Month: November 2020

(Bloomberg) — Institutional investors are buying Ant Group Co.’s shares at a 50% premium, signaling the Chinese fintech giant is poised to soar in its debut this week following the world’s largest initial public offering.Some trades were executed at HK$120 ($15.50) apiece in gray-market trading Monday, compared with the listing price of HK$80, according to people familiar with the matter who declined to be identified as they aren’t authorized to speak to the media.Billionaire Jack Ma’s Ant IPO has become the most anticipated in years, attracting at least $3 trillion in orders for its dual listing in Hong Kong and …read more […]

(Bloomberg) — Mukesh Ambani, Asia’s richest man, lost almost $7 billion from his net worth as Reliance Industries Ltd.’s shares tumbled the most in over seven months following a drop in quarterly profit.The stock of India’s most-valuable company closed 8.6% lower in Mumbai on Monday, slipping the most since March 23. It was the day’s worst performer on the benchmark S&P BSE Sensex, which rose 0.4%. The slide also shaved down Ambani’s wealth to about $71 billion, according to the Bloomberg Billionaires Index.The refining-to-retail conglomerate reported a 15% decline in quarterly profit to 95.7 billion rupees ($1.3 billion) late on …read more […]

Nov.02 — Bridgewater Associates founder Ray Dalio discusses the differences in policy approach to China between President Donald Trump and Democratic nominee Joe Biden. He shared his insights during an exclusive interview with Bloomberg’s David Ingles at the Hong Kong FinTech Week. …read more […]

On the last Sunday before Election Day, Joe Biden homed in on Pennsylvania, while President Trump hit five battleground states including Florida and Georgia. A caravan of Trump supporters slowed traffic in New York City. Photos: Drew Angerer/Getty Images; Joe Raedle/Getty Images …read more […]

It looks like Intel Corporation (NASDAQ:INTC) is about to go ex-dividend in the next 2 days. You will need to purchase… …read more […]

Nov.02 — Supporters of President Donald Trump chanted “Fire Fauci” at a rally in Florida early this morning, the latest development in Trump’s ongoing critique of Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, who was once a prominent figure in Trump’s coronavirus response but who has since been marginalized. “Don’t tell anybody, but let me wait until a little bit after the election,” Trump told the crowd in Opa-Locka. …read more […]

Nov.02 — Large swathes of Europe enter lockdown this week, with a winter peak threatening to be even worse than the initial wave of coronavirus cases in the spring. Chad Thomas reports on “Bloomberg Markets: European Open.” …read more […]

Mall operators in the U.S. have been strapped for cash amid the pandemic as people have stayed indoors and resorted to online shopping. Retailers, including J.C. Penney Co Inc, one of CBL’s biggest renter, already grappling with customers’ abandonment of traditional stores for online shopping have also resorted to bankruptcy filings. CBL’s filing follows that of Pennsylvania Real Estate Investment Trust earlier on Sunday, which filed a chapter 11 petition to execute a prepackaged financial restructuring plan. …read more […]

Russian drugmaker Pharmasyntez has asked the Kremlin for permission to produce a generic version of U.S. firm Gilead Sciences’s COVID-19 treatment remdesivir without а patent, the Vedomosti newspaper reported on Monday. Siberia-based Pharmasyntez previously approached Gilead requesting a voluntary licence to produce and distribute the drug in Russia, the company’s director, Vikram Punia, had told Reuters this year. Pharmasyntez did not immediately respond to a request for comment. …read more […]

(Bloomberg) — Supply Lines is a daily newsletter that tracks Covid-19’s impact on trade. Sign up here, and subscribe to our Covid-19 podcast for the latest news and analysis on the pandemic.Australia says Chinese customs officers are delaying imports of some premium shellfish products, in a sign its rock lobster industry could be the latest casualty of growing tensions between Canberra and Beijing.Some Australian lobster shipments have experienced customs clearance delays in the past few days due to increased import inspections in China, the Seafood Trade Advisory Group said in a statement. Most exporters have decided to halt shipments to …read more […]

The airline expects losses to continue increasing after 80% fewer people flew with the airline. …read more […]

It’s the final trading day of October 2020 and stocks are feeling the heat as investors are seeing the major averages about to post their worst week since March 20. …read more […]

Before the bell, US futures are back in the red after rebounding yesterday as investors were encouraged to see more signs in U.S. economic recovery. …read more […]

(Bloomberg) — In a world where sugar has attracted increasing scrutiny for its impact on health and obesity, there are moves afoot in the biggest consuming country to persuade people to eat more of the sweetener.Mills in India are eyeing increased consumption as a way to cut the nation’s chronic oversupply, which stems partly from the favorable incentives provided to growers in politically powerful rural areas. High production costs mean the country finds it hard to sell sugar on the global market without subsidies.To push forward their initiative, the mills have begun an online campaign to boost domestic demand, involving …read more […]

(Bloomberg) — Speculative investors increased bullish wagers on U.S. stocks to the highest level in almost two years after a selloff in the S&P 500 index.Net long positions in S&P 500 e-mini futures in the week to Oct. 27 were the most since January 2019, Commodity Futures Trading Commission data show.The more optimistic stance followed a slide in the S&P 500 from its September record on risks such as surging virus cases and stalled U.S. fiscal stimulus talks. The gauge fell again last week, dropping 5.6% ahead of the presidential election Tuesday amid lingering concerns of a drawn-out or contested …read more […]