Year: 2020

(Bloomberg) — Google and Temasek Holdings Pte have agreed to invest about $350 million in PT Tokopedia, people familiar with the matter said, a major cash infusion that will bankroll the Indonesian online mall’s post-Covid-19 expansion.The Alphabet Inc. unit and Singapore’s state investment firm could sign an agreement for the funding soon, the people said, asking not to be identified discussing the deal before it’s formally concluded. The financing falls short of the initial goal of between $500 million to $1 billion that Bloomberg News reported in July, though Tokopedia may still be looking for more investors.Tokopedia, the online marketplace …read more […]

Oct.25 — Former Australian Foreign Minister Bob Carr discusses how the U.S. presidential election outcome might affect his country. Carr, who is now professor of the University of Technology Sydney, speaks with Paul Allen and Kathleen Hays on “Bloomberg Daybreak: Australia.” …read more […]

(Bloomberg) — Ant Group Co. has set the price for its initial public offering in Shanghai, paving the way for a blockbuster sale that may give the Chinese fintech giant a valuation higher than JPMorgan Chase & Co.Billionaire founder Jack Ma, speaking at a weekend conference, said Ant has determined the IPO price, though he didn’t disclose the amount. Pricing details for the China shares are expected by Tuesday, with the Hong Kong price to be announced as soon as Oct. 29, people familiar with the matter have said.“This was the first time such a big listing, the largest in …read more […]

Oct.25 — Pessimism is mounting again over a pre-election stimulus bill in Washington. House Speaker Nancy Pelosi and White House Chief of Staff Mark Meadows are accusing each other of moving the goal posts. Bloomberg’s Derek Wallbank reports on “Bloomberg Markets: China Open.” …read more […]

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Oct.25 — Anti-government protests are escalating in Thailand after Prime Minister Prayuth Chan-Ocha ignored demands to quit. Lawmakers are set to meet today to address some of the activists’ demands. Bloomberg’s Randy Thanthong-Knight reports on “Bloomberg Daybreak: Asia.” …read more […]

Oct.25 — There are voters who do not know who to trust in this election, says Rokk Solutions Partner Kristen Hawn. She also says the Trump-Biden race is closer than polls indicate. She spoke to Kathleen Hays and Paul Allen on “Bloomberg Daybreak: Asia.” …read more […]

(Bloomberg) — Oil extended its slide to a second day on a toxic cocktail of surging coronavirus cases in the U.S. and Europe, dwindling prospects for pre-election stimulus in Washington and a steady resumption of supply from Libya.Futures in New York fell toward $39 a barrel after dropping 1.9% on Friday. The U.S. reported record infections for a second straight day, while Italy approved a partial lockdown and Spain announced a national curfew. Democrats and Republicans accused each other of “moving the goalposts” in interviews on CNN as hopes for a deal before next week’s election appeared to be in …read more […]

Four years on from BHS’s collapse, has the audit industry, criticised for not spotting problems, changed? …read more […]

David Andre and Astro Teller’s Cerebellum Capital is a fascinating hedge fund to track given the massive portfolio turnover it undertakes every quarter. The fund, which was founded in April 2017 and is currently being run by CEO Conrad Gann, uses advanced machine learning that can autonomously discover and implement its own strategies, helping the […] …read more […]

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Oct.25 — As China’s economy emerges from the coronavirus, Xi Jinping’s government is putting forward a new growth model based on economic self-reliance. The so-called “dual circulation” strategy is expected to shape the country’s next five-year plan. Bloomberg Markets anchor Tom Mackenzie explains. …read more […]

The Past Week, In A Nutshell What Happened: Last week ended negative alongside mixed messaging on stimulus.Remember This: “Markets have come a long way since the March lows, but we believe there may be more room for stocks to run,” said Jeff Buchbinder, Equity Strategist for LPL Financial.”Given the impressive economic recovery to date and improving underlying technical and fundamental conditions, we think small cap stocks in particular may have attractive growth potential. Despite election and COVID-19-related risks, we see further gains ahead.”View more earnings on SPYPictured: Profile chart of the Micro E-mini S&P 500 FuturesTechnical Broad-market equity indices ended …read more […]

(Bloomberg) — U.S. equity futures started the week on the back foot as a stimulus deal remained elusive and coronavirus infections hit a record for a second day. Asia stocks looked set for a muted open.S&P 500 contracts retreated while those in Japan and Australia were little changed. U.S. House Speaker Nancy Pelosi and the White House traded blame for the latest stall in negotiations on a new stimulus package as chances faded of a resolution before next week’s election. The pound ticked higher after trade talks between the U.K. and the European Union were extended to Oct. 28. Hong …read more […]

Journal Editorial Report: The week’s best and worst from Kim Strassel, Bill McGurn and Dan Henninger. Images: Zuma Press/Shelby Steele/Getty Images Composite: Mark Kelly …read more […]