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While a moat does exist, we remain cautious about its long-term robustness Continue reading......
A review of the proposed acquisition Continue reading......
(Bloomberg) -- Stocks in Asia were set for a muted open to Monday trading following a strong start to the year that’s left global equities at record highs.There were no standout movements in currency markets in early Monday trading, ahead of the open for bonds and stocks. Futures on Asia Pacific markets ended last week mixed. The S&P 500 Index and the Nasdaq Composite Index both set record highs on Friday. U.S. equity and bond markets are shut for the Martin Luther King Jr. holiday.Indicators of economic health from China and the U.S. last week provided some solace for investors concerned about the fragile global outlook. Attention this week turns back to corporate fundamentals, with the earnings season ramping up.“Improving global growth and still easy monetary conditions should drive reasonable investment returns” this year, said Diana Mousina, an economist at AMP Capital Investors Ltd. in Sydney. “So far earnings growth looks...
Moynihan did not provide a time frame in his interview for doubling the bank's consumer market share. With deposits growing above the industry rate, a low risk loan portfolio and a strong balance sheet with billions in excess liquidity, the pieces were in place for the bank to continue taking market share, he told the FT....
(Bloomberg) -- ByteDance Inc. is preparing a major push into the mobile arena’s most lucrative market, a realm Tencent Holdings Ltd. has dominated for over a decade: games.Sign up for Next China, a weekly email on where the nation stands now and where it's going next.The world’s most valuable startup has rapidly built a full-fledged gaming division to spearhead its maiden foray into hardcore or non-casual games, according to people familiar with the matter. Over the past few months, ByteDance has quietly bought up gaming studios and exclusive title distribution rights. It’s embarked on a hiring spree and poached top talent from rivals, building a team of more than 1,000. Its first two games from the venture will be released this spring, targeting both local and overseas players, one person said.Commonly compared to Facebook Inc. because of its billion-plus users and sway over American teens via social media phenom TikTok, ByteDance...
(Bloomberg) -- A top-performing Morgan Stanley fund is betting on cash-rich consumption-focused stocks in Asia, especially China, to manage risks in market cycles this year.Sign up for Next China, a weekly email on where the nation stands now and where it's going next.The Wall Street firm’s Asia Opportunities Fund, which focuses on equities in the region excluding Japan, returned 44% in the past year, beating 99% of its peers, according to data compiled by Bloomberg. The portfolio focuses on undervalued companies with low debt or net cash on their balance sheets, many of which are found in consumer sectors, said Kristian Heugh, who has been co-managing the fund since its inception in 2016.China is the $1.5 billion fund’s largest-weighted country, accounting for 57.7% of assets as of end-December. Heugh said the world’s second-largest economy will remain a key focus this year despite its slower growth in 2019.Expectations for a rebound in...
Certain retail areas have proven to be far more immune to digital disruption than others Continue reading......
