Alibaba launches $13.4 billion Hong Kong listing to fund expansion
Chinese e-commerce giant Alibaba Group launched the share sale for its Hong Kong listing on Wednesday, braving unrest in the global financial hub to try to raise up to $13.4 billion to fund its expansion plans.
Biotech-for-hire PeptiDream charts new path and becomes short target
The promise of PeptiDream Inc’s drug-discovery technology and its lucrative research-for-hire contracts have made it a darling of the Tokyo stock market. Now, those gains have made it a target for short-seller Muddy Waters.
Wall Street set for lower open as Trump speech clouds trade deal hopes
Wall Street was set to open lower on Wednesday after President Donald Trump threatened to “substantially” raise tariffs if China did not strike a trade deal with the United States and on escalating tensions in Hong Kong.
UBS boss Ermotti fears Europe’s banks ‘too small to survive’
UBS Group Chief Executive Sergio Ermotti on Wednesday said banking consolidation, especially in Europe, is unavoidable in coming years as institutions must achieve critical mass to remain competitive.
U.S. consumer prices increase more than expected in October
U.S. consumer prices rebounded more than expected in October and underlying inflation picked up, which together with abating trade tensions and fears of a recession, support the Federal Reserve’s signal for no further interest rate cuts in the near ter…
Alibaba opens bookbuild for Hong Kong listing: sources
Chinese e-commerce giant Alibaba Group has opened the trading books for its $13.4 billion Hong Kong listing, two sources with direct knowledge of the process told Reuters on Wednesday.
Google to offer checking accounts next year: source
Alphabet Inc’s Google will offer personal checking accounts from sometime next year in partnership with Citigroup Inc and a small credit union at Stanford University, a person familiar with Google’s plans said on Wednesday.
Alibaba to spend more on travel, entertainment after $13.4 billion listing
Chinese e-commerce giant Alibaba Group plans to ramp up investment in its online entertainment, content and travel platforms with the proceeds from a planned $13.4 billion Hong Kong listing.
Brexit drove Tesla to pick Berlin over Britain for new factory – report
Britain missed its chance to host the first European factory of U.S. electric vehicle pioneer Tesla because of Brexit, Chief Executive Elon Musk said in remarks reported on Wednesday.
UBS boss Ermotti says too-small European banks must consolidate
UBS Group Chief Executive Sergio Ermotti on Wednesday said banking consolidation, especially in Europe, is unavoidable in coming years as institutions must achieve critical mass to remain competitive.
