Business & Finance News
Investors poured $600 million in to U.S. technology stocks in the week leading up to poor results from Facebook , according to Bank of America Merrill Lynch (BAML) analysts, urging clients to sell the sector on signs inflows have reached bubble territory.
Thomson Reuters Corp’s Financial and Risk unit, in which U.S. private equity firm Blackstone Group is buying a majority stake, will be renamed Refinitiv once the deal closes, the company said in a statement on Friday.
China’s market regulator said it still hoped to find a solution to antitrust concerns that doomed Qualcomm Inc’s $44 billion takeover of NXP Semiconductors, after finding that proposals to address the issue had fallen short.
Global stocks rose on Friday as strong company earnings reports and an easing of transatlantic trade tensions on an agreement between the United States and Europe this week to try to cut trade barriers boosted investor confidence.
Shares in luxury goods group Kering , which hit record highs last month, fell back sharply on Friday as traders said sales growth at Kering’s Gucci brand had come in a bit weaker than forecast.
The Chinese unit of U.S. co-working space provider WeWork Cos said it has raised $500 million from investors including Temasek Holdings [TEM.UL] and SoftBank Group Corp as it looks to expand in the market for shared office space in the country.
German industrial conglomerate Thyssenkrupp is planning to invest $150 to $250 million in a new U.S. headquarters for its elevators business, an executive told Reuters.
(This story was refiled to clarify state bank activity in spot yuan market in 13th paragraph.)
China’s market regulator said it still hoped to find a solution to antitrust concerns that doomed Qualcomm Inc’s $44 billion takeover of NXP Semiconductors, after finding that proposals to address the issue had fallen short.
Qualcomm Inc Chief Executive Officer Steven Mollenkopf sought government help to block an acquisition of the U.S. chip maker on fears of China’s technological ascendance, only to see his biggest deal thwarted by China.
The U.S. economy likely grew at its fastest pace in four years in the second quarter as consumers boosted spending and farmers rushed shipments of soybeans to China to beat retaliatory trade tariffs before they took effect in early July.
When workers at South Korea’s Hyundai Motor went on strike last year, the stoppage lasted 24 days, triggered months of negotiations and netted them their smallest raise in nearly a decade.
Asian stocks struggled to gain traction on Friday, following a mixed Wall Street finish and as the worsening Sino-U.S. trade dispute kept investors in the region cautious, despite signs of rapprochement between the United States and Europe.
BP Plc has agreed to buy U.S. shale oil and gas assets from global miner BHP Billiton for $10.5 billion, expanding the British oil major’s footprint in oil-rich onshore basins in its biggest deal in nearly 20 years.
China’s market regulator said on Friday proposals from Qualcomm Inc and NXP Semiconductors to solve antitrust concerns around their now scrapped $44 billion merger had not been sufficient, but it still hoped to find a solution.
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