China Evergrande Group said on March 30 it will sell its Crystal City Project in the eastern city of Hangzhou for 3.66 billion yuan ($575 million) to two state-owned firms as the group’s liquidity issues dampen the progress of its projects. The firm is selling the land-use and building ownership rights for the project, which…
China Evergrande to Sell Crystal City Project for $575 Million
April 1, 2022
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Business & EconomyChinaChina Business & EconomyChina Evergrande GroupCompaniesCrystal City ProjectShares
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Moscow Exchange to Resume Shares and Bond Trading in Normal Mode on Monday: Central Bank
The Russian central bank said on Saturday that the Moscow Exchange will resume trading on Monday, with shares and bonds in normal mode. It said the trading session will last from 9:50 a.m. until 1:50 p.m. Moscow time (0650–1050 GMT).
GitLab Shares Pop as Analysts See Sharp Upside Post Q4
Analysts painted sharp upside to GitLab Inc. post strong Q4 results that included a notable top-line beat and FY23 guidance ahead of Street expectations. Truist analyst Joel Fishbein lowered the PT to $105 from $175 (217.2 percent upside) and kept a Buy, citing the change in discount rate assumptions since the IPO. KeyBanc analyst Michael Turits lowered the PT to $50…
World Shares Mixed, Oil Down $5.50 per Barrel
BANGKOK—Shares rose in Europe after a mixed session in Asia on Monday, where Hong Kong’s Hang Seng index sank 5 percent after the neighboring city of Shenzhen was ordered into a shutdown to combat China’s worst COVID-19 outbreak in two years. Benchmarks rose in Frankfurt, Paris, and Tokyo and U.S. futures were higher. Oil prices…
Russia Bans Payments to Foreigners Holding Rouble Bonds, Shares
March 2, 2022
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Business & Economyeconomic policieseconomyEuropeMarketspaymentsroubleRussiaRussia-Ukraine WarSharesWorld
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MOSCOW—Foreign investors are effectively stuck with their holdings of Russian stocks and rouble-denominated bonds after the central bank put a temporary halt on payments and major overseas’ settlement systems stopped accepting Russian assets. Moscow is blocking foreign investors, who hold tens of billions of dollars worth of Russian stocks and bonds, from exiting after its…
Global Shares Mixed as Russia, Ukraine Plan Further Talks
TOKYO—World shares were mixed Tuesday after talks between Russia and Ukraine aimed at ending the war just yielded an agreement to meet again. European markets opened mostly lower while Asian shares and U.S. futures were mostly higher. Oil prices rose. A 40-mile convoy of Russian tanks was threatening Ukraine’s capital Kyiv in the sixth day…
Beyond Meat Shares Fall on Dimmer Than Expected Forecasts
February 25, 2022
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Beyond MeatBusiness & EconomyCompanieseconomyforecastLocal NewsMarketsRegional-Local NewsSharesSouthern CaliforniastocksUSUS News
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Beyond Meat Inc. forecast annual revenue below estimates on Thursday, hitting its share price, as it faced stiffer competition amid flat demand for plant-based protein. The California-based company said it expects revenue of $560 million to $620 million for 2022, compared with estimates of $637.3 million, according to Refinitiv IBES data. Sales to U.S. grocers,…
Moderna Makes Case for 4th COVID-19 Vaccine Booster This Year, Shares Jump
Moderna Inc. executives said on Thursday they believe a fourth COVID-19 vaccine shot will be needed late this year due to waning protection from earlier doses, which could push up sales in the second half of 2022. Chief Executive Stephane Bancel stressed that the company’s current sales projections for its Spikevax COVID-19 shot—$19 billion in…
UniCredit Shares Open Down 8 Percent on Ukraine Crisis
February 24, 2022
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bankBusiness & EconomyCompaniescrisisEuropeItalyMarketsRussia-Ukraine WarSharesstocksUkraineUniCreditWorld
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MILAN—Shares in UniCredit, whose Russian arm is one of the largest lenders in the country, fell as much as 8 percent on Thursday, before triggering an automatic trading suspension, hit by the escalation of the Ukraine crisis. Russian forces fired missiles at several cities in Ukraine and landed troops on its coast on Thursday. By…
Oil Prices Jump, Shares Sink as Russia Edges Toward Ukraine
BANGKOK—Oil prices surged nearly 5 percent and stock prices dropped after Russian President Vladimir Putin ordered forces into separatist regions of eastern Ukraine, bringing a long-feared invasion a step closer. Russia is a major energy producer and the tensions over Ukraine have brought wide swings in volatile energy prices, on top of the inevitable risks…
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