Tech, Consumer Stand Out as China Earnings Revival Hopes Grow
China’s tech and consumer earnings stood out in an otherwise disappointing results season, emerging as pockets of resilience that can help equity markets turn a corner as stimulus measures kick in. #press
Hong Kong Reopens With Flights Resuming as Typhoon Saola Departs
Hong Kong started gradually reopening Saturday after a typhoon forecast to be the strongest to hit the territory in about five years departed, leaving minimal reported damage. #press
Tesla Refreshes Model 3 Sedan
Tesla is revamping the Model 3 sedan with sleeker looks and longer range while slashing prices of its premium vehicles in an all-out push to boost sales. Bloomberg's Dana Hull joins Ed Ludlow to discuss on "Bloomberg Technology." (Source: Bloomberg) #press
Mexico’s Dos Bocas Produces Fuel Over a Year After Inauguration
Mexico’s flagship Dos Bocas refinery will start producing fuel today, after the over-budget plant was technically opened last year and missed a deadline to start operations. #press
Jobs Report Takes Pressure Off of Fed, Kroszner Says
Former Federal Reserve Governor Randall Kroszner expects the Fed to hold on rates for the rest of the year in the wake of the August US employment report. He speaks with Tom Keene on "Bloomberg Surveillance." (Source: Bloomberg) #press
US Hiring Picks Up in August While Wage Growth Slows
US nonfarm payrolls rose 187,000 after the prior two months were revised significantly lower, a Bureau of Labor Statistics report showed. Mike McKee reports on "Bloomberg Surveillance." (Source: Bloomberg) #press
Labor Market Is Normalizing, Says BlackRock’s Rosenberg
Jeffrey Rosenberg, systematic multi-strategy fund portfolio manager at BlackRock, says, “this is the report the market was looking for,” as he examines the August US jobs report and what it means for Federal Reserve policy. He speaks on “Bloomberg Surveillance.” (Source: Bloomberg) #press
The Pulse With Francine Lacqua 09/01/2023
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. Guests include: France Minister for Europe Dr. Laurence Boone,... #press
Russia Splits on Capital Controls With Outflow Threatening Ruble
Russia is hashing out a strategy for countering outflows of capital, with top officials disagreeing over the option of tighter controls as the ruble again comes under pressure to depreciate. #press
Spanish Food Industry Group Makes Plea for Water as Drought Threatens Crops
Spain’s food and drink industry made a rare call for the government to grant it priority access to water amid a drought that’s threatening food supplies in the southern European country. #press
Intesa Sees Less Than €1 Billion Impact From Italy Bank Tax
Intesa Sanpaolo SpA estimates that Italy’s tax on banks’ windfall profits will have an impact of less than €1 billion ($1.1 billion) on the firm, based on changes already approved by the government. #press
British Chemicals Group Johnson Matthey Soars on US Investment
Johnson Matthey Plc jumped after an American investor doubled its stake in the British chemicals group, with one analyst predicting takeover speculation will follow. #press
Novo Nordisk Briefly Overtakes LVMH as Biggest European Company
Danish drugmaker Novo Nordisk A/S momentarily surpassed French luxury powerhouse LVMH to become Europe’s most valuable company, buoyed by demand for its blockbuster obesity medicines. #press
Windfall Tax ‘Not Dramatic’ to Italy Banks: Intesa Chair
Intesa Sanpaolo Chairman Gian Gros-Pietro discusses the potential impact of the Italian government’s plan for a windfall tax on his firm and the nation’s banks. He speaks with Francine Lacqua on the sidelines of the Ambrosetti Forum in Cernobbio on Lake Como, Italy, on “Bloomberg Surveillance.”... #press
South Africa Set for Growth Take-off if Reforms Happen, IMF Says
South Africa could drastically boost economic growth if it fixes its ailing energy and logistics sectors, and reduces crime, a top International Monetary Fund official said. #press
Vedanta Weighs Ex-Gold Fields CEO for Top Africa Base Metals Job
Vedanta Resources Ltd. is considering appointing former Gold Fields Ltd. boss and Anglo American Plc executive Chris Griffith as head of its African base metals business, according to people familiar with the matter. #press
Oil Traders Expect Saudi Arabia to Hold the Line
Forecast is for kingdom to persevere with 1 million-barrel cut as China slumps and Iran pumps. #press
Roubini Sees Global Equities Dropping 10% If Economy Softens
Economist Nouriel Roubini, who correctly predicted the 2008 financial crisis, said global stocks could drop as much as 10% in the second half if the economy surprises negatively. #press
Ukraine Seeks to Boost Crop Exports Via Danube Despite Attacks
The Ukrainian grain industry is lobbying the governments of Ukraine and Romania to set up anchorage areas in the waters of both countries to help increase outbound grain shipments via the Danube River. #press
Fed’s Bostic Expects ‘Shaking Out’ of Existing US Debt
Federal Reserve Bank of Atlanta President Raphael Bostic said there will be a period of some disruption for the US economy as debts are refinanced at significantly higher interest rates. Bostic spoke Friday at the South African Reserve Bank’s Biennial Research Conference in Cape Town. (Source: Bloomberg) #press
