Fortitude or denial? Wall Street’s steadiness last week in response to several tidy excuses for skittishness raises this question. The S&P 500 eased back just half a percent, holding within 1% of a record high, in a week that began with an oil-price spike following an attack on Saudi Arabia […]
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Roku could fall another 30% before finding a bottom, chart suggests
The streaming wars may have claimed a new victim. Roku shares plummeted nearly 30% last week, its worst weekly performance stretching to its 2017 IPO. The streaming platform stock was pummeled Friday after Pivotal Research slapped a sell rating and $60 price target on it, fearing a rush of competition […]
Time for the US and China to return to ‘serious communication’ on a trade deal: ex-Beijing official
The U.S. and China must work closely to reach a trade deal as their bilateral dispute has a global impact, said China’s former vice finance minister on Monday. “We hope that China and U.S. can reach an agreement with mutual respect, mutual benefit with equal treatment for each other,” said […]
Deutsche Bank, BNP reach transition agreement for global prime finance platform
Deutsche Bank and BNP Paribas reached a master transaction agreement to assure service continuity to Deutsche’s global prime finance and electronic equities clients, the banks said on Monday. Under the agreement, Deutsche Bank will continue to operate the platform until clients can be migrated to BNP Paribas, Deutsche said in […]
Asset managers are prepared for a hard Brexit, says chief of Aberdeen Standard Investments
The asset management industry is well-prepared to handle the United Kingdom’s looming departure from the European Union — with or without a deal, according to the chairman of a major British investment firm. Britain is set to leave the EU on October 31 but a deal has yet to be […]
New York Stock Exchange owner launches futures contracts that pay out in bitcoin
Chesnot | Getty Images Intercontinental Exchange, the owner of the New York Stock Exchange, launched its bitcoin futures contracts late Sunday, in a move aimed at enticing investors who have hesitated about trading the cryptocurrency. The first trade in the new contracts was executed on ICE’s futures exchange at 8:02 […]
‘Game of Thrones’ ends run with outstanding drama award, 59 total Emmy Awards
D. B. Weiss (C, speaking), David Benioff (3rd L) and cast and crew of ‘Game of Thrones’ accept the Outstanding Drama Series award onstage during the 71st Emmy Awards at Microsoft Theater on September 22, 2019 in Los Angeles, California. Kevin Winter | Getty Images Entertainment | Getty Images Despite […]
It will be a ‘disaster’ for Hong Kong if it ‘squanders’ its financial center status, China investor says
If Hong Kong loses its status as one of Asia’s top financial centers, it would be disastrous for the Asian financial hub, said the founder and chief executive officer of Citic Capital. There is “no lack of competition for financial centers,” said Zhang Yichen, who is also chairman at the […]
Chinese theft of trade secrets on the rise, the US Justice Department warns
As President Donald Trump puts pressure on Beijing to end unfair business practices, the Department of Justice has a warning for companies: Bolster your defenses. “More cases are being opened that implicate trade secret theft” — and more of them point to China, said U.S. Deputy Assistant Attorney General Adam […]
Trump’s Asia expert Matt Pottinger to become deputy national security advisor
Matt Pottinger, National Security Council Senior Director for East Asia, arrive for the opening ceremony of the Belt and Road Forum in Beijing, Sunday, May 14, 2017. Mark Schiefelbein | Getty Images U.S. President Donald Trump’s national security advisor said on Sunday that White House Asia policy advisor Matt Pottinger would […]