China and the United States have agreed terms of a “phase one” trade deal under which Washington reduced some tariffs and Beijing canceled retaliatory duties that were previously scheduled to take effect on Dec. 15.
Budget airline Jetstar is cutting domestic capacity by around 10% in January and weighing the sale of three Boeing 787-8 jets to counter industrial action by its pilots that the Australian carrier expects will cost it up to A$25 million ($17 million).
(Bloomberg) — The U.S. and China agreed to the first phase of a broader trade agreement that will see the U.S. reduce tariffs, and at least temporarily calm fears of an escalating trade war between the world’s two largest economies.The deal announced hinges on China increasing purchases of American farm goods such as soybeans and pork, and making new commitments on intellectual property, forced technology transfer and currency. Speaking to reporters in Washington, President Donald Trump said he expects China’s agriculture buying to hit $50 billion annually “pretty soon.”The U.S. will also suspend new import taxes that were set to …read more […]
Asian shares hit their highest in nearly eight months on Monday after the United States and China agreed on a preliminary trade deal, with Australian shares leading the way on expectations of more easing of monetary policy there.
(Bloomberg) — A Chinese chip designer who helped Bitmain Technologies Ltd. become the world’s largest maker of Bitcoin mining rigs before starting his own company has been arrested, according to three people familiar with the matter.Yang Zuoxing, a tech mastermind with Bitmain until June 2016, was detained by police in Shenzhen at the end of October in relation to a legal dispute with his former employer, said the people, who asked not to be identified discussing legal matters.Prosecutors in the city’s Nanshan district said in a Dec. 12 statement that Yang was arrested recently on suspicion of embezzlement, and that …read more […]
(Bloomberg) — A YouTuber in Taiwan said his Chinese talent agency is demanding he remove a video in which he addressed Taiwan leader Tsai Ing-wen as president, the latest clash over China’s assertions of territorial control in Asia.Chen Chia-chin, better known as Potter King, published a video on Facebook and YouTube Saturday, showing Tsai visiting his media startup. He used his signature humorous pickup lines and repeatedly addressed Tsai as “president,” which is in fact her title.His Chinese agency, Papitube, demanded he not use the word in his videos, nullified his contract and took over his Weibo account without his …read more […]
Qantas Airways Ltd plans to have more experienced pilots on board the world’s longest non-stop flights than on its current long-haul flights for the first 18 months as it evaluates fatigue, said sources with knowledge of the matter.
Growth in China’s industrial and retail sectors beat expectations in November, as government support propped up demand in the world’s second-largest economy and amid easing trade hostilities with Washington.
(Bloomberg) — Financial markets are set for a “risk asset melt-up” in the first quarter of the new decade, according to Bank of America Corp.As Brexit and trade war risks recede, and with the Federal Reserve and European Central Bank still adding liquidity, the outlook for the beginning of 2020 is bullish, strategists including Michael Hartnett wrote in a Dec. 12 note to clients.“We continue to expect returns to be front-loaded in 2020,” the strategists said. Positioning is turning bullish and December’s global fund manager survey on Tuesday should confirm the positive sentiment, they added.The strategists expect the S&P 500 …read more […]
A broad gauge of Asian share markets hit nearly eight-month highs on Monday after the United States and China agreed a preliminary trade deal, and amid policy-easing hopes in Australia, but profit-taking and caution over the deal’s details capped gains.
(Bloomberg Opinion) — Imagine if Toyota Motor Corp. stopped making Corollas, or Coca-Cola Co. stopped making Diet Coke, or McDonald’s Corp. stopped serving Big Macs.That’s the best way of looking at reports that Boeing Co. is considering halting production of its troubled 737 Max single-aisle jet. Making and servicing commercial airplanes accounts for about 80% of Boeing’s operating income, and the 737 series in turn accounts for about 70% of commercial deliveries. A Boeing that’s not making 737s is shutting down close to half its business.The company could disclose a decision as early as Monday on whether to further cut …read more […]
Asian stock markets were mixed Monday following a U.S.-Chinese trade deal that disappointed some investors. The two sides agreed to reduce some punitive tariffs imposed in their fight over China’s technology ambitions and trade surplus. Market choppiness reflects concern “the details were disappointing,” said Mizuho Bank in a report. …read more […]
Oil prices on Monday slid off near three-month highs hit last week as investors searched for clarity beyond the initial impact of a trade deal between the United States and China that’s expected to boost flows between the top two global economies.
Dec.15 — Daniel Morris, senior investment strategist at BNP Paribas Asset Management, discusses his asset allocation and where he’s finding opportunity. He speaks with David Ingles, Rishaad Salamat, and Yvonne Man on “Bloomberg Markets: Asia.” …read more […]
Dec.15 — Jim McCafferty, joint-head of APAC equity research at Nomura, discusses the U.S.-China trade deal and its impact on markets. He speaks on “Bloomberg Markets: China Open.” …read more […]
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