Bloomberg China has the strength and patience to withstand the trade war, and will fight to the end if the US administration persists with it, China’s state-run People’s Daily said in an editorial on Saturday. The US must drop all tariffs imposed on China if it wants to negotiate on trade, and only an equal dia- logue can resolve the …

Bloomberg Bitcoin breached $10,000 for the first time in about 15 months, recouping more than half of the parabolic increase that introduced mainstream investors to the digital asset before the bursting of the cryptocurrency bubble. “The bounce back of Bitcoin has been fairly extraordinary,” said Geo-rge McDonaugh, chief executive and co-founder of London-based block-chain and cryptocurrency investment firm KR1 Plc. …

Bloomberg Call it the trifecta that gave rocket fuel to the gold market: Powell, positioning and politics. Gold ended the week trading near $1,400 and recorded bigg-est weekly gain in three years. It was Jerome Powell’s signal that Federal Reserve is moving closer to lowering interest rates and a brewing conflict between Iran and the US that lit a spark …

Dubai / Emirates Business Damac Properties announced the launch of its new project, ‘Zada’, in Dubai’s Business Bay area. Priced at AED 699,999, the exquisitely designed one-bedroom apartments offer views of the iconic Dubai Canal. The official launch will take place on June 29, and Damac is offering prospective buyers a chance to pay for the property in monthly instalments …

Bloomberg Walmart Inc came to dominate retailing through its mastery of logistics—the complicated choreography of getting goods from farm or factory to the consumer. But even the world’s biggest store doesn’t make money selling its wares online in the US, largely due to runaway shipping costs. So Walmart is turning to robots. Earlier this month, Walmart’s US chief Greg Foran …

Bloomberg Waymo LLC agreed to explore driverless services with Renault SA, Nissan Motor Co and Mitsubishi Motors Corp, pairing a leader in self-driving technology with the world’s largest automotive alliance. The three carmakers and Alphabet Inc’s autonomous-vehicle unit will study market opportunities and research legal and safety issues related to driverless transportation services in France and Japan, the companies said …

Bloomberg Rolls-Royce Holdings Plc’s Warren East said he’s keen to lead the engine maker into a new age of electrically powered aircraft after spending years focussed on costs cuts and restructuring. The CEO, recruited by Rolls from semiconductor developer ARM Holdings Plc, said his enthusiasm for leading the UK engineering giant is undimmed by the saga of firings, disposals and …

Bloomberg Goldman Sachs Group Inc. and Morgan Stanley improved on last year’s poor results in the first round of the latest Federal Reserve stress tests, a sign they may have more flexibility to boost payouts to shareholders. In figures posted by the Fed, the pair didn’t come as close to breaching regulatory minimums as they did last year, offering hope …

Bloomberg While global banks have been pouring money into information technology — to the tune of $1 trillion over three years — only a handful appear to be fully committed to a digital transformation and are therefore reaping the benefits, according to an Accenture Plc study. Just 19 of the 161 largest retail and commercial banks that the consulting firm …

Bloomberg The Bank of Japan (BOJ) kept monetary policy unchanged, just hours after the Federal Reserve became the latest central bank to signal a willingness to cut interest rates in the face of rising threats to global growth. The BOJ maintained its interest rates and asset purchases, it said in a statement. All 50 economists surveyed by Bloomberg had predicted …