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TECH

Online travel sites getting squeezed by Airbnb, hotel chains

Online travel booking sites Priceline Group and TripAdvisor took a beating from investors on Nov 7, highlighting how the companies' once industry-disrupting model is under growing pressure from other competitors.

TECH

iPhone markups shrink in China’s grey market, squeezing dealers

Apple Inc investors may be cheering as the iPhone X’s debut propels the stock to all-time highs, but the mood among sellers of the handset in Beijing is decidedly less upbeat.

World

Saudi mass arrests jolt markets but many see overdue swoop on corruption

RIYADH (Reuters) - All major Gulf stock markets slid on Tuesday on jitters about Saudi Arabia's sweeping anti-graft purge, a campaign seen by critics as a populist power grab but by ordinary Saudis as an overdue attack on the sleaze of a moneyed ultra-elite.

Corporate News

HK stocks rise, fuelled by red-hot China Literature debut

SHANGHAI: Hong Kong stocks rose to a fresh decade high on Wednesday morning, powered by investor enthusiasm for tech stocks, as shares in China Literature Ltd doubled in their red-hot debut.

Business

KLCI down on selling pressure

KUALA LUMPUR: Share prices on Bursa Malaysia closed lower at midday on lack of follow-through support with some profit-taking seen in selected counters

Economy

China October exports growth slow as economy cools, imports still robust

BEIJING: China's exports rose at a slower pace in October as expected, but import growth beat forecasts in a sign domestic demand remained robust despite Beijing's crackdown on pollution that analysts say will reduce factory output and crimp overall economic growth.

Corporate News

Snap overhauling app to attract users after sluggish growth

SAN FRANCISCO: Snap Inc. still isn’t meeting much-lowered projections for growth. Now the company is taking drastic measures to shape its future.

Business

Asia stocks pause at peaks, ponder US tax muddle

SYDNEY: Asian shares paused at decade peaks and the dollar dipped on Wednesday amid concerns Republican plans for major U.S. tax cuts were running into headwinds even before the Senate releases its own version of the proposals.

Business

Hottest Asia stock fuels 500% rally with stake sale

SHANGHAI: China Evergrande Group, Asia’s hottest stock, raised US$9bil from selling a stake in a property unit, exceeding its previous guidance for the fundraising and providing more fuel for a rally that has crushed short-sellers.

Business

End investors set to gain from EU overhaul of securities laws

LONDON: In financial markets, few have a good word to say for MiFID II, the European Union overhaul of securities laws going into effect in January. Mark Holman, chief executive officer of fixed-income specialist at TwentyFour Asset Management, begs to differ.