China’s Commodities Conundrum Isn’t All Doom and Gloom
Rising exports and an expanding green economy are helping offset the black clouds hovering above property developers. #press
Wise Allowed Sanctioned Customer to Withdraw £250, UK Says
Wise Plc allowed a customer to withdraw £250 ($317) from a business account while they were subject to Russian sanctions, according to the UK government. #press
Why Oppenheimer's Stoltzfus Is Sticking With Bullish S&P 500 Call
Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus explains his firm's bullish 4,600 year-end call for the S&P 500 index on "Bloomberg Surveillance." (Source: Bloomberg) #press
The Mutual Fund Is Very Much Alive and Well
On this episode of Trillions, Bloomberg Intelligence analyst David Cohne reveals five fascinating discoveries from deep inside this $24 trillion world. #press
CIBC Misses Estimates as Provisions for Souring Loans Increase
Canadian Imperial Bank of Commerce fell far short of analyst estimates as the lender set aside more than expected for souring loans. #press
Bloomberg Markets Today 08/31/2023
Markets Today has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Tom Mackenzie and Mark Cudmore. Today's guests: Daniel McCormack, Macquarie Group Ltd Head of European Economics... #press
Five Things You Need to Know to Start Your Day
Good morning. Caution urged on Fed policy, potential green shoots in China and record profit for a Swiss lender. Here’s what’s moving markets. #press
US Temporary-Help Drop Flashes Recession. Hiring Execs Disagree
US temporary-help employment, historically a harbinger of turns in the labor market and the economy, has fallen for six straight months and is signaling a recession ahead. Some industry veterans aren’t buying it. #press
Pernod Richard CEO Sees ‘Soft’ Sales Ahead in US
Pernod Richard CEO Alexandre Ricard discusses fourth-quarter results and says the company expects a “soft Q1 in the US” for sales. He speaks on “Bloomberg Surveillance Early Edition.” (Source: Bloomberg) #press
Some Country Garden Bondholders Seek Default on Yuan Note
A group of Country Garden Holdings Co. creditors is seeking to declare a default on a yuan bond, adding a fresh complication for the distressed Chinese developer whose liquidity crisis has shaken the nation’s financial markets. #press
Russians Top Emaar Buyers as Demand for Dubai Homes Stays Strong
Russians are the top buyers of properties from Dubai’s biggest developer, a sign that demand from investors seeking safe havens remains strong more than a year after Moscow’s invasion of Ukraine. #press
Biggest Indian Bank’s Unit Plans $2 Billion Private Credit Fund
An arm of India’s biggest lender HDFC Bank Ltd. is seeking to raise as much as $2 billion for a real estate private credit fund as demand for new homes surges in the world’s most populous country. #press
European Stocks Gain as UBS Rally Outweighs Inflation Concerns
European equities gained on Thursday as a rally in UBS Group AG, driven by the biggest-ever quarterly profit, outweighed signs of sticky inflation and mixed economic data from China. #press
Sri Lanka August Inflation Moderates as Food Price Gains Slow
Sri Lanka’s disinflation trend continued in August, aided by slower rise in food prices and an exceptionally high base effect from last year. #press
First Look With Surveillance: UBS Soars, ECB Outlook
Dani Burger and Simone Foxman take you through what to watch today.
(Source: Bloomberg) #press
South African Platinum Giant Looks at Shift Into Green Metals
Impala Platinum Holdings Ltd. is looking to shift toward metals key to the green energy transition as electrification threatens its core business in southern Africa. #press
Driest August in a Century Stokes Fears of More India Crop Curbs
India received the lowest August rains since at least 1901, prompting concerns about weaker crop output and the potential for more export restrictions following the South Asian nation’s curbs on rice. #press
UK Power Plants Barred From Charging Extreme Prices This Winter
Britain’s energy regulator approved new rules designed to ban generators from charging sky-high prices for power using a tactic that’s piled millions onto consumer bills. #press
Euro-Zone Inflation Misses Expectations at 5.3% in August
Euro-area inflation stopped slowing in August as consumer prices rose 5.3% from a year earlier because of energy. Maria Tadeo reports on Bloomberg Television. (Source: Bloomberg) #press
Top Middle East Aluminum Maker Sees Prices Rising With Demand
The biggest aluminum producer in the Middle East, whose shareholders are considering an initial public offering, sees prices of the metal rising as demand gains, though it didn’t say when that increase is likely to happen. #press
