Southeast Asia’s mobile payments face shakeout as market booms
Just next to Ho Chi Minh City’s financial district, two dozen street vendors’ stalls display colorful adverts for e-wallets backed by private equity firm Warburg Pincus, ride-hailing firm Grab and Singapore sovereign wealth fund GIC, among others.
Mexican billionaire Slim vows to invest in Mexico, touting economic prospects
Mexican billionaire Carlos Slim said on Wednesday that he expects to invest up to $5 billion in Mexican infrastructure during the current administration as he delivered a full-throated endorsement of the economy despite investor jitters.
IBM revenue misses on weakness in its biggest unit; shares fall 5%
International Business Machines Corp missed Wall Street estimates for quarterly revenue on Wednesday, as its global technology services unit was hit by weakness in some European markets, sending its shares down 5% in extended trading.
Still work to do on China trade deal, Mnuchin says
U.S. and Chinese trade negotiators still have work to do on a “phase one” trade agreement ahead of a targeted signing by U.S. President Donald Trump and Chinese President Xi Jinping next month, U.S. Treasury Secretary Steven Mnuchin said on Wednesday.
U.S. SEC freezes assets of 18 traders over alleged manipulation
The U.S. Securities and Exchange Commission said on Wednesday it has obtained an asset freeze against 18 traders over a market-manipulation scheme through which they reaped over $31 million in illicit profits.
Oil rises on hopes OPEC will extend supply cuts, weaker U.S. dollar
Oil rose on Wednesday, gaining support due to signs that OPEC and allied producers will continue to curb supplies in December, a weaker U.S. dollar and as traders covered short positions ahead of an industry report on U.S. crude inventories.
IBM quarterly revenue misses, shares fall
International Business Machines Corp missed analysts’ estimates for third-quarter revenue on Wednesday, overshadowing a profit beat and sending its shares down 3% in extended trading.
SEC freezes assets of 18 China-based traders over manipulation
The U.S. Securities and Exchange Commission said on Wednesday that it has obtained an asset freeze against 18 China-based traders over a market-manipulation scheme.
Wall Street slips as weak economic data offsets earnings strength
Wall Street lost ground on Wednesday as weak U.S. economic data and simmering geopolitical tensions spooked buyers away from the equities market, despite a string of generally positive third-quarter earnings reports.
Netflix shares jump as subscribers grow ahead of Disney, Apple attack
Netflix Inc added slightly more paying subscribers than Wall Street expected in the third quarter, a relief to investors who had worried the company might fall short just as Disney and Apple prepare to ramp up the streaming video wars.
