outcome will prompt a review of exposure to Thai assets as foreign investors have withdrawn in excess
- Bloomberg•1 hour ago
Citigroup Moves Sales Traders to Cover for Ousted Hong Kong Team
Among those moved were Ryan Clendenny, Will Faulkner, Annie Wong, Anthony Levenston and Jensen Feng, according to an internal email sent Sunday by Richard Heyes, Asia-Pacific head of equities. The bank held calls late Friday to reassure clients about the departures, Heyes also said in the email, the
- Bloomberg•2 hours ago
Uber to Seal $3.1 Billion Deal to Buy Careem This Week
The U.S. ride-hailing giant will pay $1.4 billion in cash and $1.7 billion in convertible notes for Careem, the people said, asking not to identified because the talks are private. The notes will be convertible into Uber shares at a price equal to $55 per share, according to the term-sheet seen by Bloomberg
Reuters•2 hours agoSports Direct opposes any Debenhams plan that wipes out equity
British sportswear group Sports Direct said any restructuring option pursued by Debenhams that could result in no equity value for the department store group's shareholders "is not a workable solution". Debenhams said on Friday it was seeking 200 million pounds ($264 million) of additional
Reuters•2 hours agoApple invites Hollywood to Silicon Valley in TV push
Hollywood celebrities are likely to trek to Apple's Cupertino home to greet the debut of a revamped Apple TV digital storefront. Apple has commissioned programming from A-list names such as Jennifer Aniston, Reese Witherspoon, Oprah Winfrey and Steven Spielberg. The Apple original shows are expected
Reuters•2 hours agoOil prices slip amid worries of severe economic slowdown
By Henning Gloystein SINGAPORE (Reuters) - Oil prices slipped on Monday, with concerns of a sharp economic slowdown outweighing supply disruptions from OPEC's production cutbacks and from U.S. sanctions on Iran and Venezuela. Brent crude oil futures were at $66.73 per barrel at 0752 GMT, down 30
- Bloomberg•2 hours ago
Evans Says Fed May Have to Ease If Downside Risks Take Hold
“At the moment, the risks from the downside scenarios loom larger than those from the upside ones,” Evans said in remarks prepared for a speech Monday in Hong Kong. The U.S. central bank’s rate-setting Federal Open Market Committee surprised investors on March 20 by bringing down its projections for
- Bloomberg•2 hours ago
Fed Policy ‘About Right’ After Pivot, Economists Say
37 percent said the Fed was too dovish, while 14 percent said policy makers were too hawkish. The Federal Open Market Committee last week signaled that policy makers are unlikely to raise rates at all this year, compared to the two 2019 hikes officials foresaw in December.
- Bloomberg•2 hours ago
May Faces Endgame as U.K. Leader Is Losing Control of Brexit
Theresa May will face up to her own desperately weak political position on Monday as members of Parliament move to take over Brexit policy and her own ministers plot to oust her. The U.K. prime minister is under pressure from colleagues inside her Cabinet to name a date when she will step down, with
- Bloomberg•2 hours ago
One by One, Global Bond Markets Are Flashing the Same Warning
Yields in Australia and New Zealand dropped to record lows after a closely-watched part of the U.S. curve inverted on Friday as investors wager that the Federal Reserve will need to cut rates. Trading volumes in Treasury future were double the norm during Asian trading, while Japan’s 10-year yields
- The Canadian Press•2 hours ago
Asian shares sink, tracking Friday's retreat on Wall Street
Shares tumbled in Asia on Monday after Wall Street ended last week with a broad retreat, while Thailand's market saw a moderate loss following a general election that appeared likely to keep the incumbent, junta-backed prime minister in power. Japan's Nikkei 225 stock index skidded 3.1 per cent
- Bloomberg•2 hours ago
Oil Extends Losses as Threat of U.S. Recession Damps Sentiment
The number of U.S. rigs dropped for a fifth week, according to data released Friday by Baker Hughes, easing concern over surging U.S. production. “The risk-off sentiment is pressuring commodity prices,” said Kim Kwangrae, a commodities analyst at Samsung Futures Inc. in Soul. West Texas Intermediate
CNBC•2 hours agoExpecting 2 percent growth for the US: Expert
Mark Machin, president of the Canada Pension Plan investment board discusses U.S. growth in 2019.
- Bloomberg•2 hours ago
Thai Military Party Leads Vote, Prayuth Looks Set to Keep Power
Palang Pracharath won 7.7 million votes with 94 percent counted, according to unofficial results posted on the Election Commission’s Facebook page. Pheu Thai, a political party linked to former premier Thaksin Shinawatra, came in second with 7.23 million votes.
