Nov.01 — President Donald Trump criticized the counting of late-arriving ballots as “terrible” and said his campaign intended to fight it. He spoke Sunday in Charlotte, North Carolina. (Excerpt) …read more […]
Nov.01 — Jerome Haegeli, chief economist at Swiss Re Group, discusses how the presidential election outcome would affect the U.S. government’s policies and the global economy. He also discusses European Central Bank policy with Rishaad Salamat and Haslinda Amin on “Bloomberg Markets: Asia.” …read more […]
Nidec Corp will spend 200 billion yen ($1.9 billion) on a new plant in Serbia to build motors for electric vehicles as it seeks to win more business from automakers turning away from internal combustion engines, the Nikkei newspaper reported. Nidec founder Shigenobu Nagamori has said he wants a 35% market share for energy-saving electric motor technology know as e-axle or e-drive by 2030, which is expected to have grown ten times by then to as much as $30 billion a year. The technology is expected to make electric vehicles more affordable and help cut carbon dioxide emissions …read more […]
Nov.01 — William Huang, chairman and chief executive officer of Chinese data center company GDS Holdings Ltd., shares his growth strategy. GDS opened slightly above its offer price after raising $1.67 billion in its Hong Kong secondary listing, becoming the latest U.S.-traded Chinese company to sell shares in the financial hub amid rising Sino-U.S. tensions. Huang speaks on “Bloomberg Markets: Asia.” …read more […]
Nov.01 — Kim Hoggard, non-resident fellow at the United States Studies Centre and a former government official who has worked for Presidents Ronald Reagan and George H.W. Bush, discusses the election. Democratic nominee Joe Biden leads President Donald Trump in a series of polls released Sunday, remaining ahead nationally and in battleground states, although some state races remain extremely close. Hoggard speaks on “Bloomberg Markets: Asia.” …read more […]
Nov.01 — Wang Tao, chief China economist at UBS, discusses China’s PMI data for October and her outlook for the economy. She speaks on “Bloomberg Markets: China Open.” …read more […]
(Bloomberg) — After helping more than a million brick-and-mortar Chinese retailers modernize their operations, Alibaba Group Holding Ltd. has now set its sights on a new target: the country’s outdated factories.China’s largest corporation unveiled in September its first smart factory, a secret experiment that Alibaba’s been conducting for three years on the outskirts of its hometown of Hangzhou. The three-story facility known as Xunxi — translated literally as “fast rhino” — is the company’s attempt at leveraging its consumer data and technologies to help the multi-trillion-dollar manufacturing arena improving efficiency and meet rising consumer expectations.Read more: Alibaba’s Newest Business: Modernizing …read more […]
Nov.01 — The final stretch of the U.S. election has seen some dramatic twists, a hospitalized president, a resurgent pandemic and the death of a Supreme Court justice. None of it seemed to have altered the course that had been set months ago. Democratic nominee Joe Biden continues to lead President Donald Trump in polls released Sunday, though some state races seem extremely close. Bloomberg’s Jodi Schneider reports on “Bloomberg Daybreak: Asia.” …read more […]
Nov.01 — Democratic presidential nominee Joe Biden warns that he wouldn’t let President Donald Trump declare victory in Tuesday’s election before the results are clear. He also condemned Trump supporters’ efforts to intimidate Biden backers, including a Friday incident on a Texas highway and a partial shutdown of New Jersey’s Garden State Parkway earlier Sunday. He speaks during a campaign stop in Philadelphia. (Excerpts) …read more […]
(Bloomberg) — Investors in the U.S. equity market remained on edge before a week laden with political and economic risk.Futures on the S&P 500 fell in Asia trading, extending a loss that reached more than 5% over the previous five sessions, as traders awaited the outcome of the U.S. presidential election on Tuesday and a Federal Reserve decision on Thursday.After the worst week since March, investors braced ahead of a week loaded with events with the potential to move financial markets. The Federal Reserve will deliver a policy decision Thursday before the October jobs report Friday. Earnings will continue to …read more […]
(Bloomberg Opinion) — That October proved tough for stocks won’t come as a surprise to seasoned investors who still remember some quite challenging months in the past. What is notable this time around, however, is that investments meant to mitigate risks and offset some of the declines from equities also lost money. Understanding why illustrates some of the difficult challenges facing investors in a market greatly distorted by prolonged central bank intervention, and now dealing with weakening economic fundamentals and delayed fiscal policy support.Let us start with the numbers. For a second consecutive month, the S&P 500 Index declined, dropping …read more […]
(Bloomberg) — Long before he ran the world’s best-performing hedge fund, Qian Yongqiang chaired China’s biggest online dating service.The Yale graduate would spend hours tracking down attractive users with suspicious profiles, sifting through accounts and deleting thousands of scammers to improve the site’s authenticity and ensure its success.Now he’s betting that same attention to detail and strong returns will help turn his Singaporean firm into a wealth management giant. Between January and September, QQQ Capital Management posted gains of 275%, making it the top hedge fund in the world, according to Eurekahedge data. QQQ says assets under management rose to …read more […]
(Bloomberg) — Having a home government with deep — and open — pockets is emerging as key in terms of whether an airline will make it through the coronavirus pandemic.Carriers in jurisdictions where there is scant support from up high are most likely to go bust, according to an analysis by Bloomberg News. Using the Z-score method developed by Edward Altman in the 1960s to predict bankruptcies, Bloomberg sifted through available data on listed commercial airlines to identify the ones most prone to financial strife.Versus the same analysis done in March, when the virus was just starting to spread beyond …read more […]
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