• World shares tumble as US-China trade war renews uncertainty
    The Canadian Press

    World shares tumble as US-China trade war renews uncertainty

    TOKYO — Global shares fell Monday after the latest escalation in the U.S.-China trade war renewed uncertainties about global economies, as well as questions over what President Donald Trump might say next.France's CAC 40 shed nearly 0.1% to 5,322.21 in early trading, while Germany's DAX fell

  • Hong Kong Stocks Slump, Yuan Slides to 11-Year Low on Trade War
    Bloomberg

    Hong Kong Stocks Slump, Yuan Slides to 11-Year Low on Trade War

    (Bloomberg) -- Hong Kong stocks slumped and the yuan weakened to an 11-year low as concern over the U.S.-China trade war spurred risk-off sentiment.The Hang Seng Index dropped 2% at 3:45 p.m. in Hong Kong, after falling as much as 3.6%. Meat producer WH Group Ltd. and Cnooc Ltd. were among the worst

  • Oil Pares Losses As Trump Says China Wants to Resume Trade Talks
    Bloomberg

    Oil Pares Losses As Trump Says China Wants to Resume Trade Talks

    (Bloomberg) -- Oil pared losses after U.S. President Donald Trump said that China wanted to restart trade talks, potentially easing escalating tensions between the two countries.Futures in New York fell as much as 2.2% before Trump’s comments helped alleviate concern that a trade war with China could

  • UBS Says It’s Staying Long Gold as Price Now Destined for $1,600
    Bloomberg

    UBS Says It’s Staying Long Gold as Price Now Destined for $1,600

    (Bloomberg) -- Gold will extend its winning ways as the U.S.-China standoff harms growth, risking a deeper slowdown and inviting more central-bank easing, according to UBS Group AG, which jacked up price forecasts with a prediction the precious metal may hit $1,600 within three months.“The trade war

  • In Low-Yield World, 13% Can be Good Enough But 20% Insufficient
    Bloomberg

    In Low-Yield World, 13% Can be Good Enough But 20% Insufficient

    (Bloomberg) -- It was a tale of two African bond auctions: a Rwandan offer of 20-year debt at 13.25% was oversubscribed, while Ghana’s sale of similar-maturity notes at more than 20% flopped.For both nations, the sales represented their longest-maturity local-currency debt yet. Ghana placed 162.1 million

  • Stakes Were Higher in 2008 but It's ‘Way Weirder’ Trading Trump
    Bloomberg

    Stakes Were Higher in 2008 but It's ‘Way Weirder’ Trading Trump

    (Bloomberg) -- Donald Trump’s trying to win a trade war, so don’t talk to him about 600 points in the Dow Jones Industrial Average. But for traders coping with the price impact of his tirades, it’s all they want to talk about.Days like Friday are creating stress in the trenches. A decade ago, Max Gokhman

  • Stocks Swing, Bonds Climb Amid China Trade Salvos: Markets Wrap
    Bloomberg

    Stocks Swing, Bonds Climb Amid China Trade Salvos: Markets Wrap

    (Bloomberg) -- Shares in Europe pared a decline while U.S. equity-index futures swung higher after President Donald Trump said China was willing to resume trade talks, ratcheting down tension that roiled stocks globally since Friday. Treasuries advanced with gold, and the dollar edged higher.Tech and

  • Jokowi Picks Borneo for New Indonesia Capital
    Bloomberg

    Jokowi Picks Borneo for New Indonesia Capital

    (Bloomberg) -- Indonesia will build a new capital city on the island of Borneo, home to some of the world’s biggest coal reserves and orangutan habitats, as President Joko Widodo seeks to ease pressure on congested and sinking Jakarta.The new administrative headquarters will be located between North

  • G7 leaders struggle for breakthrough on economy, Iran
    The Canadian Press

    G7 leaders struggle for breakthrough on economy, Iran

    BIARRITZ, France — G-7 leaders are wrapping up a summit dominated by tensions over U.S. trade policies and a surprise visit by Iran's top diplomat.U.S. President Donald Trump and summit host French President Emmanuel Macron will finish off the three-day summit with a joint news conference Monday.But

  • Shell Sued by Australian Tax Office Over Browse Stake
    Bloomberg

    Shell Sued by Australian Tax Office Over Browse Stake

    (Bloomberg) -- Royal Dutch Shell Plc is appealing a decision by the Australian Taxation Office that has left the company with a bill estimated at A$755 million ($510 million), the Guardian reported.The ATO has been battling with Shell’s local subsidiary for six years regarding the tax treatment of its

  • Gold Driven Toward $1,600 as the Oldest Haven Shows Its Mettle
    Bloomberg

    Gold Driven Toward $1,600 as the Oldest Haven Shows Its Mettle

    (Bloomberg) -- Gold took a significant stride toward $1,600 an ounce as the U.S.-China trade war worsened, hurting the outlook for global growth and boosting demand for the traditional haven as risk assets suffered.Bullion futures rallied as much as 1.8% to $1,565 an ounce on the Comex, the highest since

  • Treasury Yields Sink to 3-Year Lows on ‘No-Limit’ Trade War Fear
    Bloomberg

    Treasury Yields Sink to 3-Year Lows on ‘No-Limit’ Trade War Fear

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Global bonds rallied anew Monday with 10-year Treasury yields sinking to a three-year low as a worsening U.S.-China trade war roiled global markets.Benchmark U.S. yields dropped below 1.5%

  • Lira’s Crash Stuns Japan’s Mom-and-Pop Investors Again
    Bloomberg

    Lira’s Crash Stuns Japan’s Mom-and-Pop Investors Again

    (Bloomberg) -- The Turkish lira plunged as much as 12% against the yen, forcing Japanese investors to liquidate positions in one of their favorite emerging-market trades for the second time this year.Much of the lira’s Monday sell-off happened about 7:20 a.m. in Tokyo, around when Japanese margin-trading

  • Apple’s $44 Billion Drop Shows Growing Cost of Reliance on China
    Bloomberg

    Apple’s $44 Billion Drop Shows Growing Cost of Reliance on China

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Apple Inc.’s reliance on China is looking increasingly like its biggest handicap.The world’s most influential consumer electronics company shed $44 billion of market value Friday after a

  • Bonds Rally in India as Government Avoids Large Fiscal Stimulus
    Bloomberg

    Bonds Rally in India as Government Avoids Large Fiscal Stimulus

    (Bloomberg) -- Sovereign bonds in India rose after the government desisted from providing a large fiscal boost to the economy, easing fears it may borrow more to fund the stimulus. The rupee weakened in line with emerging-market peers after the escalation in the Sino-American trade war.Stocks were little

  • The French Are Finally Doing Better Than the Germans
    Bloomberg

    The French Are Finally Doing Better Than the Germans

    (Bloomberg Opinion) -- We’ve become so gloomy about the euro zone that it’s easy to neglect the bright spots.After a very tough 2018 for President Emmanuel Macron, France, the second-largest economy in the monetary union, is faring much better than most experts would have assumed. Its economic model

  • The French Are Finally Doing Better Than the Germans
    Bloomberg

    The French Are Finally Doing Better Than the Germans

    (Bloomberg Opinion) -- We’ve become so gloomy about the euro zone that it’s easy to neglect the bright spots.After a very tough 2018 for President Emmanuel Macron, France, the second-largest economy in the monetary union, is faring much better than most experts would have assumed. Its economic model

  • China’s Companies Have Unseen Foreign Debt That’s Maturing Fast
    Bloomberg

    China’s Companies Have Unseen Foreign Debt That’s Maturing Fast

    (Bloomberg) -- The foreign debt built up by Chinese companies is about a third bigger than official data show, adding to the pressure on the country’s currency reserves as a wave of repayment obligations approaches in 2020.On top of the $2 trillion in liabilities to foreigners captured in official data

  • China Ramps Up Talk of Army Intervention Amid Hong Kong Violence
    Bloomberg

    China Ramps Up Talk of Army Intervention Amid Hong Kong Violence

    (Bloomberg) -- Chinese state media gave one of its strongest warnings yet of a possible military intervention in Hong Kong, even though analysts said such a move remained a last resort.The unsigned commentary from the official Xinhua News Agency on Sunday came after the 12th straight weekend of unrest

  • Sanders: Support coal country while combating climate change
    The Canadian Press

    Sanders: Support coal country while combating climate change

    LOUISVILLE, Ky. — Democratic presidential candidate Bernie Sanders has told voters in coal-producing Kentucky that it's possible to be a friend of coal miners and a believer in climate change and the need for cleaner energy sources to combat it.In blunt terms rarely heard in Kentucky's political

  • Thailand Aims to Be Southeast Asia’s Power-Trading Middleman
    Bloomberg

    Thailand Aims to Be Southeast Asia’s Power-Trading Middleman

    (Bloomberg) -- Thailand is jump starting a decades-old plan to create a Southeast Asia electricity super-grid, and wants to be the power-trading hub at the center of it.The nation is set to triple the amount of electricity from Laos that it resells to Malaysia, while encouraging infrastructure upgrades

  • Want a U.S. Recession? Try Trump’s China Divestment Plan
    Bloomberg

    Want a U.S. Recession? Try Trump’s China Divestment Plan

    (Bloomberg Opinion) -- Is President Donald Trump serious about forcing American companies out of China? His advisers talk like it.The president would have the authority for such a move, Treasury Secretary Steven Mnuchin and White House economic director Larry Kudlow said in television interviews while

  • Bloomberg

    Analysts Still See Citi's Stock Jump This Year as Start of Surge

    (Bloomberg) -- Citigroup Inc.’s stock performance has been the envy of the U.S. financial industry this year, gaining 19% in defiance of falling interest rates, heightened trade tensions and mounting concern that the global economy may stumble.Now, even after that advance and amid broader market turmoil

  • ‘Safe Haven’ Israel Became Hot Money Bait for Central Bank Chief
    Bloomberg

    ‘Safe Haven’ Israel Became Hot Money Bait for Central Bank Chief

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Israel’s economic transformation has turned it into an “emerging markets safe haven” that continued to absorb money from abroad despite maintaining near-zero interest rates, according to

  • Bloomberg

    Drought of IPOs in Hong Kong Coming to an End

    (Bloomberg) -- The summer IPO drought in Hong Kong is coming to an end.Shanghai Henlius Biotech Inc., a unit of billionaire Guo Guangchang’s Fosun group, started gauging investor demand Monday for a planned initial public offering, according to terms of the deal obtained by Bloomberg. The offering could