Aruba Networks Inc., a maker of components for mobile devices, plunged as much as 21 percent in early trading after reporting preliminary sales and profit that missed estimates as customers postponed orders.
HSBC Holdings Plc, Europe’s largest bank, posted a bigger-than-estimated increase in first-quarter profit after provisions for bad loans shrank, stirring speculation the lender may step up its cost-reduction targets.
Malaysia’s Anwar Ibrahim struggled to swing voters in government strongholds where his own ethnic group is dominant, thwarting his ambition to take power from a ruling coalition he helped lead before his ouster in 1998.
Coutts & Co. scaled back gold holdings as prices fell through $1,600 an ounce, saying that a return to the peak isn’t likely unless there’s a crisis in the Middle East, a weaker dollar or a jump in inflation.
Seeking to hedge against rising rents and a shortage of space, banks and insurers are on a record spree of buying office buildings in Hong Kong, where occupancy costs are the second-highest in the world.