Life-Threatening Heat is Forcing Germany to Ramp Up Defenses
In Germany, mild summers are becoming a thing of the past. In areas where green pastures used to flourish, fields now lie yellow. Species of tropical mosquitoes normally found in Asia have been spotted in Bavaria. Summer temperatures frequently exceed 30 degrees Celsius (86 degrees Fahrenheit). #press
Philippines Says in Talks With Vietnam, India for Rice Imports
The Philippines is in talks to import rice from Vietnam and India as the Southeast Asian nation seeks to boost its buffers and lower prices, an agriculture official said. #press
China's Growth in Question
China's economic growth story is cracking under pressure from its local debt and US policies curbing investment in its technology sector. (Source: Bloomberg) #press
https://www.bloomberg.com/news/videos/2023-08-11/china-s-growth-in-question?utm_source=press.coop
Bank Contagion Concerns
Kristin Bitterly, Citi Head of North America Investments and Liz Ann Sonders, Charles Schwab Chief Investment Strategist discuss whether risks from commercial real estate and capital requirements will bleed through to the broader markets. (Source: Bloomberg) #press
https://www.bloomberg.com/news/videos/2023-08-11/bank-contagion-concerns?utm_source=press.coop
AMC’s Revised Stock Conversion Plan Approved by Court
AMC Entertainment Holdings Inc. won court approval of a stock conversion plan that had spurred a shareholder lawsuit and cast a cloud over the movie theater chain’s efforts to secure new financing. #press
Owner of Local Sports Channels Wants Bankruptcy Exit Plan Set Before NHL, NBA Seasons
Diamond Sports Group, the bankrupt owner of local sports channels, is racing to formulate a Chapter 11 exit plan before professional basketball and hockey resumes so it can reassure the leagues, teams and fans that it’s ready to broadcast upcoming games. #press
US Inflation Metrics Diverge, Complicating Outlook for Cooldown
US inflation metrics gave mixed signals in separate reports Friday, complicating a narrative of moderating price pressures in the world’s largest economy. #press
Bloomberg Surveillance: Early Edition 08/11/2023
Bloomberg Surveillance: Early Edition, live from London and New York, Dani Burger and Kriti Gupta deliver the latest news and analysis on the markets with leaders in global finance and economics. abrdn Investment Director Luke Hickmore discusses Thursday’s subdued US inflation report and divided comments from Federal... #press
The Pulse With Francine Lacqua 08/11/2023
The Pulse With Francine Lacqua is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops. Today's guests: Maya Bhandari, BNP Paribas Asset Management Head of... #press
Norway’s $1.4 Trillion Wealth Fund Wants ESG Ratings Overhauled
Norway’s $1.4 trillion wealth fund is backing a European Commission proposal to overhaul the ESG ratings industry amid concerns that a lack of transparency and consistency among score providers is undermining confidence. #press
Adani Ports Auditor Deloitte to Resign After Flagging Concerns
The auditor of billionaire Gautam Adani’s ports business is planning to resign, people familiar with the matter said, a move that may heighten concerns about accounting quality at the Indian conglomerate targeted by short seller Hindenburg Research. #press
First Look With Surveillance: US PPI, China Skakeup
Dani Burger and Kriti Gupta take you through what to watch today.
(Source: Bloomberg) #press
Five Things You Need to Know to Start Your Day
Get up to speed with what the markets are monitoring #press
Shipping CEO Sees ‘Green Shoots,’ Says Container Rates Must Rise #press
Top UAE Grocer Lulu to Raise $2.7 Billion Ahead of Possible IPO
Lulu Group International, which operates one of the Middle East’s largest hypermarket chains, is raising 10 billion dirhams ($2.72 billion) to refinance debt ahead of a potential initial public offering, people familiar with the matter said. #press
European Stocks Lifted by Luxury as China Eases Travel Curbs
European stocks extended gains into a second session, as China’s decision to relax travel curbs offered a lift to travel and luxury goods companies. #press
A Week of 1% Moves on the S&P 500 Could Trigger Forced Selling
It could take just a 1% move in the S&P 500 — up or down — every day for a week for the rally in US stocks to come under significant pressure. #press
Moody's Choi Previews Alibaba's Earning Results
Moody’s Investors Service Senior VP Lina Choi previews Alibaba's earning results. She speaks with David Ingles and Yvonne Man on "Bloomberg Markets: China Open". (Source: Bloomberg) #press
Global Funds, Japan Banks Have Big Opposing Bets on JGB Futures
Open interest in Japanese government bond futures is hovering around the highest level in two decades as global funds and local players take opposing bets in a market that remains distorted by the central bank. #press
Citadel's de Pass Sees Rates Staying Higher for Longer
Michael de Pass, Citadel Securities global head of rates trading, discusses the state of the US Treasury market and Citadel's commitment to being a market maker with Matt Miller and Sonali Basak on "Bloomberg Markets." (Source: Bloomberg) #press
