The Apple Fire in Southern California has burned over 23 square miles of dry brush and timber, forcing thousands to evacuate their homes. Meanwhile, fire crews are taking social distancing measures to limit the spread of the virus. Photo: Josh Edelson/AFP …read more […]
Spot gold was steady at $1,974.29 per ounce by 0508 GMT, after hitting a record high of $1,984.66 in early Asian trade. U.S. gold futures rose 0.3% to $1,992.20. First of all, rising infection rates are a real concern for the globe and a real support for gold prices. …read more […]
Stocks remain on the upside this Friday afternoon as investors continue to ride the rally in tech and also after mixed data. …read more […]
(Bloomberg Opinion) — Let’s get something clear upfront: Microsoft Corp.’s purchase of TikTok isn’t worth $50 billion. That’s my opinion. But then again, it’s not my money.(2) Some investors in its parent company, ByteDance Ltd., think it’s worth that much, according to a Reuters report last week. Good for them. We’ll soon find out its true value, and more importantly, that of Microsoft’s chief executive officer.After a weekend of speculation, the American software giant came out Monday morning, Beijing time, to confirm talks to buy the short-video sensation that boasts more than 100 million users in the U.S. alone.The opening …read more […]
A tech boost in late Thursday earnings have helped pave the way for a strong start this morning for the markets. …read more […]
As the final trading session of the week and month prepares to kick off, futures are turning to tech and data for direction …read more […]
The UK’s biggest bank saw a larger-than-expected drop in earnings as it feels the effects of the pandemic. …read more […]
(Bloomberg) — In a bid to salvage a deal for the U.S. operations of TikTok, Microsoft Corp. Chief Executive Officer Satya Nadella spoke with President Donald Trump by phone about how to secure the administration’s blessing to buy the wildly popular, but besieged, music video app.Microsoft in a blog post Sunday confirmed talks to buy TikTok’s operations in the U.S., as well as in Canada, Australia and New Zealand, and said it’s aiming to complete the deal no later than Sept. 15.The software giant’s public statement follows closed-door discussions with TikTok and Trump, who floated plans for an outright ban …read more […]
HSBC Holdings PLC posted a higher-than-expected 65% tumble in first-half pre-tax profit as the coronavirus pandemic and its impact on businesses forced the Asia-focused bank to boost its loan-loss provisions. Europe’s biggest bank by assets reported a pre-tax profit for the first six months this year of $4.32 billion, down from $12.41 billion in the same period a year earlier, according to its financial statement filed with the stock exchange on Monday. HSBC’s results reinforced the trend of lenders across the world increasing their buffers to absorb souring loans at a time when companies – from aviation …read more […]
(Bloomberg) — Apple Inc. removed more than 30,000 apps, 90% of them games, from its iPhone App Store in China on Saturday, Qimai Research Institute said.The crackdown, which began in June and escalated in July, ends the unofficial practice of allowing games to be published while awaiting approval from Beijing’s censors, which all titles that are paid or offer in-app purchases must obtain. The loophole existed only on the iPhone, as local Chinese Android vendors already adhered to the rule without exception. After the Saturday purge, there were about 179,000 games remaining in Apple’s China store, of which 160,000 were …read more […]
China’s factory activity expanded at the fastest pace in nearly a decade in July as domestic demand continued to improve after the coronavirus crisis, though export orders and employment remained weak, a private business survey showed on Monday. The Caixin survey is believed to focus more on smaller exporters than the larger official survey. …read more […]
Aug.02 — Kiersten Todt, managing director at the Cyber Readiness Institute and a former Obama administration official, discusses the prospects for music video app TikTok, which is owned by one of China’s largest tech companies, ByteDance Ltd. Microsoft Corp. Chief Executive Officer Satya Nadella spoke with President Donald Trump on Sunday to salvage the company’s effort to buy TikTok’s operations in the U.S. and several other countries. Todt speaks on “Bloomberg Markets: China Open.” …read more […]
Aug.02 — Eliza Lee. professor at the department of politics and public administration at Hong Kong University, talks about the government’s decision to delay a key Legislative Council election scheduled for September for one year. She speaks with Shery Ahn and Haidi Stroud-Watts on “Bloomberg Daybreak: Asia.” …read more […]
(Bloomberg) — Gold’s spot and futures prices opened the week by hitting records, with metal for immediate delivery closing in on $2,000 an ounce as the search for haven assets continued amid the coronavirus pandemic.Spot bullion surged 11% in July, the biggest monthly gain since 2012, as investors weighed a weaker dollar and record low U.S. real yields. Strategists are now considering alternatives to government debt, such as cash, credit, dividend shares and gold.The health crisis has prompted unprecedented amounts of stimulus being unleashed to shore up economies including lower rates, which are a boon for non-interest-yielding gold. Simmering geopolitical …read more […]
The company made the statement following a conversation between is CEO Satya Nadella and U.S. President Donald Trump. It said it would ensure that all private data of TikTok’s American users is transferred to and remains in the United States. …read more […]
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