Asian shares slip, dollar pulls away from highs

Asian shares skidded on Monday as investors awaited data this week that could provide more evidence of a slowdown in China, while the dollar gave back a little of its recent gains. China's flash manufacturing PMI reading on Tuesday could come in below the 50 level, indicating that manufacturing activity is contracting. "The psychological effect of a below-50 reading will be significant and consistent with the slew of softer Chinese data over recent weeks." Mitul Kotecha, head of FX strategy Asia-Pacific for Barclays in Singapore, said in a note to clients. China will not dramatically alter its economic policy because of any one economic indicator, Finance Minister Lou Jiwei said on Sunday, in remarks at a meeting of finance ministers and central bank chiefs from the Group of 20 nations who met in the Australian city of Cairns.


Siemens in agreed $7.6 billion deal to buy Dresser-Rand

Industrial conglomerate Siemens AG (SIEGn.DE) said on Monday it would buy U.S. Germany's Siemens said its $83 per-share bid was unanimously supported by Dresser-Rand's board of directors. Within minutes of that statement, it also announced the sale of its 50 percent stake in BSH Bosch und Siemens Hausgeraete GmbH to joint venture partner Robert Bosch GmbH for 3 billion euros ($3.85 billion), ending their more than 45 year alliance in household appliances. "As the premium brand in the global energy infrastructure markets, Dresser-Rand is a perfect fit for the Siemens portfolio.


Alibaba's IPO biggest ever globally after additional shares sold: source

Alibaba Group Holding Ltd (BABA.N) and some of its shareholders have sold an additional 48 million shares, a source with direct knowledge of the deal said on Monday, making its IPO the biggest-ever globally at a value of $25.03 billion. Alibaba and several shareholders initially sold 320.1 million American Depositary Shares in its offering, which priced at $68 each last week. Underwriters had the option to sell additional shares from Alibaba, Yahoo Inc (YHOO.O) and Alibaba co-founders Jack Ma and Joe Tsai, according to the IPO prospectus. Representatives for Alibaba in Hong Kong did not immediately respond to a request for comment on the sale of the additional shares.


Week ahead: Will BlackBerry find success in comeback bid?

It’s Alibaba’s world and we’re all just living in it this week, but there’s plenty more to look forward to next week! Yahoo Finance’s Jeff Macke, Aaron Pressman, Michael Santoli and Aaron Task break down everything you need to know before your morning grind on Monday.


Alibaba worth more than $200B... just what is it?

Alibaba made a blockbuster debut on the NYSE Friday, valuing the China-based e-commerce giant north of many blue-chip firms. Still, many Americans have never heard of it.


This is why the middle class can't get ahead

We're barely halfway through an income depression that has degraded middle-class living standards.


Influential fund manager warns of China risks

Jim Chanos warned of risks to China's economy just as Chinese e-commerce giant Alibaba set a record for the largest-ever initial public offering.


Apple wants to change the way you spend money

As fans pocket new iPhone 6 models, they'll be discovering a new function: Apple Pay. Will consumers and merchants adopt the new payment technology?


Wall Street regulator shines more light on dark pools

Wall Street's self-funded regulator unveiled a list of proposals on Friday to bolster rules governing alternative trading platforms like "dark pools," computerized high-speed trading, and price transparency in the corporate bond market. The proposals, which were approved by the governing board of the Financial Industry Regulatory Authority (FINRA), would require the people who develop computer algorithms to register with regulators. They would also force alternative trading platforms to report more data to FINRA about buy and sell orders as well as trading volumes for over-the-counter products. In the fixed income space, FINRA also said it plans to propose stricter rules to enhance the price transparency of the corporate bond market.


Oracle CEO shakeup: what it means for the company

Oracle founder Larry Ellison is stepping down -- sort of. He'll move from CEO to chairman and CTO.

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