Oct.19 — With the presidential election little more than two weeks away, Bloomberg’s Derek Wallbank considers the importance of early voting, the latest polls, and a subtle shift in the rhetoric of Republican senators which could indicate which whether Donald Trump or Democrat Joe Biden are heading for victory. Wallbank reports on “Bloomberg Markets: European Open.” …read more […]
US president Donald Trump announced on August 11, 2020, that the “Made in Hong Kong” label could no longer be used on US-bound exports from the city. The order, which requires Hong Kong exports to be labelled as “Made in China”, came as Washington imposed sanctions against Hong Kong over a national security law imposed on the city by China’s central government.
Two local businessmen spoke with the South China Morning Post about how policy has affected their operations. Both were concerned that… …read more […]
(Bloomberg) — ESG investing is the most significant development in money management since the creation of the exchange-traded fund two decades ago and it will reshape finance just as passive funds have.That’s the finding of a new report from PwC that forecasts as much as 57% of mutual fund assets in Europe will be held in funds that consider environmental, social and governance factors by 2025, or 7.6 trillion euros ($8.9 trillion), up from 15.1% at the end of last year. In addition, 77% of institutional investors surveyed by PwC said they plan to stop buying non-ESG products within the …read more […]
Oct.19 — Tech is “having the time of its life and is not going anywhere, vaccine or no vaccine,” says Baring Investment Services Chief European Strategist Agnes Belaisch. She speaks on “Bloomberg Markets: European Open.” …read more […]
(Bloomberg) — Danone is reviewing its entire portfolio for underperforming assets in Chief Executive Officer Emmanuel Faber’s biggest shakeup of the French yogurt maker, whose shares are languishing near a six-year low.The company is putting the Vega protein powder brand up for sale as well as a unit in Argentina, getting rid of businesses that contribute 500 million euros ($585 million) to revenue. The stock rose as much as 1.8% in Paris.Two weeks after raising 470 million euros by selling a stake in Japanese beverage maker Yakult Honsha Co. and ending a two-decade alliance, Faber is set to divest even …read more […]
The Dow Jones is rising this Friday, looking for its first daily gain in four sessions after the release of strong U.S. consumer data to end a volatile week. …read more […]
As a volatile trading week winds down, US stock futures are consolidating ahead of the open. Also, the Nasdaq is in focus. …read more […]
Oct.19 — Helen Qiao, chief Greater China economist at BofA Securities, discusses the health of the world’s second-largest economy and its policies. Gross domestic product climbed 4.9% in the third quarter from a year ago. That’s lower than economists forecast. Retail sales expanded 3.3% in September, industrial production grew 6.9% in the month and investment growth accelerated to 0.8% in the nine months to the end of the quarter. Qiao speaks on “Bloomberg Markets: Asia.” …read more […]
(Bloomberg) — Oil was steady near $41 a barrel in New York before an OPEC+ meeting to assess the state of the market as demand comes under pressure once again from a resurgent coronavirus.The Joint Ministerial Monitoring Committee, which typically reviews compliance to the group’s pledged output cuts, will meet online Monday. While no supply decisions are expected until the conclusion of a gathering on Dec. 1, leading members Saudi Arabia and Russia are stepping up diplomacy as the market faces more crude from Libya and OPEC predicts less demand for its oil.House Speaker Nancy Pelosi, meanwhile, set a Tuesday …read more […]
Oct.18 — Conrad Clifford, regional vice president for Asia Pacific at the International Air Transport Association, looks at how the coronavirus outbreak is affecting the global airline industry. Singapore and Hong Kong will open their borders to one another for the first time in almost seven months, exempting people in both cities from compulsory quarantine in an agreement that will reinstate links between Asia’s two premier financial hubs. Clifford speaks on “Bloomberg Markets: Asia.” …read more […]
The e-commerce giant is hoping to further leverage its digital presence to support Sun Art’s 481 hypermarkets and three mid-size supermarkets in China. The move comes as Alibaba steadily expands its presence in China’s offline retail sector, as growth in traditional e-commerce slows. Alibaba, which already owned 21% of Sun Art through a unit, will raise its stake to around 72% through the acquisition of a similar stake in A-RT Retail Holdings, who owns 51% of Sun Art. …read more […]
(Bloomberg) — Alibaba Group Holding Ltd. will invest about $3.6 billion to double its stake in Sun Art Retail Group Ltd., taking control of one of China’s largest hypermarts to try and fend off rivals like JD.com Inc. in e-commerce’s hottest growth arena.Alibaba will raise its direct and indirect stake in the grocery chain to about 72% by acquiring equity from Auchan Retail International SA, then make a general offer to shareholders to buy out the rest of Sun Art. The latter’s Hong Kong-listed stock leapt as much as 30% Monday, its biggest intraday gain since 2011.The deal signals the …read more […]
Oct.18 — House Speaker Nancy Pelosi is now saying that Tuesday is now the deadline for an agreement on stimulus before the election. Over the weekend, President Donald Trump said he can convince Republicans to back a so-called “good” deal. Bloomberg’s Enda Curran reports on “Bloomberg Markets: China Open.” …read more […]
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