Luxury-home rents in Hong Kong and Singapore, two of Asia’s most expensive cities for apartment leases, are declining for a third year as banks squeezed by slowing growth cut budgets for expatriate workers.
Morgan Stanley can’t ask a court in Singapore to block investors there from suing outside the country over their losses on $154.7 million in synthetic collateralized debt obligations, a judge in New York ruled.
On the morning of May 18, Kevin Barnes published a report accusing executives of Chinese fertilizer maker Yongye International Inc. of using acquisitions to loot cash from the company and manipulate earnings.
Rio Tinto Group is pursuing an initial public offering of its gem unit, the world’s largest supplier of natural colored diamonds, after failing to find a buyer, according to a person familiar with the matter.
Short sellers are preying on China’s Harbin Electric Inc. like never before, betting against a Morgan Stanley-backed hedge fund in a buyout that would generate the biggest windfall of any acquisition in the world.
Even a buyout bid from Morgan Stanley isn’t enough to boost investor confidence in Yongye International Inc., a Chinese fertilizer maker listed in the U.S. that short sellers say manipulated accounting.