Sep.20 — Opposition lawmakers in Hong Kong are being urged to resign en masse before the legislative council reconvenes next month. The call comes after China delayed the elections for a year. Bloomberg’s Brendan Scott reports on “Bloomberg Daybreak: Asia.” …read more […]
Tens of thousands of Hongkongers have been left struggling to make ends meet after the Covid-19 pandemic hit the city on the heels of months of anti-government protests. Among the hardest hit are members of ethnic minority communities, including many who were already struggling with lower than average pay before the crisis. Since losing her job in April 2020, Sangita has been struggling to make ends meet as she takes care of her family. …read more […]
China’s ByteDance said on Monday that TikTok’s global business will become its subsidiary, even as Oracle Corp and Walmart Inc said over the weekend that they and U.S. investors would own the majority of the video app following a deal with U.S. President Donald Trump’s administration. Trump signed an executive order on Aug. 14 giving ByteDance 90 days to sell TikTok, amid concerns that the personal data of as many as 100 million Americans that use the app could be passed on to China’s Communist Party government. On Saturday, he said he supported a deal in principle that …read more […]
Oil prices fell on Monday on the potential return of oil output from Libya even as rising coronavirus cases add to worries about global demand, although losses were limited as a new tropical storm heads for the U.S. Gulf of Mexico. Brent crude was down 20 cents, or 0.5%, at $42.95 a barrel by 0039 GMT, while U.S. crude fell by 27 cents, or 0.7%, to $40.84 a barrel. Libya’s National Oil Corp (NOC) lifted force majeure on what it deemed secure oil ports and facilities on Saturday, but said the measure would remain in place …read more […]
Sep.20 — President Donald Trump’s push to fill the seat of the late Justice Ruth Bader Ginsberg is gaining traction already with the U.S. election being just weeks away. Bloomberg’s Greg Stohr reports on “Bloomberg Daybreak: Asia.” …read more […]
(Bloomberg) — Value shares are a better way to bet on a Covid-19 vaccine than cyclical stocks, even though the latter have gained favor for capturing the trade, according to Goldman Sachs Group Inc.Value shares beat their growth counterparts by more than 3 percentage points over the Aug. 22 to Sept. 8 period, when the chances of a vaccine available by the first quarter of 2021 jumped to about 70% from around 40%, Goldman strategists led by David Kostin wrote in a note Friday. Cyclical shares underperformed defensive ones, they said.Value stocks tend to have short-duration cash flows, so will …read more […]
KPS TO PARTICIPATE IN COMPANY’S DIP FINANCING TO SUPPORT OPERATIONS KPS HAS OBTAINED COMMITTED EXIT FINANCINGNEW YORK, Sept. 20, 2020 /CNW/ — KPS Capital Partners, LP (“KPS”) announced today that, through a newly formed affiliate, it has entered into a stock and asset purchase agreement with Garrett Motion Inc. …read more […]
Investors this week will look ahead to a packed calendar of events, including multiple appearances of Federal Reserve Chair Jerome Powell before Congress, Tesla’s inaugural battery technology event, and a handful of closely watched corporate earnings results and economic data releases. …read more […]
Sep.20 — Mayo Clinic Vaccine Research Group Director Gregory Poland discusses the timeline for a coronavirus vaccine. He speaks with Guy Johnson and Alix Steel on “Bloomberg Markets.” September 17, 2020 …read more […]
(Bloomberg) — U.S. stock futures opened with declines, while equities in Asia were set for a softer start after a dip on Wall Street on Friday. The offshore yuan edged higher.Currencies elsewhere saw small moves, with the dollar largely steady against its main G-10 peers. Japan’s equity market is shut for a holiday and cash Treasuries won’t trade until the London open. Stock futures signaled modest declines in Australia and Hong Kong. Crude oil retreated. As U.S.-China tensions linger, President Donald Trump said he’s approved Oracle Corp.’s bid for the U.S. operations of TikTok “in concept.” Meantime, the Trump administration’s …read more […]
(Bloomberg) — A coalition of gold investors, including firms backed by billionaires John Paulson and Naguib Sawiris, is urging changes at miners as performance “continues to fall short” in some areas even as prices rise.In an open letter to the mining industry, prominent gold investors including money managers at Franklin Templeton, CI Investments and members of the Shareholders’ Gold Council are targeting issues including executive compensation and directors who don’t have enough skin in the game because they don’t hold a meaningful amount of shares in the firms they represent. The signatories offered 16 suggestions to better align the interest …read more […]
(Bloomberg) — The fuel that powers passenger planes is normally among the most expensive oil products, but in a sign of the times the coronavirus has turned it into a blending component for typically cheaper shipping fuel.Straight-run kerosene, usually processed into jet fuel, is now being used to make very low-sulfur fuel oil for the maritime industry amid a plunge in consumption by airlines. Higher than normal amounts of diesel and vacuum gasoil are also finding their way into shipping fuel.The shift, almost unthinkable just a year ago, reflects the obliteration of demand the aviation industry has suffered in the …read more […]
Journal Editorial Report: The week’s best and worst from Bill McGurn, Jason Riley, Mary O’Grady and Dan Henninger. Images: Getty Images Composite: Mark Kelly …read more […]
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