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(Bloomberg) — Daisuke Sasaki has seen his cloud-based accounting company’s valuation swell to $3.7 billion despite having yet to show a profit, but he’s not letting that pressure him.Shares of Freee K.K. have quadrupled since going public on the Tokyo Stock Exchange in December, along with rising demand for cloud services amid the remote-working trend. The stock rose as much as 1.6% Monday to a new high.“We don’t have a set timeframe for when the company will swing to profits,” Sasaki, founder and chief executive of Freee, said in an interview on Aug. 17. “Our business is about subscription.”The Tokyo-based …read more […]

Oil prices rose about 2% on Monday, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive test for COVID-19 sparked widespread alarm. Trump’s health update eased political uncertainty in global markets, pushing Brent up to $39.96 a barrel by 0232 GMT, gaining 69 cents or 1.8%. U.S. West Texas Intermediate (WTI) crude was at $37.81 a barrel, up 76 cents, or 2.1%. …read more […]

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Oct.04 — The coronavirus outbreak within the White House is cutting short Secretary of State Mike Pompeo’s current visit to Asia. Bloomberg’s Stephen Engle reports on “Bloomberg Daybreak: Asia.” …read more […]

Oct.04 — Avonhurst partner and head of global political strategy Tina Fordham, discusses Trump’s health after contracting COVID-19, and its impact on the markets and poles. She speaks with Shery Ahn and Haidii Stroud-Watts on “Bloomberg Daybreak: Asia.” …read more […]

(Bloomberg) — Saudi Arabia’s Finance Ministry is budgeting for oil prices to be around $50 a barrel for the next three years, according to a Goldman Sachs Group Inc. analysis of the kingdom’s fiscal plans.“Using our own estimates for the breakdown of government revenues, we calculate that the numbers presented in the budget statement are based on an average oil price of around $50 a barrel between 2020 and 2023,” said Farouk Soussa, a London-based analyst at Goldman, referring to a pre-budget statement from Sept. 30.Brent crude fell 6.3% to $39.27 a barrel last week as more countries tightened restrictions …read more […]

U.S. stock futures rose on Monday on hopes that President Donald Trump could be discharged from hospital later in the day, easing some of the political uncertainty that shook Wall Street in the previous session. Trump, 74, was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday. S&P 500 e-mini futures rose 0.45% in early Asian trading, while Nasdaq futures gained 0.58%. …read more […]

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President Trump waved to supporters outside Walter Reed National Military Medical Center during an unscheduled drive-by in his motorcade on Sunday afternoon. Trump appeared briefly after posting a video on Twitter and later returned to the hospital. Photo: Alex Edelman/AFP via Getty Images …read more […]

Stock futures rise on optimistic reports about Trump’s COVID-19 battle. …read more […]

U.S. stock futures rose on Monday on hopes that President Donald Trump could be discharged from hospital later in the day, easing some of the political uncertainty that shook Wall Street in the previous session. Trump, 74, was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday. S&P 500 e-mini futures rose 0.45% in early Asian trading, while Nasdaq futures gained 0.58%. …read more […]

Romi Savova is the founder and chief executive of pension firm PensionBee. …read more […]

The revelation late last week that President Donald Trump had tested positive for Covid-19 amplified the already heightened uncertainty around the election, prospects for further fiscal stimulus and progress of the pandemic situation in the US. Markets on Friday reeled in response, with the three major indices tumbling at the end of last week before paring losses to close off of their session lows. …read more […]

(Bloomberg) — The U.S. government has taken an equity stake in a battery-metals company in a move that undercuts dependence on China for a key material used in electric vehicles.TechMet Ltd. received a $25 million investment from the U.S. International Development Finance Corporation to help develop a Brazilian nickel and cobalt mine, the Dublin-based company said Monday in a statement. Cobalt is an important ingredient in cathodes of most electric-vehicle batteries and its refining capacity is largely under China’s control.“Investments in critical materials for advanced technology support development and advance U.S. foreign policy,” Adam Boehler, chief executive officer of the …read more […]