Business

Vonovia, Deutsche Wohnen to offer 20,000 flats to Berlin-sources

Real estate groups Vonovia and Deutsche Wohnen (DWNG.DE) want to offer to sell the Berlin senate around 20,000 apartments in the German capital as part of their planned merger, two sources familiar with the matter said on Tuesday. Vonovia said late on Monday it agreed to take over its closest German rival Deutsche Wohnen for […]

Business

Huawei plans to launch new operating system for phones in June

China’s Huawei Technologies (HWT.UL) said it will launch its new Harmony operating system for smartphones on June 2, its biggest move yet aimed at recovering from the damage done by U.S. sanctions to its mobile phone business. The use of its own operating system will mean it will no longer be reliant on Android. U.S. […]

Business

LME plans to replace LMEselect with HKEX Orion trading platform

London Metal Exchange plans to replace its LMEselect trading system with its owner Hong Kong Exchanges and Clearing’s Orion platform, CEO Matt Chamberlain said on Tuesday. LMEselect is an electronic member-to-member trading system. “We have already deployed our new multi-cast market data system LME Source, which is based on HKEX’s highly successful Orion market data […]

Business

No commodities ‘super-cycle’ but copper demand from green economy bright

Commodities markets are unlikely to experience a “super-cycle” in the next few years, experts and audience polled at an online metals seminar on Tuesday said. “We’re not a huge believer in a super-cycle now. You’ve started to see some central bank starting to taper bond buying and if they are not tapering, they’ve started to […]

Business

China launches antitrust probe into Tencent-backed property broker KE

China’s market regulator has begun an investigation into suspected anti-competitive practices by KE Holdings (BEKE.N), the country’s biggest housing broker whose top backer is Tencent Holdings (0700.HK), two people who know of the matter said. The investigation is the latest into China’s big so-called “platform” companies that match sellers and buyers, several of which have […]

Business

Credit Suisse recovers more assets in suspended Greensill-linked funds

Credit Suisse (CSGN.S) has recovered more assets from its suspended Greensill-linked supply chain finance funds, bringing total recoveries to $5.9 billion for the $10 billion funds, it told investors on Tuesday. “Together with the initial cash distribution and current cash and cash equivalents in the funds, the total cash position amounts to $5.9 billion as […]

Business

China approves Goldman Sachs, ICBC joint wealth management venture

China’s largest bank Industrial and Commercial Bank of China (601398.SS) (ICBC) said on Tuesday its unit had received approval to set up a foreign-controlled wealth management firm with Goldman Sachs Asset Management. The unit of U.S. banking giant Goldman Sachs Group Inc (GS.N) will offer a 51% funding contribution ratio, while the wealth management unit […]