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(27-04-2011)
  • Dubai's Emaar says shareholders as of Sept. 10 to have priority in unit IPO
    Investors holding shares in Dubai's Emaar Properties at the end of trading on Sept. 10 will qualify for priority allotment in the flotation of its mall unit later this month, the developer said on Wednesday. Emaar plans to float at least 15 percent of its shopping malls and retailing unit on Dubai's main stock market and will list the shares in October, it said on Sunday. Ten percent of the offer will be reserved for Emaar Properties shareholders at the end of trading on Sept. 10, according to a bourse statement on Wednesday.More

  • KL shares open lower
    KUALA LUMPUR: Share prices on Bursa Malaysia opened lower today, in tandem with the lacklustre trading on Wall Street overnight.More

  • Credit Suisse says investigating allegations of employee misconduct

    National flags of Switzerland fly over the entrance of the headquarters of Swiss bank Credit Suisse in ZurichLONDON Sep 2 (Reuters) - Credit Suisse said it was investigating allegations of trader misconduct reported in The Wall Street Journal on Tuesday. The Wall Street Jour...


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  • Wall Street ends mixed, energy shares fall

    Trader Fred DeMarco works on the floor of the New York Stock ExchangeThe S&P energy index fell 1.3 percent as the prospect of slowing demand for oil in China and Europe and concerns about an oversupply of oil brought Brent crude oil futures to their lowest price since May 31, 2013. Peabody Energy Corp was the biggest loser among the S&P energy names, falling 3.7 percent to $15.29. The strengthening dollar, which rose to its highest this year against the yen, was also seen as weighing on oil prices. We're just seeing energy pulling back a bit after a very big market rally and taking a bit of time to digest those gains," said Adam Sarhan, chief executive of Sarhan Capital in New York.


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  • US stock market ends slightly lower

    FILE - In this Sept. 30, 2008 file photo, a Wall St. sign hangs in front of the New York Stock Exchange. U.S. stocks wavered in morning trading Tuesday, Sept. 2, 2014, as investors looked ahead to major economic reports out this week. (AP Photo/Mark Lennihan, File)NEW YORK (AP) — Concerns over weaker global growth appeared to overshadow strong reports about the U.S. economy Tuesday, nudging the stock market to a tiny loss.


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  • Novartis and Exelixis are big market movers
    Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Novartis AG, up $3.43 to $93.47 The drug developer presented positive data for ...More

  • US stock market closes mostly lower
    U.S. stocks are ending mostly lower as energy companies fall and investors look ahead to central bank meetings later this week.More

  • From Text to Online Video: the New Business Media Landscape

    From Text to Online Video: the New Business Media LandscapeFrom an initial glance at the top business press outlets, it may seem like everything is business as usual. Business leaders are still drawn to familiar publications like BusinessWeek, Forbes, Fortune, the Harvard Business Review and the Wall Street Journal, among others. But all of those publications are currently experiencing massive, rapid changes to the...


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  • Wall Street little changed after strong August, data

    Traders work on the floor of the New York Stock ExchangeFinancial data firm Markit said its final U.S. Manufacturing Purchasing Managers Index rose to 57.9 in August from 55.8 in July, marking its highest level since April 2010. A separate report from the Institute for Supply Management on the manufacturing sector rose to 59.0, its highest level since March 2011, from 57.1 the month before.


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  • South Africa stocks advance as Bidvest jumps
    South African stocks ticked higher on Monday, as Bidvest Holdings advanced after the industrial conglomerate said it could list its food unit in London, a potential windfall for investors. "We're quite fully valued across the board," said Abri du Plessis, a portfolio manager at Gryphon Asset Management in Cape Town. Bidvest, a conglomerate that spans shipping to office furniture, said it is considering a London stock market listing for its food business. The company has long acknowledged the need to separate that unit from the rest of the group, saying its true value has not been reflected fully reflected in Bidvest's share price.More

  • South Africa's Bidvest considers London listing for food busines
    By Tiisetso Motsoeneng JOHANNESBURG (Reuters) - South African conglomerate Bidvest is considering a London stock market listing for its food business to help to fund future growth, the company said after announcing an 11 percent rise in annual profit. Bidvest's diverse operations from auto showrooms to shipping and office furniture make it South Africa's second-biggest company by sales, but it has long acknowledged the need to separate its food business from the rest of the group because its true value was not fully reflected in its share price. "Markets are particularly buoyant, money is cheap and there's quite a lot of demand for this particular asset," Bidvest Chief Executive Brian Joffe told reporters in a conference call. Bidvest, which in 2011 rejected buyout bids for the business on the grounds that they would not have benefited shareholders, said on Monday that a separate listing would unlock value because it is becoming increasingly difficult to fund growth with a South African balance sheet.More

  • Britain's FTSE edges lower; HSBC, Tesco hurt by stake sales
    * HSBC, Tesco (Xetra: 852647 - news) hit as key shareholders cut stakes * New York stock market closed for public holiday * BAE Systems (LSE: BA.L - news) boosted by BofA ML upgrade -traders LONDON, Sept 1 (Reuters) - Britain's top equity index edged lower on Monday, pressured by weakness in bank HSBC and supermarket retailer Tesco after key shareholders sold stakes.More

  • Buyout offer from Blavatnik sends Perform shares surging back to flotation price
    Len Blavatnik's investment group Access Industries made a bid to take sports rights group Perform private on Monday, sending Perform shares soaring back to their flotation price after a bumpy three-year ride. Perform buys online rights to major sports events and supplies video clips, live action and sports news and data to media groups and bookmakers. The bid values the company, including Access's existing 42.5 percent stake, at 700 million pounds. Shares of Perform surged on news of the offer, which at 260p per share matches the price at which the company was floated on the London stock market in 2011.More

  • Passive funds an active threat for Europe's fund managers
    * Warren Buffett flags support for 'passive' investing LONDON, Aug 31 (Reuters) - Warren Buffett built a fortune of nearly $60 billion from astute stock picking, but when the 83-year-old dies, the vast majority of the money he leaves his wife will be parked in a fund that simply moves in step with an index. The afterlife plans of the man nicknamed the Sage of Omaha, revealed in a letter to his investors earlier this year, underline a sea change afoot in the investment industry. Fed up with high fees and poor performance, investors are increasingly shunning active fund managers who promise to beat the stock market in favour of cheaper, passive funds, which simply track it.More

  • Tesco tumbles again as Britain's FTSE edges lower
    * Tesco (Xetra: 852647 - news) falls again as top shareholder cuts stake * New York stock market closed for public holiday LONDON, Sept 1 (Reuters) - Britain's top equity index edged lower on Monday, as another sharp fall in the share price of supermarket retailer Tesco pegged back the overall stock market. The blue-chip FTSE 100 index fell by 0.1 percent, or 7.06 points, to 6,812.69 points in early trading.More

  • No foreign investment in Makkah projects
    Foreigners will still not be able to invest in three companies despite measures to open up Saudi markets to overseas investors, according to a study by the Makkah Chamber of Commerce and Industry (MCCI). The report outlined that the foreign investment bylaw in the Saudi stock market has banned foreign investors from purchasing or owning shares in companies working in Makkah and Madinah.More

  • Samsung's shipbuilding, engineering units to merge

    South Korean shipbuilder Samsung Heavy Industries' tanker-shaped vessel is seen at a southern shipyard in Geoje, on November 30, 2013The shipbuilding and engineering units of South Korea's Samsung group said on Monday they would merge, as the family-run giant gears up for generational ownership succession. The board members of Samsung Heavy Industries, the world's third-largest shipmaker, and Samsung Engineering had approved the tie-up via a share swap, said a joint statement. Samsung Heavy focuses on shipbuilding and offshore plants while Samsung Engineering build onshore energy plants around the world. Share price of Samsung Heavy and Samsung Engineering jumped by 6.61 percent and 12.2 percent, respectively, on Seoul stock market Monday.


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  • Italy - Factors to watch on September 1
    POLITICS Rome, Spending Review. Carlo Cottarelli meets reporters on cutting the number of publicly-owned local service companies (1300 GMT). Rome, Prime Minister Matteo Renzi to hold news conference on government reform plans. COMPANIES FIAT The chief executive of Fiat-Chrysler, Sergio Marchionne, said on Saturday that Oct. 13 was the most likely date for the listing of the group on Wall Street and did not rule out a possible capital increase at the world's No. 7 auto group.More

  • Asia stocks rise on S&P high, China stimulus hopes

    FILE - The New York Stock Exchange is shown, Tuesday, Aug. 9, 2011 file photo taken in New York. Global stock markets were muted Thursday Aug. 28, 2014 ahead of U.S. economic data and possible policy announcements from Japan.(AP Photo/Mark Lennihan, File)BEIJING (AP) — Asian stock markets rose Monday, lifted by another record high on Wall Street and expectations of stimulus in China after its manufacturing growth slowed. Investors looked ahead to this week's U.S. employment figures and a meeting of Europe's central bank for signs of stimulus steps.


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  • China Inc's second-quarter earnings bounce - official newspaper
    The net profits of China's listed companies grew slightly faster in the second quarter in line with the country's improving economic performance, although the first half was weaker than the same time last year, an official newspaper said Monday. China's economic growth picked up slightly in the second quarter as a burst of government stimulus paid dividends, although analysts said Beijing would likely need to offer more support to meet its annual growth target of 7.5 percent as the property market hit hard times. China's 2,558 listed companies posted combined net profits of 1.27 trillion yuan in the first half of this year, the newspaper said. China's first-half earnings reporting season, which kicked off on July 1, ended on Sunday.More