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Expensive Shake Shack short bets may have paid off

Expensive Shake Shack short bets may have paid off

SAN FRANCISCO: Investors short-selling Shake Shack Inc may have made money over the past week, even after paying exorbitant interest rates to borrow the stock. The fast-casual burger chain’s Aug. 10 quarterly report beat Wall Street’s expectations, but that was not enough to prevent a slide in the stock, which had traded at sky-high valuations […]

August 22, 2015 | By | Reply More
Private equity firms team up to bid for Tesco’s $6b S.Korea unit

Private equity firms team up to bid for Tesco’s $6b S.Korea unit

SEOUL/HONG KONG: Private equity firms have formed three separate teams to bid for Tesco’s South Korean business valued at about $6 billion, four people with knowledge of the matter said on Friday, in what is tipped as Asia’s biggest ever private equity deal. Asia-based Affinity Equity Partners has linked up with US private equity firm […]

August 22, 2015 | By | Reply More
Global stocks rout on investors’ fears over world economy

Global stocks rout on investors’ fears over world economy

LONDON: World stock markets were hammered with heavy losses on Friday, as China’s economic woes triggered European and Wall Street equity sell-offs and stirred up fears for global growth. In Europe, London’s benchmark FTSE 100 index sank 2.83 percent to close at 6,187.65 points, falling for the ninth consecutive day and wiping £160 billion off […]

August 21, 2015 | By | Reply More
1MDB says confident of sealing sale of power assets by Q4

1MDB says confident of sealing sale of power assets by Q4

August 21, 2015 The selling of assets parked under its power unit Edra Global Energy Bhd is a major plank of 1MDB’s efforts to reduce its $11 billion debt. KUALA LUMPUR: Debt-laden state fund 1Malaysia Development Bhd (1MDB) said it is confident a deal on the sale of its power assets, which have been valued […]

August 21, 2015 | By | Reply More
Dovish Fed minutes fail to lift Ringgit much on China woes

Dovish Fed minutes fail to lift Ringgit much on China woes

SINGAPORE: Emerging Asian currencies lacked upward momentum on Thursday despite reduced expectations of a US interest rate hike in September as worries about China’s growth and continuing volatility in its stocks hurt sentiment. The Malaysian ringgit weakened even after Prime Minister Najib Razak said he would not peg the currency orimplement capital controls in a […]

August 21, 2015 | By | Reply More
Japan cautions China against frequent yuan manipulation

Japan cautions China against frequent yuan manipulation

August 21, 2015 TOKYO: Japanese Finance Minister Taro Aso on Friday warned China against frequent manipulation of yuan rates, saying that Tokyo would face a tough decision on how to respond to any such interventions from Beijing. Aso urged China to continue shifting its currency market towards a market-oriented system. In a move that shook […]

August 21, 2015 | By | Reply More
Axiata to restructure $590 mln loan to shield against forex moves

Axiata to restructure $590 mln loan to shield against forex moves

August 21, 2015 KUALA LUMPUR: Axiata Group Bhd, Malaysia’s biggest mobile operator by market value, said it plans to restructure a $590 million loan in Indonesia into a local currency-denominated partial sukuk to reduce its exposure to forex volatility. “We are talking to a bank and we are in the final stage of signing the […]

August 21, 2015 | By | Reply More
Chinese trading rivalry ruffles Asian oil markets

Chinese trading rivalry ruffles Asian oil markets

BEIJING/SINGAPORE,: An intensifying rivalry between China’s two top oil traders Chinaoil and Unipec is whipsawing Asia’s oil market, pitting the state-owned firms against each other in a battle for control of the region’s crude benchmark. Aggressive trading – with heavy buying by Chinaoil met by selling from Unipec – has pushed up Middle East crude […]

August 20, 2015 | By | Reply More
Singapore fund managers’ assets hit $1.7 trillion in 2014

Singapore fund managers’ assets hit $1.7 trillion in 2014

August 21, 2015 SINGAPORE: Fund managers in Singapore posted a 30 percent year-on-year increase in assets under management to S$2.4 trillion ($1.71 trillion) in 2014, with more than half of it sourced from the Asia-Pacific region, Singapore’s central bank said on Thursday. “The robust growth was derived largely from positive asset inflows arising from Asia’s […]

August 20, 2015 | By | Reply More
Twitter shares tumble back to IPO price

Twitter shares tumble back to IPO price

August 21, 2015 NEW YORK: Twitter shares sank to an all-time low Thursday before closing at their initial public offering price from 2013, as growth concerns intensified over the one-to-many messaging platform. The shares sank as low as $25.92, falling for the first time below the $26 level of Twitter’s November 2013 IPO. At the […]

August 20, 2015 | By | Reply More