Scott Murdoch (REUTERS) HONK KONG Alibaba Group will carry out Hong Kong’s first paperless stock market listing with its $13.4 billion share sale, according to a source with knowledge of the matter, ending the long-held tradition of Hong Kong investors queuing in bank branches to place stock orders. The decision to fully...
Edward Taylor (REUTERS) FRANKFURT To unclog bottlenecks last year at his Tesla Inc (TSLA.O) plant in California, Elon Musk flew in six planeloads of new robots and equipment from Germany to speed up battery production for its Model 3. Now the Tesla CEO is trying to tap that German automation ecosystem directly...
Michael Nienaber and Rene Wagner /(REUTERS) BERLIN The German economy escaped a recession in the third quarter as consumers, state spending and construction drove a 0.1% quarterly expansion, defying expectations of another contraction in Europe's largest economy, preliminary data showed on Thursday. On an annual basis, gross domestic product expanded 0.5% from...
John Geddie (REUTERS) SINGAPORE Singapore said on Thursday it had levied an S$11.2 million ($8 million) fine on Swiss bank UBS after investigations showed its advisors deceived clients over prices for bonds and structured products. The Monetary Authority of Singapore (MAS) said UBS had reported certain malpractices in Hong Kong and Singapore...
KUALA LUMPUR (REUTERS) KUALA LUMPUR Malaysia signed a pact on Thursday for exports of palm oil to south Asia next year, amid uncertainty over trade with India after its dealers last month urged a boycott of palm oil from the southeast Asian nation. In October, India's top vegetable oil trade body told...
Kaori Kaneko and Daniel Leussink (REUTERS) TOKYO Just as Shinzo Abe becomes Japan's longest-serving prime minister, he may be leading the world's third-biggest economy into a downturn, with little ammunition left over from his landmark "Abenomics" stimulus policies deployed seven years ago. The three arrows of Abenomics - bold monetary easing, fiscal...
Sam Nussey and Chris Gallagher (REUTERS) TOKYO SoftBank's Yahoo Japan is in talks to merge with messaging app operator Line Corp to create a $27 billion tech giant and help the Japanese conglomerate expand e-commerce and payments services. Yahoo Japan, which last month changed its name to Z Holdings, said on Thursday...
Phuong Nguyen and Mas Alina Arifin (REUTERS) HANOI/BANDAR LAMPUNG, Indonesia Coffee trading in Vietnam picked up slightly ahead of the main harvest expected from mid-November, while the Indonesian market was dull as harvest season has passed, traders said on Thursday. Farmers in the Central Highlands, Vietnam's largest coffee-growing area, sold coffee at...
  Wayne Cole(REUTERS) SYDNEY The Australian dollar was heading for heavy weekly losses on Friday as rate-cut risk returned with a vengeance, while its New Zealand neighbour went the other way after a policy easing was ruled out for at least a couple of months. The Aussie was pinned at $0.6796, having lost...
Tabita Diela and Nilufar Rizki (REUTERS) JAKARTA Indonesia swung to a trade surplus in October due to a slower-than-expected drop in exports, despite weak global trade amid the U.S.-China trade war, data from the statistics bureau showed on Friday. Southeast Asia's largest economy recorded a trade surplus of $161.3 million in October,...