Jul.13 — The Polish election is a hard one to call. It’s highly charged and looks very close with both candidates declaring victory. Bloomberg’s Rosalind Mathieson reports on “Bloomberg Daybreak: Europe.” …read more […]
(Bloomberg) — Faced with the prospect of restricted access to U.S. dollars, China’s answer is to get more people to use its own currency instead.The increasing spillover of Sino-American tensions into the financial sphere has ignited a fresh push by China to promote the global use of the yuan. A growing number of government officials and influential market watchers have in recent weeks urged greater efforts on the endeavor, which gained renewed significance after China’s new Hong Kong security law triggered the threat of retaliation from Washington.While such drastic action is far from being implemented by the U.S. — and …read more […]
Amazon.com Inc. (AMZN) has acquired 2,300 trucks to launch a new fleet of larger carriers to service its delivery operations. According to a Reuters report on July 10, the trucks will be much larger and to a scale commonly used by Amazon’s competitors such as FedEx (FDX) and UPS (UPS). The vehicle acquisition was made from Shyft Group, Inc. (SHYF) last year. Both companies have not disclosed the amount of the purchase.Amazon’s stock was up 1% at $3,200 as of market close on July 10, while Shyft rose 14% at $16.88.In light of the pandemic, the online retail giant was …read more […]
Opec ministers are meeting this week amid signs of growing energy demand as coronavirus lockdowns ease. …read more […]
(Bloomberg) — The Hong Kong dollar is suddenly looking vulnerable, after weeks of trading at the strong end of its band against the greenback.Late on Friday, the currency weakened rapidly in its biggest drop since mid-June, when the exchange rate was buffeted by Beijing’s decision to impose laws curbing dissent in the city. The decline was unexpected, given persistent inflows into the former British colony, but may have been triggered by concern about possible financial sanctions and a narrowing of the yield gap between the Hong Kong and U.S. dollars.Traders are watching the Hong Kong dollar closely for any signs …read more […]
Jul.12 — Doreen Weisenhaus, senior lecturer and director of the Media Law and Policy Initiative at the School of Journalism, Media, Integrated Marketing Communications at Northwestern University, talks about the new security law China imposed on Hong Kong. Weisenhaus, who taught at the University of Hong Kong prior to joining Northwestern, speaks on “Bloomberg Markets: Asia” with Yvonne Man and Haslinda Amin. …read more […]
Jul.12 — Sylvia Lim, chair of Singapore’s opposition Workers Party, discusses the results of Singapore’s election, the gain of 10 seats by her party and the priorities for her party. She speaks exclusively on “Bloomberg Daybreak: Asia.” …read more […]
Stocks rose Friday as news about a potential coronavirus treatment increased hope for an economic recovery following the outbreak. …read more […]
Stocks rose Friday as news about a potential coronavirus treatment increased hope for an economic recovery following the outbreak. …read more […]
As the final trading session of the week kicks off, stocks are turning to tech reports for direction this Friday morning. Also, the SP500 is in focus. …read more […]
Jul.12 — Tensions between China and the U.S. are escalating with the Trump administration saying it’s “just getting started” on taking strong action against Chinese-owned social media apps. Bloomberg’s Jodi Schneider reports on “Bloomberg Daybreak: Asia.” …read more […]
Jul.12 — Hong Kong Legislative Council Member and Civic Party Leader Alvin Yeung discusses the voter turnout for the opposition party primaries in Hong Kong amid the coronavirus pandemic and why the democratic candidates are concerned over the upcoming election in September. He speaks on “Bloomberg Daybreak: Asia.” …read more […]
(Bloomberg) — Chinese biotech company Beigene Ltd. plans to raise $2.1 billion in a direct offering of 145.8 million shares to fund drug research and market its treatments in the U.S. and China, said the Nasdaq-listed company on Monday.The shares will be priced at $14.23 each, equivalent to a price of $185 per American Depository Share — 5.6% lower than its closing price on Friday. The offering is expected to close on or around July 15, said the company, whose shares are also traded in Hong Kong.Buyers in the share sale include investment firm Baker Bros. Advisors LP and American …read more […]
(Bloomberg) — Analog Devices Inc. is close to an all-stock agreement to acquire Maxim Integrated Products Inc., according to people familiar with the matter.The semiconductor companies are talking about a deal that values San Jose, California-based Maxim at more than its current market capitalization of roughly $17 billion. Norwood, Mass.-based Analog has a market value of $46 billion and also has a large office in the San Jose area. The deal could be announced as early as Monday, though discussions could still fall apart, said the people, asking not to be named discussing private negotiations.Representatives for Analog Devices and Maxim …read more […]
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