GLOBALMACR
- ECONOMY
The Most Important Number of the Week Is 359
(Bloomberg Opinion) — What seems lost in all the hand-wringing about whether the stock market is a bubble that is…
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Renaissance Investor Exodus Nears $15 Billion Despite 2021 Gains
(Bloomberg) — Many hedge fund managers would celebrate if they posted a 20% annual return, as Renaissance Technologies’ biggest fund…
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White House Weighs Support for Klobuchar’s Tech Antitrust Bill
(Bloomberg) — The Biden administration is exploring ways to rein in the nation’s biggest technology companies, possibly through bipartisan legislation…
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How Safe Assets Became Investors’ Biggest Risk
(Bloomberg Opinion) — Markets are weird right now. The value of risk-free assets has gone all out of whack, and…
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World’s Biggest Chicken Exporter Taps Banks for $1.4 Billion Share Sale
(Bloomberg) — BRF SA, the world’s biggest chicken exporter, has picked a syndicate of 11 banks to handle a share…
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China Property Bond Losses Pass $82 Billion: Evergrande Update
(Bloomberg) — China’s debt-saddled property developers have seen their offshore bonds lose $82 billion in value, and more losses and…
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PBOC Seen Cutting Rates Further, Lowering RRR to Aid Economy
(Bloomberg) — China’s cut of two key policy interest rates opens the door to more monetary easing actions ahead, even…
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China’s Got Problems, But Inflation Ain’t One
China appears determined to quash — rather than live with — Covid-19. An overly muscular economic response, too, may do as much harm…
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Wall Street’s Shift South Runs Into Texas, Florida Culture Wars
(Bloomberg) — Wall Street’s trip down south to Texas and Florida — where taxes are lower, regulators friendlier, real estate…
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Elliott Co-CEO Says Rising Rates Threaten Equities Bull Run
(Bloomberg) — The co-head of activist investor Elliott Investment Management said rising interest rates and inflation threaten to put an…
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Ex-Credit Suisse Trader Lemssouguer Plans $1 Billion Fund Launch
(Bloomberg) — Hamza Lemssouguer, a former top debt trader at Credit Suisse Group AG, is raising hundreds of millions of…
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U.K. Services Prices Jump at Record Pace on Supply-Chain Woes
(Bloomberg) — The prices paid by customers in the U.K. services sector rose at the fastest pace on record last…
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China’s Biggest Crypto Platform Knows There’s No Going Home
(Bloomberg) — Hours before China issued its sweeping ultimatum against cryptocurrency trading, the industry’s last remaining giant player had already…
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Global Energy Crisis Is the First of Many in the Clean-Power Era
(Bloomberg) — The world is living through the first major energy crisis of the clean-power transition. It won’t be the…
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The Left-for-Dead Hospital That Got a Second Chance for $1
(Bloomberg Businessweek) — Word of Mercy Hospital’s demise began to circulate just after 9 a.m. on July 29, 2020. The…
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The Real Cost of U.S. Debt Is Nearer the Floor Than the Ceiling
(Bloomberg) — U.S. politicians are locked in a huge fight over something that more and more people in the financial…
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The Federal Reserve Confronts an Almost Impossible Task
(Bloomberg Opinion) — The Federal Reserve is planning to tighten credit even as forecasts call for U.S. economic growth to…
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Jamie Dimon Defends His Pay in Axios Sitdown After New Award
(Bloomberg) — JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon, granting an interview to Axios’s HBO program to discuss…
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Tesla Delivered 241,300 Cars in Quarter, Topping Estimates
(Bloomberg) — Tesla Inc. delivered a better-than-expected 241,300 cars worldwide in the third quarter, a record for the electric-car maker…
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Clarida Traded Into Stocks on Eve of Powell Pandemic Statement
(Bloomberg) — Federal Reserve Vice Chair Richard Clarida traded between $1 million and $5 million out of a bond fund…
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Japan’s Kishida Revamps Ruling Party as He Prepares for Election
(Bloomberg) — Incoming Japanese Prime Minister Fumio Kishida was set to name top ruling party executives, including a rival known…
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Sri Lanka Central Bank to Outline Plan for Economic Stability
(Bloomberg) — Sri Lanka’s central bank will Friday unveil a road map to restore economic stability in the island nation,…
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Jeff Bezos Is on the Wrong Indian Magazine Cover
(Bloomberg Opinion) — The world’s second-richest man is getting an almost-daily reminder of how tough it will be to win in…
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Fed’s Daly Says Trading Controversy Shows Need for Rule Changes
(Bloomberg) — The 2020 trading activity that led to the resignation earlier this week of two Federal Reserve bank presidents…
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Infrastructure Boom Persists Despite Commodity Rally, CEO Says
(Bloomberg) — Demand for infrastructure projects shows no sign of slowing, even in the face of high commodity prices and…
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Fitch Cuts Rating as Coupon Payment Looms: Evergrande Update
(Bloomberg) — Fitch Ratings has cut China Evergrande Group’s credit rating further to just one notch above default level, citing…
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Warren Cites Fear Over Another 2008 Meltdown in Opposing Powell
(Bloomberg) — Democratic Senator Elizabeth Warren said that she vehemently denounced Federal Reserve Chair Jerome Powell to his face as…
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Here Are the Contenders to Be Japan’s Next Prime Minister
(Bloomberg) — Japan’s ruling party picks a new leader Wednesday to replace outgoing Prime Minister Yoshihide Suga and guide the…
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A Battle for Influence Within the Fed Is Brewing
(Bloomberg Opinion) — While traders and policy makers preoccupy themselves with the question of Federal Reserve Chair Jerome Powell’s reappointment,…
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Trading Scandal That Rocked the Fed Offers Chance to Reshape It
The resignation of two Federal Reserve chiefs amid a stock-trading scandal means an unexpected number of top monetary-policy jobs are…
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The Country That Makes Breakfast for the World Is Plagued by Fire, Frost and Drought
(Bloomberg) — No country on Earth puts more breakfasts on kitchen tables than Brazil. The farms that dot the vast…
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HSBC Bets Big on China as Pressure Mounts in London
(Bloomberg Markets) — The interrogators lit into Noel Quinn, as if he were a latter-day Neville Chamberlain. Where were his…
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UAE Royals Said to Direct Tom Barrack’s Influence Campaign
(Bloomberg) — Just weeks after Donald Trump’s election in November 2016, American billionaire Tom Barrack received a royal welcome in…
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How Digital Cash Can Lift Gross National Happiness
(Bloomberg Opinion) — The tiny Himalayan kingdom of Bhutan, landlocked between the teeming multitudes of China and India, shot to global…
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Powell Says Jobs Still Short of Goal as Supply Woes Raise Prices
(Bloomberg) — Federal Reserve Chair Jerome Powell said supply bottlenecks have been longer lasting than anticipated, and he expects inflation…
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Europe’s Energy Crisis Is Coming for the Rest of the World, Too
(Bloomberg Businessweek) — This winter, the world will be fighting over something that’s invisible, yet rarely so vital—and in alarmingly…
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Volvo’s Polestar Valued at $20 Billion in Merger With Gores
(Bloomberg) — Polestar, the electric-carmaker controlled by Volvo Car AB and its owner Zhejiang Geely Holding Group Co., has agreed…
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Understanding How China’s HNA Group Rose and Fell
(Bloomberg) — China’s HNA Group Co. shot to prominence by spending more than $40 billion on acquisitions across six continents…
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DeFi Has Something to Learn From Napster
(Bloomberg Markets) — To understand the world of decentralized finance–or at least the hype surrounding it—it’s helpful to remember what…
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Alibaba Seeks to Exit Media Firm After Beijing’s Scrutiny
(Bloomberg) — Alibaba Group Holding Ltd. is seeking to sell its entire stake in a local television network after the…
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Beijing Expands Footprint in Hong Kong With New Departments
(Bloomberg) — China’s cabinet-level office overseeing Hong Kong has expanded by creating two departments to oversee propaganda and security affairs,…
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SPAC Kingpins Scrutinized by Elizabeth Warren Over ‘Misaligned Incentives’
(Bloomberg) — Elizabeth Warren and other Senate Democrats have set their crosshairs on some of the biggest names behind SPACs,…
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In Amazon’s Flagship Fulfillment Center, the Machines Run the Show
(Bloomberg Businessweek) — One recent morning, inside a cavernous Amazon.com Inc. fulfillment center outside Seattle, Evan Shobe positioned himself before…
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UBS Trader Sues Over Claim Extreme Stress Damaged Mental Health
(Bloomberg) — A UBS Group AG trader sued his employer over allegations the “toxic” London work culture and “punishing workload”…
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Roubini Says He’s ‘Dr. Realist’ by Warning of Global-Debt Trap
(Bloomberg) — Nouriel Roubini — renowned for foreseeing the mortgage collapse that helped produce the 2008 financial crisis — said…
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Google to Buy Manhattan’s St. John’s Terminal for $2.1 Billion
(Bloomberg) — Google is cementing its status in New York City, and a commitment to in-person work, with plans to…
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Tunisia President Says Delay in New Government Calculated
Tunisia’s president said he had introduced new rules for the current transitional period and that his delay in forming a…
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Fauci Says Children Could Get Shots by Halloween: Virus Update
(Bloomberg) — The U.S. death toll from the Covid-19 pandemic surpassed the number of fatalities in the 1918 influenza pandemic,…
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FX Traders Fall Out of Love With Loonie as Canada Votes
(Bloomberg) — Foreign-exchange traders are feeling a bit on edge about Canada. While voters render their verdict on Prime Minister…
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Companies Should Hurry Up and Require Vaccines
(Bloomberg Opinion) — It’s been less than two weeks since President Joe Biden said the federal government would throw its…
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