Strong demand for a piece of a China property company and a brokerage show that selected IPOs are still being coveted despite investor fatigue with the surge of new listings.
Chinese property developer Longfor Properties Co raised $912 million on Thursday, pricing its Hong Kong initial public offering at the top end of an indicated range, according to two sources close to the deal.
Apple is expanding its retail business in New York by opening up a new store in the city's Upper West side this Saturday, Nov. 14.
President Barack Obama left for Asia on Thursday with the U.S. economy, jobs and a yawning trade deficit with China looming large on his agenda.
A Chinese government spokesman said Barack Obama should be especially sympathetic to China's opposition to the Dalai Lama and Tibetan independence, as a black president who lauded Abraham Lincoln for helping abolish slavery.
President Barack Obama leaves for Asia on Thursday with the U.S. economy, jobs and a yawning trade deficit with China looming large on his agenda.
Australia said it will invest $50 million to develop green technologies in India, in a sign Canberra was trying to bridge differences with New Delhi over climate change negotiations.
Japan will reassure the United States that their alliance is in good shape, Tokyo said on Thursday, as a feud over a Marine base strains relations ahead of a visit by President Barack Obama.
The fall in the handset market stopped in the third quarter, helped by clearing of inventories of unsold phones and booming sales on the so-called grey market in countries like China, research firm Gartner said on Thursday.
Hewlett-Packard Co is making a move into the network equipment market by striking a $3.1 billion deal for 3Com Corp, in a major challenge to Cisco Systems Inc.
The dollar edged lower on Thursday, struggling with growing calls for Asian currencies to trade more freely -- effectively appreciate -- but supported by profit-taking on recent gains in other currencies like the euro.
Asia-Pacific finance ministers were set to call for flexible exchange rates among measures to try to reduce global economic imbalances that were at the heart of the financial crisis.
Asia-Pacific finance ministers endorsed market-oriented exchange rates on Thursday and said they would stick with economic stimulus plans until a sustained economic recovery was under way.
Gold rose above $1,120 an ounce to a fresh record high on Thursday as the U.S. dollar wavered near 15-month lows, while Asian shares lost ground as investors took profits after four days of gains.
Oil held steady above $79 a barrel on Thursday as the dollar held near 15-month lows against a basket of currencies, while investors waited for U.S. government oil data for direction before taking more positions.
Asian shares edged up on Thursday as investors continued to favor riskier assets on further signs that the global economy is picking up, while a weak dollar sent gold to another record high.
Asia-Pacific governments were expected on Thursday to stick with economic stimulus plans and make a joint call for market-oriented exchange rates to ensure the fragile recovery under way can be sustained.
HP's Cisco Challenge; AIG CEO is Staying; Costco's Warehouse Hopes
Oil prices were steady above $79 a barrel on Thursday, as the market awaits U.S. government oil inventory data and watches the dollar, which is flirting with 15-month lows against a basket of currencies.
China will stick to its active fiscal policy and loose monetary measures even though its economic recovery is now on more solid footing, Premier Wen Jiabao said on Thursday.
Hewlett-Packard Co on Wednesday announced preliminary results for the fourth quarter 2009 and besides its acquisition of 3Com Corp for $2.7 billion. The company also raised its outlook for fiscal 2010.
Shares of 3Com Corp soared more than 35 percent in extended trading on Wednesday after Hewlett-Packard Co agreed to acquire the networking solutions provider for $2.7 billion, while HP shares slipped 0.7 percent to $49.65.
