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Today's Top Market Headlines – Jun 28, 2017
A Short Guide to the ECB's High- Powered Central Bank Panel

·Draghi, Carney, Kuroda and Poloz to hold public discussion
·Governors are at very different places on normalization path

When central-bank governors for almost a quarter of the world’s economy join
each other in Portugal on Wednesday, they can share tales of just how complex
their jobs have become.
The European Central Bank’s annual forum in Sintra will close with a policy
panel featuring the heads of the ECB, Bank of England, Bank of Japan and
Bank of Canada. The session, moderated by Bank of Israel Governor Karnit
Flug — a rare female face in central banking — should highlight how the
institutions are still struggling to return to policy normality almost a decade
after the global financial crisis.
Set a reminder to watch a live stream of the panel at 2.30 p.m. London time
By Paul Gordon
June 28, 2017, 9:11 AM GMT+3 June 28, 2017, 9:58 AM GMT+3
Source: https://bloom.bg/2tWI5OO

Yellen Fed Ramps Up Attention Over ‘Somewhat Rich’ Asset Prices

·Stocks drop after Yellen calls attention to elevated prices
·Fischer says equities don’t simply reflect economic outlook

It’s not an alarm bell, but Federal Reserve officials are suddenly talking more
about rising asset prices.
Fed Chair Janet Yellen, Vice Chair Stanley Fischer and San Francisco Fed
President John Williams on Tuesday all acknowledged that valuations in
equity and other asset markets had risen noticeably in recent weeks.
By Christopher Condon, Steve Matthews and Jeanna Smialek
June 28, 2017, 12:12 AM GMT+3
Source: https://bloom.bg/2tj6gd2

Alibaba to Invest $1 Billion in Lazada to Speed Asian Drive

·The Chinese company is taking its stake to 83% from 51%
·Deal extends its presence in a nascent Southeast Asia market

Alibaba Group Holding Ltd. will invest another $1 billion to raise its stake in
online mall Lazada Group SA to 83 percent, securing control of a fast-growing
startup at the vanguard of its Southeast Asian expansion.
The Chinese e-commerce leader is buying out most other backers in a deal that
values the Singapore-based startup at $3.15 billion, Lazada CEO Maximilian
Bittner said, with management and Temasek Holdings Pte. remaining as the
only other investors. Lazada backers Rocket Internet SE and Investment AB
Kinnevik said Wednesday they were among the sellers. The startup’s
previously disclosed backers also include British supermarket chain Tesco Plc.
By Lulu Yilun Chen
June 28, 2017, 12:00 PM GMT+3 June 28, 2017, 1:36 PM GMT+3
Source: https://bloom.bg/2tnGJzx

Toshiba Sues Western Digital for 120 Billion Yen in Damages

·Lawsuit aimed at stopping ’acts of unfair competition’
·Legal battle intensifies as Toshiba seeks to sell

chip unit
Toshiba Corp. sued Western Digital Corp. in a Japanese court, asking for 120
billion yen ($1.1 billion) in damages and seeking to stop the U.S. company
from interfering in the sale of its chip unit, escalating a legal tussle between the
The litigation, filed Wednesday in Tokyo District Court, seeks to stop Western
Digital from making ownership claims over the enterprise that Toshiba is
trying to sell. The Japanese company said in a statement that Western Digital’s
employees improperly obtained proprietary information.
By Pavel Alpeyev
June 28, 2017, 8:06 AM GMT+3 June 28, 2017, 11:17 AM GMT+3
Source: https://bloom.bg/2slOSzG