PRESS DIGEST - Wall Street Journal - Feb 23
Feb 23 The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
HONG KONG Feb 20 China's Tencent Holdings Ltd is in talks to combine its e-commerce business with rival online retailer JD.com, Bloomberg reported on Thursday, citing two anonymous sources familiar with the matter.
The companies are considering several options, including Tencent getting a 6 percent stake in JD.com in exchange for merging its less-popular online shopping operations with JD.com's more established platform, the report cited one source as saying.
Tencent declined to comment when contacted by Reuters. A spokesperson for JD.com told Reuters it was not company policy to comment on market rumors.
The 21st Century Business Herald newspaper had reported on Wednesday that Tencent may buy a stake in JD.com, citing an unidentified investment banking source.
JD.com, China's second-largest e-commerce company, filed on Jan. 30 for a U.S. listing of its shares, following market leader Alibaba Group Holding Ltd in tapping into rising investor enthusiasm surrounding China's booming online retail market.
Feb 23 Britain's FTSE 100 index is seen opening 4 points higher, or up 0.05 percent on Thursday, according to Financial spreadbetters. * The blue-chip FTSE 100 index ended up 0.4 percent at 7302.25 points, as Lloyds reported its highest annual profit in a decade and Unilever promised a far-reaching review. * BANK OF ENGLAND: Bank of England Deputy Governor Jon Cunliffe warned on Wednesday that requiring financial instruments to be cleared in a country that uses the c
LONDON, Feb 23 Britain's BAE Systems said it expected increased defence budgets to boost its earnings by 5-10 percent this year after it met market expectations with a 7 percent rise in 2016.