News

Posted on May 10, 2024 by James Miller

Australian financial services firm Perpetual will sell its wealth management and corporate trust businesses to KKR & Co for A$2.18 billion. The company also announced the retirement of its CEO, Rob Adams. Perpetual’s decision to divest its corporate wealth arm comes 16 months after Perpetual acquired fund manager Pendal in a $1.6 billion deal.  KKR […]

Posted on May 8, 2024 by James Miller

Steward Health Care System LLC filed for Chapter 11 bankruptcy on May 6 amid efforts to secure a rescue loan with its landlord, Medical Properties Trust Inc. Private equity firm Cerberus Capital Management created Steward after acquiring six Catholic hospitals in 2010 but has since sold its interest to the company’s doctors. The Texas-based healthcare […]

Posted on May 7, 2024 by James Miller

The Malaysian government defended its decision to include companies supplying weapons to Israel at the Defense Services Asia and National Security Asia shows. The exhibitions feature over 1,300 companies from 60 countries, including U.S. arms manufacturer Lockheed Martin and European missile producer MBDA. This news comes following protests by a Palestinian solidarity group, which criticized […]

Posted on May 3, 2024 by James Miller

On Thursday, Hong Kong’s Hang Seng Index surged 2.5%, marking its entry into a bull market. Several gains across the tech, real estate, and entertainment sectors buoyed this despite the absence of mainland Chinese investors due to a holiday.  This rally coincided with a strategic shift by global investors reallocating from markets like Japan and […]

Posted on May 3, 2024 by James Miller

Tech stocks surged late after Apple Inc.’s robust outlook, with the company’s dividend increase and stock buyback plans fueling investor optimism. Following Apple’s positive results, a $250 billion Nasdaq 100 ETF rallied post-market, driven by expectations of sales growth and substantial buybacks. Additionally, anticipation builds around Friday’s jobs report amid a backdrop of climbing stocks, […]

Posted on May 3, 2024 by James Miller

Starbucks experienced a significant drop in its stock value, with shares down by 16% on Wednesday, following disappointing Q2 results. This is the most severe drop since March 2020. The company reported declines in revenue, earnings, and same-store sales, with global foot traffic also falling.  Despite these challenges, Starbucks’s CFO Rachel Ruggeri said that there […]

Posted on May 3, 2024 by James Miller

Mexico’s economy recorded a modest growth of 0.2% in the first quarter of 2024, slightly above economists’ quarterly expectations but below the expected annual growth rate. Ahead of a key central bank meeting, the economy showed a 1.6% year-on-year increase, under the forecasted 2.3%. The economic expansion comes as Mexico’s central bank, Banxico, considers whether […]

Posted on April 29, 2024 by James Miller

Microsoft reported robust fiscal third-quarter earnings, surpassing Wall Street expectations. The tech giant recorded earnings per share of $2.94 on $61.9 billion in revenue, mainly due to its cloud computing and artificial intelligence (AI) services. Microsoft’s commercial cloud revenue notably reached $35.1 billion, exceeding estimates and highlighting the strength of its cloud sector. CEO Satya […]

Posted on April 29, 2024 by James Miller

Portuguese oil company Galp Energia completed the initial phase of exploration in the Mopane field off Namibia’s coast, revealing potential reserves of at least 10 billion barrels of oil.  Testing operations at two wells discovered significant light oil columns in high-quality reservoir sands, with flows reaching the maximum limit of 14 thousand barrels per day. […]

Posted on April 29, 2024 by James Miller

In Ecuador’s recent referendum, voters endorsed President Daniel Noboa’s stringent security measures for combating drug trafficking but dismissed his economic reforms. The mixed results from Sunday’s voting signify a partial victory for President Noboa, who has been in office since November. The referendum served as a test of Noboa’s popularity, reflecting widespread approval of his […]