Friday, September 13th, 2019

 

Hong Kong exchange vows to press on with US$39b LSE bid after rebuff

LONDON, Sept 13 — The Hong Kong exchange refused to give up on its bid to take over the London Stock Exchange after the LSE emphatically rejected the Asian bourse’s US$39 billion takeover offer today. The Hong Kong exchange said it will now hold…


PG&E announces US$11b settlement in deadly California fires

WASHINGTON, Sept 13 — Bankrupt US utility company Pacific Gas and Electric announced today it has reached an US$11 billion settlement with insurance companies over the deadly wildfires in California last year blamed on faulty power lines. The San…


US stocks open higher, flirting with records

NEW YORK, Sept 13 — Wall Street brushed off the ominous date and pushed higher at the open today, stoked by relief that President Donald Trump’s trade war with China appears to be inching towards a resolution. China announced today it will…


Bundesbank chief slams ECB’s Draghi for ‘overshooting the mark’

BERLIN, Sept 13 — The head of Germany’s Bundesbank today hit out at ECB chief Mario Draghi for “overshooting the mark” with his huge stimulus package aimed at propping up the flagging eurozone economy. “Such a far-reaching package was not…


Ideal to acquire 1st Avenue Mall in George Town for RM153m

GEORGE TOWN, Sept 13 — Ideal United Bintang International Berhad (IUBIB) has announced to Bursa Malaysia its proposed acquisition of 1st Avenue Mall in George Town at RM153 million today. The company’s subsidiary, I Homes Properties Sdn Bhd…


Google agrees nearly €1b tax settlement with France

PARIS, Sept 13 — US internet giant Google has agreed a settlement totalling €965 million (RM4.46 billion) to end a tax dispute in France under an agreement announced in court yesterday. The company will pay a €500-million fine for tax evasion,…


Pound jumps on Brexit hopes as global stocks firmer

LONDON, Sept 13 — The British pound hit a seven-week high against the dollar today on easing fears of a no-deal Brexit. Stock markets meanwhile won support after China said some US agricultural products including pork and soybeans would be exempt…



London Stock Exchange rejects Hong Kong takeover bid

LONDON, Sept 13 — London Stock Exchange has rejected Hong Kong Exchange’s US$39 billion takeover offer, opting to stick with its planned purchase of data and analytics group Refinitiv. The LSE said in a statement that it has fundamental concerns…


Report: EPF-held shares’ value slip RM8b since late June to RM150b

KUALA LUMPUR, Sept 13 — The Employees Provident Fund’s (EPF) saw the value of its 191 stocks decline from RM157.87 billion since late June to RM149.94 billion this Wednesday, a report has said. According to business news outlet The Malaysian…