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Short seller Citron ‘scratching our heads’ at Mobileye’s buyout by Intel
Famed short seller Andrew Left’s Citron Research expressed bewilderment at Intel Corp.’s decision to buy Mobileye NV, and by the price it was paying for the driverless car technology company. Citron, which once referred to Mobileye as “the most outrageously overpriced, overhyped semiconductor stock ever,” said in a statement... Read more
Stuart Gulliver has told the HSBC board he will quit as chief executive next year, making the search for his successor a priority for Mark Tucker, who has decided to leave Asian insurer AIA to become the bank’s chairman. The appointment of Mr Tucker was announced before the Hong Kong... Read more
Therese Poletti's Tech Tales: Snap judgments: Why so much negative sentiment surrounds year’s hottest IPO
Michael Nagle/Bloomberg Snap Inc. co-founders Bobby Murphy, the company’s chief technology officer, Evan Spiegel, Snap’s CEO, are joined by Tom Farley, president of the NYSE Group, as their company rings in life as a public company on March 2. The Snap Inc. thrill has faded as quickly as... Read more
March 11, 2017 by: Mehul Srivastava in Istanbul and Duncan Robinson in Brussels Turkish President Recep Tayyip Erdogan has accused the Dutch authorities of being “fascists” after they blocked a flight carrying his foreign minister from travelling to Rotterdam. He also threatened to stop flights to Turkey from the... Read more
Bottled water overtakes soda as America’s No. 1 drink — and you should avoid both
Americans now drink more bottled water than soda. Bottled-water consumption in the U.S. hit 39.3 gallons per capita last year, while carbonated soft drinks fell to 38.5 gallons, marking the first time that soda was knocked off the top spot, according to data from industry tracker Beverage Marketing Corp.... Read more
Mario Draghi has declared victory against deflation and moved a step towards ending the European Central Bank’s ultra loose monetary policy, sending the euro and German bond yields higher as investors bet on the end of crisis-era stimulus measures. Facing growing pressure from monetary hawks in Germany, the ECB... Read more
Oil prices were under intensifying pressure on Thursday, with the West Texas Intermediate benchmark falling under $49 for the first time since early December. The falls came after oil prices fell the most in more than a year over the previous session when US crude inventories climbed for a... Read more
Commodities Corner: Here’s why U.S. oil data should rattle OPEC nerves
The latest U.S. figures on crude-oil inventories and production should rattle major oil producers already worried about the success of OPEC-led efforts to rebalance global supply and demand. Government data released Wednesday showed U.S. crude-oil inventories hit a record last week as imports rose and refinery activity edged lower,... Read more
March 8, 2017 by: Shawn Donnan and Demetri Sevastopulo in Washington ZTE has agreed to plead guilty to criminal charges of violating US sanctions on North Korea and Iran and to pay up to $1.2bn in fines, the largest sanctions-busting penalty levied against a Chinese company by Washington. The... Read more
Malaysia has accused North Korea of an “abhorrent act” amounting to hostage-taking after Pyongyang barred Malaysian citizens from leaving its territory, as tensions deepened between the two countries over the assassination of North Korean leader Kim Jong Un’s brother at Kuala Lumpur airport. Najib Razak, Malaysian prime minister, said... Read more