- Reuters
Fujitsu to halve office space in three years citing 'new normal'
Japan's Fujitsu Ltd <6702.T> said on Monday it would halve its office space in three years as it rewrites the way employees work under a "new normal" amid the coronavirus pandemic. The IT solutions company said its roughly 80,000 group employees in Japan would work flexible hours, and work-from-home would be standard wherever possible. "We will overhaul our current work, allowance and welfare framework that is based on the assumption that employees commute to designated offices every day," Hiroki Hiramatsu, head of the human resources unit, told a news briefing.
- Reuters
Uber, Postmates agree on $2.65 billion all-stock deal - Bloomberg News
The deal has been approved by Uber's board and could be announced as soon as Monday, Bloomberg reported, adding that Pierre-Dimitri Gore-Coty, head of Uber's food delivery business, Uber Eats, is expected to continue to run the combined delivery business. Uber and Postmates did not immediately respond to a Reuters request for comment. Last week, Reuters reported that Postmates had revived plans for an initial public offering following dealmaking in the U.S. online food delivery service sector that sparked acquisition interest in the company.
- Financial Times
Chinese stocks rally as traders bet on economic rebound
Shares in mainland China and Hong Kong rallied as investors brushed aside another record rise in US coronavirus cases and focused on the recovery in the world’s second-biggest economy. China’s CSI 300 index of Shanghai- and Shenzhen-listed shares jumped as much as 3.7 per cent in early trading on Monday, the biggest rise since February 2019 and extending recent gains after closing at a five-year high on Friday. Hong Kong’s Hang Seng index added more than 2 per cent.
- Bloomberg
Uber, Postmates Agree on $2.65 Billion All-Stock Deal
(Bloomberg) -- Uber Technologies Inc. has agreed to acquire Postmates Inc. in a $2.65 billion all-stock takeover expected to be announced as soon as Monday morning in the U.S., according to people familiar with the matter.Uber Eats head Pierre-Dimitri Gore-Coty is expected to continue to run Uber’s combined delivery business, according to a person who asked not to be identified discussing a private deal. It is not immediately clear what role, if any, Postmates Chief Executive Officer Bastian Lehmann will take up following the acquisition.The takeover would help Uber gain ground against privately-held DoorDash Inc., the current market leader in U.S. food delivery. While Postmates hasn’t kept pace with DoorDash, it maintains a strong position in Los Angeles and the American Southwest, both of which could be valuable to Uber Eats.Representatives for Uber and Postmates declined to comment.The move for Postmates comes on the heels of Uber’s failed bid to acquire publicly traded GrubHub Inc., which was scooped up by Europe’s Just Eat Takeaway.com NV for $7.3 billion. Uber’s board of directors has approved the deal, a person said, though the plans could still be subject to change.Uber closed at $30.68 on Friday, after it had gone up more than 4% on initial reports of its bid for Postmates.Founded in 2011, Postmates was one of the first to let customers in the U.S. order meal delivery using a mobile app. However, competition has intensified in recent years and Postmates has fallen to a distant fourth. The company said in February 2019 that it had filed paperwork confidentially for an initial public offering but never went public. It raised private capital last year in a deal that valued the business at $2.4 billion.(Updates with additional background on Postmates in seventh paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Moody's
Zhongsheng Group Holdings Limited -- Moody's assigns first-time Baa3 issuer rating to Zhongsheng; outlook stable
Moody's Investors Service has assigned a first-time Baa3 issuer rating to Zhongsheng Group Holdings Limited. "The Baa3 rating reflects Zhongsheng's strong position in China's (A1 stable) auto dealership market, its large dealership network, favorable brand and market exposure and efficient operational management, which have contributed to its steady business performance," says Roy Zhang, a Moody's Vice President and Senior Analyst. "The rating also reflects Zhongsheng's sound financial profile, prudent financial policy and linkage with its strategic shareholder, Jardine Strategic Holdings Limited (Jardine Group, A1 stable)," adds Zhang.
- Variety
Singapore Cinemas Poised to Reopen With ‘Peninsula’ Among First Releases
Cinemas in Singapore are set to reopen later this month as the city-state takes further steps towards a new post-coronavirus normality. Multiple social distancing and public hygiene measures will inform the cinemas operations. Major cinema chains announced that they will reopen their doors from July 13, following an announcement from the Infocomm Media Development Authority. […]
- Insider Monkey
Should You Avoid Jounce Therapeutics, Inc. (JNCE)?
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
- Insider Monkey
Were Hedge Funds Right About Souring On Waterstone Financial, Inc. (WSBF)?
We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […]
- Insider Monkey
Do Hedge Funds Love Nova Measuring Instruments Ltd. (NVMI)?
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
- Insider Monkey
Hedge Funds Keep Buying Vapotherm, Inc. (VAPO)
The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of March 31st, a week after the market trough. Now, we are […]
- Insider Monkey
Apollo Investment Corp. (AINV): Hedge Funds Are Nibbling
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
- Insider Monkey
Hedge Funds Never Been Less Bullish On Dave & Buster’s Entertainment, Inc. (PLAY)
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]
- Insider Monkey
Hedge Funds Are Nibbling On Chuy’s Holdings Inc (CHUY)
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
- Fox Business
Uber to acquire Postmates in $2.65B deal: Report
An official announcement expected Monday
- Insider Monkey
Should You Avoid Bluerock Residential Growth REIT Inc (BRG)?
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]
- Reuters
Uber, Postmates agree on $2.65 bln all-stock deal - Bloomberg News
Ride-sharing company Uber Technologies Inc has agreed on a deal to buy food-delivery app Postmates Inc in a $2.65 billion all-stock agreement, Bloomberg News reported https://bloom.bg/2Z0TVcd late Sunday, citing people familiar with the matter. The deal has been approved by Uber's board and could be announced as soon as Monday, Bloomberg reported, adding that Pierre-Dimitri Gore-Coty, head of Uber's food delivery business, Uber Eats, is expected to continue to run the combined delivery business. Uber and Postmates did not immediately respond to a Reuters request for comment.
- Insider Monkey
Sapiens International Corporation N.V. (SPNS): Hedge Funds Sticking Around
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
- Insider Monkey
Sohu.com Limited (SOHU): Are Hedge Funds Right About This Stock?
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
- Insider Monkey
HighPoint Resources (HPR): Hedge Funds Taking Some Chips Off The Table
We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […]
- Insider Monkey
Hedge Funds Are Betting On Kiniksa Pharmaceuticals, Ltd. (KNSA)
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
- Insider Monkey
Hedge Funds Souring On Albireo Pharma, Inc. (ALBO)
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
- Simply Wall St.
What You Need To Know About Freelancer Limited's (ASX:FLN) Investor Composition
A look at the shareholders of Freelancer Limited (ASX:FLN) can tell us which group is most powerful. Institutions will...
- Financial Times
Lockdown easing in England threatens cautious approach of devolved nations
With new coronavirus infections falling fast, Scotland now seems to have a real chance to effectively eliminate Covid-19 transmission among the general public. Despite much higher levels of infection and hospitalisation, the UK government has since May been easing England’s lockdown restrictions more rapidly than the devolved governments in Edinburgh, Cardiff and Stormont. The end of an earlier lockdown lockstep has led to increasingly clear policy differences that are piling new strains on already fraying UK unity and has sparked fierce disputes over the possibility of introducing controls on visitors from England to Scotland.
- Financial Times
Third of UK car buyers hold out in hope of incentive scheme
One in three potential car buyers in the UK is putting off a purchase in the hope of a government incentive scheme in the coming months, according to a survey. Chancellor Rishi Sunak is expected on Wednesday to set out measures to boost the economy as the country tries to recover from the pandemic, including help for industry and green housing.
- Financial Times
Flora maker looks to spread virtue of margarine in vegan shift
The KKR-owned spreads business Upfield is seeking to tap into growing demand for eco-friendly “plant-based” foods as it overhauls brands such as Flora and I Can’t Believe It’s Not Butter to combat sliding sales of margarine. David Haines, chief executive of the Amsterdam-based company, said the group had slashed existing product lines in favour of new launches such as plant-based cream, vegan chocolate spread and “plant butter” since it was bought for €6.8bn from Unilever in 2017. Margarine sales have fallen for at least a decade as consumers returned to butter, resulting in 11 years of declining revenue for the division during its time as part of Unilever, according to Upfield.
