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  • Budweiser APAC's IPO failure hurt retail investors, say newspaper adverts urging reform
    Reuters

    Budweiser APAC's IPO failure hurt retail investors, say newspaper adverts urging reform

    The dramatic failure of brewer Budweiser APAC's $9.8 billion Hong Kong listing left "mom and pop" investors badly out of pocket, a local broker has said in an unusual series of full-page advertisements in newspapers across the city on Wednesday. Bright Smart Securities & Commodities Group Ltd <1428.HK> urged bourse operator Hong Kong Exchanges and Clearing Ltd (HKEX) <0388.HK> and regulator Securities and Futures Commission (SFC) to reform the listing process.

  • Ericsson Ends Run of Earnings Beats With Asia Warning
    Bloomberg

    Ericsson Ends Run of Earnings Beats With Asia Warning

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Ericsson AB posted earnings that missed analyst estimates for the first time in six quarters and warned its rollout of 5G mobile networks in Asia would weigh on profits, in a rare setback to Chief Executive Officer Borje Ekholm’s turnaround efforts. With Ericsson battling Finland’s Nokia Oyj and China’s Huawei Technologies Co. for pole position in 5G, Ericsson said the first big deployments in Asia will gradually pull down profit margins, although not enough to jeopardize profitability targets for 2020. Wireless operators are preparing for heavy spending on the new networks that offer super-fast download speeds, minimal delay and capacity for more simultaneous connections. Their suppliers are likely to sacrifice short-term profits to win the first big contracts as that gives them a better chance of winning longer-term business.With Huawei targeted by a U.S. campaign to have it blocked on security grounds, its Nordic rivals may have an opportunity to win more business. In an interview on Bloomberg TV, Ekholm said Ericsson was not benefiting from Huawei’s troubles, although it was gaining market share. “We’re trying to strengthen our footprint in front of the 5G rollout,” he said in an interview on Bloomberg TV. “Of course that is going to impact the margins, but as you see on networks, we can really manage that within the guidance we have given.’’Research BoostThe Swedish vendor’s adjusted operating profit rose to 3.9 billion kronor ($415 million) from 2.0 billion kronor a year earlier. That compared with the average estimate of 4.4 billion kronor in a Bloomberg survey of analysts.All of Ericsson’s businesses units except its networks division posted results below estimates, showing Ekholm has more work to do after a successful turnaround of the company’s biggest unit. The CEO suggested that analysts may have been overestimating results in the Digital Services and Managed Services units. “I sometimes like to say that maybe the analysts have missed,” Ekholm said. “We have said that improvements will not be linear and they will vary from quarter to quarter.”Ericsson Investors Start to Enjoy Life Without Nasty SurprisesThe CEO has ended a run of disastrous results since taking over in 2017 by cutting costs, dropping unprofitable business lines and investing more in research so can ride the wave of 5G spending. He’s cautioned that the company may experience temporary setbacks as its focus is on building a stronger business in the longer run. Ericsson shares have gained on the previous five interim reports. The stock has risen 33% in the last 12 months as Ekholm’s two-year effort to reverse a slump in profits began to pay off. (Adds CEO comments from fifth paragraph.)To contact the reporter on this story: Niclas Rolander in Stockholm at nrolander@bloomberg.netTo contact the editors responsible for this story: Rebecca Penty at rpenty@bloomberg.net, Thomas Pfeiffer, Marthe FourcadeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • July deals: How and where to get free food – from chicken to ice cream – plus discounts
    USA TODAY

    July deals: How and where to get free food – from chicken to ice cream – plus discounts

    Amazon Prime Day isn't the only time to save money this month. IHOP has a sweet pancake deal Tuesday and National Hot Dog Day is Wednesday.

  • Introducing Don't Nod Entertainment (EPA:ALDNE), The Stock That Dropped 40% In The Last Year
    Simply Wall St.

    Introducing Don't Nod Entertainment (EPA:ALDNE), The Stock That Dropped 40% In The Last Year

    Passive investing in an index fund is a good way to ensure your own returns roughly match the overall market. But if...

  • If You Had Bought Archer (OB:ARCHER) Stock Five Years Ago, You'd Be Sitting On A 96% Loss, Today
    Simply Wall St.

    If You Had Bought Archer (OB:ARCHER) Stock Five Years Ago, You'd Be Sitting On A 96% Loss, Today

    Long term investing is the way to go, but that doesn't mean you should hold every stock forever. It hits us in the gut...

  • What You Must Know About Delta Drone SA's (EPA:ALDR) Beta Value
    Simply Wall St.

    What You Must Know About Delta Drone SA's (EPA:ALDR) Beta Value

    If you own shares in Delta Drone SA (EPA:ALDR) then it's worth thinking about how it contributes to the volatility of...

  • Introducing Sing Investments & Finance (SGX:S35), A Stock That Climbed 31% In The Last Three Years
    Simply Wall St.

    Introducing Sing Investments & Finance (SGX:S35), A Stock That Climbed 31% In The Last Three Years

    One simple way to benefit from the stock market is to buy an index fund. But if you pick the right individual stocks...

  • Seoul: US understands seriousness of Seoul-Tokyo trade fight
    Associated Press

    Seoul: US understands seriousness of Seoul-Tokyo trade fight

    The United States fully understands the seriousness of South Korea's festering trade dispute with Japan, a high-ranking Seoul official said Wednesday after a meeting with the top U.S. diplomat for East Asian affairs. David Stilwell, the Assistant Secretary of State for the Bureau of East Asian and Pacific Affairs, is in South Korea for three days, as Seoul is seeking U.S. help to resolve the spat between two of America's most important allies in the region. After meeting with Stilwell, senior South Korean presidential official Kim Hyun-chong told reporters that he had explained Stilwell about Seoul's position on the issue in details.

  • Blue Apron beefs up menu with Beyond Meat, shares surge 60%
    Reuters

    Blue Apron beefs up menu with Beyond Meat, shares surge 60%

    Overwhelmed by rising competition and falling sales, Blue Apron's stock has collapsed since its Wall Street debut in 2017. After Tuesday's rally, it was still down more than 90% from the price in its initial public offering. Blue Apron said its Signature Two-Serving Plan - a curated meal plan subscription - would include recipes using the Beyond Burger, a four-ounce patty with 20 grams of plant-based protein.

  • Easy Come, Easy Go: How Emova Group (EPA:ALEMV) Shareholders Got Unlucky And Saw 79% Of Their Cash Evaporate
    Simply Wall St.

    Easy Come, Easy Go: How Emova Group (EPA:ALEMV) Shareholders Got Unlucky And Saw 79% Of Their Cash Evaporate

    It's not possible to invest over long periods without making some bad investments. But really bad investments should...

  • Some Sanistål (CPH:SANI) Shareholders Are Down 22%
    Simply Wall St.

    Some Sanistål (CPH:SANI) Shareholders Are Down 22%

    In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market...

  • Macron Loses Another Minister But Can Put Lobstergate Behind Him
    Bloomberg

    Macron Loses Another Minister But Can Put Lobstergate Behind Him

    (Bloomberg) -- Emmanuel Macron has just lost the most senior member of his cabinet, but that’s no bad thing.The French leader has a Group of Seven summit to host in late August and on the domestic front, a reform of the pensions system to start. He had to put the latest scandal behind him before the summer break.Just before midnight on Tuesday, Macron named Elisabeth Borne as his new Energy Minister to replace Francois de Rugy. The new cabinet member, an engineer and former Socialist government official, was picked swiftly in a bid to end the scandal over de Rugy’s lifestyle.De Rugy resigned Tuesday saying he couldn’t carry out his duties while trying to defend himself from allegations that he used taxpayers’ money to pay for lavish dinners and the costly refurbishment of his private residence.The 45-year-old, an early Macron backer, was in charge of shaping environmental policy at a time when climate change has become one of Macron’s priorities on the world stage. But keeping a scandal-tainted minister on the job was becoming a liability.Borne, who will remain Minister for Transportation, has been in Macron’s government since the start. The former chief of the Paris metro system is little known by French voters. A 2018 profile in Liberation newspaper described her as “austere.” RTL radio on Wednesday described her as “a technician” who is “solid.” She worked briefly at the construction company Eiffage and headed urban planning for the city of Paris from 2008 to 2013.Borne last year successfully pushed through a reform to open French railway services to competition despite a three-month strike that led to transport chaos throughout the country. Climate Issues“France’s voters want Macron to spend much more time and energy on climate and environment issues; they also expect whoever gets the energy and environment minister job to show some moderation and exemplary behavior,” said Celine Bracq, a pollster at Odoxa.De Rugy’s replacement will have to seek new ways to raise funds after planned levies on gasoline and diesel were dropped amid violent street protests that erupted across the country at the end of last year. The minister will also handle plans to reduce a tax break on fuel used by truck transporters. Borne will keep tabs with the delayed construction of the Flamanville-3 future nuclear reactor and decide on the potential construction of new nuclear plants.After Bastille Day celebrations over the weekend, the president moved to stem outrage during a Monday news conference. He said that if an investigation into de Rugy’s lifestyle concluded he took advantage of public funds, he’d be fired.About 18 hours later, De Rugy stepped down.Lessons LearnedIt appears lessons were learned from a drawn out saga over disgraced bodyguard Alexandre Benalla last year. Then, Macron, along with his staff, covered up Benalla’s beating of May Day protesters for weeks and later defended him before firing him in July.Macron’s approval rating plummeted and the “Benalla affair” fueled negative sentiment about the French leader’s governing style that evolved into what become the Yellow Vests movement.This time around, the worst Macron will endure is likely to be a headache over finding a suitable replacement.“He was hoping for a quiet summer -- without another saga -- and an intense September with reforms,” said Celine Bracq, a pollster at Odoxa. “But he’ll have to deal with the Rugy affair, and change ministers again. He should be OK, but he could really have done without it.”Macron has gained on several fronts since May. His approval rating rose 6 to 10 percentage points in opinion polls. He’s benefited from a reasonably blossoming economy, improved jobs figures and a surge in French industrial output.In photos that went viral on social media, de Rugy was shown feasting on lobsters and downing champagne in the gilded reception halls of his public offices. Online investigative news service Mediapart revealed he spent $86,000 renovating his official apartment and earlier, as the president of the lower chamber of Parliament he and his wife hosted about a dozen lavish dinners.To contact the reporter on this story: Helene Fouquet in Paris at hfouquet1@bloomberg.netTo contact the editors responsible for this story: Ben Sills at bsills@bloomberg.net, Caroline Alexander, Dan LiefgreenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Polkadot announces new experimental network Kusama
    Decrypt

    Polkadot announces new experimental network Kusama

    Kusama will be a proving ground and an early version of the Polkadot network, say the team behind the ambitious interoperability blockchain project.

  • KyberSwap’s decentralized exchange adds new trading tool
    Decrypt

    KyberSwap’s decentralized exchange adds new trading tool

    Non-custodial limit orders will now be available on KyberSwap’s DEX.

  • Binance burns 800,000 BNB but with a twist
    Decrypt

    Binance burns 800,000 BNB but with a twist

    This time the coins will come out of the employee’s own 80 million supply—and they’re cool with this.