• Wellington Hits One Million Mark With its Innovative IoT Solution

    Wellington Drive Technologies ("Wellington"), a leading provider of Internet of Things (IoT) solutions and energy efficient motors to the retail food and beverage industry, is pleased to announce that its world-leading Connect IoT platform has now sold over one million units since its launch in December 2016. This includes approximately 400,000 units sold in 2019.


  • China Virus Outbreak Thwarts Most Bullish Stock Market in Years

    (Bloomberg) -- A virus outbreak in China is sending shockwaves through the country’s stock market, denting what had been growing enthusiasm toward shares.Consumer shares led losses in the FTSE China A50 Index of large caps Tuesday, which was set for its biggest drop in almost five months. Investors also sold crowd favorites such as liquor makers Wuliangye Yibin Co. and Kweichow Moutai Co., while travel operator China International Travel Service Corp. fell as much as 4.5%. The offshore yuan slid as much as 0.5%, briefly trading on the weak side of 6.9 per dollar.The declines come just days before China celebrates the Lunar New Year, a typically strong season for traveling and consumer spending. Now, there’s doubt that markets can continue their ascent after the week-long break.“People are getting nervous and cashing out,” said Wang Chen, a Shanghai-based partner with XuFunds Investment Management Co. He said his firm has cut some stock positions this week. “We have a long holiday coming up and the virus outbreak, and there was a bit too much hype in the market recently. Outflows via the northbound links and upcoming earnings season are also adding to caution.’Northbound stock links with Hong Kong will be shut for 5 trading days from Friday. After months of buying, foreigners had sold a net 6.7 billion yuan ($971 million) of mainland-listed shares as of 2:00 p.m. local time, set for the most since early August.It marks an abrupt shift in market confidence, which was riding high as Beijing signed a phase one trade deal with the U.S. and data signaled China’s economy was stabilizing. Investors had driven margin debt past the key 1 trillion yuan level to the highest since February 2018. Privately offered funds boosted their stock positions to the highest since early 2015, and analysts were the most bullish on large caps since late 2014.Healthy inflows had helped the Shanghai Composite Index gain nearly 8% since a November low, making it one of the best performers among global benchmarks in that time. Chinese investors lifted their leverage to about 1.04 trillion yuan to chase the rally.With liquidity support from the People’s Bank of China and government stimulus, analysts have been expecting a brighter earnings outlook for China-listed firms.Net income for CSI 300 Index companies other than banks may have grown 21% in 2019, helped by tax breaks, according to Alexious Lee, head of China strategy research at Jefferies Hong Kong Ltd. Meanwhile, China International Capital Corp. last week raised its estimate for listed firms’ 2020 profit growth to 10% from 6%, saying it expects a stabilizing economy to help drive revenue growth.Stock traders are preparing for the risk that a pneumonia outbreak in China will discourage residents from leaving their homes during the holiday, selling the likes of airlines, casinos and film producers. The outbreak of a virus originating in central China entered a new phase of severity this week as medical workers were reported to have been infected. That indicates that the illness is more easily transmitted than previously thought.“The virus might cause a change of holiday plans, and gatherings may be less frequent than they would be,” said Chen Shi, a fund manager at Shanghai Jade Stone Investment Management Co. Ltd., who sees the stock losses as a buying opportunity. “It’s not easy to calculate how much of a downside this would be at this point. Investors tend to overreact.”(Updates details in second and fifth paragraphs.)\--With assistance from Ee Cheng Teh, Philip Glamann and April Ma.To contact Bloomberg News staff for this story: Amanda Wang in Shanghai at twang234@bloomberg.net;Mengchen Lu in Shanghai at mlu157@bloomberg.netTo contact the editors responsible for this story: Sofia Horta e Costa at shortaecosta@bloomberg.net, Richard Frost, David WatkinsFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


  • UBS cuts mid-term targets after 2019 profit drop

    UBS cut profitability targets on Tuesday as Switzerland's largest bank grapples with ultra-low interest rates and increased competition for wealthy clients. Chief Executive Sergio Ermotti, who successfully pivoted UBS away from investment banking to wealth management nearly a decade ago, is under pressure to retain UBS's edge in the business of managing money for the rich. The bank reported a 129% rise in net profit for the final quarter of 2019, but that performance benefited from a comparison with the final months of 2018 when a market rout hurt earnings.


  • Leading Decentralized Investment Banking Group - Coinstreet Partners, Awarded Asia Futurist Leadership Award

    The Asia Futurist Leadership Award in the category of High Flyer Award - Outstanding Deal Originator In Asia was awarded to Coinstreet Partners by the Association of Family Offices in Asia, the Association of Private Bankers in Greater China and the Women In Leadership Association at the Asia Futurist Leadership Summit, held in Hong Kong during International Financial Week.


  • Japan's Aeon aims to start selling eco-certified sushi in time for Olympics

    Japanese supermarket chain Aeon Co Ltd , Asia's biggest retailer by sales, said it aims to start selling eco-certified sushi this year amid growing demand for sustainable seafood and in time for an expected surge in tourists during the summer Olympics. Japan is one of the world's biggest consumers of seafood, eating around 33 kilograms per capita compared with around 5 kilograms in the United States, according to Euromonitor. While its consumers are known for paying a premium for high-quality food products, and for setting global food trends, Japan has lagged behind Europe and the United States in adopting policies on traceability and sustainable fisheries.


  • Japan's Aeon aims to start selling eco-certified sushi in time for Olympics

    Japanese supermarket chain Aeon Co Ltd , Asia's biggest retailer by sales, said it aims to start selling eco-certified sushi this year amid growing demand for sustainable seafood and in time for an expected surge in tourists during the summer Olympics. Japan is one of the world's biggest consumers of seafood, eating around 33 kilograms per capita compared with around 5 kilograms in the United States, according to Euromonitor. While its consumers are known for paying a premium for high-quality food products, and for setting global food trends, Japan has lagged behind Europe and the United States in adopting policies on traceability and sustainable fisheries.


  • If You Had Bought Philippos Nakas (ATH:NAKAS) Stock Five Years Ago, You Could Pocket A 237% Gain Today

    The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...


  • Iran seeks gear from U.S., France to download downed plane's black boxes

    Iran has made requests for equipment from U.S. and French authorities so it can download information from the black boxes on a downed Ukrainian passenger plane but Tehran has not received a positive response, the civil aviation body said. In its second report on the disaster, in which all 176 people aboard were killed when the plane was accidentally shot down, Iran's Civil Aviation Organization said it did not have the equipment needed to download data from the model of recorders installed on the doomed Boeing 737. Tehran has said it would read the flight data and voice recorders inside Iran, after giving mixed signals about whether it would send the black boxes abroad, as requested by Canada, Ukraine and other nations with citizens aboard the flight.


  • Historic Trump impeachment trial to begin in earnest

    President Donald Trump's historic impeachment trial begins in earnest Tuesday in the Senate, with Democrats calling for his removal from office and Republicans determined to acquit him -- and quickly, if possible. Four months after the Ukraine scandal exploded and went on to overshadow the end of Trump's term, and 10 months before Americans go to the polls to decide whether to re-elect him, the 100 members of the Senate will gather at 1 PM (1800 GMT) with chief justice John Roberts presiding over the trial. The job of these lawmakers, sworn in last week as jurors, is to decide if Trump abused his office and obstructed Congress as charged in two articles of impeachment approved last month by the House of Representatives.


  • GA Telesis Acts as Structuring Agent for the Acquisition and Financing of Ten Boeing Aircraft for a Major US Airline

    GA Telesis, LLC ("GAT") acts as Structuring Agent for the successful acquisition and financing of ten Boeing aircraft for a major US Airline.


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