Bloomberg It’s been a big year for the companies that sell coffee, but not so much for the growers that supply them. That could start to change in 2019. Historically low prices for coffee beans in 2018 will likely reduce the incentive for farmers to expand supplies, said Rodrigo Costa, the US-based coffee director for Brazilian trading company Comexim. That …
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Canada Goose climbs after store opens in Beijing
Bloomberg Canada Goose Holdings Inc rose 6 percent in early trading before US markets opened after the company opened its flagship store in Beijing over the weekend. The store had been delayed since December 15 amid escalating tensions between Canada and China following the arrest of Huawei Technologies Co.’s chief financial officer in Vancouver. The luxury jacket maker is expanding …
Read More »Home price gains in 20 American cities slow
Bloomberg Home prices in 20 US cities slowed in October for a seventh consecutive month, extending the longest streak since 2014, a sign of waning demand amid higher mortgage rates and elevated property values. The 20-city index of property values increased 5 percent from a year earlier, after rising 5.2 percent in the prior month, S&P CoreLogic Case-Shiller data showed. …
Read More »Fed understands it needs to communicate better: El-Erian
Bloomberg The Federal Reserve realises that it can’t put its key policy tool, the federal funds rate, on autopilot, and that it needs to better communicate its policy decisions, said Mohamed El-Erian, Allianz SE’s chief economic adviser. “Even the Fed is understanding that it needs to communicate better,†El-Erian said in an interview on “Fox News Sunday.†It needs to …
Read More »Emerging markets at mercy of trade, Fed after a painful 2018
Bloomberg Until a trade dispute between the US and China is resolved, a single tweet on the matter will have the power to ignite rallies and sell-offs. The tweet in question this week is President Donald Trump’s declaration that “big progress†is being made towards a deal between the US and China, and it may spur gains across emerging markets. …
Read More »Trade protectionism will crimp global growth in 2019, says ECB
Bloomberg The European Central Bank expects the global economy to slow in 2019 as rising protectionism curbs trade growth. While economic activity has remained resilient around the world, it has also become more uneven and signs of moderating momentum are increasingly evident, according to the ECB’s latest economic bulletin. Global trade growth has weakened and uncertainties about future trade relations …
Read More »United Bank of India first to announce cash injection
Bloomberg United Bank of India became the first of the country’s ailing state-run banks to announce a new cash injection from the government, disclosing in a filing that it will receive 21.6 billion rupees ($308 million) to improve its capital ratios. The announcement sent the bank’s shares up as much as 14 percent, set for the biggest gain since October …
Read More »SNB disregards critics as franc keeps negative rates in play
Bloomberg Swiss National Bank (SNB) interest rates are stuck to the floor and 2019 could see criticism of the policy growing louder: The financial sector hates it and there’s trouble brewing in the real estate market. After nine years of economic growth and the eradication of deflation risks, the arguments are building for the SNB to call time on the …
Read More »Japan imports 26.5mn barrels of oil from UAE
TOKYO / WAM Japan has imported 26.528 million barrels of crude oil from the UAE in November 2018, data released on Sunday by the Agency for Natural Resources and Energy in Tokyo showed. This accounts for 28.3 percent of Japan’s total crude imports, the agency that belongs to the Ministry of Economy, Trade and Industry, reported. Japan’s total crude oil …
Read More »Treasuries may have to wait until new year for resolutions
Bloomberg Perhaps the best that can be said of a painful year across financial markets is that there’s room for improvement in 2019. It’s less clear exactly what might pull investor sentiment, and Treasury yields, off the current lows. Risk-averse trading in December — which is on track to be the worst month for US stocks since the 2008 crisis …
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