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Xiaomi lowers target as it kicks off IPO

HONG KONG: Chinese smartphone maker Xiaomi kicked off its initial public offering yesterday but the firm is likely to pull in about US$6.1 billion, far less than originally expected, with investors having mixed views about its main business. Xiaomi had hoped to raise US$10 billion with the Hong Kong IPO, making it the biggest since […]


M&A ‘mega deal’ frenzy evokes 1999 tech boom and bust

LONDON: By some measures, the global merger and acquisition frenzy has never been greater, fuelled by ‘TMT’ mega deals that are drawing comparisons with the late 1990s boom and spectacular bust. This is understandably unnerving many investors, given how mature the economic cycle and equity bull markets are right now. The US economic expansion is […]


US pork, fruit producers brace for second wave

BEIJING/CHICAGO: US producers of pork, already saddled with duties enacted in an earlier round of the escalating trade dispute with China, are bracing for further pain after Beijing hit the products with additional tariffs due to come into effect next month. China implemented a 25 per cent duty on most US pork items on April […]


Washington's 'capricious' trade actions will hurt US workers, China warns

BEIJING, June 21 — China’s commerce ministry on Thursday accused the United States of being “capricious” over bilateral trade issues, and warned that the interests of US workers and farmers ultimately will be hurt by Washington’s penchant…


China warns Washington's trade actions will hurt US workers, farmers

BEIJING, June 21 — China's commerce ministry today accused the United States of being temperamental over bilateral trade issues, and warned that the interests of U.S. workers and farmers ultimately will be hurt. China believes its previous trade…


China could strike back at Dow-listed firms over trade, says Global Times

BEIJING, June 21 — China could hit back at US firms listed on the Dow Jones Industrial Average if US President Donald Trump keeps exacerbating tensions with China over trade, state-controlled Chinese tabloid the Global Times said today. Trump…


Bursa retreats after opening higher

KUALA LUMPUR, June 21 — Bursa Malaysia opened higher, but retreated thereafter today, amid the mixed performance of regional peers and as markets remained uncertain about the US-China trade spat. A 9.05am today, the benchmark FTSE Bursa Malaysia…


GE kicked out of Dow, the last 19th century member removed

NEW YORK, June 20 — General Electric Co suffered a crowning ignominy yesterday as overseers of the Dow Jones Industrial Average kicked the beleaguered company out of the stock gauge it has inhabited for more than a century. Once the world’s most…


Wall Street advances as media stocks gain; Nasdaq hits record

NEW YORK, June 20 — Technology and media stocks pushed Wall Street higher today and helped the Nasdaq hit a record high, as markets eyed a recovery after being battered by a rapidly escalating China-US trade tensions. Twenty-First Century Fox…


UK companies said to face pre-Brexit tax bombshell from EU

LONDON, June 20 — The European Union is on course to hand dozens of UK-based companies a pre-Brexit tax bombshell, according to people familiar with a state-aid probe that could lead to bills exceeding £1 billion (RM5.2 billion.) A decision in…