Samsung Group heir Jay Y. Lee was questioned on Tuesday by prosecutors about a controversial 2015 merger and alleged accounting fraud that they said may have helped him advance his succession-planning agenda at the country’s top conglomerate.
Asian shares forged ahead on Tuesday while U.S. stock futures breached a major chart barrier as investors looked past Sino-U.S. trade tensions to more stimulus in China and a re-opening world economy.
Ride-hailing service Bolt said on Tuesday it has raised 100 million euros ($109 million) from London-based investment firm Naya Capital Management in a deal valuing the European rival of Uber at 1.7 billion euros.
Tim Harris was preparing to relocate for an assignment with energy services firm Halliburton Co for the fifth time in 15 years when his career came to a halt.
LATAM Airlines Group SA said on Tuesday the company and its affiliates in Chile, Peru, Colombia, Ecuador and the United States have filed for Chapter 11 bankruptcy protection in the U.S.
May.26 — Richard Gu, partner at law firm Linklaters Zhao Sheng, looks at how are the coronavirus outbreak and the political tensions with the U.S. affecting deals involving Chinese businesses. He speaks with Tom Mackenzie and Yvonne Man on “Bloomberg Markets: Asia.” …read more […]
(Bloomberg) — U.S. stock-index futures extended gains in Asia as investors weighed the prospects of economies reopening with simmering trade tensions between Washington and Beijing.Contracts on the S&P 500 rose to 3,000.50, the highest since March 6, as of 1:04 p.m. in Tokyo, adding to gains during overnight trading from their closing level of 2,953.00 on May 22. The underlying S&P 500 closed at 2,955.45 on Friday. U.S. financial markets were shut Monday for Memorial Day.“It’s the grand re-opening that matters, with the S&P 500 within earshot of the psychologically fundamental 3,000 mark,” Stephen Innes, chief global markets strategist at …read more […]
(Bloomberg) — Asian stocks climbed with U.S. and European futures Tuesday despite escalating geopolitical risks, with Japan leading gains as the world’s third-largest economy reopened.Treasuries dipped in early trading after the three-day U.S. weekend, while the dollar retreated. Futures on the S&P 500 were up on Friday’s close, suggesting a positive open on Wall Street. Shares rose in Tokyo, Sydney and Seoul, while Hong Kong stocks also pushed higher, showing signs of stabilizing after weekend unrest. Shanghai saw more modest gains. Crude oil advanced past $34 a barrel in New York.Tensions between Washington and Beijing remain in focus with China …read more […]
Oil prices climbed on Tuesday, boosted by increasing faith in the market that producers will to stick to commitments to cut crude supply while demand picks up with more cars back on the road as coronavirus lockdowns are eased around the world.
(Bloomberg) — Latam Airlines Group SA, Latin America’s largest air carrier, sought bankruptcy court protection in New York after the Covid-19 pandemic grounded flights across the region.The Chapter 11 petition allows Latam to keep operating while the Chilean carrier works out a plan to pay creditors and turn around the business. Latam, whose shareholders include Chile’s Cueto family and Delta Air Lines Inc., continues to operate on a reduced schedule, and it has commitments for a bankruptcy loan of up to $900 million.The money is coming from shareholders including the Cuetos, the Amaro family and Qatar Airways, according to a …read more […]
Daimler AG plans to invest in Farasis Energy’s planned $480 million IPO, aiming to ensure a stable supply of batteries from the Chinese firm as it ramps up electric vehicle production, three people familiar with the matter said.
May.25 — Ken Peng, Asia Pacific investment strategist at Citi Private Bank, talks about the state of the region’s markets, the implications of the political tensions between the U.S. and China, and the opportunities he sees. He speaks with Yvonne Man and Tom Mackenzie on “Bloomberg Markets: Asia.” …read more […]
China’s aviation regulator may make it difficult for Hong Kong’s Cathay Pacific Airways Ltd to merge regional arm Cathay Dragon into its main brand because of infractions during last year’s pro-democracy protests, two sources said.
Walmart de Mexico paid $358 million in taxes after talks with the Mexican government over an even larger sum authorities had aimed to charge the retailer for the sale of a restaurant chain, the company said on Monday.
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