Business News
UBS’s Ermotti nominated to become Swiss Re chairman in 2021
Swiss Re said it will nominate UBS Group Chief Executive Sergio Ermotti to be its next chairman, the Swiss reinsurer said on Tuesday.
Month: March 2020
Trading Ideas
Xerox, HP blame each other as takeover battle heats up
U.S. printer maker Xerox Holdings Corp took its $35 billion bid for HP Inc to the U.S. personal computer maker’s shareholders on Monday, with a formal tender offer and a rebuttal to HP’s account of why they could not negotiate a deal. HP adopted a “poison pill” last month to neutralize Xerox’s tender offer. Unless the companies can reach a compromise, it will be Xerox’s bid to replace HP’s board of directors at the latter’s annual shareholder meeting in the next few weeks, rather than the tender offer, that will determine the outcome of the takeover battle. …read more […]
Business News
UBS’s Ermotti to become Swiss Re chairman
Swiss Re said it will nominate UBS Group Chief Executive Sergio Ermotti to be its next chairman, the Swiss reinsurer said on Tuesday.
Business News
Global shares extend rebound on policy easing hopes, eye G7 for cues
Global shares and oil prices extended their rebound on Tuesday as policymakers indicated their willingness to move to ease the economic fallout from the coronavirus, while investors waited for a conference call by Group of Seven heads for trading cues.
Business News
Xerox, HP blame each other as takeover battle heats up
U.S. printer maker Xerox Holdings Corp took its $35 billion bid for HP Inc to the U.S. personal computer maker’s shareholders on Monday, with a formal tender offer and a rebuttal to HP’s account of why they could not negotiate a deal.
Business News
Oil extends gains as hopes of stimulus, OPEC cuts offset virus
Oil prices rose for a second day on Tuesday on expectations that central banks are likely to enact financial stimulus to offset the impacts of the coronavirus outbreak and growing optimism that OPEC will order deeper output cuts this week.
Business News
SoftBank CEO tells U.S. investors he’ll be more careful
SoftBank Group Corp Chief Executive Masayoshi Son, under pressure from hedge fund Elliott Management to rein in his mercurial investment style, turned on the charm in a meeting with U.S. investors on Monday, but offered few concrete concessions.
Business News
Global shares extend rebound on hopes of G7 support
Global shares and oil prices extended their rebound on Tuesday on mounting speculation policymakers around the world would move to ease the economic fallout from the spreading coronavirus, ahead of a conference call by Group of Seven heads.
Business News
Tencent extends warranty for Nintendo Switches in China as virus hits sales
Chinese tech giant Tencent said on Tuesday it would extend warranty for Nintendo Switches purchased in China via official channels before March 31 by six months as sales have been hit by the coronavirus outbreak.
Business News
Musk tweets support for Dorsey remaining as Twitter CEO
Elon Musk said late on Monday he supported Jack Dorsey remaining as Twitter Inc’s chief executive officer, two days after reports that activist investor Elliott Management Corp has pushed for his removal from the role.
Trading Ideas
JD Leaps to 20-Month High After Sales Outlook Quells Virus Fears
(Bloomberg) — JD.com Inc. surged to its highest since June 2018 after its forecast for at least 10% revenue growth this quarter suggested online retail in China was proving more resilient to the coronavirus epidemic than anticipated.Its shares rose more than 12.4% in New York, their biggest gain since August, after the company reported fourth-quarter revenue of 170.7 billion yuan ($24.5 billion), surpassing the highest analyst’s estimate thanks to a strong performance during November’s Singles’ Day shopping event and robust user growth.China’s No. 2 online retailer stressed that the sales forecast was a preliminary estimate while it gauges the extent …read more […]
Business News
Facebook pulls out of South by Southwest festival over coronavirus fears
Facebook Inc is pulling out of this year’s South by Southwest (SXSW) music and tech festival over growing concerns about the coronavirus outbreak, a spokesperson for the company said on Monday.
Business News
Oil rises a second day as stimulus hopes, expected OPEC cuts offset virus
Oil prices rose for a second day on Tuesday on expectations that central banks are likely to enact financial stimulus to offset the impacts of the coronavirus outbreak and growing optimism that OPEC will order deeper output cuts this week.
Business News
GFL raises $1.4 billion in IPO amid volatile markets
GFL Environmental Inc on Monday raised about $1.4 billion in its initial public offering, pricing it below the target range in a conservative step to ride out market volatility in the wake of the coronavirus outbreak.
Trading Ideas
Stocks Pare Gains in Asia; Yen Climbs With Bonds: Markets Wrap
(Bloomberg) — Japanese stocks surrendered gains and U.S. futures came off their highs Tuesday after a wave of initial enthusiasm about central banks kicking into gear to protect the global economy from the hit of the coronavirus.Central bankers from the U.S., Japan and Europe pledged to act as appropriate to address mounting risks from the coronavirus and Group of Seven finance chiefs confer by telephone Tuesday. A report from South Korea showing another jump in coronvirus cases there, while on par with Monday, underscored that the disease continues to spread. U.S. 10-year yields slid, the yuan dipped and S&P 500 …read more […]