Month: January 2020

(Bloomberg Opinion) — Shots have been fired in the Middle East. Whether the feud escalates or not, Japan’s defense companies may have found the catalyst they needed.Stock prices of Japanese machinery makers that also produce assault rifles, flare bombs and other military equipment surged as much as 25% Wednesday, after Iran fired rockets at two U.S. bases in Iraq in response to the American attack that killed General Qassem Soleimani. Iran’s foreign minister said his country wasn’t seeking escalation, and President Donald Trump refrained from immediately threatening retaliation. Such price movements in defense-related stocks have happened before, when tensions worsen …read more […]

BEIJING/SHANGHAI (Reuters) – Luckin Coffee Inc said it is expanding into vending machines that sell freshly brewed hot beverages and snacks, seeking even more of the China market after overtaking Starbucks Corp as the country’s biggest coffee chain by number of stores. Luckin founder and CEO Qian Zhiya said the new strategy allowed it to be asset-light and nimble. Growing at breakneck speed by offering cheap delivery, online ordering and big discounts, Luckin also said it now has just over 4,500 stores across China – achieving a goal it set one year ago and topping Starbucks …read more […]

SAN FRANCISCO/NEW YORK (Reuters) – Impossible Foods is no longer trying to win a coveted deal to supply McDonald’s Corp with plant-based burgers, telling Reuters it cannot produce enough of its imitation meat to partner with the world’s No. 1 fast-food chain. Shares of Impossible rival Beyond Meat surged on Tuesday, closing 12.5% higher, after Reuters reported that Impossible was no longer in talks with McDonald’s. The stock had risen earlier in the day on Impossible’s unveiling of its plant-based pork products at the International Consumer Electronics Show in Las Vegas on Monday, spurring further optimism about …read more […]

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(Bloomberg) — Follow Bloomberg on Telegram for all the news and analysis you need.Safe-haven assets, U.S. equity futures and Asian stocks swung wildly Wednesday as tensions in the Middle East escalated, rattling global financial markets.Iran’s attack on American military bases in Iraq, a response to the killing of General Qassem Soleimani by American forces last week, injected new volatility into global assets that enjoyed a blockbuster 2019. S&P 500 futures dropped as much as 1.7% as fears of a protracted conflict increased, before paring the decline as Tehran said it wasn’t seeking a war, and President Donald Trump declared “all …read more […]

Recent bills that aim to stop the exploitation of freelance workers are drawing backlash from some of the contractors they’re designed to protect. …read more […]

Oil prices briefly surged Tuesday night after the Iranian military attacked two Iraqi bases – but don’t expect a big spike in gas prices. …read more […]

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Oil prices jumped to their highest in months on Wednesday after Iran attacked American forces in Iraq in response to a U.S. strike that killed an Iranian general last week, raising the spectre of a spiralling conflict and disrupted oil supplies. Iran’s missile attack on U.S.-led forces in Iraq came early on Wednesday, hours after the funeral of Qassem Soleimani, the commander of the country’s elite Quds Force killed in a U.S. drone stroke on Jan. 3. Tehran fired more than a dozen ballistic missiles from Iranian territory against at least two Iraqi military bases hosting U.S.-led coalition …read more […]