Deals of the day- Mergers and acquisitions
Fri 3:24am The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Friday: ** Johnson & Johnson plans to seek a buyer for its medical device maker business, Cordis Corp, The Wall Street Journal reported, citing people familiar with the matter. ** China's Dalian Wanda group and Tencent Holdings Ltd said they would set up a 5 billion yuan ($814 million) e-commerce joint venture with Baidu Inc, as the firms push into the high-growth e-commerce sector. ** Malaysia Airlines will slash nearly a third of its 20,000 workforce and cut back its global route network as part of a radical 6 billion ringgit ($1.9 billion) restructuring following the devastating impact of two jetliner disasters.
Hong Kong exchange asks China for time to implement tax rules ...
Fri 12:31am By Saikat Chatterjee HONG KONG, Aug 29 (Reuters) - Hong Kong's stock exchange has asked Chinese regulators to give investors time to adjust to any tax rules agreed upon as part of a closely watched cross-border share trading scheme, two people briefed by the city's stock market operator said. Foreign investors are concerned that the new tax rules could come into force immediately after the scheme is launched, allowing them no time to make the necessary adjustments. The Hong Kong Exchanges and Clearing Ltd is currently negotiating the terms of the scheme, called Hong Kong Shanghai Connect, with the China Securities Regulatory Commission (CSRC), the mainland stock regulator. The CSRC was not immediately available for comment.
Asian shares slump as Ukraine tensions flare
By Lisa Twaronite TOKYO (Reuters) - Asian shares slumped on Friday, pulling back from a more than Thu 11:30pm By Lisa Twaronite TOKYO (Reuters) - Asian shares slumped on Friday, pulling back from a more than six-year high touched this week, after flaring Ukraine tensions spoiled investor risk appetite. Wall Street sagged on Thursday as Ukraine's president said Russian troops had entered his country in support of pro-Moscow rebels who captured a key coastal town, escalating the five-month-old separatist conflict. The United States on Thursday openly accused Russia of sending combat forces into Ukraine and threatened to tighten economic sanctions, but Washington stopped short of calling Moscow's latest step an invasion. "While the primary driver of losses in global equities were developments on the Ukraine-Russia front, there were growing signs that the recent rally in equities was beginning to stall," IG strategist Stan Shamu said in a note. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.2 percent, pulling away from Thursday's high of 515.13, its highest since early 2008.
Exclusive: Morgan Stanley plans natural gas export plant in new ...
By Anna Louie Sussman NEW YORK (Reuters) - Morgan Stanley has quietly filed plans to build and run one of the Thu 10:07pm By Anna Louie Sussman NEW YORK (Reuters) - Morgan Stanley has quietly filed plans to build and run one of the first U.S. Department of Energy's Office of Fossil Energy submitted in May, the Wall Street bank outlined a proposal to build, own and operate a compression and container loading facility near Freeport, Texas, which will have capacity to ship 60 billion cubic feet a year of compressed natural gas (CNG). While the size of the project is small compared with bigger liquefied natural gas (LNG) projects, the plan highlights the bank's ability to exploit its status as one of two Wall Street banks which are allowed to own and operate infrastructure for the manufacture, storage and operation of raw materials. The other one is Goldman Sachs.
Australia shares flat after Wall Street's slip
Thu 7:39pm Woolworths falls after earnings SYDNEY/WELLINGTON, Aug 29 (Reuters) - Australian shares were flat in choppy trade on Friday, with consumer staples and miners down and investors wary after renewed tension in Ukraine hit Wall Street overnight. Trading linked to month-end settlements and the close of the domestic earnings season added to the choppiness. Wesfarmers Ltd, Asia's largest-listed retailer by market value, was down 3 percent.
PRESS DIGEST -Hong Kong - Aug 29
Thu 7:34pm HONG KONG, Aug 29 (Reuters) - These are some of the leadingstories in Hong Kong newspapers on Friday. Reuters has notverified these stories and does not vouch for their accuracy. SOUTH CHINA MORNING POST -- The Hong Kong stock exchange and 450 brokerage houseshave been working closely to ensure retail investors will beable to trade on the local stock market if a planned protest byOccupy Central blocks streets in the central business district.Occupy Central plans to gather outside the governmentheadquarters in Tamar on Sunday night, said co-organiser BennyTai Yiu-ting. (http://bit. ...
Drop in earnings for Kiwirail
Thu 6:44pm A frustrating financial year for Kiwirail has seen a 28 percent drop in its earnings.
Wall Street loses ground on Ukraine worry
Ukraine's security and defense council said the border town of Novoazovsk and other areas of UkThu 2:55pm Ukraine's security and defense council said the border town of Novoazovsk and other areas of Ukraine's south-east had fallen under the control of Russian forces, together with rebels. The Federal Bureau of Investigation said it was investigating media reports that several U.S.
Abercrombie, Williams-Sonoma are big market movers
Thu 1:57pm Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Abercrombie & Fitch Co., down $2.13 to $41.87 The retailer reported weak sales ...
FBI probes Russian link in hacking case
Thu 8:49am NEW YORK: Hackers, believed to be from Russia, broke into the computer systems of JPMorgan Chase and a second United States bank earlier this month, sparking a federal investigation, US media reported on Wednesday. Bloomberg said two people familiar with the probe confirmed that the Federal Bureau of Investigation (FBI) was examining the case to see if it is retaliation for US sanctions against Moscow over its support of Ukraine’s secessionist rebels. Bloomberg and The Wall Street Journal, which also reported the hacking case but without naming Russians as behind it, said it was not clear what damage the hackers caused or what data they may have stolen.
Ukraine, Russia tensions rock stocks, buoy core bonds
By Marc Jones LONDON (Reuters) - European shares took a sharp tumble on Thursday as accusations by UThu 6:14am By Marc Jones LONDON (Reuters) - European shares took a sharp tumble on Thursday as accusations by Ukraine that Russia had moved troops across the border brought a three-day global rally to a shuddering halt. Ukrainian President Petro Poroshenko said Russian forces had entered Ukraine, and he convened his security and defence council to decide how to respond. The tensions put riskier assets firmly under pressure with Moscow stocks slumping and the top share index in Germany -- whose corporate sector has strong trade ties with Russia -- dropping more than 1.3 percent after other sources also reported Russian troops had crossed the border to fight alongside separatists. Wall Street, which has repeatedly set all-time highs in recent weeks, was set to open lower too despite second quarter growth being revised up and unemployment claims falling as part of an early flurry of data.
Asia shares mostly down, euro claws back some losses
Asia's markets mostly fell Thursday, with investors unable to build on the previous dayThu 4:37am Asia's markets mostly fell Thursday, with investors unable to build on the previous day's advances after the S&P on Wall Street notched up another record.