A massive operation was under way to rescue Labor Day campers trapped in California’s Sierra National Forest by the Creek Fire. It’s one of more than 20 major fires burning in the state as a brutal heat wave pushes temperatures in many areas into triple digits. Photo: Marcio Jose Sanchez/AP …read more […]
The global economy is likely not headed for any major slowdown due to COVID-19 but piled-up storage and uncertainty over China’s oil demand cloud oil markets’ recovery, an official with International Energy Agency (IEA) said. Keisuke Sadamori, IEA director for energy markets and security, told Reuters the outlook for oil was in the midst of either a second wave or a steady first wave of the coronavirus. …read more […]
Pakistan is seeking the reversal of a $5.8 billion penalty imposed by an international tribunal for denying a mining lease to an Australian company, saying that paying the fine would hinder its handling of the coronavirus pandemic. The Reko Diq district in southwestern Pakistan’s Baluchistan province is famed for its mineral wealth, including gold and copper. Prime Minister Imran Khan’s government considers it a strategic national asset, though instead of yielding a bonanza the Reko Diq mining project may cost the country dearly. …read more […]
Sep.07 — Ajai Shukla, a retired Indian army colonel and defense analyst, looks at the standoff between the country and China. Defense ministers from the two governments agreed to defuse tensions after the latest clash on their Himalayan border revived a conflict that had been largely dormant since June. Shukla speaks with Rishaad Salamat and Haslinda Amin on “Bloomberg Markets: Asia.” (There were some audio issues) …read more […]
Stock pickers are generally looking for stocks that will outperform the broader market. And the truth is, you can make… …read more […]
Sep.07 — China’s exports continued to expand in August, as the country’s major trading partners gradually resumed business activities. Imports unexpectedly dropped. Grace Ng, senior China economist at JPMorgan, discusses what the figures say about the health of the world’s second-largest economy with Haslinda Amin and Rishaad Salamat on “Bloomberg Markets: Asia.” …read more […]
Spot gold was up 0.2% at $1,935.50 per ounce by 0341 GMT, moving further away from a one-week low of $1,916.24 touched on Friday. U.S. gold futures rose 0.5% to $1,943.40. “Also, the lower for longer interest rates narrative continues to chime well for the gold bulls right now.” …read more […]
(Bloomberg) — A Japanese billionaire said on Twitter that he had lost 4.4 billion yen ($41.4 million) by trading stocks amid volatile swings triggered by the pandemic.In a tweet titled “Deep Regrets,” Yusaku Maezawa, founder and former chief executive of online fashion retailer Zozo Inc., said he lost money through day trading — a practice he has failed to master. He expressed regret over the sum he had lost and vowed to recover it through his business.“I was blinded by the virus-driven market swings and lost 4.4 billion yen through repeated short-term trading of stocks, something I haven’t familiarized myself …read more […]
Sep.06 — Mitul Kotecha, senior emerging markets strategist at TD Securities, discusses the outlook for the dollar, Asian currencies and the euro. He speaks with Tom Mackenzie and Yvonne Man on “Bloomberg Markets: Asia.” …read more […]
Sep.06 — Jingyi Pan, market strategist at IG Asia, discusses the prospects for U.S., Asian stocks, and economies. She speaks with Tom Mackenzie and Yvonne Man on “Bloomberg Markets: Asia.” …read more […]
(Bloomberg) — China’s financial regulators plan to cap the interest rates Ant Group can charge borrowers on quick consumer loans, a move that could curb the financial technology giant’s biggest revenue driver as it prepares for a mega initial public offering.Loans made by Ant Group and other consumer lenders will be subject to a ceiling imposed by a China Supreme Court ruling last month, said people familiar with the plans, who asked not to be named as the information is private. Linked to a benchmark rate, the cap is currently 15.4%. The court said the rule doesn’t apply to licensed …read more […]
Sep.06 — Susan L. Shirk is an expert on Chinese politics and former Deputy Assistant Secretary of State during the Clinton administration. She is currently a professor at the School of Global Policy and Strategy at the University of California, San Diego. Shirk discusses Xi’s campaign to stay in power and Wang Yi’s visit to Europe. She speaks with Haidi Stroud-Watts and Sophie Kamaruddin on “Bloomberg Daybreak: Asia.” …read more […]
Oil prices dropped more than $1 a barrel on Monday, hitting their lowest since July, after Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months as optimism about demand recovery cooled amid the coronavirus pandemic. Brent crude was at $41.75 a barrel, down 91 cents or 2.1% by 0000 GMT, after it earlier slid to $41.51, its lowest since July 30. The world remained awash with crude and fuel supplies despite OPEC+ supply cuts and government efforts to stimulate the global economy and oil demand, forcing refiners to rein in output and …read more […]
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