Japanese real estate funds and developers focusing on the retail sector are leading a stock market rally as investors bet the cheaply valued sector will outperform as consumer spending recovers from the coronavirus pandemic. The gradual opening up of the Japanese economy from lockdowns has seen the stock market rise nearly 9% since August.
Asset managers and companies must do more to prepare for the end of the tarnished Libor benchmark, Hong Kong's banking regulator said on Wednesday, describing them as lagging behind the banking sector.
Persistent damage to the global economy from the coronavirus pandemic will hollow out demand for oil more than previously thought, major industry figures said on Monday. The Organization of the Petroleum Exporting Countries, energy giant BP and commodities trading giant Vitol all made grim forecasts as rising rates of COVID-19 infections sap hopes for quick recovery.
BlackRock (BLK) has become the first global asset manager to win regulatory approval to set up a mutual fund unit in China, as Beijing throws open its 17.7 trillion yuan sector. The world's biggest asset manager by assets got the green light on Aug. 21 to form a wholly-owned subsidiary in Shanghai, the China Securities Regulatory Commission said on its website late on Friday.
Japanese shares gained on Friday, as a jump in U.S. long-term bond yields following the Federal Reserve's new long-term policy strategy to allow higher inflation boosted financials and other battered value stocks. The Nikkei share average rose 0.36% to 23,290.80 and was on track for a weekly gain of about 1.6%. The broader Topix climbed 0.85% to 1,629.66, led by a 1.48% gain in Topix Value.
Daniel Loeb's hedge fund Third Point LLC took new positions in technology companies including Alibaba (BABA) and Amazon (AMZN) and reported strong returns in the second quarter after he took back the reins as sole chief investment officer in May. The billionaire investor who founded Third Point a quarter century ago also told clients in a letter seen by Reuters that he bought a stake in The Walt Disney Compa...
Nasdaq Inc (NDAQ) on Wednesday reported second-quarter profits that topped expectations as the company's technology-heavy indexes attracted record inflows and exchange volumes surged with more people trading from home while under COVID-19 lockdowns.
- Nasdaq Inc (NDAQ) on Wednesday reported second-quarter profits that topped expectations as the company's technology-heavy indexes attracted record inflows and exchange volumes surged with more people trading from home while under COVID-19 lockdowns.
Several companies that certify vessels are seaworthy and ship insurers have withdrawn services to tankers involved in the Venezuelan oil trade as the United States targets the maritime industry to tighten sanctions on the Latin American country.
Travel insurance policies will adapt to include provisions that allow travel overseas to selected countries under newly relaxed quarantine rules, British transport minister Grant Shapps said on Friday. "I think what we will find from discussions with the travel industry and insurers is that the insurance market will adjust to put provisions in for those countries," he told Times Radio.
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