The Singapore state investor is taking the commodities trader private with a $4.3 bln offer. Though Olam saw off short-sellers in 2012 its shares never fully recovered. Temasek’s ownership will shield it from public scrutiny – and remove any questions over its creditworthiness.
The euro is at two-and-a-half-year highs, a strength that could drive ultra-low inflation even lower. In principle, the European Central Bank is squeamish about blatantly targeting a weaker euro. But it need have no qualms about picking policy tools that maximise currency damage.
The e-commerce giant bought 60 pct of Hong-Kong listed ChinaVision for $804 mln. Now the film group’s market value has soared to $5 bln. Being owned by Alibaba may be good for business, but details are scant. Star-struck investors are too easily excited by China’s internet hype.
New Zealand is the latest developed country to exit record-low interest rates. Rivals in Europe, Japan and the U.S. will be envious. While they milk cheap money for rare droplets of inflation, dairy herds of the South Pacific are producing price pressures with effortless ease.
King Digital uses creative metrics like MGABPPU to justify its whopping valuation. But there’s no way to calculate what an enterprise is worth when its profit can skyrocket 70-fold one year and could collapse the next. Rival Zynga’s IPO flub serves as an apposite warning.
The latest plan to wind down the U.S. mortgage giant tanked its volatile stock. Some hedge funds still want to revitalize the business. Trouble is, even kind assumptions suggest Fannie isn’t worth enough for shareholders to get anything back – unless Uncle Sam is crazy generous.
The intervention in Ukraine is bad for Russia’s own economy and will do further harm to emerging economies as they struggle with reduced capital inflows and weak exports. Investors are shifting to developed markets, increasing the risks there.