May, 2018

• 21 May

  Xiaomi’s real IPO killer just arrived from Beijing

  

  Xiaomi Corp.’s IPO killer just arrived on the scene. China Tower Corp., a telecommunications construction firm that’s owned by the country’s three state operators, is following in the smartphone seller’s footsteps, applying to go public in Hong Kong. The Beijing-based group may raise as much as $10 billion, putting it in the same league as Xiaomi, which is seeking a ...

  Read More »
• 21 May

  Two missed opportunities in Emmanuel Macron’s first year

  

  One year after the election that ushered in the youngest president in French history, Emmanuel Macron isn’t interested in assessments; his reforms, he says, will take a few years to bring results. But one thing is certain: Macron has quietly shelved the best ideas from his campaign and the early days of his administration. The first shelved idea was a ...

  Read More »
• 21 May

  Stocks jump with dollar as US-China trade tensions cool

  

  Bloomberg US stocks surged and the dollar strengthened against most major peers and as the Trump Administration sought to deescalate a trade rift with China. Treasury yields climbed as havens such as the yen and gold tumbled. All major equity gauges were higher led by strength in technology companies. The greenback rose after Treasury Secretary Steven Mnuchin said that the ...

  Read More »
• 21 May

  Foreigners pull most cash from Malaysian stocks since 2013

  

  Bloomberg The gains in Malaysian equities since Mahathir Mohamed’s shock election win haven’t stopped an exodus of foreign money from gathering pace — with this year’s almost $1 billion of overseas inflows into the market at risk of being wiped out. The nation’s stock market had a volatile start following a three-day holiday for the election, before the benchmark inched ...

  Read More »
• 21 May

  Shrinking valuations cast shadow over smaller Chinese bank IPOs

  

  Bloomberg As China’s crackdown on shadow banking shrinks smaller banks’ valuations relative to larger peers, the outlook is dimming for the country’s regional lenders queuing up to list their shares. Small bank shares have been slipping relative to China’s lending giants like Industrial & Commercial Bank of China Ltd. and Agricultural Bank of China Ltd. due to their deeper involvement ...

  Read More »
• 21 May

  Vietnam’s OCB expects market value to reach $1 billion after listing

  

  Bloomberg Vietnam Orient Commercial Joint Stock Bank expects its market capitalisation to rise to $1 billion after its planned listing on the country’s benchmark bourse during the second half of the year, according to Chairman Trinh Van Tuan. The 22-year-old bank, also known as OCB, plans to list 750 million shares on the Ho Chi Minh City Stock Exchange late ...

  Read More »
• 21 May

  ECB presidency race gets real as northern Europeans drop hints

  

  Bloomberg Northern Europe’s claim for a turn at leading euro-area monetary policy in the era after Mario Draghi advanced over the weekend as two of its contenders dropped hints that they’re waiting to be asked. The signals from Bundesbank chief Jens Weidmann and outgoing Finnish Governor Erkki Liikanen are the most explicit so far in the race to succeed the ...

  Read More »
• 21 May

  Carney urged to go ‘mystical’ on BOE outlook

  

  Bloomberg Mark Carney may be wondering at times if less is more when he speaks to financial markets. After a bruising month that’s seen his own signals on interest rates questioned and one of his deputies forced to apologize for calling the economy menopausal, communication is once again a hot topic for the Bank of England governor. Carney, who arrived ...

  Read More »
• 21 May

  Credit Suisse seeks larger share of debt swaps market

  

  Bloomberg Credit Suisse Group AG is seeking to grow its market share for a type of derivative that’s gaining favour among investors as a way to wager on corporate debt. The Swiss bank is ramping up its market-making operations for so-called total-return swaps tied to US bond and loan indexes, according to people familiar with the matter. The lender hired ...

  Read More »
• 21 May

  Ryanair warns of ‘shakeout’ as fuel costs claim weakest

  

  Bloomberg Ryanair Holdings Plc warned that profit will slump for the first time in five years as rising labor costs compound a fuel-price surge that may force weaker competitors out of business. Net income could fall as much as 14 percent in the year through next March, Ryanair said. An increase in kerosene costs will pressure earnings in the short ...

  Read More »