Porsche’s New Macan and 911 Put a Damper on Profitability
Porsche AG expects weaker returns this year due to the costly rollout of new models and high development spending in a challenging global economy. #press
Czech Central Bank Should Avoid ‘Jumbo’ Cuts, Policymaker Says
A senior Czech central banker sought to douse speculation over accelerated monetary easing, saying policymakers should cut interest rates at a steady pace to stem any return in inflation. #press
ECB Official’s Climate Comments Draw Rebuke From Staff Committee
European Central Bank staff said they were “shocked” by remarks by one of the institution’s top officials on how to approach climate change, urging President Christine Lagarde and her colleagues to rethink their leadership style. #press
Generational Opportunity in Commercial Real Estate
Nadeem Meghji, Blackstone Global Co-Head of Real Estate is seeing a generational buying opportunity in commercial real estate as demand grows for data centers and warehouses. He also announces a key milestone for Blackstone's BREIT. (Source: Bloomberg) #press
Lamborghini Sees Full Order Books as Super Rich Keep Shopping
Lamborghini has sold out of super-cars until 2026 as the wealthiest consumers show little sign of being hit by a broader global slowdown. #press
Looking For Millionaires? Zimbabwe Has Plenty of Them as Currency Crashes
A fresh plunge in the value of the Zimbabwean dollar means that everyone in the country with US$100 is now a millionaire in local-currency terms. Again. #press
PC Maker Raspberry Pi Picks Banks for IPO, Choosing London Over New York
Personal computer maker Raspberry Pi appointed bankers at Peel Hunt and Jefferies to prepare a London initial public offering, a listing that would be a win for the UK capital after an exodus of companies to the US. #press
Bitcoin Hits $49,000 as US ETF Trading Starts
Bitcoin pared gains after hitting $49,000, with trading commencing for the first US exchange-traded funds that invest directly in the cryptocurrency. James Seyffart of Bloomberg Intelligence and Bloomberg's Emily Graffeo discuss. (Source: Bloomberg) #press
Markets in 3 Minutes: UK CPI Print Fuels Global Bond Rally
Mark Cudmore and Anna Edwards break down today’s key themes for analysts and investors on “Bloomberg Markets Today.” (Source: Bloomberg) #press
The Biggest Challenges Facing Fed Chair Powell
Guests from Bloomberg Television talk about Federal Reserve policy, the odds of a soft landing and the biggest challenges facing Chair Jerome Powell. (Source: Bloomberg) #press
Malaysian Glovemakers Jump as Covid Cases Rise in Southeast Asia
Top Glove Corp., the world’s biggest glovemaker, led a rally of peers in Malaysia as Covid-19 cases surged in Southeast Asia to raise expectations of increased demand for medical gear. #press
India Allots $142 Billion for Free Grains to 800 Million People
India’s cabinet on Wednesday approved a proposal to spend 11.8 trillion rupees ($142 billion) to extend a free food program for about 800 million beneficiaries for five years. #press
China’s Belt and Road Eyes Smaller Projects, More Use of Yuan
China said it would prioritize small projects and push for greater use of the Chinese currency through its Belt and Road Initiative, as President Xi Jinping looks to inject new life into his flagship investment program amid a slowing domestic economy and global skepticism over the project’s... #press
South Korea to Ban Stock Short-Selling Until June 2024
South Korea is banning short-selling of stocks from Monday until June 2024. The country's regulators said it discovered "massive illegal naked short-selling by global investment banks and circumstances of additional illegal activities.” Youkyung Lee reports on Bloomberg Television. (Source: Bloomberg) #press
AI Will Not Be a Job Killer, Emanuel Says
Julian Emanuel of Evercore ISI says generative artificial intelligence will not be a job killer, instead he says it will help companies become more productive and connect with their clients. He's on "Bloomberg Surveillance." (Source: Bloomberg) #press
Bitcoin Has More Than Doubled This Year In Unforeseen Resurgence
Bitcoin has now more doubled in value this year in a surprising resurgence from a tumultuous 2022 that had some skeptics predicting the demise of digital assets. #press
RBI Approves Ashok Vaswani as Kotak Mahindra Bank’s CEO
Kotak Mahindra Bank Ltd. said India’s central bank has approved the appointment of Ashok Vaswani as its next chief executive officer and managing director, succeeding interim CEO Dipak Gupta. #press
Gas Deals Beyond 2050 Show Reality Gap on Europe Climate Goals
Two days after the European Union declared it will push for a global phase-out of most fossil fuels well before 2050, Shell Plc signed a 27-year agreement to buy Qatari liquefied natural gas for the Netherlands. #press
Economists Urge BOE to Rejig Bond Sales After Market Rates Spike
UK economists are urging the Bank of England to halt sales of long-dated government bonds under so-called quantitative tightening after a collapse in bond prices threatened to lock in billions of pounds of losses for taxpayers. #press
First Woman to Lead Germany’s Biggest Union Takes Aim at Tesla
The incoming first female head of Germany’s most powerful labor union IG Metall is warning Elon Musk about efforts to avoid unionization at his Tesla Inc. factory near Berlin. #press
