Chief Correspondent, Hong Kong
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Mar 28, 2014

Fed’s Evans sees no rate hike until ‘well into’ 2015

HONG KONG (Reuters) – The U.S. Federal Reserve will need to keep rates at rock bottom until late 2015, a top Fed official said on Friday.

Raising rates earlier, whether to head off the risk of financial instability or unacceptably high inflation, could dangerously depress already low inflation and derail a recovery that is finally gaining steam, Chicago Federal Reserve Bank President Charles Evans said in remarks prepared for delivery in Hong Kong.

Mar 27, 2014

Fed should start rate hikes in Q1 2015, Bullard says

HONG KONG (Reuters) – The Federal Reserve, which has kept short-term U.S. interest rates near zero since late 2008, should start raising them early next year with the aim of returning them to normal by the end of 2016, a top Fed official told Reuters on Thursday.

“Mine is in the first quarter of 2015, as far as liftoff for the funds rate,” St. Louis Federal Reserve Bank President James Bullard told Reuters Insider television, when asked for his view on when the U.S. central bank should make its first rate hike since 2006.

Mar 27, 2014

Fed should start rate hikes in first quarter 2015, Bullard says

HONG KONG (Reuters) – The Federal Reserve, which has kept short-term U.S. interest rates near zero since late 2008, should start raising them early next year with the aim of returning them to normal by the end of 2016, a top Fed official told Reuters on Thursday.

“Mine is in the first quarter of 2015, as far as liftoff for the funds rate,” St. Louis Federal Reserve Bank President James Bullard told Reuters Insider television, when asked for his view on when the U.S. central bank should make its first rate hike since 2006.

Mar 27, 2014

Fed’s Bullard sees potential risk of bubble as easy policy unwound

HONG KONG (Reuters) – A bubble could form in the U.S. economy even as the Federal Reserve unwinds its accommodative policy, a top U.S. central banker said on Thursday, adding policymakers’ ability to spot them had improved substantially.

James Bullard, president of the Federal Reserve Bank of St. Louis, also told an investment conference in Hong Kong that while there was a risk of keeping rates too low for too long, he did not think the Fed was doing that.

Mar 26, 2014

Fed’s Bullard says U.S. jobless rate expected to fall below six percent this year

HONG KONG (Reuters) – The U.S. unemployment rate will fall below 6 percent by the end of this year, a Federal Reserve official said on Wednesday, offering a bullish view on the country’s economy after central bank comments sent shock waves through financial markets last week.

James Bullard, president of the Federal Reserve Bank of St. Louis, said that the outlook for the U.S. economy is “quite good,” despite data from early in the year.

Mar 26, 2014

Fed’s Bullard says U.S. jobless rate expected to fall below 6 pct this year

HONG KONG, March 26 (Reuters) – The U.S. unemployment rate
will fall below 6 percent by the end of this year, a Federal
Reserve official said on Wednesday, offering a bullish view on
the country’s economy after central bank comments sent shock
waves through financial markets last week.

James Bullard, president of the Federal Reserve Bank of St.
Louis, said that the outlook for the U.S. economy is “quite
good,” despite data from early in the year.

Mar 14, 2014

Temasek-led group offers 1.26 billion pounds for remaining Olam shares

SINGAPORE/HONG KONG (Reuters) – A Temasek-led shareholders group has offered to pay $2.1 billion (1.26 billion pounds) in cash for shares in Olam International Ltd (OLAM.SI: Quote, Profile, Research) they don’t already own, putting the heft of the Singapore state investor behind the commodity trading firm’s weak balance sheet.

The proposal comes after a tumultuous stretch for Olam, one of the world’s leading traders in rice, coffee and cocoa, that saw it come under attack from short-seller Muddy Waters in late 2012 for its accounting practices.

Mar 14, 2014

Temasek-led group offers $2.1 billion for remaining Olam shares

SINGAPORE/HONG KONG (Reuters) – A Temasek-led shareholders group has offered to pay $2.1 billion in cash for shares in Olam International Ltd (OLAM.SI: Quote, Profile, Research, Stock Buzz) they don’t already own, putting the heft of the Singaporean state investor behind the commodity trading firm’s weak balance sheet.

The proposal comes after a tumultuous stretch for Olam, one of the world’s leading traders in rice, coffee and cocoa, that saw it come under attack from short-seller Muddy Waters in late 2012 for its accounting practices.

Jan 11, 2014

China’s State Grid buys biggest chunk of HK Electric’s IPO: sources

HONG KONG (Reuters) – Government-owned State Grid Corp of China is coming in as the biggest cornerstone investor in a Hong Kong initial public offering (IPO) worth up to $5.7 billion by Li Ka-shing-backed HK Electric Investments, people familiar with the matter told Reuters.

Li’s Power Assets Holdings Ltd (0006.HK: Quote, Profile, Research, Stock Buzz) is planning to list its Hong Kong electricity business, HK Electric Investments, as it seeks funds for overseas expansion. The IPO is set to be launched on Monday, they added.

Dec 20, 2013

Li tightens grip on Hong Kong mobile as Telstra bows out

SYDNEY/HONG KONG (Reuters) – Australia’s Telstra Corp. has agreed to sell its Hong Kong mobile phone business to a company controlled by billionaire Richard Li in a deal worth $2.4 billion (1.4 billion pounds) that boosts the scion’s share of the city’s saturated mobile phone market.

Australia’s biggest phone company said in a filing that it had agreed to sell its 76.4 percent stake in its CSL New World to HKT (6823.HK: Quote, Profile, Research), a listed arm of Li’s PCCW Ltd (0008.HK: Quote, Profile, Research) media conglomerate, for A$2 billion.

    • About Michael

      "In June 2009, Michael Flaherty became a Chief Correspondent for Reuters News, leading a team of journalists who cover investment banking, mergers & acquisitions, private equity and hedge funds, equity capital markets, natural resources and property across Asia. He arrived in Hong Kong in Feb. 2008 as Reuters' Asia Financial Services correspondent, covering the investment banks and M&A. Flaherty was hired by Reuters in New York in Dec. 2003. He was voted Reuters Journalist of the Year for his 2007 coverage of the U.S. private equity boom and bust. He started at Reuters with the consumer group covering office retailers ..."
      Joined Reuters:
      Dec. 1, 2003
      Awards:
      Peninsula Press Club, 2002, Reuters Journalist of the Year, 2007, M&A International, 2007
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