China Unveils Plan to Lure Big Tech Stock Listings Back Home

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Source: Bloomberg MarketsChina took a major step toward seeing Alibaba Group Holding Ltd., Baidu Inc. and others list in its domestic market, announcing a trial program that would allow the technology giants to see their shares bought and sold in the world’s most populous country.The State Council unveiled the plans on Friday, less than a month after the idea was first made … [Read more...]

Elon Musk Sends April Fools’ Tweets Joking of Tesla Bankruptcy

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Source: Bloomberg MarketsAfter the worst month for Tesla Inc. shares in more than seven years, punctuated by company blog posts about the death of a Model X driver, Elon Musk is joking about his electric-car maker going bankrupt.“Despite intense efforts to raise money, including a last-ditch mass sale of Easter Eggs, we are sad to report that Tesla has gone completely and … [Read more...]

Erdogan Attacks High Rates, Israel’s Response, Kosovo’s Leader

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Source: Bloomberg MarketsTurkish President Recep Tayyip Erdogan attacked supporters of high interest rates, condemned Israel for its actions in Gaza and reprimanded the leader of Kosovo during a string of speeches Saturday across the capital.Erdogan berated defenders of high interest rates, which he said are a source of “every evil in an economy,” and that advocates for keeping … [Read more...]

Asian Stocks Edge Higher; U.S. Treasuries Slip: Markets Wrap

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Source: Bloomberg MarketsAsian shares rose, the dollar steadied and Treasuries slipped as the second quarter began for some of the region’s traders. Volumes were subdued with many markets across the world still closed for the Easter holiday.Equities in Japan and China traded higher, though gains were pared as the session progressed. South Korean shares were little changed while … [Read more...]

China Urges More Trade Talks as Tariffs on U.S. Goods Begin

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Source: Bloomberg MarketsChina urged trade talks with the U.S. to prevent greater damage to relations while saying that previously announced retaliatory measures on American imports took effect Monday.The U.S. didn’t respond to China’s March 26 request for consultation on Washington’s steel and aluminum tariffs, the Commerce Ministry said in a statement Monday, adding that … [Read more...]

China to Trial CDRs, Startup Listings to Lure Tech Firms Home

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Source: Bloomberg MarketsChina will launch a pilot program aimed at luring innovative companies back to the mainland equity market, loosening listing rules for certain firms and offering its own form of depositary receipts.Companies that meet the following criteria will be eligible for the pilot, the State Council, China’s cabinet, said in a statement posted on its website late … [Read more...]

This 220-Year-Old German Bank’s Considering a Robo-Adviser for Companies

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Source: Bloomberg Markets(Machine translation provided by Google and reviewed by Bloomberg editors.)220-year-old Hamburg-based private bank M.M.Warburg & CO, which now uses an online asset manager to also attract private clients with smaller wallets, might expand this offer to semi-institutional customers by the end of the year, according to investment chief Christian … [Read more...]

Oil Industry’s Female Pay Gap Is Worse Among the Explorers

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Source: Bloomberg MarketsBeing a top female earner for a major integrated oil company is a rarity, but among the smaller explorers and producers it’s even more of an anomaly.Only 5 percent of people in the top pay quartile at the U.K. operations of Premier Oil Plc were women, according to figures the North Sea-focused explorer submitted to the government. That compares with 22 … [Read more...]

UBS Eyes Small Deals as Ermotti Sees Bank Consolidation in 2018

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Source: Bloomberg MarketsUBS Group AG is considering small acquisitions to complement its focus on organic growth as it reverses a shrinking of assets following the financial crisis.“Our focus is on organic growth. Of course we look at small acquisitions here and there to complement our portfolio,” Chief Executive Officer Sergio Ermotti told Bloomberg TV on the sidelines of the … [Read more...]

Sinopec Offers Record Dividend as Profit Surges

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Source: Bloomberg MarketsChina Petroleum & Chemical Corp., the world’s biggest refiner, will pay a record-high dividend as its massive fuels and chemical segments helped boost annual profit about 10 percent.Net income climbed to 51.1 billion yuan ($8.1 billion), the company known as Sinopec said in a statement to the Hong Kong stock exchange Sunday. The company proposed a … [Read more...]