Month: December 2019

(Bloomberg) — Two Goldman Sachs Group Inc. units facing criminal charges for their alleged role in the 1MDB scandal had their cases moved to a higher court in Malaysia.The High Court on Monday approved the transfer from the Magistrate’s Court for the charges against Goldman Sachs (Asia) LLC and Goldman Sachs International (UK). The petition to transfer the case against a third unit, Goldman Sachs (Singapore), is still pending and will be reviewed at another hearing on Dec. 26.Malaysia’s Attorney-General’s Chambers told prosecutors to transfer the case to a higher court in September without specifying the reasons, though normally such …read more […]

Dec.15 — Iris Pang, Greater China economist at ING, discusses China’s industrial production and retail data and what they mean for the economy. She speaks on “Bloomberg Markets: Asia.” …read more […]

Under terms of the agreement, DuPont shareholders will own 55.4% of the shares of the new company and existing IFF shareholders will own 44.6%, IFF said in a statement. Industrial materials maker DuPont will also receive a one-time cash payment of $7.3 billion upon closing of the deal, IFF added. IFF Chief Executive Officer Andreas Fibig will run the combined company and will also continue to be chairman of the board. …read more […]

U.S. gold futures were down 0.2% at $1,478.60. * The “phase one” trade agreement was announced on Friday and on Sunday U.S. Trade Representative Robert Lighthizer said U.S. exports to China will nearly double over the next two years although officials are yet to decide a date to sign the agreement. * The United States suspended some tariffs on Chinese goods that was due to go into effect on Sunday, while China State Council’s customs tariff commission said it had dropped its plan for additional tariffs on some U.S. goods. …read more […]

Oil prices fell but remained near three-month highs on Monday after the United States and China agreed to an initial trade deal, a move market participants said could stoke oil demand and boost trade flows. The United States and China cooled their trade war on Friday, announcing a “phase one” agreement that reduces some U.S. tariffs in exchange for what U.S. officials said would be a big jump in Chinese purchases of American farm products and other goods. “It seems the market has now fully priced the phase 1 trade agreement so we are going to need further …read more […]

China’s industrial output and retail sales growth accelerated more than expected in November, suggesting resilience in the economy as Beijing seeks to prop up domestic demand amid the trade war with the United States. Industrial production rose 6.2% year-on-year in November, data from the National Bureau of Statistics showed on Monday, beating the median forecast of 5.0% growth in a Reuters poll and quickening from 4.7% in October. Factory indicators for November have shown surprising improvement in manufacturing, suggesting government support measures are helping domestic demand, even as exports and producer prices shrank. …read more […]

Dec.15 — The U.S. and China have agreed to the first phase of a broader trade deal, bringing a temporary calm to their escalating trade war. The 86-page agreement includes chapters on intellectual property, technology transfers and expanding China’s import of U.S. agricultural goods. Bloomberg’s Sharon Chen reports on “Bloomberg Markets: China Open.” …read more […]

Dec.15 — The U.S. and China have agreed to the first phase of a broader trade deal, bringing a temporary calm to their escalating trade war. The 86-page agreement includes chapters on intellectual property, technology transfers and expanding China’s import of U.S. agricultural goods. Bloomberg’s Sharon Chen reports on “Bloomberg Markets: China Open.” …read more […]

Dec.15 — Amit Midha, president of APJ & global digital cities at Dell Technologies, discusses the U.S.-China trade deal, the firm’s business strategy in Asia and competition. He speaks exclusively on “Bloomberg Daybreak: Asia.” …read more […]

Oil prices fell but remained near three-month highs on Monday after the United States and China agreed to an initial trade deal, a move market participants said could stoke oil demand and boost trade flows. The United States and China cooled their trade war on Friday, announcing a “phase one” agreement that reduces some U.S. tariffs in exchange for what U.S. officials said would be a big jump in Chinese purchases of American farm products and other goods. “It seems the market has now fully priced the phase 1 trade agreement so we are going to need further …read more […]