Nerves on edge as Chinese authorities probe market mayhem
BEIJING/LONDON (Reuters) – The head of hedge fund manager Man Group Plc’s China business has been taken into custody to help authorities in a probe into recent market volatility, Bloomberg reported on Monday, while separately a local financial reporter…
China state media announce confessions in stock market investigations
SHANGHAI (Reuters) – Chinese state media announced a slew of confessions on Monday following investigations into dramatic stock market fluctuations, including from a reporter who said he had spread false information that had caused “panic and disorder”…
Internet entrepreneurs back Chinese Tesla rival NextEV
FRANKFURT/DETROIT (Reuters) – A group of deep-pocketed China-based internet entrepreneurs and financial investors, including Tencent and Hillhouse Capital, is backing an effort to create NextEV, a new rival to U.S. electric car maker Tesla Motors Inc .
Venture capital cash surfers may see waves recede in market turmoil
SAN FRANCISCO (Reuters) – The waves of cash surfed relentlessly by some of Silicon Valley’s largest venture-backed businesses are showing signs of receding amid concern the companies may already be worth more than their likely valuations once they fina…
U.S. appeals court rules for Argentine central bank in bond case
NEW YORK (Reuters) – Argentina’s central bank on Monday won the reversal of a U.S. court ruling that had allowed bondholders to try to hold it responsible for the country’s obligations on debt that has been in default since 2002.
Toshiba scandal continues as more accounting errors found
TOKYO (Reuters) – Toshiba Corp again delayed announcing its annual financial results on Monday, as new accounting errors prevented the company from drawing a line under Japan’s worst corporate scandal in four years.
Fiat Chrysler’s Marchionne says ‘unconscionable’ to give up on GM deal: paper
MILAN (Reuters) – It would be “unconscionable” for Fiat Chrysler Automobiles (FCA) not to pursue a merger with rival General Motors and create a company that can generate $30 billion a year in cash, FCA chief Sergio Marchionne said in a newspaper inter…
Europe, Asia stocks set for worst monthly drop in three years on China, Fed
LONDON (Reuters) – Stocks in Europe and Asia looked set on Monday for their worst monthly losses in at least three years, with investors still concerned about growth in China and the prospect of higher U.S. interest rates.
China stocks slide as crackdown on speculators spreads, lose 11 percent in August
SHANGHAI (Reuters) – China stocks fell sharply on Monday before recovering much of their losses as regulators cracked down on speculators which Beijing blames for a 40 percent crash in the country’s stock markets since June.
BNY Mellon expects to fix pricing glitch before markets open
(Reuters) – BNY Mellon Corp expects to fix the computer glitch that disrupted pricing of U.S. mutual funds and exchange-traded funds before markets open on Monday, its chief executive said.
