With markets being relatively still at the end of the week there are different news from aroung the glode. Also, markets overview inside the article.
Richest man of Hong Kong retired.
Li Ka-shing has done a lot of things in his life. He went from a floor-sweeping refugee to the richest man in Hong Kong. Now he is the CEO of CK Hutchison Holdings Ltd. and CK Asset Holdings Ltd. He is now retired from the position but will, of course, remain the advisor for the board members. His eldest son Victor is taking his place in the CEO chair.
"Looking back all these years, it’s my honor to have founded Cheung Kong and to have served society," Li told the journalists in Hong Kong. “It’s been "my greatest honor," he said.
According to various resources fortune of Li Ka-shing adds up to $34 billion. His companies are taking an active part in lives of virtually everyone in the country. The company owns Power Assets Holdings Ltd. That generates electricity for the grocery stores; there are also mobile phone stores and ports owned by the Li’s companies around the world.
Toys R Us are closing up – what’s next?
Kids these days… they don’t want to play with a brand-new police car toy or a Barbie doll like in the good old days. Today even toddlers know how to unlock a tablet and launch their favorite video on YouTube – that pretty much all they want. Because of the technological boom toy stores are suffering and closing up. And there is no sense to talk about small shops if even such conglomerated Toys R Us is shutting their doors.
More than 700 shops around US – that’s the spread of the stores around the company. Or used to be. Now all the stores are going to be empty. Imagine how many landlords are going to be unhappy about it. Millions of square feet of the real estate are left empty.
Toys R us was tied with the debt since 2005. All of the investors and fans of the shops were shocked when the decision to close the network was taken in the middle of 2017.
Stocks, currencies and crude overview.
Nothing special is coming from Asian and American markets today, but Trump is giving all the world markets the reason for worrying – rumors that the security adviser may be removed are shaking the situation, but not as strong as the advisers would think.
Stoxx Europe 600 Index thinned up by 0.05 percent.
MSCI Emerging Market Index fell 0.2 percent.
S&P 500 Futures were down 0.2 percent.
Nikkei 225 Stock Average lost 0.6 percent – the lowest point for the index in a week.
Dollar sank against the basket of 6 major currencies by 0.1 percent.
Yen found strength in the form of 0.6 percent gain that brought it to the point of 105.67 yen per dollar.
WTI oil went up 0.1 percent - $61.23 per barrel.
Gold is up 0.2 percent - $1.318.62 per ounce.
