Record high aluminium prices likely to spur destocking
LONDON, Aug 16 (Reuters) – Record aluminium prices in the United States and Europe will be sustained by Russia’s mining tax for some months, but attempts to push prices even higher are likely to face headwinds from traders cashing in their stocks, analysts said.
HSBC snaps up Axa Singapore assets for $575 mln in Asia expansion
HSBC Holdings (HSBA.L) has agreed to acquire French insurer Axa’s (AXAF.PA) Singapore assets for $575 million, part of its strategy of scaling up its wealth-management business in Asia to boost fee income.
Analysis: Valuing China assets no easy task after $1 trillion wipeout
Any veteran investor will tell you that financial markets overshoot when trouble hits, but what if that market is the world’s second-largest economy and the government has decided the rules of the game have changed?
Oil prices drop amid faltering demand outlook in China
Oil prices fell by about 2% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indication that COVID-19 outbreaks are crimping the world’s second-largest economy.
Sydney Airport rejects improved $16.8 bln buyout bid, open to higher offer
Sydney Airport Holdings Pty Ltd (SYD.AX) on Monday rejected an improved A$22.80 billion ($16.81 billion) bid from a group of infrastructure investors, saying that it undervalued the airport operator, but that it was open to a higher offer.
Japan’s economy rebounds in Q2, COVID clouds outlook
Japan’s economy rebounded more than expected in the second quarter after slumping in the first three months of this year, data showed, a sign consumption and capital expenditure were recovering from the coronavirus pandemic’s initial hit.
Asia stocks slip as China’s economy stumbles
Asian shares slid on Monday after a raft of Chinese data showed a surprisingly sharp slowdown in the engine of global growth, just as much of the world races to stem the spread of the Delta variant of COVID-19 with vaccinations.
Aramco in advanced talks on up to $25 bln Reliance deal – Bloomberg News
Saudi Aramco (2222.SE) is in advanced talks to acquire a roughly 20% stake in Reliance Industries Ltd’s (RELI.NS) oil refining and chemicals business for about $20 billion to $25 billion in Aramco’s shares, Bloomberg News reported on Monday.
China’s Didi improves pay transparency for drivers
China’s Didi Global Inc (DIDI.N) said on Monday it will provide its drivers in several Chinese cities with more details on the fees they receive, the first big move by the ride-hailing giant after state media accused it of paying drivers unfairly.
Hyatt to buy Apple Leisure Group from KKR, KSL Capital for $2.7 billion
U.S. hotel operator Hyatt Hotels Corp (H.N) said on Sunday it entered a deal to buy resort company Apple Leisure Group from its private-equity owner KKR & Co (KKR.N) and travel-and-leisure specialist KSL Capital Partners for $2.7 billion in cash.
