10.31.2019 China is planning to ditch a megamerger between state-owned giants ChemChina and Sinochem (SS:600500), the Financial Times reported citing two unnamed sources. The decision came amid increasing worries to bring the two groups’ management teams together. China is also concerned of how the U.S.
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10.30.2019 Confirmation of merger talks between Peugeot parent PSA Group (PA:PEUP) and Fiat Chrysler (MI:FCHA) sent both stocks skyrocketing on Wednesday, while Renault's (PA:RENA) made fresh losses on fears that it stands most to lose from any such combination. By 5:15 AM ET (0900 GMT), FCA shares were up 8.6% in Milan, mirroring their rise in after-hours trading in New York on Tuesday.
10.29.2019 Months of protests, a worsening economy and a plunge in property prices could translate into severe pain for Hong Kong’s banks, and threatens to end the city’s status as a “safe haven” for customers’ savings, according to JPMorgan Chase (NYSE:JPM) & Co. A stress test performed by the U.S. bank projected that local lenders including Hang Seng Bank Co. and Bank of East Asia Ltd. could see earnings slump 24% to 45% next year and 39% to 67% in 2021.