Yahoo Finance's Tom Belger has the latest from London.
Yahoo Finance's Tom Belger has the latest from London.
Malaysia's prime minister said his government was prioritizing protecting people from COVID-19 amid a new outbreak after the king rebuffed his emergency proposal that critics saw as an undemocratic attempt to hold onto power. Prime Minister Muhyiddin Yassin's proposal for the king to declare a state of emergency to fight the coronavirus would have suspended Parliament and let him dodge an imminent test of his support. Muhyiddin could then govern through ordinances that could not be challenged in court.
Thailand’s Parliament began a special session Monday that was called to address tensions as pro-democracy protests draw students and other demonstrators into the streets almost daily demanding the prime minister's resignation. As Speaker of the House Chuan Leekpai began the session, only 450 of the total of 731 members of both houses had signed in for the meeting. The demonstrations by student-led groups in the Bangkok and other cities have three main demands: that Prime Minister Prayuth Chan-ocha step down, the constitution be amended to make it more democratic and reforms be made to the monarchy to make it more accountable.
This article will reflect on the compensation paid to Jonathan Rubinsztein who has served as CEO of Infomedia Ltd...
Epic Games, the game engine developer and creator of the wildly popular Fortnite game, is keeping the focus squarely on antitrust issues in its lawsuit against Apple as pressures mount to rein in anti-competitive practices of the world's largest tech companies. Earlier this month the Trump Justice Department filed its antitrust case against Google even as Congress laid out its roadmap for how to limit the monopoly power of a quartet of trillion-dollar companies: Facebook, Amazon, Apple and Alphabet (the parent company behind Google). Epic's lawyers acknowledged in the filing that the company breached its contract with Apple, but said that it only took that step because Apple's contract restrictions are illegal, according to the company.
(Bloomberg) -- Ant Group Co. has set the price for its initial public offering in Shanghai, paving the way for a blockbuster sale that may give the Chinese fintech giant a valuation higher than JPMorgan Chase & Co.Billionaire founder Jack Ma, speaking at a weekend conference, said Ant has determined the IPO price, though he didn’t disclose the amount. Pricing details for the China shares are expected by Tuesday, with the Hong Kong price to be announced as soon as Oct. 29, people familiar with the matter have said.The stock sale by Ma’s finance giant is one of the most hotly anticipated IPOs in years, on course to make history by surpassing Saudi Aramco’s record $29 billion share sale in 2019. Large investors have put in bids of about 68 to 69 yuan a share for the Shanghai stock, Reuters reported. That would value the China portion of the sale at as much as $17.3 billion, or close to $35 billion for the dual listing including the Hong Kong leg.“This was the first time such a big listing, the largest in human history, was priced outside New York City,” Ma told the Bund Summit in Shanghai Saturday. “We wouldn’t have dared to think about it five years, or even three years ago.”Ant’s IPO Is Said to Lure Fidelity, T. Rowe Price, UBS AssetThe company may raise another $5 billion after it exercises the so-called greenshoe option to meet demand, people familiar with the matter have said, adding the numbers are subject to change. That would give Ant a valuation of about $320 billion, making it bigger than JPMorgan and four times larger than Goldman Sachs Group Inc.The IPO is attracting interest from some of the world’s biggest money managers, and sparking a frenzy among individual investors in China clamoring for a piece of the sale.T. Rowe Price Group Inc., UBS Asset Management and FMR LLC, the parent of Fidelity Investments, are among the money managers angling for a piece of the deal, a person familiar with the matter has said.Each of the firms is considering investments worth several billion dollars in the Hong Kong-listed shares, though they’ve yet to finalize plans and there’s no guarantee they’ll get an allocation, the person said.Singapore’s sovereign wealth fund GIC Pte, Temasek Holdings Pte and China’s $318 billion National Council for Social Security Fund are also jockeying for a slice of the IPO, people familiar with the matter said earlier this month. Ma’s Alibaba Group Holding Ltd. will also buy new Ant shares to maintain its ownership stake at around 32%.Leveraged LoansHong Kong stockbrokers are so confident Ant IPO will go smoothly that they’re offering to let mom-and-pop investors buy the stock with as much as 20 times leverage. That matches the highest ratio ever offered by brokerages including Bright Smart Securities & Commodities Group and UP Fintech Holding Ltd. HSBC Holdings Plc has set aside more than HK$100 billion ($13 billion) of margin loans for retail investors to subscribe to the Hong Kong IPO, Hong Kong Economic Journal reported, citing the lender.With the pricing this week, investors will have to commit to the deal just days before a U.S. presidential election that could have ramifications for both Ant’s overseas expansion plans and investor risk-appetite. Shares will almost certainly start trading only after the U.S. vote on Nov. 3.The company will issue no more than 1.67 billion shares in China, equivalent to 5.5% of the total outstanding before the greenshoe option, according to its prospectus on the Shanghai stock exchange. It will issue the same amount for its Hong Kong offering. The Shanghai shares will be listed under the ticker “688688,” according to the prospectus. Ant is expected to start taking orders for the Hong Kong portion Monday, people familiar with the matter said.Ant has picked China International Capital Corp. and CSC Financial Co. to lead the Shanghai leg of the IPO. CICC, Citigroup Inc., JPMorgan and Morgan Stanley are heading the Hong Kong offering.(Updates with Hong Kong timing in penultimate paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Apple's <AAPL.O> top iPhone assembler, Taiwan-based Foxconn, has set up a task force to fend off the growing clout of Chinese electronics manufacturer Luxshare, which it believes poses a serious threat to its dominance, three sources with knowledge of the matter said. The project was initiated by Foxconn's founder Terry Gou, according to one of the sources, to target Dongguan-based Luxshare <002475.SZ>, which is little-known internationally but is poised to become the first mainland China-headquartered firm to assemble iPhones - a turf until now dominated by Taiwanese manufacturers. The task force, which the sources say was created last year, has been looking into Luxshare's technology, expansion plan, hiring strategy and whether the company - which currently makes only 5% of Foxconn's revenue - is supported by any Chinese government entity.
Belarus 'people’s ultimatum' protest met with violent crackdownOver 100,000 march in Minsk threatening Lukashenko with nationwide strike should he refuse to step down
As Afghan peace talks grind on, the Taliban are trying to portray themselves as a viable government-in-waiting in an image makeover that includes rehabilitating their ultra-violent affiliate, the Haqqani network.
Meeting only minimal resistance, Chinese-made war film “Sacrifice” invaded the box office and secured a quick victory against already battle-weary opponents. The film released on Friday and in three days earned $53.0 million according to data from consultancy firm Artisan Gateway. It occupied the majority of available theatrical territory and clocked up a per screen […]
US President Donald Trump, seen here at a rally in Circleville, Ohio, is fighting to turn his campiagn around
Women from the Qatar Airways flight, including 13 Australians, were forced to undergo a medical examination in an ambulance on the tarmac after a newborn was found in a bathroom at the Hamad International Airport, television network Seven News reported. Foreign Affairs Minister Marise Payne confirmed on Monday the women had contacted the Australian government at the time of the incident, earlier this month, and the Australian government had taken up the matter with the Qatari Ambassador. She said the "extraordinary incident" had also been reported to the Australian Federal Police. "This is a grossly disturbing, offensive, concerning set of events. It is not something I have ever heard of occurring in my life, in any context. We have made our views very clear to the Qatari authorities," Payne told media. Hamad Airport has issued a statement saying the newborn remained unidentified and was receiving medical care, the Australian Broadcasting Corporation reported. "Medical professionals expressed concern to officials about the health and welfare of a mother who had just given birth and requested she be located prior to departing (the airport)," the statement read. The Australian government expected to see a report from Qatari authorities, who were still investigating the incident, by the end of the week, Payne said. She said there were significant concerns over consent for the medical examination, adding "these are very private and personal matters".
North Dakota officials voted to repurpose $221 million in federal coronavirus aid to various state agencies, including a $16-million grant to oil companies in support of the fracking process. The North Dakota Emergency Commission approved the plan Friday, the Bismarck Tribune reported. The money comes from the $1.25 billion awarded to the state through the Coronavirus Relief Fund established by the federal CARES Act.
(Bloomberg) -- Singapore is holding its first large-scale business conference this week since the coronavirus pandemic, a key test of efforts to restart the the city-state’s economy.Singapore International Energy Week began Monday with 250 participants and on-site staff, with hundreds more slated to join virtually. As a hub for the oil and natural gas business, and a go-to destination for regional conferences, the Southeast Asian nation in a normal year hosts dozens of events for company officials to mingle and broker deals.While places such as China and Taiwan have restarted business gatherings -- from automotive shows to tech conferences -- with hundreds of participants, the Singapore event will be its first step in reopening a key sector. Those attending the conference at the Marina Bay Sands hotel are required to take a Covid-19 test, with results within 30 minutes, and must download a contact-tracing app.“This has been in the making for a long while,” Trade and Industry Minister Chan Chun Sing said in his opening remarks, which highlighted efforts to boost Singapore’s green energy sector. “We are back in business. Different format, but same spirit.”Singapore’s government has rolled out strict measures to stop the spread of the virus, such as implementing a partial lock-down for two months, requiring mask use and limiting outdoor gatherings to five people. The economy has gradually reopened since mid-June, with daily cases dwindling in recent weeks to low single digits or zero.High ProfileAuthorities see this weeks’ conference as a test of whether their measures can create a safe environment to allow other large events, after high-profile ones such as the Formula One race and Asia Pacific Petroleum Conference were scrapped or went online this year.The most prominent speaker at Singapore International Energy Week will be Saudi Arabia’s oil minister Abdulaziz bin Salman, though the prince will be joining virtually. Some executives, such as Jochen Eickholt, a Siemens AG board member based in Germany, will be traveling to Singapore to attend the event.The energy event comes ahead of December’s fintech festival, which also will adopt the joint online and physical model. That conference, which attracted about 60,000 participants last year, will have speakers including Citigroup Inc. Chief Executive Officer-designate Jane Fraser, Standard Chartered Plc CEO Bill Winters and Microsoft Corp. CEO Satya Nadella.(Updates with minister’s comments in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Ben Roethlisberger passed for 268 yards and two touchdowns as the Pittsburgh Steelers rode a big first half to a 27-24 win over the Tennessee Titans on Sunday in Nashville. The Steelers built a 20-point lead in the third quarter, then held on as Stephen Gostkowski missed wide right on a potential tying 45-yard field goal with 19 seconds left. Pittsburgh improved to 6-0 and knocked the Titans (5-1) from the unbeaten ranks.
David Henderson will appear before Cardiff Crown Court on Monday.
Asic deputy chairman resigns after $70,000 rental payment revealed. Concerns about payment to Daniel Crennan, which were to help him relocate from Melbourne to Sydney, were raised by the auditor general
Does this Cowboys team still have some fight left in it?
Wisconsin says nobody who played in the season opener Friday night tested positive for COVID-19 or reported having any symptoms beforehand, amid weekend reports that quarterback Graham Mertz has tested positive. The Milwaukee Journal-Sentinel and Wisconsin State Journal reported Mertz would be taking a second test to determine whether his first test was a false positive. The Journal-Sentinel reported Mertz’s positive test came Saturday, one day after the Badgers’ 45-7 home victory over Illinois.
Police said all 22 crew members were safe and well.
Mexican health authorities acknowledged Sunday that the country's true death toll from the coronavirus pandemic is far higher than thought, saying there were 193,170 “excess” deaths in the year up to Sept. 26, with 139,153 of those judged to be attributable to COVID-19. Mexico has an extremely low testing rate, and officials had previously acknowledged that many people didn’t get tested or their tests were mishandled. Authorities had earlier presented the estimated COVID-19 death toll of 103,882 after taking into account mishandled tests and some other factors.