Business News
LafargeHolcim’s deal to sell Philippines business collapses
LafargeHolcim’s deal to sell its Philippines business, valued at $2.15 billion, has failed after the country’s competition authority did not give approval in time.
Articles by admin
Trading Ideas
Tribeca Investment Seeing a Lot of Opportunities, Liu Says
May.11 — Jun Bei Liu, portfolio manager at Tribeca Investment Partners, looks at how the coronavirus outbreak is affecting the global economy and stock markets, and shares her investment strategy. Federal Reserve Bank of Minneapolis President Neel Kashkari said Americans should brace for even more gut-wrenching news on unemployment amid the coronavirus pandemic. Liu speaks with Rishaad Salamat and Selina Wang on “Bloomberg Markets: Asia.” …read more […]
Business News
As U.S. meat workers fall sick and supplies dwindle, exports to China soar
U.S. President Donald Trump ordered meat processing plants to stay open to protect the nation’s food supply even as workers got sick and died. Yet the plants have increasingly been exporting to China while U.S. consumers face shortages, a Reuters analysis of government data showed.
Trading Ideas
As U.S. meat workers fall sick and supplies dwindle, exports to China soar
U.S. President Donald Trump ordered meat processing plants to stay open to protect the nation’s food supply even as workers got sick and died. Trump, who is in an acrimonious public dispute with Beijing over its handling of the coronavirus outbreak, invoked the 1950 Defense Production Act on April 28 to keep plants open. Now he is facing criticism from some lawmakers, consumers and plant employees for putting workers at risk in part to help ensure China’s meat supply. …read more […]
Trading Ideas
Shanghai Disneyland reopens after coronavirus shutdown
The Walt Disney Company has reopened its biggest Asia resort after a four-month shutdown, as Shanghai’s health authorities eased restrictions on public gatherings after getting the coronavirus outbreak in the megacity of 24 million people under control.
For more context: https://www.scmp.com/business/companies/article/3083743/disney-reopens-its-biggest-asia-resort-one-third-capacity …read more […]
Business News
For central banks, hope for precision fades amid pandemic uncertainty
Central bankers who have spent a generation researching how their words influence the economy and honing the craft of “forward guidance” are now effectively tongue-tied by a health crisis that has no clear destination yet to guide households and investors toward.
Business News
Chinese investment in U.S. drops, pandemic to weigh on this year’s bilateral flows: report
Chinese direct investment in the United States dropped to the lowest level since 2009 last year amid bilateral tensions, and the COVID-19 pandemic will continue to weigh on investment flows between the world’s two biggest economies, according to a report.
Trading Ideas
JPMorgan Sees Cemented Online Habits Doubling Asian Tech Stocks
(Bloomberg) — JPMorgan Asset Management is betting that some Asian technology shares could double in value in three to five years as the global pandemic makes working and playing online a force of habit.“We are still finding most of these tech names to be offering 15% and 25% annualized expected return on a five-year view,” said Mark Davids, co-manager of the JPMorgan Asia Growth Fund. The technology “trends that existed prior to the coronavirus have been accelerated,” he added.Alibaba Group Holding Ltd., Tencent Holdings Ltd., Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. are some of the fund’s biggest investments, …read more […]
Business News
Tesla China sold 3,635 Model 3 vehicles in April, down 64% vs March: CPCA
U.S. electric vehicle maker Tesla Inc sold 3,635 Shanghai-made Model 3 vehicles in China in April, down 64% from March, according to the China Passenger Car Association (CPCA).
Trading Ideas
Shanghai Disneyland Reopens After Almost 4-Month Virus Shutdown
May.10 — Ron Merriman, managing director at consultancy MR ProFun China, talks about Monday’s reopening of Shanghai Disneyland. To reach the gates of the theme park, guests have to pass through body temperature checks and show that their health status has been confirmed using a smartphone app for tracking infected persons. Masks are mandatory. Merriman speaks with Selina Wang and Rishaad Salamat on “Bloomberg Markets: China Open.” …read more […]
Trading Ideas
Trading Ideas
Stage Stores Files for Bankruptcy, to Wind Down If No Buyer
(Bloomberg) — Stage Stores Inc., the owner of rural department and discount stores including Goody’s, Peebles and Gordmans, filed for bankruptcy protection, adding to the toll of traditional retailers felled by too much debt and the economic shocks of the coronavirus.The retailer will simultaneously seek buyers for parts or all of its business while it also begins to wind down operations, Stage Stores said in a statement late Sunday. It will start reopening stores that have been closed by the pandemic, with about 557 outlets scheduled to open May 15 to conduct liquidation sales.The company’s Chapter 11 filing in its …read more […]
Trading Ideas
Tencent’s $40 Billion Gain Masks a Deeper Long-Term Threat
(Bloomberg) — The Covid-19 pandemic likely barely dented Tencent Holdings Ltd.’s growth, thanks to its dominance of online spheres from gaming to social media. Now that China’s industries are emerging from the worst of the outbreak, the bigger long-term threat may be the growing posse of challengers to its internet leadership.The WeChat operator is expected to unveil an 18% revenue rise when it reports earnings Wednesday, offering investors the earliest glimpse into how China Internet Inc. fared during a coronavirus-stricken first quarter. That’s down a tad from 20%-plus in prior quarters but still decent, thanks to its burgeoning cloud and …read more […]
Trading Ideas
Cloudflare Sees Uptick in Cyber Attacks as Internet Usage Increases
May.10 — Matthew Prince, co-founder and chief executive officer of San Francisco-based software maker Cloudflare Inc., which provides services such as firewalls, network routing and traffic management that allow cloud-based sites to operate more effectively, discusses how the coronavirus outbreak is affecting demand for its products and services. He also talks about the deal with a unit of China’s JD.com with Selina Wang and Rishaad Salamat on “Bloomberg Markets: China Open.” …read more […]
Business News
Asian shares push higher as more countries ease lockdowns
Asian shares followed Wall Street higher on Monday as investors looked ahead to more countries restarting their economies, even as some reported an unwelcome pick up in new coronavirus cases.