Selling of shares in chipmakers and other Apple-linked companies continued at a slower pace in early Asia trading on Monday after tech stocks took a hit late last week on fears of weakening iPhone sales.
A Financial Times analysis of how the US tax overhaul has affected the accounts of the US’s 100 largest listed companies shows 61 of the top 100 quoted companies have reported an initial net income tax expense, amounting to a combined $168bn.
The sell-off in US Treasuries accelerated on Friday after upbeat commentary from Federal Reserve officials pushed benchmark yields to their highest level in more than four years and towards the 3 per cent mark.
Hammersonwas in demand on news that activist hedge fund Elliott Advisors had taken a 1.5 per cent stake, which heaped pressure on the management of the shopping centre developer after its decision to scrap a merger with Intu Properties.
Ion Investment Group has agreed to buy UK rival Fidessa in a deal worth £1.5bn, with the British trading technology group accepting a higher offer and switching its recommendation from a bid by Switzerland’s Temenos.
Japanese pharmaceutical group Takeda sweetened its offer for rival Shire by roughly £455m on Friday and shifted a significant portion of its proposal from stock to cash in a bid to win over the board of the Irish drugmaker.
Canadian inflation continued its upward march last month, hitting its highest level in more than three years. However the rise was less than expected and could bolster policymakers’ case for taking a cautious approach to future rate rises.