Traders are betting a recovery in technology stocks will fizzle on concern global economic growth fails to justify valuations. While the Nasdaq 100 Index climbed 2.8 percent in two days, after reaching a four-month low, the rebound followed six weeks in which investors pulled $8.26 billion from an exchange-traded fund tracking companies from Google Inc. to EBay Inc. Bearish options on the ETF cost the most in more than two years relative to bullish bets, data compiled by Bloomberg show.
Updated 5 Years ago

Japan’s three biggest banks may need to raise as much as about $100 billion of capital that can be written down in a crisis to meet proposed global rules for lenders deemed too big to fail. Mitsubishi UFJ Financial Group Inc. (8306), Sumitomo Mitsui Financial Group Inc. (8316)and Mizuho Financial Group Inc. (8411) face an aggregate shortfall of 3.2 trillion yen to 10.5 trillion yen ($30 billion to $98 billion) that they would need to plug by selling debt, according to estimates by analysts.
Updated 5 Years ago

The project is part of a $30m prize from Google offered to a team that can send video back from the moon. The robot has already been shown to potential investors, including Apollo 9 astronaut Rusty Schweickart.
Updated 5 Years ago

The total pay package is largely made up of share awards, and most of the payments will be made over several years. News of the package comes less than a month after Mr Nadella advised women not to ask for a pay rise but to have "faith in the system".
Updated 5 Years ago

Yahoo was required to sell part of its stake ahead of the Chinese firm's stock market floatation, netting it $6.3bn. That made up for a continuing fall in advertising sales at Yahoo.
Updated 5 Years ago

China grew 7.3 percent in 3Q of 2014, the lowest since 2009. The government said it was quite comfortable with a slowdown from a 7.5 percent growth in the previous period, as all of its partners in the emerging markets and in the EU are losing steam. The Chinese Government called the third quarter result a ‘new normal’, as they expect the full year result to be at 7.5 percent. The fresh data released Tuesday by the Chinese National Bureau of Statistics comes at a time when other emerging economies are slowing and the EU member states risk falling into a triple – dip recession.
Updated 5 Years ago

The concept of maintenance involves understanding and optimising the performance of a built environment. In particular, the maintenance of mechanical and electrical services in any building is a significant overhead, making it essential to maintain installed equipment cost effectively without compromising the building’s ability to function. The facilities manager therefore, requires a maintenance programme to ensure all equipment is operating correctly and efficiently. Maintenance activities fall into two basic categories – planned (routine maintenance) and unplanned (breakdowns).
Updated 5 Years ago

For the first time in five years, returns on investment in residential properties on the mainland areas of Lagos, Nigeria’s commercial capital, has tumbled to 2 percent over declining capital values and tottering demand, a new report on Asset Class Performance in the Nigerian Investment Portfolio by Residential Auctions Company (RAC) has revealed. The report which defines expected total returns from an investment as a combination of the capital growth (appreciation in value) of the security over a time period, says that the income return depends on the asset class which could be dividends for equities, coupons for bonds and rental income for property.
Updated 5 Years ago

One of the major highlights of the recent rebasing of the Nigerian Gross Domestic Product (GDP), now valued at $510, was the revelation of the performance of the various sectors of the national economy and their impact or contribution to the overall performance of the economy. For the mortgage sector and its operators, it was not cheering news that the sector which, in developed economies of the world, is a major contributor to economic growth and development, makes less than one percent contribution to the GDP.
Updated 5 Years ago

The International Monetary Fund (IMF) has warned African countries against rushing to issue Eurobonds, saying they may face exchange rate risks and problems repaying debts. African governments facing falling levels of foreign aid are on a borrowing spree to pay for new roads, power stations and other infrastructure, prompting concern from many analysts that this could raise debt levels and undermine growth.
Updated 5 Years ago