Month: March 2020

No Picture
Trading Ideas

Global Rout Threatens to End China’s Leverage-Loving Stock Binge

March 9, 2020 admin Comments Off on Global Rout Threatens to End China’s Leverage-Loving Stock Binge

(Bloomberg) — The recent buoyancy in the world’s second-largest stock market in China was under threat Monday after oil plunged and U.S. index futures tumbled.A gauge of stocks in Shanghai and Shenzhen fell 3.4%, finishing near the day’s low, while selling by foreigners hit a record 14.3 billion yuan ($2.1 billion). An index of Chinese shares traded in Hong Kong dropped as much as 4.6%, which would be its biggest loss on a closing basis in two years. China National Offshore Oil Corp. slumped 16%, on track for its worst day on record.China’s CSI 300 Index touched a two-year high …read more […]

No Picture
Business News

Exclusive: U.S., Canada, European nations meet to discuss concern over Mexico energy policy

March 9, 2020 admin Comments Off on Exclusive: U.S., Canada, European nations meet to discuss concern over Mexico energy policy

The United States, the European Union, Canada and six European nations have held joint talks on concerns over Mexico’s energy policy, sources told Reuters, as President Andres Manuel Lopez Obrador pushes for a bigger role for the state in the sector.

…read more […]

No Picture
Trading Ideas

Fried Chicken King of Asia Loses $2.9 Billion on U.S. Gamble

March 9, 2020 admin Comments Off on Fried Chicken King of Asia Loses $2.9 Billion on U.S. Gamble

(Bloomberg) — If 2019 was a bad year for Tony Tan Caktiong, the Philippine tycoon who built a fast-food empire that trounced McDonald’s in his home market, 2020 is shaping out to be worse for his company’s stock.After wooing millions of Filipinos for decades with its signature fried chicken, Tan’s Jollibee Foods Corp. set out on an expansion in the U.S., spending $540 million buying Smashburger and Coffee Bean & Tea Leaf Co. Even as the two money-losing chains turn out to be a drag on earnings, the coronavirus outbreak is now threatening to hit its sales.Fueled by concerns the …read more […]

No Picture
Business News

Airport passenger traffic in Asia-Pacific set to plunge 24% in first quarter – industry group

March 9, 2020 admin Comments Off on Airport passenger traffic in Asia-Pacific set to plunge 24% in first quarter – industry group

Airport passenger traffic in the Asia-Pacific region is expected to take a 24% hit in the first quarter from the coronavirus, leading to a $3 billion decline in airport revenue and placing pressure on growth projects, an industry group said on Monday.

…read more […]