Why Brookfield's Kingston Is Bullish on San Francisco, LA
Brian Kingston, CEO of Brookfield's Real Estate business, says he remains bullish on the prospects for San Francisco due to its status as a major tech hub. "This is now the fourth cycle that I have been through that San Francisco was down and out. It always comes back," he says on "Bloomberg... #press
Bloomberg Markets: Americas 08/03/2023
Alix Steel and Guy Johnson bring you the news you need to know and trends you need to watch as US markets get into the trading day. (Source: Bloomberg) #press
Mexico Says a Person Died on Texas’s Floating Border Barrier
Texas authorities are disputing claims by the Mexican government that a drowning in the Rio Grande was caused by the controversial buoys put up by the state. #press
Risky Credit Recovery Rates Hit Record Lows, JPMorgan Says
The amount of money investors are poised to get back from corporations that defaulted on their debt fell to a record low, according to JPMorgan Chase & Co. #press
Expedia Falls as Sales Miss Estimates, Signal Travel Slump
Expedia Group Inc. tumbled the most in more than a three years after reporting second-quarter revenue that missed analysts’ estimates, signaling a potential slowdown in travel demand during the busy summer season. #press
Colombia’s Government Bets Public Pension Fund Would Revive Capital Market Flows
Colombia’s government is betting that its proposed public pension fund would reinvigorate investment flows in the local bond and equity markets, according to a top Finance Ministry official. #press
Saudis Extend 1 Million-Barrel Oil Cut, Say Can Be Deepened
Saudi Arabia extended its unilateral oil production cut by another month, and said it could be prolonged further or even deepened. #press
Qualcomm Shares Sink as Smartphone Slowdown Continues
Qualcomm Inc., the largest maker of smartphone processors, tumbled as much as 11% after giving a tepid sales forecast for the current quarter, indicating that demand for mobile devices remains weak. Bloomberg's Ed Ludlow reports. (Source: Bloomberg) #press
Labour’s Miliband Calls for Action on UK Energy Loophole
The UK’s shadow energy secretary has demanded the government act urgently after a report showed how Drax Group Plc benefited from a loophole in a green-energy subsidy program that he said allowed households to be “ripped off.” #press
Ship Fire Began in Decks Where Cars Stored, Says Salvage Firm
The nearly week-long fire that ravaged a ship off the Dutch coast started in the upper decks where some cars were stored, according to the chief executive of the company handling salvage operations. #press
ConocoPhillips Agrees to Buy LNG From Mexico Project
ConocoPhillips agreed to a long-term deal to buy liquefied natural gas from an export terminal being developed on Mexico’s west coast. #press
Borrowers Flock to High-Yield Bonds, Ditching Leveraged Loans
The high-yield bond market is becoming a favorite of companies that once raised cash using leveraged loans, luring borrowers with lower costs and a wealth of investor demand. #press
Bloomberg The Open 08/03/2023
Jonathan Ferro highlights the market-moving news you need to know heading into the opening bell on Wall Street. (Source: Bloomberg) #press
https://www.bloomberg.com/news/videos/2023-08-03/bloomberg-the-open-08-03-2023?utm_source=press.coop
Bloomberg The Open 08/03/2023
Jonathan Ferro highlights the market-moving news you need to know heading into the opening bell on Wall Street. (Source: Bloomberg) #press
https://www.bloomberg.com/news/videos/2023-08-03/bloomberg-the-open-08-03-2023?utm_source=press.coop
Ship Fire Began in Decks Where Cars Stored, Says Salvage Firm
The nearly week-long fire that ravaged a ship off the Dutch coast started in the upper decks where some cars were stored, according to the chief executive of the company handling salvage operations. #press
Colombia’s Government Bets Public Pension Fund Would Revive Capital Market Flows
Colombia’s government is betting that its proposed public pension fund would reinvigorate investment flows in the local bond and equity markets, according to a top Finance Ministry official. #press
Saudis Extend 1 Million-Barrel Oil Cut, Say Can Be Deepened
Saudi Arabia extended its unilateral oil production cut by another month, and said it could be prolonged further or even deepened. #press
Bond Market Confronts Risk of Pivotal US Jobs Report
The mood is rapidly souring in the world’s biggest bond market, raising the stakes for Friday’s monthly US jobs data. #press
Fertilizer Port Logjam Will Take Weeks to Fix, Nutrien Says
Disruptions at two North American ports have created a logjam in fertilizer exports that will take weeks to be resolved, according to top supplier Nutrien Ltd. #press
Czechs End Koruna Backstop and Open Door for Possible Easing
The Czech central bank scrapped its implicit backstop against a weakening currency and signaled that a debate about potential monetary easing is nearing #press
