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☆ Why a European stock index is crushing its US peers
▼ + stars: | 2023-04-14 | by ( Julia Horowitz | ) edition.cnn.com time to read: +5 min

By comparison, the Dow Jones Industrial Average in the United States has climbed 2%. Those “growth” stocks gave investors a stake in firms that were on track to expand their businesses quickly and generate hefty returns. Now, investors are more drawn to “value” stocks: companies thought to be trading at a discount based on their financial performance. That’s been a “near-perfect combination” for European stocks to beat their US peers, he added. Economists at the Fed predict the United States will fall into a “mild” recession as a result of the recent banking crisis.

April 13 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. The Asian/Pacific calendar is pretty light on Thursday, with Chinese trade and Australian unemployment figures for March the main events. Music to investors' - and Fed officials' - ears, but the feelgood factor was snuffed out by the Fed minutes. Fed officials are right to be worried about credit conditions. Recent public remarks from Fed officials suggest they are less worried now.

☆ Alphabet's A.I. frenzy hits startup scene as CapitalG unit leads $100 million investment in AlphaSense
▼ + stars: | 2023-04-11 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +4 min

Google's hefty investment in artificial intelligence and the latest boom in generative AI doesn't end with its homegrown products. Alphabet's late-stage venture capital arm, CapitalG, told CNBC that it just led a $100 million investment in corporate data firm AlphaSense, valuing the company at $1.8 billion. Generative AI wasn't a talking point in the prior two rounds because the term hadn't yet jumped into the popular lexicon. Generative AI has been the one bright spot this year, turning rather frothy in some corners. He said the money will also help AlphaSense improve its technology, taking advantage of advances in generative AI.

☆ AlphaSense valued at $1.8 billion after CapitalG-backed fundraise
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - AlphaSense said on Tuesday it has raised $100 million in a fresh round of funding backed by Alphabet's venture capital arm CapitalG that valued the market intelligence platform at $1.8 billion. Heightened volatility in the stock markets due to the U.S. Federal Reserve's monetary tightening have prompted companies to tap private investors as the appetite for public listings remains subdued. New York-based AlphaSense said it will use the funds to further its advanced artificial intelligence capabilities. Last year, the company was valued at $1.7 billion after raising $225 million. AlphaSense helps its customers extract relevant information from a trove of public and private content such as equity research, earnings calls, company filings and news.

☆ How two of North America's richest families came together to fortify Greg Fleming's Rockefeller Capital Management
▼ + stars: | 2023-04-10 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

A firm owned by one of Canada's richest clans has invested $622 million in wealth firm Rockefeller. Two of North America's richest families have partnered up to invest in wealth management powerhouse Rockefeller Capital Management. The Desmarais family invested $622 million through the Power Corporation of Canada, the financial services conglomerate the family controls, for a 20.5% stake in Rockefeller Capital Management. Paul's son and deputy chairman of Power Corp., Andre Desmarais considered the late David Rockefeller Sr. as a mentor. Courtesy of Rockefeller Capital ManagementThe Desmarais family has worked with Rockefeller on big dealsRockefeller chief executive Fleming also has a two-decade-long relationship with the Desmarais clan.

☆ A 31-year market vet who called the current bear market says the S&P 500 has another 45% downside as investors remain blind to signs that a recession is hurtling toward the US economy
▼ + stars: | 2023-04-08 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Yet, stock market investors remain bullish, he said. He's been warning of a significant stock market decline since late 2021,"People are ignoring all the lessons of history," Wolfenbarger told Insider on Friday. His bearish outlook stems from how high stock valuations are relative to 10-year Treasury yields. Wolfenbarger also has company in thinking that stock market investors aren't heeding the warnings of a coming downturn. Yet, the stock market doesn't seem to reflect this uncertainty, he said.

☆ China continues to be Malaysia's largest trading partner, says Malaysian trade minister
▼ + stars: | 2023-04-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina continues to be Malaysia's largest trading partner, says Malaysian trade ministerTengku Zafrul Aziz, Malaysia's minister of international trade and industry, says Malaysia is "back on the global investors' radar."

☆ Shadow banks: The other financial firms worrying investors and regulators
▼ + stars: | 2023-04-06 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN —The International Monetary Fund warned this week of “vulnerabilities” among so-called non-bank financial institutions, saying global financial stability could hinge on their resilience. The term encompasses financial firms, other than banks, that provide all manner of financial services, including lending to households and businesses. The sector has grown strongly since the global financial crisis in 2008, with its asset base expanding by 7% a year on average, according to FSB data. Non-banks that provide credit are known as “shadow banks,” although the term is often used imprecisely to mean all non-banks. Shadow banks now make up about 14% of the world’s financial assets and, like many non-banks, operate without the same level of regulatory oversight and transparency as banks.

☆ Malaysia is back on investors' radar and wants to work with U.S. and China, says trade minister
▼ + stars: | 2023-04-06 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Malaysia is determined to work with both the U.S. and China, Malaysia's trade minister Tengku Zafrul Aziz told CNBC Thursday, amid ongoing tensions between the two economic giants. "The top two investors and trading partners of Malaysia are both China and the U.S.," Zafrul told CNBC's "Squawk Box Asia" in an exclusive interview. "What we're seeing today is Malaysia is back on the global investors' radar screen. And we have had good productive discussions with both investors and companies from China and the U.S.," said Zafrul. He qualified that "China continues to be Malaysia's largest trading partner for 14 consecutive years" and that "China has always been the largest foreign investor into Malaysia."

☆ Why two of North America's richest families are coming together to fortify Greg Fleming's Rockefeller Capital Management
▼ + stars: | 2023-04-05 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

A firm owned by one of Canada's richest clans has invested $622 million in wealth firm Rockefeller. Two of North America's richest families have partnered up to invest in wealth management powerhouse Rockefeller Capital Management. The Desmarais family invested $622 million through the Power Corporation of Canada, the financial services conglomerate the family controls, for a 20.5% stake in Rockefeller Capital Management. Paul's son and deputy chairman of Power Corp, Andre Desmarais considered the late David Rockefeller Sr. as a mentor. Courtesy of Rockefeller Capital ManagementThe Desmarais family has worked with Rockefeller on big dealsRockefeller chief executive Fleming also has a two-decade-long relationship with the Desmarais clan.

LONDON, April 5 (Reuters) - As "fragmentation" of politics and economics becomes the new buzzword for a world that appears to be splintering into blocs, the related costs of the new order are only now being totted up. Corporate rethinking of foreign direct investment (FDI) - bricks-and-mortar developments overseas as well as mergers and acquisitions - would make the hit even scarier. And if FDI fragmentation is defined by a permanent rise in cross-bloc barriers to imported investment inputs, the IMF said developments could cut world output by 2% in the long term. "Fragmentation of the global economy will likely put inflation at a higher structural level, and the cost of capital will likely go up, squeezing low-quality and leveraged companies." Reuters GraphicsBIS chart on global trade as share of GDPBCG projections on world trade to 2031The opinions expressed here are those of the author, a columnist for Reuters.

☆ Australia bans TikTok on federal government devices
▼ + stars: | 2023-04-03 | by ( Chris Lau | ) edition.cnn.com time to read: +2 min

CNN —Australia has joined other Western countries in banning the use of TikTok on government devices as the Chinese-owned video app comes under increasing pressure over claims it presents a security concern. So far, there’s no evidence the Chinese government has accessed TikTok user data, and no government has enacted a broader ban targeting TikTok on personal devices. During a high profile congressional hearing on the matter, TikTok CEO Shou Zi Chew was grilled about the tech firm’s alleged ties to the Chinese government. Chew has said the Chinese government had never asked TikTok for its data and that the company would refuse any such request. For its part, China’s Commerce Ministry said it would “firmly oppose” any decision resulting in the forced sale of TikTok, adding that it would “seriously damage” global investors’ confidence in the United States.

☆ Goldman Sachs is investing about $200 million in 3 Greek hotels and wants to buy more, report says
▼ + stars: | 2023-04-02 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Goldman Sachs is investing hundreds of millions in Greek hotels, The Wall Street Journal reported. Goldman is said to be interested in buying more hotels, and may combine them under one brand. That's according to The Wall Street Journal, which said the bank is investing between 150 million and 200 million euros ($163 million to $217 million) on three seaside resorts in the northern region of Halkidiki. Unnamed sources told the Journal Goldman bought the hotels in October and now planned to renovate them. Goldman Sachs didn't immediately respond to a request for comment from Insider, made outside normal working hours.

☆ Morning Bid: Dogged inflation shades rebound
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +4 min

But for most major stock and bond investments beyond the banking sector itself, the quarter remained a pretty upbeat one overall. "Inflation remains too high and recent indicators reinforce my view that there is more work to do," said Boston Fed chief Susan Collins. Futures markets are still broadly split on the chances of another Fed hike in May, but leaned a bit more on Friday to one more quarter point move. But core inflation, excluding energy and unprocessed food, ticked up as forecast to a new record high for the bloc at 7.5%. Germany said import price inflation fell to its lowest in two years at 2.8% in February.

☆ Loop Capital downgrades this Chinese e-commerce stock, citing rising competition
▼ + stars: | 2023-03-31 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Investors should step to the sidelines on JD.com which is facing growing competition from Tencent, according to Loop Capital. Analyst Rob Sanderson downgraded JD.com shares to hold from buy, citing rising competition that he expects will weigh on the stock. However, he expects that "Tencent's ecommerce ambitions will likely be an overhang, at best" as the multimedia conglomerate charges commissions for merchandise sales on its livestreaming platform. This is however a change from Tencent's traditional position as a traffic funnel into other ecommerce platforms, typically investees like JD," Sanderson wrote. "While we see potential for long-term upside, the demand for Chinese equities remains low and we think other vehicles will appear more attractive to global investors over the near-term," Sanderson wrote.

☆ Analysis: After extraordinary rally, bonds' fate now with bank stability and inflation
▼ + stars: | 2023-03-30 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +4 min

Alongside that dash for safe havens was a rapid repricing of rate-hike bets as banking turmoil raised financial stability risks, fuelling the rally in government debt. But coming so soon after markets had positioned for bigger U.S. rate hikes to tame inflation, bonds swung wildly. March's sharp drop in two-year yields followed a 59 bps jump in February. Two-year Treasury yields are down 24 bps this quarter, their biggest quarterly drop since the 2020 COVID-19 crisis. The likes of JPMorgan, BofA and Morgan Stanley, expect Treasury yields to end 2023 lower; others such as Goldman Sachs and BNP Paribas expect a rise.

☆ Wall Street is bullish on Alibaba's overhaul with Morgan Stanley expecting the stock to double
▼ + stars: | 2023-03-30 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

This move has attracted positive sentiment from major Wall Street banks, with Morgan Stanley saying that this restructuring could lead to a 100% upside in Alibaba's share price. Alibaba shares closed 15% higher Wednesday in Hong Kong, after trading higher by a similar amount on the NYSE on Tuesday. Morgan Stanley said that Alibaba shares, listed in the U.S. as BABA , are trading at a significant discount to their sum-of-the-parts valuation, and the restructuring could unlock this value. Nearly all of the valuation comes out of Alibaba's massive e-commerce and retail operations, according to Morgan Stanley. Morgan Stanley analysts led by Gary Yu wrote in a note to clients on Mar.

☆ Boao Forum: Li Qiang says China 'confident and capable' of hitting 2023 growth targets
▼ + stars: | 2023-03-30 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The forum often promotes itself as “Asian Davos” and Li is tasked with reviving the world’s second largest economy at a time of sluggish growth. China, he said, will roll out new measures to boost domestic consumption and increase market access for foreign business while ensuring the stability of the financial sector. (Photo by AFP) / China OUT (Photo by STR/AFP via Getty Images) Stringer/AFP/Getty ImagesThe Boao Forum for Asia has been held annually since 2001, but was suspended in 2020 because of the pandemic. But the problems have been exacerbated by the Communist Party’s erratic and draconian zero-Covid policy, which ended late last year, and a sweeping crackdown on private business. To boost business confidence, China’s new economic leadership is trying to reassure both foreign business and the domestic private sector.

☆ Banking turmoil means recession fears are creeping back
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +5 min

Here's what some closely watched market indicators say about recession risks:1/ CRUNCH TIME? Central bankers are closely monitoring the potential for banking stress, on top of lending conditions that were already tightening, to trigger a credit crunch. European Central Bank boss Christine Lagarde has also said the market turmoil may help fight inflation. Reuters Graphics3/ BANK STOCK ROUTWorld shares down just 0.1% in March and still sitting on gains this year seem to signal little recession risk, but worries are mounting under the surface. Global bank stocks, which had outperformed the MSCI World Stock Index before the turmoil, are down nearly 15% this month (.dMIWO0BK00PUS).

☆ IMF chief warns of 'risks to financial stability' at China Development Forum
▼ + stars: | 2023-03-27 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

“Risks to financial stability have increased,” IMF Managing Director Kristalina Georgieva said during remarks at the China Development Forum in Beijing. Last week, concerns about Deutsche Bank and speculation over one of its bond payments also weighed on markets, prompting EU leaders to reassure the public over the resilience of Europe’s banking system. But it would still be a significant improvement on the 3% logged by the world’s second-largest economy last year — and help prop up the global economy. China’s rebound this year will allow it to contribute roughly one third of global growth, according to Georgieva. But the IMF chief urged Chinese policymakers to take steps to shift its economy and “rebalance” it toward more consumption-driven growth.

The last time Cook visited China was in 2019. We also have a thriving App Store,” the Apple chief was quoted as saying in state-run China Daily. On Friday, Cook had posted a picture of himself smiling with customers and staff at the Apple store in the shopping district of Sanlitun on China’s Twitter-like social media site Weibo. “TikTok CEO was under siege at the US hearing, while Apple CEO was enthusiastically welcomed by people at its flagship Chinese store. China’s commerce ministry said Thursday that a forced sale of TikTok would “seriously damage” global investors’ confidence in the United States.

☆ China says it ‘firmly opposes’ a potential forced sale of TikTok
▼ + stars: | 2023-03-24 | by ( Laura He | ) edition.cnn.com time to read: +2 min

China’s commerce ministry said Thursday that a forced sale of TikTok would “seriously damage” global investors’ confidence in the United States. “If the news [about a forced sale] is true, China will firmly oppose it,” Shu Jueting, a spokeswoman for the ministry, told a Thursday news conference in Beijing, adding that any potential deal would need approval from the Chinese government. “The sale or divestiture of TikTok involves technology export, and administrative licensing procedures must be performed in accordance with Chinese laws and regulations,” she said. “The Chinese government will make a decision in accordance with the law.”Previously, Beijing didn’t weigh in directly on a potential forced sale. Chinese regulators first added algorithms to the restricted list of technologies in August 2020, when the Trump administration threatened to ban TikTok unless it was sold.

Similarly, the U.S. economy and stock markets tend to outperform during booms and draw in overseas investment that lifts demand for dollars. Surely times of great banking and credit stress should boost the greenback? And now we face a bout of severe banking stress alongside stubbornly high inflation that had almost all major central banks raising interest rates again over the past week despite the pretty clear underlying credit stress. JPMorgan's take on the stressed side of the dollar smile last week pointed out that "the underlying macro-financial pathology that necessitates lower yields is the primary determinant of dollar direction". Clearly, the dollar smile is no laughing matter.

☆ Is Nvidia's high valuation justified? A cautious fund manager gives two reasons to own the stock
▼ + stars: | 2023-03-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

NVDA 1Y line Nvidia's business model centers around selling high-performance graphics processing units that are essential for running the algorithms behind artificial intelligence technologies. While Mortimer acknowledged that Nvidia is currently his most expensive holding in the $580 million Guinness Global Innovators Fund, he expects data center and cloud computing sales to continue rising. The fund manager also pointed toward Nvidia's profitability advantage relative to its peers as a reason to own the stock. According to Mortimer, this rare feature gives it an edge over competitors who may struggle with balancing these two factors. Mortimer joined Guinness Global Investors in 2006 and also manages the $3.8 billion Guinness Global Equity Income.

HONG KONG, March 22 (Reuters Breakingviews) - Time may be on Richard Li’s side. By cobbling together acquisitions, Li has built a brand to sell life insurance across Hong Kong, Japan and Southeast Asia. The value of new business – a measure of the present value of future earnings from policies signed - rose around 30%. Follow @KatrinaHamlin on TwitterCONTEXT NEWSAsian insurer FWD has made a fresh application for a Hong Kong listing, according to stock exchange filings published on March 13. A first attempt to go public in Hong Kong in 2021 was refused owing to concern over its dual-class shares.

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