Oct.12 — Mary Nicola, senior vice president and portfolio manager at PineBridge Investments, discusses her outlook for U.S. markets, the Chinese yuan and where she’s finding opportunity. She speaks on “Bloomberg Markets: Asia.” …read more […]
The company listed both assets and liabilities in the range of $1 billion to $10 billion in a filing with the U.S. Bankruptcy Court for the District Of Delaware. The company had in February said it planned to have its generic drug business file for bankruptcy as part of a tentative $1.6 billion opioid settlement to resolve claims by state attorneys general and U.S. cities and counties. It further warned on Aug. 4 the parent company and other units may also seek bankruptcy protection after a judge allowed the federal government to force it to pay higher rebates …read more […]
Oct.11 — Lecturer of International and Public Affairs at Columbia University and former New York State Democratic Party Executive Director Dr. Basil Smikle, discusses President Trump’s virus recovery, the canceling of the second presidential debate, Biden’s policies for China, and the Supreme Court hearings for Amy Barrett. He speaks with Shery Ahn and Haidi Stroud-Watts on “Bloomberg Daybreak: Australia.” …read more […]
Oct.11 — Hong Kong bankers are being overtaken by their mainland Chinese counterparts as the city’s go-to dealmakers with new figures showing that the local share of investment banking jobs has fallen to 30%. Bloomberg’s Jonas Bergman reports on “Bloomberg Markets: Asia.” …read more […]
Oct.11 — Harsh Modi, co-head of financials research at JPMorgan Chase & Co., discusses how Asean banks are positioning for the next six months. He speaks on “Bloomberg Markets: Asia.” …read more […]
Oct.11 — Wendy Liu, head of China strategy at UBS, discusses her outlook for the yuan and Chinese equities. She speaks on “Bloomberg Markets: China Open.” …read more […]
(Bloomberg) — The dollar may tumble to its lows of 2018 on the rising likelihood of Joe Biden winning the U.S. election and progress on a coronavirus vaccine, according to Goldman Sachs Group Inc.“The risks are skewed toward dollar weakness, and we see relatively low odds of the most dollar-positive outcome — a win by Mr. Trump combined with a meaningful vaccine delay,” strategists including Zach Pandl wrote in a note Friday. “A ‘blue wave’ U.S. election and favorable news on the vaccine timeline could return the trade-weighted dollar and DXY index to their 2018 lows.”The ICE U.S. Dollar Index …read more […]
Oct.11 — President Donald Trump on Sunday pitched what he called his post-infection immunity to Covid-19 as an advantage over Democratic presidential nominee Joe Biden. Bloomberg’s Ros Krasny reports on “Bloomberg Daybreak: Australia.” …read more […]
(Bloomberg) — An expected surge in election-related volatility in the U.S. stock market is paving the way for Asian shares to make a run at besting their American peers.Since hitting an all-time low relative to the S&P 500 on Sept. 2, the MSCI Asia Pacific Index has outperformed the U.S. benchmark by almost five percentage points. That nascent trend is expected to persist at least through the November poll and potentially beyond, according to strategists.“There is a better than average chance that Asian stocks will outperform U.S. stocks over the course of the next month,” said Eoin Murray, head of …read more […]
(Bloomberg) — Libya took a major step toward reviving its battered oil industry by reopening its biggest field, presenting a new headache for OPEC+ as the alliance of major producers tries to curb global supplies.The National Oil Corp., Libya’s state energy company, lifted force majeure on the western deposit of Sharara and instructed its operator to resume production, according to a statement on Sunday. The field will initially pump 40,000 barrels of crude a day, before reaching its capacity of almost 300,000 barrels in 10 days, a person with knowledge of the situation said.That would roughly double Libya’s overall output …read more […]
(Bloomberg) — One Chinese app briefly gave the country’s internet users access to long-banned websites like Facebook Inc. and Google, setting off speculation about the future of Beijing’s censorship practices.The Tuber browser, backed by Chinese cybersecurity giant 360 Security Technology Inc., appeared to provide the nation’s 904 million online users the ability to legally visit overseas websites and browse foreign social media. Chinese users hailed their newfound ability to peruse content from Youtube videos to Instagram photos without an illegal virtual private network, or VPN.But the browser stopped functioning Saturday and disappeared from the mobile app store run by Huawei …read more […]
(Bloomberg) — Vanguard Group Inc. returned about $21 billion in managed assets to government clients in China as part of a global shift to focus on low-cost funds for individual investors, according to people familiar with the matter. BlackRock Inc. and Amundi SA are being considered to manage a portion of the funds returned by Vanguard.The assets include about $10 billion that Vanguard had managed for each of China’s State Administration of Foreign Exchange and the China Investment Corp. sovereign wealth fund, the people said, declining to be identified as the matter is private. More than $1 billion was returned …read more […]
Oct.11 — President Donald Trump and House Speaker Nancy Pelosi continue their war of words over a new stimulus package. Republicans and Democrats are blaming each other for the lack of progress. Bloomberg’s Kathleen Hays reports on “Bloomberg Daybreak: Asia.” …read more […]
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