By Kim Richters Shares in Banco Bilbao Vizcaya Argentaria SA soared on Monday after the Spanish bank agreed to sell its U.S. arm to PNC Financial Services Group Inc. for $11.6 billion. At 0842 GMT, shares in BBVA traded 15% higher at EUR3.65. The companies said earlier on Monday that PNC Financial Services would acquire BBVA's U.S.
Diversification is one of the first rules of investing, as long as the assets you're investing in aren't highly correlated with each other
Vodacom Group made a net profit for the six months to Sept. 30 of 9.03 billion South African rand ($582.3 million). "Vodacom Group 1H Net Profit Rises; Reinstates Medium-Term Targets," at 0620 GMT, incorrectly said the company made a profit of 9.03 million South African rand.
By Dave Sebastian JD.com Inc. said its sales for the recent quarter rose 29% as the Chinese economy continued recovering with the loosening of Covid-19 restrictions. The ecommerce company on Monday posted a third-quarter profit of 7.56 billion Chinese yuan ($1.11 billion), or CNY4.70 per American depositary share, compared with CNY612.3 million, or CNY0.41 per American depositary a share, in the comparable quarter last year.
By Paul Clarke and Lina Saigol Of Financial News U.K. equity markets are shrinking faster than any of their European rivals as more companies choose to remain private and shun public markets. The number of companies listed on the London Stock Exchange fell by 21% in just eight years, according to a report for the European Commission by economics consultancy Oxera.
By Adria Calatayud Vodafone Group PLC said Monday that it swung to a pretax profit for the first half of fiscal 2021 and its results underline increased confidence in its full-year outlook. The U.K. telecommunications company made a pretax profit for the six months to Sept.
By P.R. Venkat A unit of China Evergrande Group has submitted a draft initial public offering prospectus for a listing in Hong Kong, the latest Chinese firm to tap the hot equities-fund raising market. Evergrande Property Services Group has appointed UBS, Huatai International among banks to advise on the offering, a draft prospectus filed with the Hong Kong Exchange late Sunday showed.
By P.R. Venkat Oil & Natural Gas Corp.'s second-quarter net profit fell 19% from a year earlier, as the coronavirus pandemic caused lower crude realization. ONGC said late Friday that net profit for the quarter ended September fell to 43.35 billion rupees ($581.2 million). Revenue was down nearly 18% at INR836.19 billion.
By P.R. Venkat Genting Singapore Ltd.'s third-quarter net profit fell 66% on year as the casino operator continued to face weak demand due to the Covid-19 pandemic. Net profit was at 54.45 million Singapore dollars (US$40.40 million), Genting said late Saturday. Revenue from its gaming operations were down 41% on year to S$212.92 million.
By Simon Clark Global banking giant HSBC Holdings PLC has made clear that its business destiny is in China. Its board, however, remains an Anglo-American affair. The London-based, Asia-focused bank appointed three board members along with a chief legal officer and a chief operating officer in the past 12 months.
Own an actively managed growth stock fund in a taxable account? You may well receive a tax bill, based on the latest round of mutual fund capital gain distribution estimates. Several growth funds are poised to pay out double-digit percentages of their net asset values, and many more are making payouts in the high single digits as a percentage of NAV.
By Chong Koh Ping and Xie Yu U.S. stock futures rose Monday after Democrat Joe Biden's electoral victory gave markets fresh impetus. Futures tied to the S&P 500 gained 1.3%, suggesting that last week's advance, the strongest since April, will resume after the New York opening bell.
By Xavier Fontdegloria An index measuring employment trends in the U.S. rose in October for the sixth consecutive month, but job creation pace is slowing, data from the Conference Board showed Monday. The Conference Board Employment Trends Index stood at 97.57 in October, compared with an upwardly revised 96.33 for September.
By Chong Koh Ping and Xie Yu U.S. stock futures rose Monday after Democrat Joe Biden's electoral victory and progress toward a Covid-19 vaccine gave markets fresh impetus. Futures tied to the S&P 500 surged 3.4%, suggesting that last week's advance, the strongest since April, will resume after the New York opening bell.
Mansueto's Waldorf deal underscores the painful new coronavirus reality for hotel investors, especially for luxury hotels like the Waldorf where demand has been the slowest to bounce back. Occupancy at downtown hotels that were open during the last week of October was just 19 percent, down 73 percent from the similar week in 2019, according to hotel research firm STR.
By Xie Yu China Evergrande Group, the heavily indebted property developer, has scrapped plans to list a key unit after striking deals with co-investors that should avert a near-term cash crunch. However, after abandoning the plan to take its Hengda Real Estate subsidiary public, Evergrande still needs to find ways to cut its borrowings so that it isn't in breach of official red lines on property-industry debt, analysts said.
By Maria Martinez German exports continued their recovery in September, albeit at a slower pace than in previous months, rising 2.3% from August in adjusted terms, statistics office Destatis said Monday. Economists had forecast a 2.4% increase in exports in adjusted terms, according to a poll by The Wall Street Journal.
Video: Morningstar's director of sustainability research Hortense Bioy explains why there has been a big jump in demand for ESG products this year
From healthcare to climate change, Morningstar analysts look at the implications of the Democratic Party victory in the 2020 Election
By Justina Lee Shares of Chinese technology stocks rose sharply Monday, as investor sentiment got a boost after major U.S. outlets reported that Joe Biden has won the U.S. presidential election. Among Chinese tech companies listed in Hong Kong, Semiconductor Manufacturing International Corp. jumped as much as 9.5% before trimming its gain to 7.3%.