3M Tried to Hide Payments for China Officials’ Vacation, Shopping Sprees, SEC Says
3M Co. will pay more than $6.5 million to settle Securities and Exchange Commission allegations that it tried to hide payments to send Chinese government officials on overseas vacations and shopping sprees. #press
Blackstone’s Bellagio Deal Values Las Vegas Hotel at $5 Billion
Blackstone Inc. is selling a piece of the Las Vegas hotel Bellagio, a move that will generate cash for investors in a $67 billion property fund for wealthy individuals. #press
Japan Fishing Industry Reels After China’s Fukushima Embargo
Japan’s fishing industry is getting hit with falling prices and growing uncertainty after the Chinese government imposed a ban on the country’s marine products in response to its decision to release wastewater from the Fukushima nuclear site into the Pacific Ocean. #press
Soy Heads for Second Weekly Gain as US Heat Gives Way to Dryness
Soybean futures rose for a second week, as a dry spell is due to follow the heat wave abating in the central US. #press
Global Banks Tear Up Forecasts for Turkish Rates After Huge Hike
Economists at the world’s biggest lenders have a lot of catching up to do in rewriting forecasts for Turkish interest rates after the central bank blindsided the market on Thursday with an unexpectedly steep hike. #press
Finland Detains Russia War Commander Linked to Wagner, Media Say
Finnish authorities have arrested a leader of a Russian ultra-nationalist paramilitary group that’s participated in the invasion of Ukraine alongside other Kremlin-backed forces. #press
Turkey's Banks, Industrials Diverge After Mega Rate Hike
The Turkish central bank’s unexpected jumbo rate hike on Thursday has sent the country’s banking and non-financial stocks diverging as investors focus on individual impacts across sectors. #press
SGMC Capital: First Fed Rate Cut Between 2Q And 3Q 2024
SGMC Capital Founder & CEO Massimiliano Bondurri expects the first Fed rate cut to occur anytime between the second and third quarter of next year. He speaks with Haslinda Amin and Rishaad Salamat on "Bloomberg Markets: Asia". (Source: Bloomberg) #press
Goldman Warns China Stress Can Spill Over to Asia, Cuts Targets
A spillover of China’s property market stress to the rest of Asia will slow the region’s earnings and returns, Goldman Sachs strategists wrote in note, slashing multiple price targets for the MSCI Asia Pacific ex Japan Index. #press
First Look With Surveillance: Putin Power, Prigozhin
Tom Mackenzie and Kriti Gupta take you through what to watch today.
(Source: Bloomberg) #press
Jobless Claims Fall to Lowest Level in Three Weeks
Initial jobless claims decreased by 10,000 to 230,000 in the week ended Aug. 19, according to Labor Department data out Thursday. The median estimate in a Bloomberg survey of economists called for 240,000 applications. Mike McKee breaks down the numbers and what they might mean for the path of Federal... #press
Ugandan Bonds Can Bounce Back From World Bank Funding Setback
A surge in yields on Uganda’s local-currency debt spurred by the World Bank’s decision to halt new loans in protest at new anti-LGBTQ laws may reverse as global sentiment improves and the government unveils new sources of financing, according to Absa Bank Ltd. #press
Belarus Opposition Leader on Prigozhin, Putin, Wagner Group
Belarus Opposition Leader Sviatlana Tsikhanouskaya says, “it’s not mistake or accident,” as she discusses the plane crash that presumably killed Wagner founder Yevgeny Prigozhin and the leadership of Russian President Vladimir Putin with Maria Tadeo on “Bloomberg Surveillance Early Edition.”... #press
Ailing Chinese Copper Giant Announces Tie-Up to Help Debt Crisis
The struggling trading house that until recently was China’s top copper merchant has agreed a partnership with a Russian think tank and a Hong Kong company, a deal it said would help it resolve its debt crisis. #press
India Sees Inflation Abating Soon After Deploying Its ‘Toolkit’
India’s inflation should abate in the coming months as policymakers are taking every possible step to cool down soaring prices, according to a top Finance Ministry official. #press
Plane Orders from Auckland to India Show Travel Boom’s Longevity
Qantas Airways Ltd. and Air New Zealand Ltd. have both snapped up new planes to boost previous multibillion dollar aircraft orders, suggesting aviation’s lucrative post-Covid travel boom is far from over despite concerns about sky-high fares. #press
PIMCO's Schneider on Markets, Strategy
Jerome Schneider, Head of Short-Term Portfolio Management & Funding at PIMCO, discusses his latest market outlook and investment strategies. He speaks with David Ingles and Yvonne Man on "Bloomberg Markets: China Open". (Source: Bloomberg) #press
Bloomberg Daybreak: Australia 08/24/2023
Haidi Stroud-Watts in Sydney and Shery Ahn in New York drive to the Asia, Australia and New Zealand market opens while wrapping the biggest stories of the previous day on Wall Street. Today's guests: NFJ Investment Group Managing Director & Senior Portfolio Manager Burns McKinney, CFRA Vice President & Senior Equity... #press
Bloomberg Markets 08/23/2023
Equities are higher as Wall Street awaits earnings results from Nvidia, which has more than doubled in value this year. Plus, Aetos CEO Scott Kelley joins "Bloomberg Markets" to discuss headwinds for commercial real estate. And Barclays Senior Analyst Adrienne Yih joins Matt Miller and Amber Kanwar to discuss the muted outlook for the US consumer. (Source:... #press
https://www.bloomberg.com/news/videos/2023-08-23/bloomberg-markets-08-23-2023?utm_source=press.coop
Apollo Looks to Raise Billions for Atlas Unit It Bought From Credit Suisse
Apollo Global Management Inc. is looking to raise debt and equity to help fund the growth of the securitization business it bought from Credit Suisse Group AG, according to people with knowledge of the matter. #press
