Five Things You Need to Know to Start Your Day
Country Garden warns it may default on debt. New Huawei phone triggers 5G speculation. There’s a super typhoon heading for Hong Kong. Here’s what you need to know today. #press
China Beige Book: Parts of Economy on Track for Rebound
Shehzad Qazi, managing director of China Beige Book International, discusses the state of the world's second-largest economy and its outlook. "Even as some financial media report of China’s imminent collapse, China Beige Book’s real-time data for August show parts of the economy are on track for a... #press
Traders Defy PBOC’s Yuan-Fixing Guidance for Record-Long Stretch
A gauge of trader sentiment toward China’s yuan has produced a bearish reading for a record 51 straight days, showing the challenges facing Beijing as it seeks to support its sinking currency. #press
China Funds Cap Longest Hong Kong Stock Buying Spree Since April
Chinese onshore investors have bought Hong Kong-listed shares on a net basis for eight-straight sessions, the longest streak since April, helping boost the sense that stability may be returning to the market. #press
Raimondo Says Predictable Regulations in China Needed
US Commerce Secretary Gina Raimondo emphasized the need for a predictable regulatory environment in China as she wrapped up a visit to the nation that was intended to improve economic ties. Eric Martin reports on Bloomberg Television. (Source: Bloomberg) #press
Country Garden Posts Record Loss, Warns Default Possible
Country Garden Holdings Co., the distressed Chinese developer that’s shaken the nation’s financial markets, has posted a record loss and warned that it may default on its debt as bondholders finish voting on its request to extend repayment. Annabelle Droulers reports on Bloomberg Television.... #press
Asia Stocks Set to Follow US Gains on Fed Outlook: Markets Wrap
Shares in Asia are poised to follow Wall Street gains after US economic reports pointed to slowing growth, adding to bets the Federal Reserve is nearing the end of its tightening cycle. #press
Active ETFs Cash In on Corporate Reform in Japan
Actively managed exchange-trade funds are set to launch in Tokyo next week, with one asset manager focusing its strategy on corporate Japan’s effort to elevate shareholder returns. #press
France’s Pinault Nears $7 Billion Deal for Talent Agency CAA
French billionaire Francois-Henri Pinault is close to a $7 billion deal to buy a majority stake in Creative Artists Agency, the Hollywood talent giant that’s home to actor Brad Pitt and basketball’s Chris Paul, according to people familiar with the matter. #press
Italy Mulls Selling Stakes in State-Owned Firms to Raise Cash
Prime Minister Giorgia Meloni’s coalition is considering selling minority stakes in selected state owned companies to boost Italy’s public finances. #press
Gutsy Tesla ETF Wants to Time Bets on Famously Volatile Shares
Shares of Tesla Inc. are famously among the most-volatile in the market, but one exchange-traded fund issuer reckons it can time its bets on the electric-vehicle maker to amplify gains and cushion declines. #press
Too Early to Make Call on Turning Point for Weak Dollar, SocGen’s Kit Juckes Says
The dollar’s slide to the lowest in more than two weeks has reignited the debate that the greenback is on the cusp of a sustained downturn. For Kit Juckes at Societe Generale, it’s too early to make that call ahead of the US monthly payrolls report on Friday. #press
Texas Hospital’s Missteps Lead to Bankruptcy Two Years After Opening
Trinity Regional Hospital Sachse borrowed $68 million just three years ago to build a new, state-of-the-art facility in a fast-growing area northeast of Dallas. #press
Rising Stock Prices Threaten Progress on Powell Inflation Gauge
A key gauge of services inflation touted by Federal Reserve Chair Jerome Powell is set for a surge in figures due Thursday, almost entirely due the recent run-up in the stock market. #press
European Stocks Close Lower as Utilities Lead Losses on Orsted
European stocks closed lower, wiping out gains in afternoon trading, as investors weighed mixed economic data across the US and euro area. Utilities slumped after a gloomy update from Orsted A/S. #press
Apple's 'Wonderlust' iPhone 15 Event
Bloomberg's Mark Gurman joins Caroline Hyde and Ed Ludlow to discuss what to expect at Apple's next event set for September 12, where the company will unveil the iPhone 15 line and its next-generation smartwatches. He speaks on "Bloomberg Technology." (Source: Bloomberg) #press
Puerto Rico Utility Bankruptcy Plan Faces Growing Opposition
An increasing number of creditors are pushing back against a plan to cut the debt load of Puerto Rico’s bankrupt power utility by 75%, with investors and insurers accounting for $3.6 billion of the bonds set to vote against the proposal, a lawyer warned Wednesday. #press
Pot Stocks Jump on Call to Move Marijuana to Lower-Risk Category
Marijuana stocks surged on Wednesday after the US Department of Health and Human Services sent a letter to the Drug Enforcement Agency urging them to loosen rules on cannabis. #press
Bosch CEO on Close of TSI Semiconductors Acquisition
Bosch will close the acquisition of US chipmaker TSI Semiconductors this week. The world's biggest auto-parts supplier plans to invest more than $1.5 billion in its California foundry. Bosch CEO Stefan Hartung joins Caroline Hyde and Ed Ludlow on "Bloomberg Technology." (Source: Bloomberg) #press
Denmark’s Government Expects Financing Need to Decline in 2024
Denmark’s government said it will have a lower financing need next year as the Nordic country’s AAA economy is coming out of the inflation crisis better than feared. #press
