Tokyo bourse overhaul spurs prime market push for Japanese firms
Tighter requirements to stay on the Tokyo bourse’s prestigious main board are forcing Japanese companies to cease long criticised practices such as cash-hoarding and cross shareholdings, even as some investors call for tougher reform.
Papua New Guinea-focused Oil Search rebuffs $6.5 bln Santos bid
Oil Search (OSH.AX) rejected an unsolicited takeover proposal from Santos Ltd (STO.AX) valuing the Papua New Guinea-focused oil and gas producer at A$8.8 billion ($6.5 billion), but both companies said on Tuesday they wanted to pursue further talks.
Japan goes nuclear in bid to stay cool during Summer Olympics
Japan has rebooted extra power plants, including a long-dormant nuclear reactor, and taken other steps to avoid a power crisis as temperatures soar and demand for cooling surges, especially in Tokyo, where the Olympics begin on Friday.
Wall Street ends sharply lower as Delta variant sparks new lockdown fears
A surge in Delta variant infections sparked a broad sell-off on Wall Street on Monday as investors feared renewed COVID-19 shutdowns and a protracted economic recovery.
Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases
Oil slumped $5 a barrel on Monday, closing out its worst day since March, after an OPEC+ agreement to boost output stoked fears of a surplus just as rising COVID-19 infections once again threaten demand.
Bill Ackman rejigs Universal deal after regulators probe SPAC plan
Billionaire investor Bill Ackman will buy up to 10% of Vivendi’s (VIV.PA) Universal Music Group through his main hedge fund, rather than a special purpose acquisition company, after investors and regulators questioned his use of a SPAC.
World Bank trims East Asia, Pacific GDP forecast amid COVID-19 concerns
Growth in East Asia and the Pacific this year will likely be slower than previously thought, the World Bank said on Thursday, as many countries in the region grapple with spikes in COVID-19 cases, new variantsand vaccine supply constraints.
BlackRock profit beats as assets grow to a record $9.5 trillion
BlackRock Inc (BLK.N), the world’s largest asset manager, reported a better-than-expected quarterly profit on Wednesday as investors poured more money into the company’s funds, driving robust fee growth and boosting its assets under management to a record high.
AMC, GameStop shares fall to half of their June peaks
Shares of cinema operator AMC Entertainment (AMC.N) and video game retailer GameStop Corp (GME.N) fell sharply on Wednesday and were both trading below half their recent peak prices, testing the fortitude of the stocks’ retail shareholders.
S&P 500 ends higher after Fed Chair Powell lulls market
The S&P 500 ended with a gain after briefly hitting an intra-day record in a choppy session on Wednesday, as investors balanced worries about inflation with reassuring comments from Fed Chair Jerome Powell.
