Mnuchin told CNBC that he's confident President Donald Trump and President Xi Jinping can make progress in stalled trade talks.World Economyread more
President Donald Trump's administration hopes additional sanctions on Iran will force the country to negotiate.Politicsread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.Real Estateread more
Tesla CEO Elon Musk sent out another email to his employees, pushing them to aim for a record number of vehicle deliveries to end the second quarter of 2019.Technologyread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
The Senate is expected to pass its own version of the border aid legislation, while the Trump administration has threatened to veto both bills.Politicsread more
Some 4 million people have fled the South American country since 2015 amid an economic meltdown.World Politicsread more
Japanese designer Undercover posted on its Instagram account a photo of protesters with the slogan "no extradition to China," the Financial Times reported.China Politicsread more
President Trump announced fresh sanctions on the Islamic Republic on Monday, following the downing of an unmanned American drone last week.Politicsread more
LONDON, June 11 (Reuters) - Huatai Securities, one of China's largest brokerages, on Tuesday set a price range of $20 to $24.50 per global depositary receipt (GDR), aiming to raise at least $1.2 billion in the first London offering of its kind, according to a bookrunner.
Huatai would become the first Chinese company to sell shares in London, effectively launching the long-awaited London-Shanghai stock connect project that was intended to begin late last year.
A planned December listing of Huatai was delayed at the last minute, with sources then citing uncertainty about how China's government would treat any currency conversion back into yuan.
China's State Administration of Foreign Exchange took steps to resolve such issues earlier this year.
The company, which has a range of businesses, including brokerage, wealth management and investment banking, plans to sell up to 82.5 million new GDRs, representing 10% of the company's total share capital.
Under the Connect, Shanghai-listed companies can raise fresh funds via London's stock market while British companies can broaden their investor base by selling existing shares in Shanghai.
The deal is expected to price on June 14, according to the bookrunner.
Huatai, whose yuan-denominated "A-shares" currently trade in Shanghai, is looking to use the proceeds of the listing to fund expansion at home and abroad. (Reporting by Clara Denina; Editing by Mark Potter)