Year: 2020

The IBM-designed Power10 chip will be manufactured by Samsung Electronics Co Ltd and is meant for use by businesses inside data centers, IBM said. The chip will use Samsung’s 7-nanometer chip manufacturing process, which is similar to the 7-nanometer technology that Advanced Micro Devices Inc uses to have its chips made by Taiwan Semiconductor Manufacturing Co Ltd . …read more […]

Spot gold was down 0.2% to $1,940.73 per ounce by 0258 GMT. Gold fell 4.5% last week in its biggest decline since March as investors reassessed their positions after bullion retreated from a record peak of $2,072.50 scaled on Aug. 7. U.S. gold futures were flat at $1,950.50. …read more […]

Aug.16 — New Zealand is battling its first coronavirus outbreak in more than three months and that’s forced Prime Minister Jacinda Ardern to postpone the general election by 4 weeks. Bloomberg’s Tracy Withers reports on “Bloomberg Daybreak: Asia.” …read more […]

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Aug.16 — The U.S. House of Representatives will return from recess early for hearings on the crisis at the U.S. Postal Service for funding cuts and threatened voting in November’s election. Bloomberg’s Ros Krasny reports on “Bloomberg Daybreak: Asia.” …read more […]

Aug.16 — China and the U.S. have postponed indefinitely trade talks that were due to happen over the weekend. No official reason has been given. Bloomberg’s Stephen Engle reports on “Bloomberg Daybreak: Asia.” …read more […]

(Bloomberg) — Stocks in Asia began the week mixed as investors assessed soured U.S.-China ties, with Chinese stocks outperforming after the central bank injected cash. The dollar slipped.China’s central bank injected liquidity into the financial system to support banks. Hong Kong also rose. Equities in Japan and Australia were lower. South Korea is closed for a holiday. S&P 500 futures rose and crude oil climbed. Gold declined, building on last week’s slide. Treasuries were steady, with the 10-year yield at 0.70%.The U.S. and China postponed talks planned for over the weekend that had been aimed at reviewing progress at the …read more […]

(Bloomberg) — A flotilla of tankers plying the waters between China and South Korea has been hauling unusually large volumes of a lesser-known fuel called light-cycle oil — or LCO — to Asia’s biggest crude consumer.Almost 800,000 tons of LCO arrived in China from its neighbor in July, the most in at least three years and more than twice the monthly average in the first half, data intelligence firm Kpler said. The flurry of activity, which looks to be accelerating this month, is being driven by both pull and push factors for LCO, a low-quality petroleum product that’s blended into …read more […]

Oil prices climbed higher on Monday, lifted by China’s plans to ship in large volumes of U.S. crude in August and September, outweighing concerns over a slowdown in demand recovery after the coronavirus pandemic and an uptick in supplies. Brent crude rose 21 cents, or 0.5%, to $45.01 a barrel by 0023 GMT while U.S. West Texas Intermediate crude was up 27 cents, or 0.6%, to $42.28 a barrel. Chinese state-owned oil firms have tentatively booked tankers to transport at least 20 million barrels of U.S. crude for August and September, Reuters reported on Friday, as China ramped …read more […]

(Bloomberg) — China’s top banking watchdog cautioned that U.S. dollar dominance combined with the massive stimulus unleashed by the Federal Reserve could push the world to the edge of another financial crisis.In a rare act of public criticism, China Banking Regulatory Commission Chairman Guo Shuqing also lashed out at developed nations seeking to divert blame from their own failures to contain the virus outbreak and moves by the U.S. to blacklist Chinese companies and entities.“In an international monetary system dominated by the U.S. dollar, the unprecedented, unlimited quantitative easing policy of the U.S. actually consumes the creditworthiness of the dollar …read more […]

(Bloomberg) — Chaparral Energy Inc. filed for bankruptcy protection for the second time in four years, another financial reckoning for one of the many cash-starved shale drillers punished by sluggish oil prices.The company filed for Chapter 11 in U.S. Bankruptcy Court in Delaware. It listed estimated liabilities and assets both in the $500 million to $1 billion range.The Covid-19 pandemic has led to a surge in energy industry bankruptcies, as lockdowns strangle demand and prompt lenders to cut credit lines. So far in 2020, the tally has included California Resources Corp., the state’s largest crude producer, and shale gas driller …read more […]

Prep work goes a long way toward getting the job done right and avoiding rework. But proper masking takes time, and in this business, time means money.

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