Hedge funds betting against China eye ‘Soros moment’
LONDON (Reuters) – A handful of mainly U.S.-based macro hedge funds have led bets against China’s yuan since late last year and the coming weeks should tell how right they are in predicting a devaluation of between 20 and 50 percent.
Investor Paulson’s personal assets to back loan to hedge fund
BOSTON (Reuters) – Billionaire investor John Paulson has put up part of his personal fortune as collateral to back a credit line for his $18 billion hedge fund Paulson & Co., a government filing shows.
China’s fickle fake stores cool on Apple – for now
(Reuters) – At 22, Cheung is already a veteran of China’s imitation game. A month ago, she was peddling the latest iPhones and accessories in one of several copycat Apple Inc stores along a street of gadget outlets in the southern city of Shenzhen.
Twitter names AmEx executive Leslie Berland as CMO
(Reuters) – Twitter Inc named American Express Co executive Leslie Berland as its chief marketing officer, Chief Executive Jack Dorsey tweeted on Tuesday.
OPEC, Russia talk of oil teamwork, but Saudi talks of investment
LONDON (Reuters) – Senior OPEC and Russian oil industry officials stepped up vague talk on Monday of possible joint action to remedy one of the worst supply gluts in decades, while Saudi Arabia signaled its resolve to allow the market to balance itself…
Sprint’s losses shrink on cost cuts, subscriber gains
(Reuters) – Sprint Corp, the No. 4 U.S. wireless carrier, on Tuesday reported a smaller-than-expected quarterly loss, helped by cost-cutting measures and subscriber additions amid its turnaround efforts.
Hurdles remain as Iran seeks aviation investment
TEHRAN (Reuters) – Iran courted Western aviation firms this week with a blueprint of regulatory reforms aimed at setting aside 40 years of sanctions and rebuilding its airways with new jets.
Markets back on the rack
LONDON (Reuters) – World markets were back in sell-off mode on Tuesday as a 6 percent slump in Chinese shares following more weak data there and oil’s slide below $30 a barrel again led to a renewed bout of selling.
Top VW committee to meet Feb. 3 to discuss crisis: sources
BERLIN (Reuters) – Volkswagen’s top committee will meet for the third time in three weeks on Feb. 3, as it continues to grapple with a scandal over rigged diesel emissions tests more than four months after it broke, people familiar with the matter said…
Nigerian minister tells MTN to drop lawsuit over fine
ABUJA (Reuters) – South African cellphone operator MTN should drop its legal action over a $3.9 billion fine imposed in Nigeria to help facilitate talks on a possible settlement, the Nigerian telecommunications minister said on Tuesday.
