Susan Chan, Head of Asia Pacific, BlackRock says the traditional 40/60 portfolio is not going to generate the outcomes needed for the future, she was speaking to Bloomberg’s Rebecca Sin at Bloomberg Invest 2026 in Hong Kong. (Source: Bloomberg)
Susan Chan, Head of Asia Pacific, BlackRock says the traditional 40/60 portfolio is not going to generate the outcomes needed for the future, she was speaking to Bloomberg’s Rebecca Sin at Bloomberg Invest 2026 in Hong Kong. (Source: Bloomberg)
Jeff Li, Chief Investment Officer, Global Equity, E Fund HK, discusses investing opportunities and market trends shaping the next phase of China’s economy at Bloomberg Invest 2026 in Hong Kong. (Source: Bloomberg)
Jeff Li, Chief Investment Officer, Global Equity, E Fund HK, discusses investing opportunities and market trends shaping the next phase of China’s economy at Bloomberg Invest 2026 in Hong Kong. (Source: Bloomberg)
WH Smith Plc lowered its profit outlook and set out a plan to raise capital as the fallout from the conflict in the Middle East weighs on sales at the retailer’s network of airport stores. The company now expects profit before tax and other items of £75 million ($100 million) to £90 million for this fiscal year, WH Smith said Wednesday, compared to its previous target of as much as £105 million. S...
WH Smith Plc lowered its profit outlook and set out a plan to raise capital as the fallout from the conflict in the Middle East weighs on sales at the retailer’s network of airport stores. The company now expects profit before tax and other items of £75 million ($100 million) to £90 million for this fiscal year, WH Smith said Wednesday, compared to its previous target of as much as £105 million. Shares of WH Smith slumped as much as 17% in early trading in London, extending a plunge of more than 50% in the past year. The downgrade reflects a drop in passenger numbers and weakening demand across all divisions, the company said. WH Smith has been warning of the impact of the Iran war for months, and suspended its dividend in April to help reduce debt during the downturn. It also proposed a capital raise of as many as 26 million shares, representing about 20% of its existing share capital, to bolster its balance sheet. It’s the latest setback for WH Smith after it was roiled by an accounting error at its US business last year that led to exit of its chief executive officer. The UK’s Financial Reporting Council said this week it started an investigation of the statutory audit by PwC for 2024. Read More: WH Smith CEO Cowling Resigns After Probe of Accounting Error WH Smith expects to book an impairment charge of up to £150 million as it reviews its portfolio of InMotion electronics stores in North America, and looks to exit stores or transition them to a franchise model in its Rest of World division. It is also considering options for its Welcome to Las Vegas gift shops.
Retailer plans to shut unprofitable stores as shopper numbers at airports fall amid Middle East conflict Business live – latest updates WH Smith has issued a profit warning after shopper numbers at its stores in US airports fell as a result of the war in the Middle East. The retailer, which operates 1,200 outlets globally in airports, railway stations and hospitals, also announced plans to raise a...
Retailer plans to shut unprofitable stores as shopper numbers at airports fall amid Middle East conflict Business live – latest updates WH Smith has issued a profit warning after shopper numbers at its stores in US airports fell as a result of the war in the Middle East. The retailer, which operates 1,200 outlets globally in airports, railway stations and hospitals, also announced plans to raise about £100m to strengthen its balance sheet, pay down debt, invest in technology and shut down unprofitable stores after “a downturn in trading conditions”. Continue reading...
Get up to speed with key market intelligence, news and insight before trading starts each day in this fast-growing economy with the Markets Daily India newsletter. Sign up here . Monthly inflows into Indian equity mutual funds shrunk by the most in three years as investors cut stock exposure amid concerns about the prolonged US-Iran war’s impact on the energy-import dependent economy. Investors pl...
Get up to speed with key market intelligence, news and insight before trading starts each day in this fast-growing economy with the Markets Daily India newsletter. Sign up here . Monthly inflows into Indian equity mutual funds shrunk by the most in three years as investors cut stock exposure amid concerns about the prolonged US-Iran war’s impact on the energy-import dependent economy. Investors plowed 229.1 billion rupees ($2.4 billion) into equity plans in May, according to data from the Association of Mutual Funds in India. The inflows were down 40% from April, marking the steepest month-on-month decline since May 2023, the data showed. Domestic flows have helped support India’s $4.8 trillion market from record foreign outflows, providing a measure of stability as the Middle East conflict enters its fourth month. Yet retail investors are showing signs of fatigue as local equities continue to trail regional peers. The NSE Nifty 50 Index is down more than 10% this year, even as markets like South Korea and Taiwan hit records earlier this month. Read More: Taiwan Overtakes India as World’s Fifth-Largest Stock Market “Macro concerns have led investors to adopt a wait-and-watch approach rather than make fresh allocations,” said Ankur Punj, a business head at Equirus Wealth. “The moderation reflects a more cautious investor sentiment.” The Iran war has weighed on India’s growth outlook and — despite a surprise jump last quarter — economists have cut their forecasts to well below the 7% pace that’s made India in recent years the world’s fastest-growing major economy. The Reserve Bank of India on Friday projected expansion of 6.6% in the fiscal year through March 2027, down from 7.6% last year.
Anna Edwards, Tom Mackenzie and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Anna Edwards, Tom Mackenzie and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Private equity “lost its way a little bit” during the easy money era and firms will “have to start capitulating for sure on valuations” following the normalization of borrowing costs, according to Apollo Global Management Inc. Co-President Scott Kleinman . “There is capital available for exits, but you may not like the valuation” and “if you paid a high price you are kind of stuck,” he said in an ...
Private equity “lost its way a little bit” during the easy money era and firms will “have to start capitulating for sure on valuations” following the normalization of borrowing costs, according to Apollo Global Management Inc. Co-President Scott Kleinman . “There is capital available for exits, but you may not like the valuation” and “if you paid a high price you are kind of stuck,” he said in an interview with Bloomberg News on Wednesday. Fears around the impact of AI on software, the struggle to distribute capital to investors, retail market concern around loan valuations and the war in Iran have all combined to take a toll on the private markets industry this year. Amid the headwinds, Kleinman sees the expansion in the number of private equity firms starting to reverse as some start to raise smaller funds and others disappear. Read More: Private Equity Taps Junk Market for Dividends as Exits Stall Two years ago, Kleinman said PE returns would struggle to return to previous levels “until the pig moves through the python. ” While the pig was in the snake’s abdomen back then, it’s now further down the digestion process, he said in the interview on the sidelines of the SuperReturn conference in Berlin. Read more: Private Markets Elite Gather in Berlin With Not-So-Super Returns “When interest rates went to zero and stayed there for a decade,” he said, private equity changed from finding a good asset, paying a reasonable price and operating it better to just “find a good asset and do not screw it up.” What you paid for it “did not matter because with 0% rates, valuations always went up,” he added, but the sharp rise in interest rates to combat inflation “changed everything.”
Tango Therapeutics ( TNGX ) announced the pricing of an upsized underwritten public offering of 18.17M shares of its common stock and pre-funded warrants to purchase up to 1.83M shares. The gross proceeds from the offering are expected to be approximately $600M before deducting underwriting discounts, commissions, and other estimated offering expenses. This represents a $100 million upscale from t...
Tango Therapeutics ( TNGX ) announced the pricing of an upsized underwritten public offering of 18.17M shares of its common stock and pre-funded warrants to purchase up to 1.83M shares. The gross proceeds from the offering are expected to be approximately $600M before deducting underwriting discounts, commissions, and other estimated offering expenses. This represents a $100 million upscale from the company's initially announced target of $500 million. The common stock is priced at $30.00 per share. The pre-funded warrants are priced at $29.999 per warrant, which reflects the per-share public offering price of the common stock minus the $0.001 per-share exercise price. All the securities in the offering are being sold by Tango. The offering is expected to close on or about June 11, 2026, subject to customary closing conditions. Additionally, Tango has granted the underwriters a 30-day option to purchase up to an additional 3M shares of common stock at the public offering price, less underwriting discounts. More on Tango Therapeutics Tango Therapeutics: Combo Data With Revolution's RAS Inhibitor Whets Risk Appetite Tango Therapeutics, Inc. (TNGX) Discusses Promising Clinical Results for Vopimetostat and Pan-RAS Inhibitor Combination in MTAP-Deleted Pancreatic Cancer Transcript Tango Therapeutics, Inc. (TNGX) Discusses Promising Clinical Results for Vopimetostat and Pan-RAS Inhibitor Combination in MTAP-Deleted Pancreatic Cancer - Slideshow Quant rating check: Top oncology peers as Nuvalent goes private in $10.6B deal with GSK Tango Therapeutics files for $500 million common stock offering