Shares of China Tobacco International, a subsidiary of the largest cigarette maker in the world, has risen by almost 500% in three weeks of trading on the Hong Kong Stock Exchange. Experts call this absurdity and consider the behavior of investors irrational. Shares of China Tobacco International went up by 44% to close the previous day of trading on the Hong Kong Stock Exchange on Wednesday...

Deutsche Bank, Germany’s largest bank is going to restructure due to the crisis, which could result in a loss of €5 billion, The Financial Times reported, citing its own sources. "Reduction of the investment banking division of Deutsche Bank will lead to the fact that the largest creditor of Germany this year will suffer losses equal to €5 billion," the newspaper writes. The bank’s Chief...

There are only two weeks before the start of the reporting season for the second quarter, and Wall Street is expected to reduce its total earnings per share by 1% year-on-year. “If the predictions come true, this will be the first annual EPS decline since 2016,” said David Kostin, Goldman Sachs chief investment strategist in the United States. Such news should not be a surprise for market...

The new rating of The Banker magazine includes thousands of the world's largest banks. Its top is full of banks from China, followed by American financial companies. The Banker magazine revealed its latest rating of thousands of the world's largest banks. The banks are ranked by size of Tier I capital. The global rating does not include banks that belong to foreign parent financial groups, even...

Representatives of the South Korean industrial conglomerate Hyosung Corporation signed a memorandum of understanding with representatives of Saudi Arabia oil company Saudi Aramco. It is reported by Maeil Business Newspaper, citing company representatives. According to them, the document between CEO of Saudi Aramco and Head of the Hyosung Corporation was signed at the five-star Conrad Seoul hotel,...

The Irish subsidiary of the American financial giant has violated asset management regulations. The Irish regulator fined local subsidiary of JP for € 1.6 million. The financial institution violated the country's regulatory requirements. In three cases out of four, this concerns outsourcing of asset management activities. In March 2014, the Central Bank conducted a study on the current...

The American pharmaceutical company AbbVie will buy Irish Allergan, known for its development of Botox, for $ 63 billion. This deal will be one of the largest in the industry, and will help the Americans noticeably strengthen their position in the cosmetics, eye care, immune system and cancer drugs market. AbbVie will pay the Irish company $ 63 billion, or $ 188 per share in cash and its own...

Metallurgical and mining company Evraz is interested in buying the French division of British steelmaking corporation British Steel, which produces railroad rails, writes Financial Times, citing sources in the market. The division is called Hayange and employs about 400 people. It is located in the north of France. The company is a supplier of the French state rail carrier SNCF. British Steel...

Readiness of the US Federal Reserve to soften monetary policy once again and begin to reverse the rate cuts caused a rally in global markets, including oil prices (Brent quotes has risen by almost 5% since Wednesday). The demand grew for both risk-free and risky assets. For the first time since 2016, the required yield on ten-year US government bonds fell below 2%, while the total volume of bonds...