One humid Tuesday in July, I summited the highest point on Grand Cayman, an eight-story dump known affectionately by the locals as Mount Trashmore. From the top of the foul mound — a collection of almost every piece of garbage discarded on the island since it went all-in on financial services in the 1960s — […]
HONG KONG (Reuters) – Alibaba Group’s (BABA.N) (9988.HK) Hong Kong shares made a solid debut on Tuesday, trading 6.9% higher than their issue price and at a small premium to pricing in New York after marking the world’s largest stock sale this year. The Chinese e-commerce giant has raised at least $11.3 billion from the […]
(Reuters) – Each of Wall Street’s three major averages kicked off the trading week with record closes on Monday as signs pointed to progress between the United States and China on a trade truce, while a round of merger deals also helped buoy sentiment. A Chinese state-backed tabloid said Beijing and Washington were “moving closer […]
WASHINGTON (Reuters) – When the Trump administration imposed tariffs on Chinese imports last year, officials insisted China would pay the cost – implying Chinese firms would have to cut their prices to absorb import “taxes” of up to 25% when the goods hit U.S. shores. Instead, the prices Chinese firms charge have barely budged, meaning […]
Wage rates are growing at a pace last experienced during the days of the Celtic Tiger, according to the latest figures. Today’s report by the Central Statistics Office found that hourly earnings have risen by 4pc over the past year to a national average of €23.53, while weekly earnings are 3.4pc higher at €768.14. “Wage […]
(Reuters) – McDonald’s Corp agreed to pay $26 million to settle a nearly seven-year-old lawsuit accusing the fast food chain of underpaying U.S. staff at its corporate-owned restaurants in California. The preliminary settlement resolves claims that the company used a timekeeping system that cheated workers out of overtime, barred workers from taking rest breaks during […]
(Reuters) – The S&P 500 and the Nasdaq indexes hit record highs on Monday, as a report that the United States and China were nearing a trade truce sparked a rally in Apple and semiconductor stocks, with sentiment also buoyed by a raft of blockbuster deals. Gains in trade-sensitive chip stocks, including Applied Materials Inc […]
Good morning. Charles Schwab said it would acquire TD Ameritrade for $26 billion — a deal that brings together two of the largest online brokerage firms totaling roughly $5 trillion in assets. (Was this email forwarded to you? Sign up here.) Michael Bloomberg joins the presidential race Michael Bloomberg announced yesterday that he would run […]
SINGAPORE (BLOOMBERG) – Regional payments platform 2C2P, which helps airlines, travel companies and online shopping malls handle payments from customers in the region, has raised US$52 million (S$70.9 million) from investors including the World Bank’s International Finance Corp, Cento Ventures and Arbor Ventures to fund expansion. The company, dual-headquartered in Singapore and Bangkok, has now […]
(Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk indicated in a tweet on Sunday that the electric carmaker received 200,000 orders for its electric pickup truck within three days of its launch. Musk, who has been regularly tweeting about the Cybertruck’s features since its launch late Thursday, has also been updating his followers […]