International trade & market dynamics
Track changes in international trade policies and their effects on global economic dynamics.
International trade and market dynamics
France’s Budget Problems ‘Very Serious,’ Prime Minister Says
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The French government, which missed a deadline this week to show how it would cut its debt and deficit, is struggling to meet fiscal requirements set by the E.U.
linkCopy linkshare_windowsShareCentral Banks Around the World Are Cutting Rates
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Inflation has fallen in most developed nations, and central bank officials are now trying to steer their economies toward a so-called soft landing.
linkCopy linkshare_windowsShareAlaska Airlines Chief Plans More Routes After a Deal With Hawaiian
The airline’s chief executive, Ben Minicucci, said in an interview that closing its acquisition of Hawaiian Airlines would allow it to expand, including on international routes.
linkCopy linkshare_windowsShareMark Cuban and Kamala Harris Unite Against Chinese Knockoffs to Protect U.S. Businesses
Mark Cuban is collaborating with Vice President Kamala Harris to combat the issue of Chinese knockoffs, which he claims threaten small businesses in the U.S. He emphasizes the need for stronger measures against counterfeit goods that cost American companies significantly.
linkCopy linkshare_windowsShareThai Scion Bets US-China Feud Will Ease Bangkok Property Glut
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Frasers Property Ltd., controlled by Thailand’s richest man, is banking on US-China tensions to help reduce an oversupply of office space that has plagued the country’s capital.
linkCopy linkshare_windowsShareThe Shadow Fleet Transporting Sanctioned Gas for Russia
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A network stretching from Dubai to China is involved in a multi-billion dollar effort to ship gas from Russia's Arctic LNG facility.
linkCopy linkshare_windowsShareChina expected to trim main policy rate and lending benchmarks: Reuters poll
China is widely expected to trim its main policy and benchmark lending rates on Friday, a Reuters poll showed, after the Federal Reserve's outsized interest rate cut removed some of the risks around sharp yuan declines.
linkCopy linkshare_windowsShareChina to ramp up policy steps to revive economy but no 'bazooka' stimulus seen
Chinese policymakers will likely step up measures to at least help the economy meet an increasingly challenging growth target for 2024, analysts and policy advisers say, with a sharper focus on boosting demand to fight persistent deflationary pressures.
linkCopy linkshare_windowsShareAnalog Devices, Tata Group in talks to make semiconductors in India
Analog Devices (ADI) and Indian salt-to-aviation conglomerate Tata Group have signed a pact to explore making semiconductor products in India, the U.S. chipmaker said on Wednesday.
linkCopy linkshare_windowsShareFed outsized rate cut draws muted reaction, but calm may not last
Investors who anticipated furious market swings following the U.S. Federal Reserve's bumper rate cut saw more of a muted reaction. That may be fleeting.
linkCopy linkshare_windowsShareAfter jumbo Fed rate cut, market hopes ride on US soft landing
Has the Fed kicked off rate cuts in time to keep the economy from slowing too fast?
linkCopy linkshare_windowsShareMorning Bid: UK inflation to keep BoE on cautious path
A look at the day ahead in European and global markets from Rae Wee
linkCopy linkshare_windowsShareCoffee growers look to postpone EU deforestation requirement
The world's top coffee body is set to request that the European Union postpone a requirement that imported beans come from areas not linked with deforestation, the group's head said on Wednesday.
linkCopy linkshare_windowsShareChina aircraft lessor orders 50 737 MAX jets, in boost to Boeing
China Development Bank Financial Leasing said its aircraft leasing unit would order 50 Boeing 737 MAX 8 jets, in a boost to the planemaker that has been grappling with a slowdown in Chinese orders and a strike by factory workers.
linkCopy linkshare_windowsShareDollar and stocks gain as Fed charts soft landing
The dollar bounced, long-dated bond yields were up and Asian stocks surged after the Federal Reserve announced a 50-basis-point rate cut and flagged a measured easing cycle ahead, leaving open a path to a soft landing for the U.S. economy.
linkCopy linkshare_windowsShareUS borrowers get quick relief as Fed cuts rates
U.S. consumers got an immediate reprieve on borrowing costs from banks after the Federal Reserve cut interest rates on Wednesday for the first time in more than four years.
linkCopy linkshare_windowsShareExclusive: Google offered to sell part of ad tech business, not enough for EU publishers
The European Commission last year charged Google with favouring its own advertising services, opening its fourth case against the world's most popular search engine.
linkCopy linkshare_windowsShareBoeing furloughs thousands as no progress made to resolve strike
Boeing said on Wednesday it will temporarily furlough tens of thousands of employees after about 30,000 machinists went on strike on Friday, halting production of its best-selling 737 MAX and other airplanes.
linkCopy linkshare_windowsShareYen Rebounds in Choppy Trading After Sliding 1% Versus Dollar
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The yen rebounded after dropping sharply against the dollar earlier Thursday, joining major currencies around the world that gained versus the greenback.
linkCopy linkshare_windowsShareNorway Keeps Rate Steady With Signal for First Cut in 2025
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Norway’s central bank is sticking with one of the rich world’s most hawkish monetary policy stances, dashing investor hopes that it would advance plans for a first cut in borrowing costs as soon as this year.
linkCopy linkshare_windowsShareECB’s Knot Is Comfortable With Market’s Rate-Cut Expectations
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European Central Bank Governing Council member Klaas Knot said he’s comfortable with investor bets on further interest-rate cuts.
linkCopy linkshare_windowsShareFed’s Rate Pivot Seen Driving Outsized Gain in Asian Assets
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The Federal Reserve’s shift to interest-rate cuts bodes well for Asian assets as many are underowned, and have better earnings prospects and more room to benefit from easing than their global peers.
linkCopy linkshare_windowsShareStocks Rally Gathers Pace After Fed’s Big Rate Cut: Markets Wrap
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Stocks rallied across the globe on expectations the Federal Reserve’s half-percentage-point interest-rate cut will protect the world’s largest economy from a downturn.
linkCopy linkshare_windowsShareGlobal Funds Cool on China Bank Debt With Inflows Shrinking
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Global funds’ purchases of Chinese bank notes suddenly slowed in August as a strengthening yuan and a likely pullback in currency intervention made a popular swap-based trade less appealing.
linkCopy linkshare_windowsShareLazard Follows Goldman in Setting Up Mideast HQ in Saudi Arabia
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Lazard Inc. became the latest Wall Street firm to comply with Saudi Arabia’s ultimatum for foreign firms to set up their Middle Eastern base in the kingdom, months after larger rival Goldman Sachs Group Inc. secured a similar license.
linkCopy linkshare_windowsShareIsrael's 'New Phase’ in War After Lebanon Blast & BOE Rates Preview | Daybreak: Europe 09/19/2024
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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. Today's guests: Janet Henry, HSBC Global Chief Economist, and Jackie Bowie, Chatham Financial Managing Partner. (Source: Bloomberg)
linkCopy linkshare_windowsShareHorizons Middle East & Africa 09/19/2024
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Horizons Middle East & Africa is your daily spotlight on one of the world's fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg. (Source: Bloomberg)
linkCopy linkshare_windowsShareSwiss Watch Industry Warns of Weakness Even as Exports Rise
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Swiss watchmakers warned of a worsening outlook for the industry, even as exports rose last month on demand for expensive timepieces made of precious metals.
linkCopy linkshare_windowsShareAsian Currencies Hit 14-Month High as Fed Cuts Interest Rates
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Asian currencies advanced to the strongest level in more than a year after the Federal Reserve kicked off policy easing and signaled further interest-rate reductions this year.
linkCopy linkshare_windowsShareWall Street’s New Era Off to Rocky Start as Fed Sows Doubts
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Jerome Powell delivered exactly what traders up and down Wall Street had long hoped for: A big interest-rate cut that would justify this year’s steep rally in stocks and bonds as the era of tight monetary policy finally began to reverse.
linkCopy linkshare_windowsShareEurope’s Diesel Imports Poised to Hit 17-Month High in September
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Diesel cargoes into the European Union and the UK are poised to climb in September to the highest in about 1 1/2 years, with a rebound in shipments from the Middle East helping to offset a small dip in US flows.
linkCopy linkshare_windowsShareRand Gains With SARB Poised for First Rate Cut in Four Years
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The rand gained Thursday morning ahead of a South African Reserve Bank interest rate decision, where the central bank is expected to deliver its first cut since July 2020.
linkCopy linkshare_windowsShareECB May Have to Accelerate Rate Cuts, Centeno Tells Politico
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The European Central Bank may have to quicken the pace that it lowers interest rates to avoid inflation falling short of forecasts, Governing Council member Mario Centeno told Politico.
linkCopy linkshare_windowsShareEurope Secures Winter Gas Supply Amid Russian Transit Route Closure
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Europe is well-prepared to maintain gas supplies this winter despite the impending closure of a key Russian transit route, thanks to early stockpiling.
linkCopy linkshare_windowsShareCopper Notches Two-Month High On Powell’s Half-Point Rate Cut
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Copper climbed to its highest level since mid-July as metals rallied on the Federal Reserve’s bid to defend US growth and the labor market with a half-point rate-cut.
linkCopy linkshare_windowsShareFed Cut May Spur Nigeria, Angola Eurobond Sales, BancTrust Says
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The Federal Reserve’s half-percentage-point interest-rate cut may pave the way for new debt issuance by African nations including Nigeria and Angola, according to BancTrust & Co.
linkCopy linkshare_windowsShareOil Gains as Traders Track Risk-On Tone and Middle East Tension
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Oil advanced as a risk-on tone swept across wider financial markets following the steep interest-rate cut by the Federal Reserve, while traders monitored escalating tensions in the Middle East.
linkCopy linkshare_windowsShareRupee rises to six-week high after Fed rate cut, importer dollar bids pick up
The Indian rupee rose to its strongest level in over six weeks on Thursday after the Federal Reserve kicked off policy easing with a 50-basis-point rate cut, but traders expect importer dollar bids to limit the currency's immediate gains.
linkCopy linkshare_windowsShareWaymo in talks with Hyundai Motor to produce self-driving taxis, media report says
Alphabet's Waymo is in talks with South Korea's Hyundai Motor to outsource manufacturing of its self-driving vehicles, South Korean newspaper, Electronic Times, reported.
linkCopy linkshare_windowsShareRupee faces challenge as US dollar surges after Fed's large rate cut
The Indian rupee's recovery on Thursday will have to contend with a broadly higher U.S. dollar despite the Federal Reserve delivering a 50-basis-point rate cut.
linkCopy linkshare_windowsShareFed rate cut lifts Indian shares to record high
Indian shares climbed to a record high on Thursday, led by information technology stocks after the U.S. Federal Reserve kicked off its monetary easing cycle with a large half percentage point rate reduction.
linkCopy linkshare_windowsShareOil prices little changed as US rate cut fails to boost sentiment
Oil prices were little changed on Thursday as lingering concerns over demand capped the potential benefits of a larger-than-expected Federal Reserve interest rate cut.
linkCopy linkshare_windowsShareDollar claws back losses after Fed goes big on rate cut
The U.S. dollar rose broadly on Thursday, reversing a brief tumble in the immediate aftermath of the Federal Reserve's outsized interest rate cut that had been largely priced in by markets.
linkCopy linkshare_windowsShareSouth Africa Seen Sticking to Modest Rate Cut Despite Fed Move
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The South African Reserve Bank will likely lower interest rates by 25 basis points on Thursday, despite a larger-than-expected overnight move by the Federal Reserve as it turns the screws on inflation.
linkCopy linkshare_windowsShareIndia Eclipsing China in MSCI Global Stock Gauges to Drive Flows
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India’s overtaking of China in key global gauges will likely usher in a bigger influx of foreign flows, giving equities in the South Asian country another boost.
linkCopy linkshare_windowsShareHong Kong Makes First Rate Cut Since 2020, Boosting Economy
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Hong Kong’s beleaguered real estate market is set for some relief after the city cut its base interest rate for the first time in four years, mirroring the Federal Reserve’s policy easing.
linkCopy linkshare_windowsSharePrabowo’s First $237 Billion Budget Wins Indonesia Parliament Approval
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Indonesia’s parliament approved a state budget that will help President-elect Prabowo Subianto get his administration and growth ambitions up and running next month.
linkCopy linkshare_windowsShareChina Ends Tariff Exemptions on Some Taiwan Agricultural Imports
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China will remove its tariff exemptions on some agricultural products imported from Taiwan as Beijing ramps up pressure on the democracy.
linkCopy linkshare_windowsShareBrazil Central Bank Lifts Its Interest Rate and Signals More Hikes Ahead, Bucking Global Trend
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Brazil’s central bank raised its interest rate by a quarter-point and said more hikes are coming on resilient growth and inflation expectations, moving in the opposite direction of the Federal Reserve and regional peers.
linkCopy linkshare_windowsShareFed Opens Up Policy Space Around the World Without Feeding Panic
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The Federal Reserve’s bold start to cutting interest rates and its determination not to fall behind the curve in easing has reshaped the policy horizon for counterparts spanning the globe.
linkCopy linkshare_windowsShareGulf Central Banks Follow Fed Cut as Oil Prices Head to $70
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Gulf policymakers followed the US Federal Reserve’s move to cut interest rates for the first time since the Covid-19 pandemic, giving the energy-rich region some respite from the impact of lower oil prices.
linkCopy linkshare_windowsShareArgentina Recession Deepened as Milei Shock Therapy Stung
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Argentina’s economy sunk deeper into recession in the second quarter as ripple effects from President Javier Milei’s currency devaluation and austerity exacerbated a downturn.
linkCopy linkshare_windowsShare
Biden Administration Extends Review Period for Nippon Takeover of U.S. Steel
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U.S. Steel’s chief, David Burritt, expressed confidence on Tuesday that the sale of the American manufacturer to a Japanese owner would close “on its merits” despite bipartisan backlash.
linkCopy linkshare_windowsShare$50 Billion in Aid to Ukraine Stalls Over Legal Questions
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U.S. and European officials are struggling to honor their pledge to use Russian assets to aid Ukraine.
linkCopy linkshare_windowsShareSalesforce Taps Nvidia to Develop AI-Powered Avatars
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The San Francisco companies said the collaboration will develop autonomous-agent and interactive-avatar experiences.
linkCopy linkshare_windowsShareBlackRock, Global Infrastructure Partners, Microsoft, MGX Launch AI Partnership
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The partnership, called the Global AI Infrastructure Investment Partnership, will additionally build out energy infrastructure to create power sources for the facilities, the companies said.
linkCopy linkshare_windowsShareTransportation Department Blesses Alaska Air-Hawaiian Merger, With Strings
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The carriers secured clearance from the Transportation Department to proceed with their merger, conditioned on the airlines maintaining service on crucial routes, preserving the value of frequent-flier miles and other customer-service guarantees.
linkCopy linkshare_windowsShareU.S. Steelmakers Warn of Lower Profits as Manufacturers Slow Factories
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Nucor and Steel Dynamics forecast a drop in third-quarter earnings, citing weaker demand and shaky prices.
linkCopy linkshare_windowsShareBurger King: A Cross-Continental Comparison of Menu and Experience
A comparison of Burger King in the UK and US reveals similarities in menu items and dining experiences, while highlighting unique offerings like vegetarian options in the UK and larger portion sizes in the US. Both locations maintain a strong international presence.
linkCopy linkshare_windowsShareBiden administration formally extends review of U.S. Steel deal, pushing decision past election
The Biden administration extended its review of Nippon Steel’s proposed takeover of U.S. Steel, effectively pushing a final presidential decision past Election Day.
linkCopy linkshare_windowsShareAttack: The Bloomberg Open, Europe Edition
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Good morning. Hezbollah says Israel was behind the pager blasts in Lebanon. Germany is sticking to a plan to sell its entire stake in Commerzbank. And the Fed is expected to cut rates today—but by how much?
linkCopy linkshare_windowsShareHow $90,000 Jeeps Made a Fool Out of Me
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Excessive vehicle prices and unhappy stakeholders have taken the shine off Stellantis chief Carlos Tavares.
linkCopy linkshare_windowsShareViktor Orban’s Big Bet on EVs Isn’t Quite Going to Plan
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Hungary has more at stake on a quick transition than any country in Europe, and the slowdown is now taking its toll on the economy.
linkCopy linkshare_windowsShareUltra-weak home prices in northern China arrive in southern powerhouses
Chinese homebuyers on a tight budget have long sought out Hegang, an ex-coal boomtown on the Russian border. Now, as China's property crisis spreads, Hegang's basement prices are showing up in wealthier regions in a new threat to the economy.
linkCopy linkshare_windowsShareVietnam's top leader Lam to meet Google, Meta in US next week, sources say
Vietnam's president and ruling Communist Party chief To Lam is set to meet representatives from several U.S. corporations, including Google and Meta, during a visit to the United States next week, two people briefed about the plans told Reuters.
linkCopy linkshare_windowsShareTraders brace for least predictable Fed meeting in years
Traders in global financial markets are facing extraordinary uncertainty as they await the U.S. Federal Reserve's expected rate cut on Wednesday, setting up markets for a burst of volatility.
linkCopy linkshare_windowsShareWith Fed's rate cut at hand, debate swirls over how big a move
Whether policymakers opt for a half-percentage-point cut or smaller move remains up in the air.
linkCopy linkshare_windowsShareBridgewater's Dalio and Singapore's GIC chief cautious on global outlook
Ray Dalio, founder of the world's largest hedge fund, and Lim Chow Kiat, the boss of Singapore's sovereign wealth fund GIC are increasingly cautious on the year ahead due to political risk and uncertain global growth prospects.
linkCopy linkshare_windowsShareMorning Bid: Traders still guessing in final Fed countdown
A look at the day ahead in European and global markets from Kevin Buckland
linkCopy linkshare_windowsShareCanadian union, GM extend contract talks deadline, averting strike at Ontario plant
Canadian labor union Unifor extended its deadline for contract negotiations with General Motors on Tuesday, averting a strike at the plant in Ingersoll, Ontario that makes electric vehicles and batteries.
linkCopy linkshare_windowsShareMeta faces hefty EU antitrust fine over classified ads practices, FT reports
Meta Platforms Inc is facing a hefty fine in the EU over its alleged efforts to dominate the classified advertising market, the Financial Times reported on Wednesday, citing people familiar with the matter.
linkCopy linkshare_windowsShareDollar drops vs yen, Asia stocks struggle as Fed looms
The dollar ceded some of its overnight gains on Wednesday while Asian stocks struggled as traders weighed the odds of a super-sized Federal Reserve interest rate cut later in the day.
linkCopy linkshare_windowsShareJapan's exports slow sharply, machinery orders shrink in blow to economic recovery
Japan's export growth slowed sharply in August as shipments to the U.S. dropped for the first time in three years, while machinery orders unexpectedly shrank in July in a worrying sign for an economy struggling to mount a solid recovery.
linkCopy linkshare_windowsShareUS decision on Nippon bid for US Steel pushed back to after Nov election, sources says
The U.S. national security panel reviewing Nippon Steel's $14.9 billion bid for U.S. Steel let the companies refile their application for approval of the deal, a person familiar with the matter said, delaying a decision on the politically sensitive merger until after the Nov. 5 presidential election.
linkCopy linkshare_windowsShareExclusive: Inside the US push to steer Vietnam's subsea cable plans away from China
The United States is urging Vietnam to avoid Chinese cable-laying firm HMN Technologies and other Chinese companies in its plans to build 10 new undersea cables by 2030, sources with knowledge of the talks said.
linkCopy linkshare_windowsShareBiden won't block potential strike at East Coast ports, administration official says
U.S. President Joe Biden does not intend to invoke a federal law to prevent a port strike on the East Coast and Gulf of Mexico if dockworkers fail to secure a new labor contract by an Oct. 1 deadline, an administration official said on Tuesday.
linkCopy linkshare_windowsShareFed Cut Serves as Starting Gun for Central Banks Across Asia
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Asia’s central banks are in for some relief after more than two years of currency pain, as the Federal Reserve is set to lower interest rates by at least a quarter-point. The path for the region’s own monetary policy, though, will be bumpy from here.
linkCopy linkshare_windowsShareIndia Considers Relaxing Export Curbs on Non-Basmati Rice
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India is mulling easing restrictions on overseas shipments of non-basmati rice, Food Secretary Sanjeev Chopra said in New Delhi on Wednesday.
linkCopy linkshare_windowsShareGasoline Exports From China Decline as Flows Seen Loss-Making
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Gasoline exports from China fell to the lowest since April due to a plunge in margins and quota that is fast running out.
linkCopy linkshare_windowsShareWork Underway to Launch Iraq's $17B 'Development Road'
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Work is underway to launch a $17B railway corridor linking Asia to Europe. Bloomberg News' Joumanna Bercetche reports on Horizons Middle East & Africa. (Source: Bloomberg)
linkCopy linkshare_windowsShareStocks Rise Before Fed, Intel to Make Custom AI ChIps for Amazon | The Opening Trade 09/17
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Retail and banking stocks rose as traders looked forward to a final set of economic data before the Federal Reserve decides on the size of Wednesday’s interest-rate cut. Intel and Amazon will coinvest in a custom semiconductor for artificial intelligence computing . With Ursula von der Leyen announces the portfolios for her next team of commissioners, as Macron ally Stephane Sejourne is pegged to be nominated as an executive vice president. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Lizzy Burden. (Source: Bloomberg)
linkCopy linkshare_windowsShareJPMorgan Hires in Nordics to Help Drive European Expansion
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JPMorgan Chase & Co. is adding bankers across its Nordic operations as the Wall Street behemoth increasingly takes on European lenders on their home turf.
linkCopy linkshare_windowsShareHorizons Middle East & Africa 09/18/2024
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Horizons Middle East & Africa is your daily spotlight on one of the world's fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg. (Source: Bloomberg)
linkCopy linkshare_windowsShareTaiwan’s $4 Billion Takeover Battle Hits Snag With Rejection of Financial Firm’s Bid
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Shares of Taiwan’s CTBC Financial Holding Co. gained and Shin Kong Financial Holding Co.’s fell after a bid to create the island’s biggest financial group was blocked.
linkCopy linkshare_windowsShareOil Edges Lower With US Stockpiles and Mideast Tensions in Focus
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Oil edged lower following a two-day gain as traders assessed indications of higher US crude stockpiles, sustained tensions in the Middle East, and the likely course of the Federal Reserve’s rate path.
linkCopy linkshare_windowsShareOil prices steady, with investors focusing on Fed decision
Oil prices steadied on Wednesday, after rising in the previous two sessions, as investors await the U.S. Federal Reserve's anticipated interest rate cut, with the potential for more violence in the Middle East supporting the market.
linkCopy linkshare_windowsShareMorning Bid: Fed's close call - the waiting is almost over
A look at the day ahead in Asian markets.
linkCopy linkshare_windowsShareFed to go big on first rate cut, traders bet
They expect two half-point rate cuts and one quarter-point cut over the rest of 2024.
linkCopy linkshare_windowsShareIndonesia Surprises With Quarter-Point Cut Before Fed Move
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Indonesia’s central bank unexpectedly cut its key interest rate for the first time in more than three years, easing ahead of its own guidance and just hours before the Federal Reserve’s expected dovish tilt.
linkCopy linkshare_windowsShareJapan’s Export Growth Slows as External Demand Moderates
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Japan’s export growth slowed, with shipments to the US slipping for the first time in almost three years in an outcome underscoring the mixed prospects for Japan’s economic recovery.
linkCopy linkshare_windowsShareFed Cuts Will Usher in Weaker Dollar, Point72’s Drossos Says
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The US dollar is entering a downward trend as the Federal Reserve starts lowering borrowing costs and signs of optimism emerge in other parts of the world, according to Sophia Drossos, a strategist and economist at Point72 Asset Management.
linkCopy linkshare_windowsShareIndonesia Central Bank Set for Dovish Hold, With Eyes on the Fed
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Indonesia’s central bank is approaching the point where it can start easing borrowing costs as the rupiah keeps strengthening and inflation stays modest. Most economists aren’t convinced that it will happen this week though, before the expected US rate cut.
linkCopy linkshare_windowsShareBrazil’s Tightening Cycle Set to Miss Market Forecast, JPM Says
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Brazil will raise interest rates less than traders expect as the Federal Reserve’s easing cycle provides a ‘Goldilocks’ scenario for risk assets, according to the head of Latin America economic research at JPMorgan & Chase Co.
linkCopy linkshare_windowsShare
Intel, Aiming to Reverse Slump, Unveils New Contracts and Cost Cuts
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The chipmaker, which has been struggling, said on Monday that it obtained a new government grant, signed a contract with Amazon and would pause some initiatives.
linkCopy linkshare_windowsShareHow SMIC, China’s Semiconductor Champion, Landed in the Heart of a Tech War
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Efforts by the Beijing-backed Semiconductor Manufacturing International Corporation, or SMIC, to break through innovation barriers have landed it in a geopolitical tech battle.
linkCopy linkshare_windowsShareTikTok Faces Tough Questions From Judges in Fight Over U.S. Ban
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TikTok on Monday pushed back against a law that would force the popular video app to sell to a non-Chinese owner or be banned, in what is shaping up to be a landmark case.
linkCopy linkshare_windowsShareA.I. Pioneers Call for Protections Against ‘Catastrophic Risks’
Scientists from the United States, China and other nations called for an international authority to oversee artificial intelligence.
linkCopy linkshare_windowsShareUS-Taiwan Military Shipment Scandal: Damaged Gear Raises Concerns Amid Rising Tensions
A report reveals that the US sent Taiwan damaged military equipment, including moldy body armor and machine guns, due to delays in shipment. This incident risks undermining US-Taiwan relations amid rising tensions with China.
linkCopy linkshare_windowsShareTwo Sinochem Oil Refineries Declared Bankrupt as Margins Plunge
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Two oil refiners in China run by chemical conglomerate Sinochem Group Co. were declared bankrupt, highlighting the headwinds older units face as margins plummet.
linkCopy linkshare_windowsShareHedge Funds Brevan Howard, Millennium Boost Japan Trading Ranks
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Hedge fund firms including Brevan Howard Asset Management LLP and Millennium Management LLC continue to boost their ranks of Japan-focused traders after economic and monetary policy swings roiled markets.
linkCopy linkshare_windowsShareIraq PM Says Oil Pipeline Is Beset by Cost Disagreements
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Iraqi Prime Minister Mohammed Shia Al-Sudani says there are cost disagreements over a key oil pipeline to Turkey that’s been shut for over a year. Baghdad won a long-standing arbitration case on oil exports from semi-autonomous Kurdistan, but hasn’t been able to strike an agreement over how much to pay international oil companies operating there for their production. “We have to look at how to balance those issues,” Al-Sudani said during an interview with Bloomberg’s Joumanna Bercetche. (Part-Ar
linkCopy linkshare_windowsShareIraq PM on US Troops Exit, ISIS, Election, Trump, Iran
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Iraqi Prime Minister Mohammed Shia Al-Sudani talks with Bloomberg’s Joumanna Bercetche in Baghdad about his plan to announce a timeline for the withdrawal of US troops since he says ISIS no longer poses a threat. He also discusses the outlook for the presidential race between Kamala Harris and Donald Trump and the possible impact of a Trump presidency and hawkish policy toward Iran on stability in the region. (Part-translated into English from Arabic)
linkCopy linkshare_windowsShareNorway’s Oil Capital Stavanger Feels the Squeeze as Krone Slides
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The Norwegian currency has lost about a fifth of its value against the euro since 2022. That’s causing upset in one of the world’s wealthiest — and priciest — countries.
linkCopy linkshare_windowsShareDBS Posts 300% Growth in Semi-Liquid Fund Sales in Greater China
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DBS Group Holdings Ltd. saw sales of its semi-liquid fund products to Greater China spike this year and expects demand to remain high as investors boost allocation for alternative assets.
linkCopy linkshare_windowsShareMorning Bid: Yen's big week begins
A look at the day ahead in European and global markets from Tom Westbrook
linkCopy linkshare_windowsShareIndonesia's trade surplus beat forecast in Aug
Indonesia booked a bigger-than-expected trade surplus in August as exports and imports beat forecasts, official data showed on Tuesday.
linkCopy linkshare_windowsShareUS and Japan near deal to curb chip technology exports to China, FT reports
The United States and Japan are close to a deal to curb tech exports to China's chip industry despite alarm in Tokyo about Beijing's threat to retaliate against Japanese companies, the Financial Times reported on Tuesday citing people familiar with the matter.
linkCopy linkshare_windowsShareCentral bank digital currency momentum growing, study shows
A total of 134 countries representing 98% of the global economy are now exploring digital versions of their currencies, with almost half at an advanced stage and pioneers like China, the Bahamas and Nigeria starting to see a pick up in usage.
linkCopy linkshare_windowsShareMidea Group shares rise 9.5% in Hong Kong after $4 bln listing
Chinese home appliances maker Midea Group rose by up to 9.5% on its trading debut in Hong Kong on Tuesday after raising nearly $4 billion in the city's largest share offering in almost four years, bolstering hopes for a revival in large Chinese issuances.
linkCopy linkshare_windowsShareOil climbs on US output concerns, expected crude inventory drop
Oil prices extended gains on Tuesday as the market eyed U.S. output concerns in the aftermath of Hurricane Francine and expectations of lower U.S. crude stockpiles.
linkCopy linkshare_windowsShareAsia shares rise; dollar, yields hurt by outsized Fed rate cut bets
Asian stocks gained on Tuesday while the dollar and U.S. Treasury yields came under pressure, with just a day to go before the expected start of the Federal Reserve's easing cycle that could see policymakers deliver an outsized rate cut.
linkCopy linkshare_windowsShareMorning Bid: Dovish Fed eyed, China's deflationary forces intensify
A look at the day ahead in Asian markets.
linkCopy linkshare_windowsShareIntel foundry business to make custom chip for Amazon, chipmaker's shares jump
Amazon's AWS cloud computing division already designs several chips for use in its data centers and has hired Intel to package at least one version.
linkCopy linkshare_windowsShareExclusive: Vista, Blackstone nearing $8-billion deal to buy Smartsheet, sources say
Buyout firms Vista Equity Partners and Blackstone are in advanced talks to acquire Smartsheet , in a deal that could value the collaboration-software maker at close to $8 billion, people familiar with the matter said on Monday.
linkCopy linkshare_windowsShareWhy Europe Is Embracing the New American Growth Model
Following the trail of the U.S. will require more government intervention in industrial and trade policy.
linkCopy linkshare_windowsShareChinese Appliance Giant Midea’s Shares Jump 9.5% on HK Debut After Raising $4 Billion
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Shares of Chinese appliance maker Midea Group Co. rose in their debut after Hong Kong’s biggest listing in three years, reviving hopes of a turnaround for the city’s struggling market.
linkCopy linkshare_windowsShareHong Kong’s Biggest Listing in Years Lures Back Global Investors
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Chinese appliance maker Midea Group Co.’s $4 billion listing in Hong Kong is fueling cautious optimism that the worst of the city’s capital markets drought may be coming to an end.
linkCopy linkshare_windowsShareEuropean Stocks Rise With Data in Focus Before Fed: Markets Wrap
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European stocks rose as traders looked forward to a final set of US economic data that could determine the size of Wednesday’s Federal Reserve interest-rate cut.
linkCopy linkshare_windowsShareHedge Funds Start to Split on Long-Yen Trades Before Fed and BOJ
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A divergence is emerging among leveraged funds on their positions in the yen ahead of the Federal Reserve and Bank of Japan meetings that will dictate the currency’s near-term trajectory.
linkCopy linkshare_windowsShareKorea Hopeful of Bond Index Entry Even as Banks Skeptical
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South Korea is “positively expecting” the country’s bonds to be included in a key global debt index next month, a senior government official says, even as some major banks say it’s unlikely to happen this time around.
linkCopy linkshare_windowsShareZimbabwe Creditors Mull Debt-for-Climate Swap to Fix Arrears
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Zimbabwe’s creditors may be willing to consider a debt-for-climate swap with the nation as part of a restructure of its $21 billion in arrears.
linkCopy linkshare_windowsShareWhat the Volkswagen Jobs Crisis Means for Europe’s Economy
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Volkswagen AG is set to shutter factories in its German homeland for the first time in its history, a move that pulls at a thread that could see a decades-long deal between workers and their employers unravel. If it does, inflation could move structurally higher, current account surpluses could shrink and investment flows could shift, according to Bloomberg Economics research.
linkCopy linkshare_windowsShareHorizons Middle East & Africa 09/17/2024
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Horizons Middle East & Africa is your daily spotlight on one of the world's fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg. (Source: Bloomberg)
linkCopy linkshare_windowsShareMaaden and Alba in Talks for Strategic Aluminum Subsidiary Swap
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Saudi Arabian Mining Co. is negotiating to exchange two aluminum subsidiaries for shares in Bahrain's Alba, pending regulatory approval.
linkCopy linkshare_windowsShareWindfall Awaits Emerging-Market Debt as Fed Gears Up for Cuts
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JPMorgan Asset Management, Van Eck Associates Corp. and Vontobel Asset Management are betting that the billions of dollars pulled from emerging markets will start coming back as US borrowing costs drop.
linkCopy linkshare_windowsShareMagellan's Lam on Market Anticipation of Fed Cut
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Britney Lam, Magellan Capital head of equities, long/short, discusses how the market is pricing in an anticipated cut by the Fed. She speaks with Joumanna Bercetche on Horizons Middle East & Africa. (Source: Bloomberg)
linkCopy linkshare_windowsShareOil Climbs Ahead of Fed Decision But Demand Concerns Persist
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Oil edged higher as a widely expected interest-rate cut by the Federal Reserve this week offset concerns about the demand outlook.
linkCopy linkshare_windowsShareGoldman Says Gold May Dip If Fed Opts for Quarter-Point Cut
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Gold may face a minor, near-term setback if the Federal Reserve opts for just a 25-basis-point cut this week, but the metal will subsequently rally to a record aided by rising flows into bullion-backed exchange-traded funds, according to Goldman Sachs Group Inc.
linkCopy linkshare_windowsShareUS Allies Struggle to Break China’s Dominance of Rare Earths
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A couple hours outside Houston, in a remote field near a Dow Chemical Co. plant, America’s bid to undercut China’s grip on the global supply of rare earth minerals critical to high technology has yet to break ground.
linkCopy linkshare_windowsShareBloomberg: The Asia Trade 09/17/2024
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"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Tokyo and Sydney with Shery Ahn and Haidi Stroud-Watts, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)
linkCopy linkshare_windowsShareCurrency Contrarians Cut Yen-Buying Positions as Yen Passed 140
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Foreign-exchange margin traders in Japan unwound long yen positions as the currency strengthened past the key psychological level of 140 yen per dollar on Monday for the first time in a year.
linkCopy linkshare_windowsShareFTSE 100 Live: UK is Europe's Most-Preferred Stock Market for Fund Managers, Survey Finds
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linkCopy linkshare_windowsShareSouth Sudan says it is ready to restart pumping oil through Sudan
South Sudan and Sudan have made progress towards restarting the pumping of South Sudan's crude oil through a pipeline running to a port in its neighbour, South Sudan's finance minister and the president's office said.
linkCopy linkshare_windowsShareRupee faces resistance on dollar buying by state-run banks
The Indian rupee faced resistance on Tuesday following a rise driven by the U.S. dollar's struggles a day ahead of the Federal Reserve's highly anticipated interest rate decision.
linkCopy linkshare_windowsShareBritain's Revolut prepares for 2025 India launch, FT reports
Britain's Revolut is preparing to launch its services in India next year, the Financial Times reported on Tuesday.
linkCopy linkshare_windowsShareRupee expected to remain steady ahead of Fed decision
The Indian rupee is expected to open nearly flat on Tuesday, with traders expecting the currency to see largely rangebound price action ahead of U.S. Federal Reserve's policy decision this week.
linkCopy linkshare_windowsShareIndian shares hold near record highs ahead of Fed policy decision
Indian shares held ground near all-time highs on Tuesday, with traders expecting marginal moves ahead of the U.S. Federal Reserve's widely expected interest rate cut a day later.
linkCopy linkshare_windowsShareSwiss Watchmakers Call on SNB to Act on Franc as Exports Slump
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Swiss watchmakers urged the central bank and the government to support exporters by curbing the strength of the country’s currency as overseas sales slump.
linkCopy linkshare_windowsShareStarmer’s Plan to Court Investors Depends on Fixing Thames Water
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The government is pinning its hopes for growth on private investment in everything from green energy to housing. But investors have been burned by the Thames debacle.
linkCopy linkshare_windowsShareAustralia, UAE Reach Trade Deal to Boost Exports, Investment
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Australia has reached a trade agreement with the United Arab Emirates that is expected to boost shipments of agricultural products and resources, as well as provide Abu Dhabi with greater access to investment in green energy and critical minerals.
linkCopy linkshare_windowsShareThailand to Boost Borrowing by 8% to $78 Billion to Spur Growth
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Thailand plans to raise government borrowing by about 8% in the fiscal year starting October to aid economic growth, according to people familiar with the matter.
linkCopy linkshare_windowsShareSingapore’s Electronics Exports Rise at Fastest Pace in 14 Years
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Singapore’s electronics shipments gained the most since 2010, fueled by overseas sales of integrated circuits and disk media products, as the global tech boom is proving a boon to the city-state.
linkCopy linkshare_windowsShareGLOBAL INSIGHT: Three Takeaways on the Emerging Market Outlook
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(Bloomberg Economics) -- A prolonged war, rattled markets and fading commodity rents are putting pressure on key emerging markets. In Europe, Ukraine’s incursion in Russian territory is a risky gamble that might give the country more leverage for negotiations to end the war. For Brazil, it could mean tightening monetary policy further to appease markets amid fiscal and credibility concerns. For many rentier Middle Eastern countries, the challenge is finding political, not just economic, solution
linkCopy linkshare_windowsShareECB’s Kazaks Says Rates to Be Cut Further But Not Too Quickly
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The European Central Bank will ease monetary policy further, though it shouldn’t do so too hastily due to lingering inflation risks, according to Governing Council member Martins Kazaks.
linkCopy linkshare_windowsShareEl Salvador Bonds Soar After Bukele Signals Zero Deficit
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El Salvador’s sovereign debt jumped Monday after President Nayib Bukele said the 2025 budget wouldn’t involve issuing new debt, signaling his plans for fiscal austerity, a key step in unlocking a long-awaited program with the International Monetary Fund.
linkCopy linkshare_windowsShareWorld Bank Says Zimbabwe Needs Economic Stability to Advance Debt Talks
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Zimbabwe needs an uninterrupted period of macroeconomic stability of at least 12 months to help advance debt talks with international creditors over $21 billion it owes, the World Bank said.
linkCopy linkshare_windowsShareIMF Considers Easing Punitive Loan Fees Ahead of October Meetings
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The IMF is considering easing loan fees criticized as punitive on borrower countries, with a decision expected before its October meetings.
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