Fitbit has denied receiving a takeover bid after a little-known Chinese fund made a regulatory announcement purporting to describe a $2.8bn offer for the fitness tracker maker. In a filing that appeared on the US Securities and Exchange Commission’s website on Thursday, ABM Capital said it had written a letter to Fitbit’s management offering to […]
Category: Markets
Hong Kong’s securities regulator plans to bring more cases against investment banks for shoddy work on initial public offerings, the body’s enforcement chief said Wednesday, The Wall Street Journal reports. Tom Atkinson, head of enforcement at Hong Kong’s Securities and Futures Commission, said in one of his first public addresses since taking up the post that […]
Traders, investors and analysts rode whipsawing markets Wednesday, as US presidential election results – in a surprise reversal – showed increasing support for a victory by Republican Donald Trump. Japanese and Korean investors pushed their stocks higher, in expectation of a win for Democratic candidate Hillary Clinton with encouragement from early polls. By mid afternoon in Tokyo, with voting […]
Chinese hedge funds are providing margin finance for leveraged bets on the country’s booming commodity futures market, in an echo of last year’s stock market boom and bust, the Financial Times reports. Futures prices for the so-called ferrous complex of steel, iron ore, coking coal and coke have risen sharply this year as Chinese fiscal […]
Although shares of Alibaba have surged 77% in price from a low in September 2015, many investors are selling the company short, anticipating trouble ahead for the Chinese e-commerce giant, The Wall Street Journal reports. Alibaba, which has posted a string of quarters showing revenue gains, has appealed to investors as a way to profit […]