Alibaba proposes one-to-eight stock split ahead of up to $20 billion HK listing

China's Alibaba Group Holding has proposed a one-to-eight stock split ahead of a listing in Hong Kong later this year that is expected to raise up to $20 billion. The split, to be presented to shareholders for a vote at an annual general meeting in Hong Kong on July 15, will increase flexibility in the firm's capital raising activities, including the issuance of new shares, the e-commerce giant said. The firm's board recommends shareholders to vote in favour of the proposal, it added in its statement dated Friday but published on the company's website on Monday.

• Alibaba proposes stock split ahead of Hong Kong listing

  Financial Times
• Alibaba Plans Stock Split as It Preps Giant Listing

  Bloomberg

Huawei CEO says underestimated impact of U.S. ban, sees revenue dip

Huawei Technologies Co Ltd's founder and CEO Ren Zhengfei said the impact of a U.S. ban on the Chinese company was more severe than expected and warned that revenue would dip to around $100 billion this year and the next. This is the first time that Huawei has quantified the impact of the U.S. action against the company and Ren's downbeat assessment comes after weeks of defiant comments from company executives who maintained Huawei was technologically self-sufficient. Huawei had not expected that U.S. determination to "crack" the company would be "so strong and so pervasive", Ren said, speaking at the company's Shenzhen headquarters on Monday.

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  U.S. chipmakers quietly lobby to ease Huawei ban: sources

  Reuters
• U.S. chip makers seek easing of Huawei ban: report

  MarketWatch

This New York-listed Chinese electric carmaker’s flagship vehicle keeps catching fire

Even though electric vehicles are less likely to catch fire than gasoline-powered cars, cases of EVs bursting into flames are nonetheless unsettling—especially when they happen to prominent companies like California carmaker Tesla and New York-listed Chinese car brand NIO. NIO's flagship battery sports utility vehicle ES8 caught fire in China's central Wuhan city on Friday afternoon (June 14), local newspaper Chutian Metropolis Daily (link in Chinese) reported. A witness at the scene told the newspaper he saw black smoke and fire coming from the seven-seater's chassis, while firefighters said there was a small explosion when they tried to put out the fire.

Huawei Braces for 40-60% Drop in Overseas Smartphone Sales

Huawei Technologies Co. is preparing for a 40% to 60% drop in international smartphone shipments as the Trump administration's blacklisting hammers one of the Chinese tech giant's most important businesses. Selina Wang reports on "Bloomberg Daybreak: Asia."

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  U.S. chipmakers quietly lobby to ease Huawei ban: sources

  Reuters
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  Huawei CEO says underestimated impact of U.S. ban, sees revenue dip

  Reuters

What You Need to Know About Capital-Gains Taxes (but Probably Don’t)

The law is a lot more complicated than many people think.

Trump Rattles Emerging Markets With Threat of China Tariffs

Emerging-market currencies halted a three-week advance last week on heightened tensions in the Persian Gulf and doubts about a trade deal after President Donald Trump threatened to raise tariffs on China again. Stocks moved in the opposite direction, extending gains for a third week amid bets of easing monetary policy in both developed and emerging economies in response to lower-than-expected growth. Read here, our emerging-market week ahead story.

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  New China Tariffs Move Closer With Public Hearings This Week

  The Wall Street Journal
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  India Increases Tariffs On US Goods After Trump Action On Trade

  Yahoo View

Here's the secret for living longer and loving retirement

Early retirement is a popular dream with a whole movement devoted to it: FIRE, or financial independence, retire early. A December 2017 paper by Professors Maria D. Fitzpatrick and Timothy J. Moore for the National Bureau of Economic Research showed male mortality rates rose 2% starting the month men turn 62.

Exclusive: Banks face new challenges in Italian diamond scandal

A long-running criminal probe into diamond sales by Italian banks has uncovered what prosecutors say is further evidence of corruption by officials at UniCredit, Italy's largest lender, and smaller rival Banco BPM. The allegations, some previously unreported, are laid out in documents used by prosecutors when they sought a magistrate's order seizing assets from the banks and two diamond brokers. The allegations relate to suspected crimes and do not necessarily mean that prosecutors will charge the companies and their employees when their investigation, which has been running since 2016, is concluded.

Amazon, Google, and Uber are fundamentally misunderstood, says ServiceNow CEO John Donahoe

Amazon (AMZN) delivers paper towels and candles specifically for left-handed people, Google (GOOG, GOOGL) provides search results, and Uber (UBER) sends a car—but these forward-facing services sow a complete misunderstanding of the companies, according to a Silicon Valley CEO. “They're all cloud companies,” says John Donahoe, the former eBay CEO (EBAY) and current chief executive of management software company ServiceNow (NOW).

An Easier Path to Millions

Today we share with you the first in a series of essays on ways investors can build their wealth — not by relying on any individual stock to make them a millionaire … but simply by choosing the right mutual fund investments. Dan Wiener brings more than 30 years of experience in the fund industry to his Independent Adviser for Vanguard Investors service. Dan and his co-editor, Jeff DeMaso, are dedicated to bringing subscribers the secrets Vanguard doesn't share with the public.

Dow Jones Futures: As Stock Market Rally Aims To Advance, Watch These 5 Dow Stocks

Apple stock has a new base while Microsoft, Walt Disney and Home Depot are in or near buy points. Meanwhile, Boeing and Airbus will duel for jet orders air supremacy at the Paris Air Show, amid reports that the FAA may begin Boeing 737 Max flight trials this week. Apple, Microsoft stock, Disney stock, Home Depot stock and Boeing stock are all members of the Dow Jones industrial average.

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  Boeing 737 Max: Ethiopian Airlines boss rejects US blame on pilots

  The Independent
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  Boeing says will take time to win back confidence

  Reuters

China Government Bonds Favored, Deutsche Bank's Liu Says

Linan Liu, Greater China rates and foreign exchange strategist at Deutsche Bank, talks about the Chinese economy, policies and bonds. She speaks on "Bloomberg Markets: China Open."

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  Deutsche Bank Weighs Up to $56 Billion Bad-Bank Unit, FT Reports

  Bloomberg
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  Deutsche Bank to set up 50 billion euro bad bank: source

  Reuters

Wahaca changes eat-and-run policy after waiter asked to pay part of bill

A waiter in a London branch was asked by the manager to pay £3 towards a £40 unpaid bill.

Long-awaited London-Shanghai share listing project goes live

Companies listed in Britain will be able to sell shares in China on Monday with the launch of a long-awaited London-Shanghai Stock Connect project that finance minister Philip Hammond called a chance to deepen "global connectivity". Under the Connect scheme, Shanghai-listed companies can raise new funds via London's stock market while British companies can broaden their investor base by selling existing shares in Shanghai. The project was intended to begin late last year with the December listing of Chinese brokerage Huatai, backed by Alibaba Group Holding Ltd. But the listing was delayed at the last minute.

• London-Shanghai stock link hailed as ‘groundbreaking’

  Financial Times
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  China kicks off Shanghai-London Stock Connect with initial quota

  Reuters

UBS loses role in bond deal for Chinese firm on outcry over pig comment

UBS has lost a lead role on a U.S. dollar bond deal for state-backed China Railway Construction Corp, just days after a Chinese outcry over a senior UBS economist's use of "pig" in connection with Chinese food price inflation. While UBS apologized for the remark on Thursday and put the analyst on leave on Friday, the furor led Haitong International Securities, a leading Chinese brokerage, to suspend all business with the Swiss group as some Chinese bankers and analysts criticized the bank for a lack of cultural awareness. On Monday, a spokesman at Chinese infrastructure giant CRCC confirmed it had dropped the Swiss banking giant from the deal, but did not give a reason.

• UBS must resist social media bullying over ‘Chinese pig’ comment

  Financial Times
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  UBS Loses China Bond Deal After Economist's Pig Remark

  Bloomberg

5 Top Stocks to Protect Your Portfolio

In another example of corporate resiliency, JNJ was recently given a buy rating with a $157 price target by five-star analyst Joanne Wuensch (Track Record & Ratings) of BMO Capital, after she reviewed the status of current legal action the company faced in the state of Oklahoma in regard to the opioid abuse epidemic. Wuensch notes that the case will likely be resolved quickly, and points out, “Litigation is a common occurrence in the health care sector that takes significant time to resolve, and often headlines are worse than reality. Her price target indicates confidence in the stock, and a 12% upside.