Month: October 2020

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Oct.11 — President Donald Trump on Sunday pitched what he called his post-infection immunity to Covid-19 as an advantage over Democratic presidential nominee Joe Biden. Bloomberg’s Ros Krasny reports on “Bloomberg Daybreak: Australia.” …read more […]

(Bloomberg) — An expected surge in election-related volatility in the U.S. stock market is paving the way for Asian shares to make a run at besting their American peers.Since hitting an all-time low relative to the S&P 500 on Sept. 2, the MSCI Asia Pacific Index has outperformed the U.S. benchmark by almost five percentage points. That nascent trend is expected to persist at least through the November poll and potentially beyond, according to strategists.“There is a better than average chance that Asian stocks will outperform U.S. stocks over the course of the next month,” said Eoin Murray, head of …read more […]

(Bloomberg) — Libya took a major step toward reviving its battered oil industry by reopening its biggest field, presenting a new headache for OPEC+ as the alliance of major producers tries to curb global supplies.The National Oil Corp., Libya’s state energy company, lifted force majeure on the western deposit of Sharara and instructed its operator to resume production, according to a statement on Sunday. The field will initially pump 40,000 barrels of crude a day, before reaching its capacity of almost 300,000 barrels in 10 days, a person with knowledge of the situation said.That would roughly double Libya’s overall output …read more […]

(Bloomberg) — One Chinese app briefly gave the country’s internet users access to long-banned websites like Facebook Inc. and Google, setting off speculation about the future of Beijing’s censorship practices.The Tuber browser, backed by Chinese cybersecurity giant 360 Security Technology Inc., appeared to provide the nation’s 904 million online users the ability to legally visit overseas websites and browse foreign social media. Chinese users hailed their newfound ability to peruse content from Youtube videos to Instagram photos without an illegal virtual private network, or VPN.But the browser stopped functioning Saturday and disappeared from the mobile app store run by Huawei …read more […]

(Bloomberg) — Vanguard Group Inc. returned about $21 billion in managed assets to government clients in China as part of a global shift to focus on low-cost funds for individual investors, according to people familiar with the matter. BlackRock Inc. and Amundi SA are being considered to manage a portion of the funds returned by Vanguard.The assets include about $10 billion that Vanguard had managed for each of China’s State Administration of Foreign Exchange and the China Investment Corp. sovereign wealth fund, the people said, declining to be identified as the matter is private. More than $1 billion was returned …read more […]

Oct.11 — President Donald Trump and House Speaker Nancy Pelosi continue their war of words over a new stimulus package. Republicans and Democrats are blaming each other for the lack of progress. Bloomberg’s Kathleen Hays reports on “Bloomberg Daybreak: Asia.” …read more […]

(Bloomberg) — PG&E Corp. said it may need to cut power this week in parts of Northern California to reduce the chances of its equipment starting blazes as the risk of wildfires is expected to return to the state.California’s largest utility said it sees windy conditions developing by Wednesday that could require it to turn off power in mountainous areas north and south of San Francisco and in the Sierra Nevada foothills, according to a statement posted Sunday on the company’s website.PG&E has been resorting to power shutoffs to lesson the chance that its power lines spark a blaze after …read more […]

(Bloomberg) — Oil slipped a second day as operations in the Gulf of Mexico began to resume following Hurricane Delta, Libya stepped up plans to restart production and oil workers in Norway called off a strike.Futures in New York fell as much as 0.9%, after declining 1.4% on Friday. U.S. Gulf operators are beginning to restart production after the storm made landfall on Friday. Delta’s approach had seen about 92% of oil production and 62% of gas output shuttered.Libya took a major step toward reviving its battered oil industry by reopening its biggest field. The Sharara field will initially pump …read more […]

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(Bloomberg) — The offshore yuan fell in early trading after Chinese policy makers acted to restrain the currency’s strength by removing rules that made it expensive to bet against. Asian stock futures pointed to a mixed start for equities.The yuan was about 0.6% lower against the dollar. The Australian and New Zealand dollars also slipped as foreign exchange markets opened. The S&P 500 ended higher last week as some traders bet lawmakers are moving closer to reaching an agreement to provide more fiscal stimulus. Stock futures in Japan and Australia were flat.The daily currency fixing in China will be closely …read more […]

(Bloomberg) — The new coronavirus may remain infectious for weeks on banknotes, glass and other common surfaces, according to research by Australia’s top biosecurity laboratory that highlights risks from paper currency, touchscreen devices and grab handles and rails.Scientists at the Australian Centre for Disease Preparedness showed SARS-CoV-2 is “extremely robust,” surviving for 28 days on smooth surfaces such as glass found on mobile phone screens and plastic banknotes at room temperature, or 20 degrees Celsius (68 degrees Fahrenheit). That compares with 17 days survival for the flu virus.Virus survival declined to less than a day at 40 degrees Celsius on …read more […]

Journal Editorial Report: The week’s best and worst from Kim Strassel, Kyle Peterson and Dan Henninger. Image: Reuters/AFP via Getty Composite: Mark Kelly …read more […]

Journal Editorial Report: Did the vice president point a way forward for Trump? Image: Zak Bennett/AFP via Getty Images …read more […]

The deal would come as Triller seeks to capitalize on TikTok’s woes. U.S. President Donald Trump’s administration has ordered TikTok’s Chinese parent ByteDance to divest the app, citing concerns that the data of U.S. citizens could be accessible to China’s Communist Party government. TikTok has sued the U.S. government to stave off a ban from U.S. app stores while deal negotiations continue. …read more […]