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Trump will meet with Hungarian Prime Minister Viktor Orbán at 11:45 a.m. local time on Friday.November 7th - The recent sell-off in longer-term US Treasuries indicates that fiscal issues will be investors primary concern if Trumps tariff policies are rejected, as they worry that rising debt levels will exacerbate the budget deficit. Thomas Mathews, Head of Asia Pacific Markets at Capital Economics, pointed out that the longest end of the US Treasury yield curve has seen the greatest volatility, suggesting that concerns about the fiscal situation are no less significant than those about the Federal Reserves interest rate path. The loss of tariff revenue will reignite the deficit problem. Wednesdays market reaction was more moderate than when the tariffs were introduced at the beginning of the year, as the market anticipated that the government might introduce alternative tariffs. This would limit the size of fiscal stimulus and is unlikely to fully offset the revenue loss. Furthermore, while the direct inflation-boosting effect of tariffs is limited, the recent slight decline in inflation swap rates suggests that investors believe that removing tariffs will still have some effect on curbing inflation.On November 7th, the topic of a Pop Mart livestream incident became the top trending topic. During a Pop Mart livestream, when staff were showcasing a DIMOO keychain blind box priced at 79 yuan, one person blurted out, "Wow, 79 yuan is a bit expensive," to which another responded, "Its okay, someone will buy it." Pop Mart responded to the incident, stating that they are investigating and will not dismiss the employee involved.On November 7th, the Russian Ministry of Defense released a battle report on November 6th, stating that in the "Red Army City" (Pokrovsk in Ukrainian) of the Donetsk region, Russian forces continued their attacks on besieged Ukrainian troops, seizing control of 64 buildings within a 24-hour period and repelling more than ten Ukrainian attempts to break the siege. Furthermore, Russian forces struck Ukrainian targets in 149 areas, including energy and transportation infrastructure, drone storage and launch sites, and temporary deployment points for Ukrainian troops and foreign mercenaries. In one day, they shot down two guided-missile bombs and more than 200 drones, and destroyed more than 10 armored vehicles.Citigroup raised its target price for Hua Hong Semiconductor (01347.HK) from HK$45.00 to HK$105.00.

AMP Departs Private Markets to Focus on Banking And Wealth Management

Charlie Brooks

Apr 28, 2022 10:00

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AMP announced on Thursday that it will receive an upfront cash payment of A$462 million from the sale of the assets, an additional performance fee payment of approximately A$57 million, and up to A$180 million contingent on future fund raising.


The deal comes just one day after AMP Capital announced the sale of its real estate and domestic infrastructure equity businesses to Dexus for up to A$550 million.


"After the two sales are complete, AMP Ltd will be a more focused entity, focused on driving our core banking and retail wealth businesses in Australia and New Zealand, with the primary objective of accelerating our strategy and increasing our competitiveness," AMP Chief Executive Officer Alexis George said.


With the recent announcements of the disposal of two AMP Capital assets this week, and the February divestment of the business's infrastructure loan platform, AMP has now completely exited its global investment managing subsidiary AMP Capital, which was valued at A$2.04 billion.


The transaction completes AMP's multi-year effort to exit the private markets industry and focus only on wealth management and banking.


The 172-year-old company anticipates that the two recent divestitures would add A$1.1 billion to its net capital. It expects to return the lion's share of net cash flows to shareholders through a combination of capital returns and on-market share buybacks.


The corporation has been rethinking its strategy in the aftermath of a 2017 Royal Commission into the financial services industry, which resulted in an exodus of clients, along with a string of corporate wrongdoing problems.


AMP anticipates concluding the sale of its worldwide infrastructure equity business in the fourth quarter of 2022. As of 0030 GMT, the Sydney-based company's shares were up 1.1 percent.

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