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Bloomberg Hong Kong’s jobless rate rose for the first time since 2017 in July, led by weakness in the retail and restaurant industries as the government warned of further pressure on the city’s slumping economy in the months ahead. The seasonally adjusted unemployment rate rose to 2.9%, including a “relatively notable increase” in the food and beverage service sector, the ...

Bloomberg Japanese exports fell for an eighth straight month in July, weighed down by shipments of auto parts and semiconductors, as slowing economic growth and trade battles raise fears of a global recession. The value of shipments abroad dropped 1.6% in July from a year earlier, according to the finance ministry. Economists surveyed by Bloomberg had estimated a 2.3% drop. ...

Bloomberg Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Finance Minister Olaf Scholz suggested Germany could muster 50 billion euros ($55 billion) of extra spending in an economic crisis, putting a number on a possible fiscal stimulus for the first time. While Scholz signaled that action by Germany isn’t imminent, ...

Bloomberg President Donald Trump said Apple Inc. Chief Executive Officer Tim Cook voiced concerns about chief competitor Samsung Electronics getting an edge because its products, unlike Apple’s, won’t be subject to tariffs when imported by the US. Cook and Trump had dinner, while the president was at his golf club in Bedminster, New Jersey. Trump described the conversation to reporters ...

Bloomberg Slowing the pace of climate change in line with the Paris Agreement has clear economic benefits as global warming is increasingly seen as a risk to financial stability and the economy. Abiding by the Paris Agreement and limiting annual average temperature increases to 0.01 degree celsius reduces global income by 1.07% by 2100. That compares with a 7.22% hit ...

Bloomberg Support for free trade among Americans is on the rise, as backing for President Donald Trump — the self-described “Tariff Man” — dips to its lowest level in more than a year, an NBC-Wall Street Journal poll showed. Almost two-thirds — 64% — see free trade as good for the US, an all-time high for the survey series. Support ...

Bloomberg If the lament over a shrinking equity market has been momentarily drowned out in US by opening bells rung by red-hot debutantes, it’s only gotten louder on this side of Atlantic. Eighty-four companies have listed in Europe this year, the fewest in a decade by a mile, according to data compiled by Bloomberg. By deal value, it’s the lowest ...

ABU DHABI / WAM The UAE has carried out relief and development initiatives in challenging humanitarian situations in many regions around the world, a top official said on the occasion of World Humanitarian Day. Such humanitarian projects have supported victims of crises, conflicts and wars and contributed to improving their lives, Mohammed Haji Al Khouri, Director-General of Khalifa bin Zayed ...

ABU DHABI / WAM The United Arab Emirates has strongly condemned the terrorist attack that targeted a wedding in the Afghan capital, Kabul. The Ministry of Foreign Affairs and International Cooperation (MoFAIC) said in a statement that it condemns in the “strongest terms” the terrorist attack, and that the UAE reaffirms its support to the Afghan government as it confronts ...

Bloomberg Larry Kudlow pushed back on Sunday on the notion that the US economy is headed towards a recession, and said recent phone calls between US and Chinese trade negotiators had produced more “positive news.” Kudlow, the White House National Economic Council director, and Peter Navarro, President Donald Trump’s trade adviser, made multiple appearances on Sunday talk shows to discuss ...