Trump-Tied SPAC’s Rally at Risk as Sponsors Push for More Time
The blank-check company seeking to take Donald Trump’s media company public sweetened the proposed deal to keep the former president from walking away. Now it needs to make sure rank—and-file investors stick around, too. #press
Russians Take Ruble Plunge in Stride as Economy Adapts to War
Panic buying? Bank runs? Not at all — it’s business as usual in Russia. #press
European Gas Investors Boost Bullish Bets on Market Jitters
European natural gas investors have become the most bullish this year as volatility rattles the regional market for the fuel. #press
Euro-Zone Industrial Production Unexpectedly Grew in June #press
Argentine Peso to Slide 70% by Next Year, BofA Says
The worst is yet to come for the Argentina peso, already the world’s weakest currency this year, according to Bank of America Corp. strategists. #press
Brookfield Chases Apollo and Blackstone Into Insurance
Sachin Shah is leading the giant Canadian investment firm into a business that’s earned rich rewards for its private equity peers. #press
AI Wave Boosts Returns for Norway’s $1.4 Trillion Wealth Fund
Norway’s $1.4 trillion sovereign wealth fund returned 10%, or $143 billion, in the first half as demand for artificial intelligence and semiconductor components saw technology stocks rebound. #press
UK Latest: Inflation Falls Less Than Expected
Inflation in the UK remained higher than expected last month. The latest Consumer Price Index data may encourage the Bank of England to raise interest rates again. Lizzy Burden has more on Bloomberg Television. (Source: Bloomberg) #press
US Treasuries Are 'Still Safe,' HSBC's Major Says
Steven Major, global head of fixed-income research at HSBC, shares his views on Chinese government bonds, US Treasuries and central banks' policies. He speaks with David Ingles on "Bloomberg Markets: China Open." (Source: Bloomberg) #press
Chinese Shadow Bank Misses Dozens of Payments as Fallout Spreads
Zhongrong International Trust Co. missed payments on dozens of products and has no immediate plan to make clients whole, indicating troubles at the embattled Chinese shadow bank are deeper than previously known. #press
China New-Home Prices Drop at Faster Pace as Slowdown Worsens
China home prices dropped for a second month in July, a further sign of the deepening property slowdown that’s weighing on the world’s second-largest economy. #press
Bloomberg Markets: The Close 08/15/2023
Romaine Bostick and Katie Greifeld bring you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street and tackles US retail sales topping forecasts, Home Depot earnings top estimates and Discover falls on CEO resignation. Guests Today: Kathy Bostjancic of Nationwide Mutual... #press
Epstein Tapped JPMorgan to Help Goldman Top Lawyer Open Account
Jeffrey Epstein’s assistant reached out to a senior executive at JPMorgan Chase & Co. more than four years ago to help former Obama White House lawyer Kathy Ruemmler open an account before she joined Goldman Sachs Group Inc., where she is now general counsel, according to a court... #press
Buffett-Backed Occidental Petroleum to Buy Carbon Capture Startup
Houston-based Occidental Petroleum Corp., which is backed by billionaire investor Warren Buffett, has agreed to buy Canadian startup Carbon Engineering Ltd. for $1.1 billion. Su Keenan reports on Bloomberg Television. (Source: Bloomberg) #press
Yen Option Traders Unfazed by Risk of Intervention From Japan
The yen may have slumped to within a whisker of levels that saw Japan intervene in the currency market last year, but options traders see little need to prepare for a jolt from authorities in Tokyo. #press
Asia Stocks Set to Decline After US Slide Deepens: Markets Wrap
Asian stock markets are poised to open lower following declines across the board in the US as inflation and growth concerns sapped risk sentiment. #press
Uruguay Delivers Bigger Rate Cut as Inflation Eases to Target
Uruguay’s central bank delivered a bigger-than-expected interest rate cut after the inflation rate fell to an 18-year low in July, staying within its target range for a second consecutive month. #press
Restaurant Chain Cava Projects Profit Growth in First Update Since June IPO
Cava Group Inc. expects higher profits this year, although it cautioned that a muddy consumer-spending picture could limit sales gains. #press
EV Maker VinFast CEO on Nasdaq Trading Debut
Vinfast CEO Thuy Le discusses the EV maker's trading debut on the Nasdaq after completing a merger with blank-check company Black Spade Acquisition Co. that valued it at $23 billion. She speaks with Ed Ludlow and Caroline Hyde on "Bloomberg Technology." (Source: Bloomberg) #press
VinFast’s $65 Billion De-SPAC Valuation Vaults It Past Ford, General Motors
VinFast Auto Ltd. soared in its debut as a public company, vaulting its market capitalization beyond that of General Motors Co. and Ford Motor Co., as traders flipped shares of the electric-vehicle maker. #press
