China's Jiangsu Hengrui Pharmaceuticals aims to raise up to $1.27 billion in Hong Kong IPO
($1 = 7.8042 Hong Kong dollars)
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Reuters
2 minutes ago
- Reuters
McDonald's to sell 8 Hong Kong retail spaces valued at $153 million, JLL says
HONG KONG, July 28 (Reuters) - McDonald's Corp (MCD.N), opens new tab is planning to sell eight prime retail properties in Hong Kong with a total market value of around HK$1.2 billion ($152.89 million), JLL, which has been appointed as the sole agent of the sale, said on Monday. The McDonald's outlets in the locations will remain operational, JLL executive director of capital markets Eunice Tang said in a statement. Hong Kong Economic Times reported earlier on Monday McDonald's planned to sell all of its 23 retail spaces - valued at nearly HK$3 billion in total - in batches, but it would continue operating in existing locations as tenants, and the sale would not affect its operations in the city. McDonald's has around 256 restaurants in Hong Kong, the report said, many in rented spaces. McDonald's Corp could not be immediately reached for comment. In 2017, Chicago-based McDonald's Corp sold an 80% stake in its mainland Chinese and Hong Kong operations to a group that included CITIC Ltd ( opens new tab, its investment arm CITIC Capital, and Carlyle Group for up to $2.1 billion. But the assets remain under McDonald's Corp. The sale of the eight retail properties is offered through a public tender that ends on September 16. JLL said it had already received significant interest from a wide pool of potential investors. All the properties are secured with long-term McDonald's leases, and they are available for purchase either individually or as a portfolio, it added. Overall prime street rents in the first quarter have fallen back to 2003 levels, as Hong Kong's retailers battle shifting consumer habits that have led to a wave of store closures. ($1 = 7.8490 Hong Kong dollars)
Reuters
2 minutes ago
- Reuters
Gold stages rebound on dollar weakness; US, EU ink tariff deal
July 28 (Reuters) - Gold prices gained in choppy trading on Monday, as a weaker dollar helped to offset pressure from improved risk appetite after United States and European Union announced a trade framework agreement. Spot gold was up 0.2% at $3,342.62 per ounce, as of 0421 GMT, after touching its lowest level since July 17. U.S. gold futures edged 0.2% higher to $3,342.90. The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods - half the threatened rate - and averting a bigger trade war between the two allies that account for almost a third of global trade. However, the agreement left key issues unresolved, including tariffs on spirits. The agreement eased transatlantic trade tensions, putting pressure on gold, said Jigar Trivedi, a senior commodity analyst at Reliance Securities, adding that it also softened the dollar index, which provided some cushion to bullion. The U.S. dollar index (.DXY), opens new tab eased 0.1%, making greenback-priced bullion more affordable for overseas buyers. Risk sentiment improved following the agreement, with European currencies and U.S. stock index futures trading higher. Meanwhile, senior U.S. and Chinese negotiators are set to meet in Stockholm later in the day to address long-standing economic disputes, seeking to extend a truce that has prevented higher tariffs. "In the short term, we don't expect gold to experience wild swings. Investors are turning their focus to a pivotal week for U.S. monetary policy and economic data," Trivedi said. The Federal Reserve is expected to maintain its benchmark interest rate in the 4.25%-4.50% range after its two-day policy meeting concludes on Wednesday. U.S. President Donald Trump said on Friday he had a positive meeting with Powell, suggesting the Fed chief might be inclined to lower interest rates. Spot silver was up 0.2% at $38.21 per ounce, while platinum gained 1.2% to $1,417.67 and palladium rose 2.9% to $1,254.98.
BBC News
32 minutes ago
- BBC News
US-China talks to restart as hopes grow for trade war truce extension
The US and China are due to start a fresh round of talks on Monday as expectations grow that the world's two biggest economies could agree a 90-day extension to their trade war meetings in Sweden - led on Washington's side by Treasury Secretary Scott Bessent and for Beijing by Vice Premier He Lifeng - come hours after US President Donald Trump announced a framework tariffs deal with the European current 90-day truce between the US and China - which saw the two countries temporarily lowering tariffs on each other - is set to end on 12 Trump returned to the White House in January, the US and China had raised import levies on each other to more than 100%. The current 90-day tariffs pause came after top officials from the US and China met in Geneva and London earlier this week, Bessent said talks with China were in "a very good place" and suggested the new round of talks could result in a second Monday, citing sources on both sides, the Hong Kong-based South China Morning Post reported that the US and China are expected to extend the truce by another three BBC has contacted the Chinese embassy in the US and the US Treasury Department for latest US-China talks come after Washington struck deals with both the EU and Japan in the last Sunday, Trump and European Commission President Ursula von der Leyen announced a trade agreement ended a months-long standoff between two of the world's biggest economic week, Trump said Washington had agreed a "massive" trade deal with the agreement, Japan would invest $550bn (£407bn) in the US while its goods sold to America would be taxed at 15% when they reach the country - below the 25% tariff Trump had US has also struck tariffs deals with the UK, Indonesia and 10%, Britain has negotiated the lowest US tariff rate so similar breakthrough is expected from the US-China talks this week but, with expectations of an extension to their truce, there are hopes that global trade will not be hit by fresh tariffs disruption.
