Year: 2020

There wouldn’t be many who think Oracle Corporation’s (NYSE:ORCL) price-to-earnings (or “P/E”) ratio of 18.3x is worth… …read more […]

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Top news and what to watch in the markets on Monday, August 31, 2020. …read more […]

Aug.31 — Nigel Verdon, chief executive officer at Railsbank Technology, discusses the assets the company is purchasing from Wirecard U.K. and the advantage of the technology they’ve acquired. He speaks on “Bloomberg Markets: European Open.” …read more […]

Aug.31 — Hybrid and electric car registrations soared in Europe last month. They grabbed a record share of the autos market overall and have lifted sales to the highest in 10 months. Plug-in hybrid sales have more than quadrupled while battery electric vehicles more than doubled according to auto market researcher Jato Dynamics. Bloomberg’s Tara Patel reports on “Bloomberg Markets: European Open.” …read more […]

(Bloomberg) — Germany’s blame game over Wirecard AG’s collapse is focusing in on the question of why authorities failed to take a harder look at the payments company before it became the country’s biggest accounting scandal in living memory.Lawmakers will question a top adviser to Chancellor Angela Merkel on Monday in Berlin before grilling financial industry watchdogs the following day as the fraud that burned investors engulfs the country’s political establishment. If the hearings go badly, parliament may start a deeper investigation as the country prepares for the post-Merkel era in an election next year.Wirecard’s crash from rising star to …read more […]

(Bloomberg) — Nestle SA agreed to buy Aimmune Therapeutics Inc. in a $2.6 billion deal, adding a leader in the treatment of peanut allergies in its biggest health-science push yet.The Swiss owner of Nespresso will pay $34.50 a share for the U.S. biotech firm, almost triple its market value. Aimmune makes Palforzia, the first regulatory-approved treatment to help reduce allergic reactions to peanuts in children and teens in the U.S.Chief Executive Officer Mark Schneider has been cultivating Nestle’s health-science arm while shedding slower-growing businesses in areas such as bottled water and sweets. Palforzia, which exposes patients to small doses of …read more […]

Aug.31 — Japan’s ruling party is set to decide the process for picking a new prime minister tomorrow after long-serving leader Shinzo Abe resigned for health reasons on Friday. Local reports put Abe’s right-hand man as the favorite for the top job. Bloomberg’s Stephen Engle reports on “Bloomberg Daybreak: Europe.” …read more […]

Aug.31 — Stephen Chang, portfolio manager for Asia at Pacific Investment Management Co., discusses the opportunities he sees in regional credit markets, the dollar’s fall and its implications for emerging markets. He speaks with Rishaad Salamat on “Bloomberg Markets: Asia.” …read more […]

Nestle said on Thursday it was offering $34.50 per share for the remaining 74.4% in peanut allergy treatment maker Aimmune Therapeutics it does not already own as it adds what it hopes will be a lucrative treatment to its portfolio. The offer values the California-based biopharmaceutical company at $2.6 billion, including the $473 million that Nestle had already invested in Aimmune, Nestle said in a statement. The price represents a 174% premium to Aimmune’s closing share price on August 28 of $12.60, said the food giant, which has been gearing its traditional portfolio towards health and wellness products. …read more […]

As the final trading session of the week prepares to kick off, US stocks are turning to more data releases to see if the market rally can continue. …read more […]

(Bloomberg) — Zhang Yiming’s plan to sell the U.S. operations of his short-video app TikTok to avoid a shutdown was thrown into jeopardy after China asserted its authority over a deal already under scrutiny by the Trump administration.Beijing on Friday injected more uncertainty into already thorny negotiations over the sale of ByteDance Ltd.’s prized asset, claiming the ability to block a sale to foreign suitors Microsoft Corp. or Oracle Corp. with tighter restrictions on artificial intelligence exports. The commerce ministry added speech and text recognition and personalized recommendations to a list of products that require approval before they’re sold abroad.These …read more […]

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Aug.30 — Eisuke Sakakibara, Japan’s former top currency official known as “Mr. Yen,” talks about Abenomics, which are the policies of the country’s outgoing prime minister, and who he expects to become Shinzo Abe’s successor. Sakakibara speaks with Rishaad Salamat and Yvonne Man on “Bloomberg Markets: Asia.” …read more […]

Mainland Chinese investors are scouring Hong Kong’s commercial property market for bargains after prices plunged 30%, signalling a new wave of demand following anti-government protests last year that kept a lid on investment activity. Property agents expect the influx of Chinese capital, which has helped Hong Kong become one of the world’s most expensive property markets, can once again prop up the sector as China recovers from the COVID-19 pandemic and stands ready to deploy liquidity. “A majority of recent large-value building deals were bought by Chinese investors; their number has really grown in the third quarter,” said …read more […]