Date
17 August 2018

Markets

  • New stock bets taken by US hedge funds in the second quarter point to their optimism about the prospects for the world's largest economy. Photo: Reuters

    Hedge funds signal continuing confidence over US economy

    Aug 15, 2018 9:18am
    Prominent hedge fund managers appeared to have made bets that the US economy will continue to expand despite increasing concerns about a broadening trade dispute between the United States and China, Reuters reports. Hedge funds took...
  • At US$12.2 billion in short bets, Tesla is the most shorted company in the United States, S3 Partners said. Photo: AFP

    Tesla short sellers trim exposure but stay the course

    Aug 14, 2018 8:19am
    Short sellers betting against Tesla Inc. trimmed their exposure to the electric car maker’s stock after chief executive Elon Musk gave new information about his proposal to take the company private, Reuters reports. Data showed traders...
  • Tesla founder and CEO Elon Musk stunned investors by announcing on Twitter that he might take the electric-car company private in a record US$72 billion transaction. Photo: Bloomberg

    Investors sue Tesla, Musk over going-private proposal

    Aug 13, 2018 7:45am
    Tesla Inc. and its chief executive Elon Musk were sued by investors for allegedly fraudulently engineering a scheme to squeeze short-sellers, including through Musk’s proposal to take the electric car company private, Reuters reports. The lawsuits...
  • Tesla shares spiked on Thursday after the company signaled that its cash-burn was being brought under control. The stock surge left short-sellers with huge paper losses. Photo: Reuters

    Tesla short-sellers dealt a US$1.7 bln loss as shares soar 16%

    Aug 3, 2018 9:30am
    Tesla stock short-sellers are estimated to have suffered US$1.7 billion in paper losses on Thursday as shares of the electric-car maker soared more than 16 percent after the firm’s quarterly report, Reuters reports.  Tesla shares posted...
  • Bitcoin's plunge came after a sell-off in shares of technology and internet companies spilled over into other risky assets. Photo: Bloomberg

    Bitcoin slips below US$8,000 as investors step away from risk

    Jul 31, 2018 7:13am
    Bitcoin briefly fell below US$8,000 on Monday as investors scaled back their exposure to cryptocurrenices, after a sell-off in shares of technology and internet companies spilled over into other risky assets, Reuters reports. The technology index tumbled...
  • The IPO pricing values money-losing Pinduoduo at US$23.8 billion, including all outstanding share options. Photo: Reuters

    Pinduoduo said to price US IPO at top end, raising US$1.63 bln

    Jul 27, 2018 9:42am
    Chinese online group discounter Pinduoduo Inc. priced its US initial public offering (IPO) at US$19 per American depositary share (ADS), raising US$1.63 billion in the second-biggest US float by a Chinese firm this year, Reuters reports,...
  • Xiaomi may be a great brand, but it's facing a lot of headwinds on the way to its listing. Photo: Reuters

    What’s wrong with Xiaomi?

    - Jul 6, 2018 4:13pm
    Everything that could go wrong went wrong for Xiaomi Corp. as it heads toward its trading debut on Monday. The high-profile listing billed as the largest technology offering since 2014 is expected to open 10 percent...
  • Dell said the agreement values its equity at between US$61.1 billion and US$70.1 billion, more than twice the value of the US$24.9 billion deal that took the company private in 2013. Photo: Reuters

    Dell moves to go public without IPO

    Jul 3, 2018 9:05am
    Dell Technologies Inc. said it will pay US$21.7 billion in cash and stock to buy back shares tied to its interest in software company VMware Inc., returning the computer maker to the stock market without an...
  • Xiaomi founder and chairman Lei Jun reiterates his company's pledge to keep pricing as close to cost as possible during a press conference on Saturday. Photo: Reuters

    Xiaomi: Cheap products, expensive valuation

    - Jun 26, 2018 11:48am
    “World-class products at half the price” is one of the best-known slogans of Xiaomi Corp., which is offering its shares to investors in Hong Kong this week. The Chinese smartphone maker’s founder and chairman, Lei Jun, said...
  • Xiaomi founder and CEO Lei Jun will preside over what promises to be a very interesting and well-attended press conference this Saturday. Photo: Bloomberg

    What Xiaomi’s first IPO presser would look like

    - Jun 21, 2018 4:28pm
    Financial journos, especially those covering the technology beat, will have to postpone plans for a well-deserved beauty sleep this weekend if they don’t want to miss an important event in the sector.  Smartphone maker Xiaomi Inc....
  • Once the world’s most valuable public company, General Electric foundered in several key industrial markets in recent years, and a diversion into financial services steered it into the eye of the 2008 financial crisis. Photo: Reuters

    General Electric loses place in elite Dow Jones index

    Jun 20, 2018 8:18am
    General Electric Co. has lost its spot in the Dow Jones Industrial Average after over a century in the blue-chip stock index, a new blow to a company that once towered over the American business landscape...
  • Xiaomi founder and CEO Lei Jun demonstrates the new features of his latest smartphone model. Xiaomi's move to postpone its mainland listing creates uncertainties for Beijing's initiative to lure tech giants to return home. Photo: Reuters

    Something old for Xiaomi’s new IPO

    - Jun 19, 2018 3:04pm
    Something’s wrong with Xiaomi Corp.’s much-awaited dual listing? The Chinese smartphone maker said on Tuesday it will postpone its application for a mainland share offering through the issuance of China depositary receipts (CDRs) until after it...
  • The China Securities Regulatory Commission has issued rules allowing overseas-listed Chinese companies to launch secondary listings in the domestic market through the issuance of China Depositary Receipts. Photo: AFP/Reuters

    CSRC issues rules on domestic flotation of overseas-listed firms

    Jun 7, 2018 9:50am
    China has adopted new rules governing the issuance of securities that will allow the domestic flotation of overseas-listed innovators, Reuters reports, citing the China Securities Regulatory Commission. Authorities are encouraging overseas-listed Chinese companies to launch secondary...
  • Coal is used to generate almost 40 percent of electricity worldwide. Photo: Reuters

    Big investors urge G7 to step up climate action, shift from coal

    Jun 4, 2018 8:20am
    Institutional investors with US$26 trillion in assets under management called on Group of Seven leaders to phase out the use of coal in power generation to help limit climate change, despite strong opposition from Washington, Reuters...
  • Haidilao is known not only for its excellent Four Seasons-type of hotpot but also for its legendary customer service. Photo: Bloomberg

    Haidilao is hot pick for hotpot and IPO

    - May 18, 2018 1:48pm
    The name is hot, and the IPO is probably hotter. Hotpot chain Sichuan Haidilao Catering has filed for an initial public offering in Hong Kong, seeking to raise up to US$700 million. Sichuan province, in southwestern...
  • Ethereum has the become the foundation for many initial coin offerings. Photo: Reuters

    Ethereum is top public blockchain, bitcoin No 13 in China index

    May 18, 2018 9:32am
    Ethereum is the top public blockchain in the cryptocurrency space, while that of bitcoin, the original virtual currency, is ranked 13th, according to the Chinese government’s first monthly Global Public Chain Assessment Index, Reuters reports. The...
  • Two of the world’s largest bitcoin plays plan to list on the Hong Kong Stock Exchange as soon as this year with each seeking to raise as much as US$1 billion. Photo: Bloomberg

    Bankers eager to meet Chinese bitcoin miners

    - May 17, 2018 5:14pm
    Investment bankers still have a vivid recollection of that time, about a decade ago, when mainland mining bosses descended on Hong Kong to list their companies on the local stock exchange. The executives looked ill at ease...
  • Jay Clayton, the chairman of the US Securities and Exchange Commission, regards all cryptocurrencies as securities, with the exception of the first mover, Bitcoin, which he considers a commodity. Photo: Reuters, Bloomberg

    Initial coin scams

    - May 11, 2018 3:58pm
    Initial coin offerings have become the most common way to finance cryptocurrency ventures, of which there are now nearly 1,600 and rising. In exchange for your dollars, pounds, euros, or other currency, an ICO issues digital...
  • Big market players are less likely to chase sudden swings in bitcoin’s value, being more interested in the potential of unproven but promising blockchain technology. Photo: AFP

    Bitcoin frenzy settles down as big players muscle into market

    Apr 30, 2018 8:57am
    After keeping investors on the edge of their seats, bitcoin may be maturing into a period of relatively boring stability, experts say. A worldwide wave of regulation has led to a collapse in trading volumes. Cryptocurrency...
  • “Fearless Girl”, whose message is for a bigger role for women in corporate America, will be moved by the end of 2018. Photo: Reuters

    ‘Fearless Girl’ to stare down the New York Stock Exchange

    Apr 20, 2018 8:05am
    The bronze statue of a little girl that became a tourism phenomenon by staring down Wall Street’s massive “Charging Bull” sculpture is to be moved to a nearby spot where its stern gaze will be on...

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