Bloomberg China’s dominance of global trade provides a path to increase its currency’s share in global central bank reserves even if it retains tight capital controls, but Beijing will need to maintain large dollar reserves for that to happen, according to new research. While the yuan isn’t on course to displace the dollar as the world’s dominant currency, it ...

Bloomberg David Russell, a senior Morgan Stanley trading executive, who helped lead the firm’s equities business to the top of the pack on Wall Street, is leaving the firm. Russell, who joined the bank in 1990 and has been co-head of the unit since 2018, will retire at the end of the year, according to an internal memo. His fellow ...

  Bloomberg Stocks and US futures were mixed on Tuesday amid caution in global markets ahead of the Federal Reserve interest-rate hike. European energy and mining stocks rallied with oil and metals, while retailers and banks fell after disappointing reports from Walmart Inc and UBS Group AG. The Stoxx 600 fluctuated as S&P 500 and Nasdaq 100 futures slipped. Stocks ...

  Bloomberg Bitcoin sank to a one-week low, buffeted by investor skittishness ahead of a looming Federal Reserve interest-rate hike and amid harsher regulatory scrutiny of the cryptocurrency sector. The largest token dropped as much as 5.9% on Tuesday and was trading at around $21,100 in London. The MVIS CryptoCompare Digital Assets 100 gauge shed more than 4%. Equity markets ...

Bloomberg European natural gas prices rose for a fourth consecutive session, with little clarity on future flows via a major Russian pipeline. While the Nord Stream pipeline is sending gas to Germany at a consistent rate of 40% of capacity following the end of maintenance on July 21, Russian President Vladimir Putin warned that this could decline to 20% if ...

Bloomberg Ryanair Holdings Plc said passengers remain cautious about booking, clouding its prospects beyond a summer travel boom in which it’s suffering less disruption than many of its rivals. Europe’s largest discount airline posted a profit for the first quarter through June that beat analyst estimates, and is sticking with plans to lift capacity beyond pre-Covid levels even as other ...

  Bloomberg Nearly 2,500 members of a union that represents three Boeing Co defense locations in the St Louis area voted to reject the company’s contract offer and plan to strike starting on August 1. “We cannot accept a contract that is not fair and equitable, as this company continues to make billions of dollars each year off the backs ...

Bloomberg Rising prices in the US are starting to weigh on consumer spending. Two-thirds of US consumers say they are planning to reduce spending over the next six months as a result of inflation, according to a recent survey of roughly 2,000 people conducted this month by Morgan Stanley. A similar percentage identify inflation as a top concern. The number ...

  Bloomberg Hong Kong will require travellers to the city to fill out an electronic health declaration form before boarding a flight, no longer allowing them to do the paperwork after landing, in an effort to make the process more efficient. The new system will begin from July 28 on a trial basis, the government said in a statement. In ...

  Bloomberg Investors looking to sell stakes in Shein are evaluating bids at discounts of about 30% to its $100 billion valuation in April, according to people familiar with the matter, amid concern about the Chinese fast-fashion giant’s slowing growth. While some current shareholders in the private company are considering cashing out ahead of a future initial public offering, the ...