The Hong Kong-listed unit of Dalian Wanda saw its shares climb as much as 15 per cent on Wednesday after the company said it had agreed to sell its interest in a hotel and residential project in London, the latest move by the Chinese conglomerate following pressure from Beijing over its overseas acquisitions.
Hong Kong democracy activist Joshua Wong was sentenced to three months in jail on Thursday for his part in the 2014 Occupy protests, while fellow activist Raphael Wong received a sentence of four months and fifteen days amid an intensifying crackdown on dissent in the semi-autonomous city by Beijing and the local government.
Commanding officers for two US Navy destroyers that were involved in two separate collisions with other ships last summer face court martial proceedings and charges including negligent homicide, the US Navy said in a statement.
US tax reforms provided a $3.6bn boost to CSX’s profit during the fourth quarter. However, results from the freight rail operator underscore the challenges it faces as it looks to push ahead with its turnaround efforts following the unexpected death of chief executive Hunter Harrison in December.
A proposed takeover of Newcastle United appeared to have collapsed on Tuesday night as associate of Mike Ashley, billionaire owner of the English football club, claimed long-simmering talks with financier Amanda Staveley had proved “frustrating and a complete waste of time”.
Precious metals are one of the key beneficiaries of a weaker dollar and robust global growth. Palladium has surged to hit record levels of $1,140 a troy ounce this month, while gold is trading at a four-month high.
If there is a tipping point for cable — the nickname for the pound’s value against the dollar — it is the $1.40 level. Historically, the market tends to see $1.40 as a floor for the currency, and in the post-Brexit era, that floor is coming into view.
It’s not just Wall Street that is seeing records being shattered on Tuesday.
Brazilian equities also climbed to a new all-time high as investors ramp up bets that Latin America’s largest economy — despite its political dysfunction and endless corruption scandals — would get a lift from stronger US and global economic growth.
Qualcomm, the $100bn US chipmaker that is trying to fend off a hostile bid approach from rival Broadcom, laid out its case to shareholders on Tuesday, saying the company would be better off as a standalone company.
Informa is in talks to acquire UBM in a deal that will bring together the UK-listed operators of conventions and business information services, creating a company with a market value of more than £9bn.