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- Bloomberg•18 minutes ago
Rupiah Holds Edge Over Rupee in Currency Battle as Polls Near
The consensus: Indonesia’s rupiah will trump India’s rupee. Opinion polls show Indonesian President Joko Widodo is set to win the April 17 vote, while Indian Prime Minister Narendra Modi’s position appears less secure following regional defeats for his party late last year. “The rupiah offers a better
Reuters•18 minutes agoAsia shares bounce on trade talk, stimulus wagers
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.9 percent, largely recovering from a sharp fall last Friday. Japan's Nikkei climbed 1.8 percent to its highest level of the year so far, while Shanghai blue chips rallied 2.1 percent. The Dow and the Nasdaq had boasted their
Reuters•26 minutes agoSoftBank invests in Mubadala's new $400 million European tech fund: FT
Japan's SoftBank Group has provided nearly half the cash for the new $400 million fund by Abu Dhabi's state-owned Mubadala Investment Co that aims to back European start-ups, the Financial Times reported on Monday. Mubadala, which is a big investor in SoftBank's Vision Fund, will use the
- Bloomberg•36 minutes ago
Asia Stocks Climb on Trade Optimism; Oil Advances: Markets Wrap
Asian stocks rose to the highest level since October amid optimistic signs on the global economy and trade discussions. Shares in Hong and China led the advance as strong January credit data eased concerns about a slowdown in the biggest Asian economy. Japanese equities also climbed, while gains in
- Bloomberg•40 minutes ago
Global Rally Skips Indian Stocks as Nation Retaliates to Attacks
The Indian army said in a text message that it’s engaged in a military encounter in Kashmir, with a report that some more personnel were killed. The benchmark S&P BSE Sensex fell 0.5 percent to 35,626.59 as of 10:03 a.m. in Mumbai, headed for an eighth day of declines, its longest losing streak since
Reuters•47 minutes agoNew Zealand to target online giants with digital tax
New Zealand said on Monday that it plans to update its laws so it can tax revenue earned by multinational digital firms such as Google, Facebook and Amazon, extending a global effort to bring global tech giants into the tax net. Prime Minister Jacinda Ardern said the cabinet had agreed to issue a discussion
- CNBC•54 minutes ago
Here's why Apple is cutting iPhone prices in China
Apple's iPhone is highly expensive compared to comparable products sold in China.
- The Canadian Press•1 hour ago
Aurora shooter's permit was revoked but gun wasn't seized
AURORA, Ill. — An initial background check failed to detect a felony conviction that should have barred the man who killed five co-workers and wounded six other people at a suburban Chicago manufacturing plant from buying the gun.Months later, a second background check of Gary Martin found his 1995 aggravated
- Bloomberg•1 hour ago
Here Comes DBS’s Muddle-Through Year
Rising global interest rates, amplified by U.S. president Donald Trump’s late-cycle fiscal expansion, boosted DBS Group Holdings Ltd.’s loan profitability. In the past three months, the two to four rate increases CEO Piyush Gupta expected from the Federal Reserve in 2019 have begun to look all but impossible
- Bloomberg•1 hour ago
Yes Bank Falls as India Regulator Censures Selective Disclosure
The risk assessment report on Yes Bank prepared by the Reserve Bank of India identified several lapses and regulatory breaches in various areas of functioning, the company said in a stock exchange filing on Friday, citing a letter from the regulator. Following the audit, India’s central bank twice rejected
- Bloomberg•1 hour ago
Politics Looms Over Thai Economy as Election Stirs Tension
The unfolding drama is a reminder of Thailand’s cycle of polls, unrest and military intervention since 2006. "We don’t expect election-related chaos as we approach the election date," said Eugenia Victorino, head of Asia strategy at Skandinaviska Enskilda Banken AB in Singapore. Forecasters
- Bloomberg•1 hour ago
U.S. Insists Europe Is Following Trump's Lead. Cue Awkward Silence
The nature of that problem was on display throughout the three-day event: The U.S. is at odds with not only its great power rivals Russia and China, but also with its allies in Europe and elements of the international system that Washington itself was largely responsible for building. You could trace
- Bloomberg•1 hour ago
ECB Eyes Data as Slowdown Proves ‘Significant,’ Villeroy Says
The extent of the weakness at the end of 2018 has taken policy makers by surprise, with Italy entering recession and Germany narrowly avoiding the same fate. The ECB has so far stuck to its guidance that it will keep borrowing costs at record lows at least through the summer, indicating hikes could
- Bloomberg•1 hour ago
New Zealand Fears China Might Give It the Cold Shoulder
When an Air New Zealand jet to Shanghai was forced to turn around earlier this month, it seemed a relatively innocuous event put down to misfiled paperwork. While Prime Minister Jacinda Ardern denies any friction, the opposition is calling on her government to shore up the relationship to avoid potentially
- Bloomberg•2 hours ago
TSMC's Not-New Management Presents New Challenges for Investors
TSMC was quite open about the issue in a statement late Friday. For the full-year, operating margin will be cut by 0.2 percentage points -- which I estimate to be around $70 million, based on its previous revenue guidance. Just five months prior, another supplier mishap brought some TSMC production
- Bloomberg•2 hours ago
Trump Receives Report on U.S. Security Threat of Auto Imports
Commerce Secretary Wilbur Ross has submitted his recommendations to Trump, the department said in a statement on Sunday in Washington, without offering any insights into the findings. Trump has 90 days to decide whether to act on the findings. Commerce started the investigation in May under Section
- Bloomberg•2 hours ago
HNA Weighs $1 Billion Sale of Aircraft Maintenance Firm SR Technics
HNA’s 80 percent stake in SR Technics could be valued at $700 million to $1 billion, said the people, who asked not to be identified because the matter is private. As it seeks to trim one of China’s biggest debt piles, HNA is aiming to sell airport-cargo handler Swissport International as well as container-leasing
- The Canadian Press•4 minutes ago
Unicorns are real: Tech baffles Indonesian candidate
Indonesia's presidential candidates debated some of the most pressing issues facing the world's third-largest democracy: dilapidated infrastructure, struggling farmers, forest fires — and unicorns. When President Joko Widodo, who is seeking a second term, asked challenger Prabowo Subianto about
- Bloomberg•2 hours ago
Thailand's GDP Growth Exceeds Forecasts on Domestic Demand
Gross domestic product rose 3.7 percent from a year ago, up from a revised 3.2 percent in the third quarter, the National Economic and Social Development Council said on Monday. The median estimate of 23 economists in a Bloomberg survey was for expansion of 3.6 percent.
Reuters•2 hours agoU.S. agency submits auto tariff probe report to White House
Late on Sunday, a department spokeswoman said it would not disclose any details of the "Section 232" national security report submitted to Trump by Commerce Secretary Wilbur Ross. Trump has 90 days to decide whether to act upon the recommendations, which auto industry officials expect to include
- Bloomberg•2 hours ago
Pig Disease Found in Dumplings Triggers Slump in Chinese Food Maker
A Chinese frozen-food producer has been hit by African swine fever. Sanquan Food Co., based in Henan province, slumped the most since October after a media report said African swine fever was found in some of the company’s pork dumplings. Volume in the first hour of trading Monday was quadruple the
- Bloomberg•2 hours ago
Specter of Idiosyncratic Risks Returns to Haunt Emerging Markets
South Africa, Nigeria, Thailand and Russia each gave money managers a reminder of how quickly local issues can flare up over the past week. A Bank of America Merrill Lynch survey of global fund managers showed that not only are developing-nation assets the most popular in the world, the trade has never
Reuters•2 hours agoDollar weakens as trade deal hopes buoy riskier assets; Aussie, kiwi firm
Both the United States and China reported progress in five days of negotiations in Beijing last week, although the White House said much work remains to be done to force changes in Chinese trade behaviour. "Trade is the big focus for the markets...with talks shifting from Beijing to Washington,
- Bloomberg•3 hours ago
Emerging Markets Retreat Amid Global Growth Concerns: EM Review
(Bloomberg) -- Emerging-market assets retreated last week amid lingering threats to global growth, even as reports suggested the U.S. and China had reached consensus on the main topics in their trade talks on Friday. Currencies posted their worst weekly slide since mid-December, while stocks deepened
- Bloomberg•3 hours ago
Japan Frets Over ‘Nightmare Scenario’ as Trump Meets Kim Again
Like the first time Trump met Kim in June, Japanese Prime Minister Shinzo Abe has found himself on the outside peering in before their second summit set for Feb. 27-28 in Hanoi. The meeting brings both the promise of a less-dangerous North Korea and the potential peril of a weak deal that leaves Japan
