The S&P 500 will start excluding companies that issue multiple classes of shares, managers of the index said on Monday, a move that effectively bars Snap after its decision to offer stock with no voting rights. The decision takes effect starting Tuesday, according to a statement by the manager of the widely used benchmark, S&P […]
Read moreWorkers at the Bank of England (BOE) walked out on strike on Tuesday for the first time in five decades, over a pay dispute. Employees working in the central bank’s maintenance and security departments, will continue the industrial action over the next three days. Staff employed in the bank’s “parlors” – ground floor offices where […]
Read moreChinese President Xi Jinping issued a tough line on national sovereignty Tuesday amid multiple territorial disputes with his country’s neighbors, saying China will never permit the loss of “any piece” of its land to outsiders. Xi’s declaration came during a nearly one-hour speech in Beijing marking the 90th anniversary of the founding of the People’s […]
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Hedge fund Man Group's assets jump in first half, flags slower second-half
British hedge fund firm Man Group said on Tuesday that its assets under management rose 19 percent in the first half of 2017, but cautioned growth is set to slow over the next six months. Total assets under management at the end of the first half of the year were $95.9 billion, up from $80.9 […]
Read moreThe bloom is off seed funding, the business of providing money to brand-new start-ups, as investors take a more measured approach to financing emerging U.S. technology companies. Seed-stage financing has been sliding for the last two years, with the number of transactions down about 40 percent since the peak in mid-2015, data show. Dollar investments […]
Read moreChinese ride-sharing company Didi Chuxing is to invest in and collaborate with Uber rival Taxify to grow its network across Europe, Africa and Asia. This story is developing. Please check back for further updates. Click here for the latest on the markets. Source: Tech CNBC Didi Chuxing says to invest and partner with Uber's European […]
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BP profits hit by Angola write-off, CEO says it's preparing for 'new oil price environment'
BP beat analyst expectations on Tuesday, despite profits more than halving from the first three months of the year after a hefty charge from an unsuccessful project in Angola. Here are some of the highlights from the earnings: Underlying replacement cost profit, used as a proxy for net profit, $684 million in the second quarter […]
Read moreAnbang Insurance Group, whose chairman was detained in June, on Tuesday denied a report that it had been told by regulators in China to sell its overseas assets. Bloomberg reported on Monday that Anbang, best-known overseas for the record-breaking purchase of the Waldorf Astoria hotel in New York, was told to make the disposals and […]
Read moreWith the Reserve Bank of Australia expected to keep its benchmark rate unchanged on Tuesday, market watchers turned their attention to possible comments the central bank may make about the local currency. The Australian dollar climbed from $0.76 to above $0.80 over the last month, partly due to the weakness in the greenback. “With mining […]
Read moreThe abrupt dismissal of White House communications director Anthony Scaramucci less than two weeks after his appointment may be linked to the outspoken financier’s China dealings. The firing has been widely attributed to Scaramucci’s verbal tirade to a reporter in addition to orders from new chief of staff John F. Kelly. But there’s a third […]
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