Wall Street’s ‘fear gauge’ spikes but unlikely to be pointing to a market crash

NEW YORK – Wall Street’s ‘fear gauge’ is soaring again, as investors spooked by Thursday’s market decline rushed to load up on options protection, but analysts said the intensity of the move in volatility does not necessarily point to a market crash. The Cboe Volatility Index .VIX, which for weeks had been easing toward its […]

Continue Reading

EssilorLuxottica to appeal court verdict over GrandVision

PARIS – Spectacles maker EssilorLuxottica ESLX.PA said it would appeal against a Dutch court’s verdict that had rejected its contention that takeover target GrandVision GVNV.AS had breached a deal agreement. Last month, the Rotterdam district court said EssilorLuxottica had failed to prove its claim that Dutch peer GrandVision had breached the agreement by not seeking […]

Continue Reading

China’s ByteDance buys UIPay to leverage e-payment capabilities at home

BEIJING/SHANGHAI – ByteDance, the owner of popular short-video app TikTok, said it has acquired a Chinese third-party payment service UIPay in a bid to leverage its domestic payment capability. ByteDance bought UIPay’s operator, Wuhan Hezhong Yibao Technology Co, via an entity called Tianjin Tongrong E-commerce Co, data from the national business registration portal showed. The […]

Continue Reading