Bloomberg Chinese Premier Li Keqiang will travel to Tokyo for his country’s first joint summit with Japan and South Korea since 2015, the clearest sign yet of improving ties between the three neighbours. The meeting was announced by China and Japan, as Japanese Foreign Minister Taro Kono concluded a two-day visit aimed at repairing his country’s strained relationship with China. ...
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German SPD presses Merkel for trade-off to seal new alliance
Bloomberg Germany’s Social Democratic leader said he needs concessions from Chancellor Angela Merkel to sell party members on staying in her government, raising the stakes as negotiators seek to finish a coalition pact within a week. Party leaders aren’t just discussing SPD policy demands on labor, health care and migration as they seek to end the political deadlock in Europe’s ...
Read More »Finnish president wins landslide re-election
Bloomberg Sauli Niinisto was re-elected as Finland’s president without recourse to a runoff — a first since the post has been settled by popular vote. Niinisto won a second term by a landslide, receiving the backing of roughly 63 percent of eligible voters and more than half of the ballots cast in every area of the 100-year-old nation. “Finland is ...
Read More »Cypriots to return to ballot box next month
Bloomberg Cypriots will return to the ballot box on February 4 to choose a leader who can oversee the Mediterranean island’s economic recovery nearly six years after the country came close to financial collapse. Incumbent President Nicos Anastasiades, 71, will face Stavros Malas in the runoff after taking 35.5 percent of the vote compared with 30.3 percent for Malas, an ...
Read More »Crypto trading needs a new model that’s not centralized
Last week, before news broke about the hacking of Japanese cryptocurrency exchange Coincheck Inc., I conducted a little Twitter poll. The results were enlightening, and somewhat disheartening. At the end of last week, someone stole 523 million NEM coins, worth around $500 million, from Coincheck. It took about eight hours for the exchange to even notice that its wallet had ...
Read More »Hong Kong’s London love affair
Brexit’s pending arrival has some companies pulling out. Hong Kong investors are going the other way. With the purchase of London’s iconic Cheesegrater building and the city’s Walkie Talkie skyscraper, investors from Hong Kong were the single biggest buyers of office property last year, accounting for 44 percent of total funds spent. It’s not just the weaker pound, but also ...
Read More »Whatever happens in Macau, stays in Macau
What a difference a few time zones make. Shares in Wynn Resorts Ltd. fell 10.1 percent in the US on Friday after the Wall Street Journal reported that dozens of former employees had alleged sexual misconduct by the group’s founder and Chief Executive Officer Steve Wynn. Investors in Hong Kong were far less concerned. Stock in Wynn Macau Ltd. was ...
Read More »Euro’s surprises may just be getting started
The euro is on the move, due to positive fundamental and technical reasons. And there is likely still more upside ahead — potentially a lot more. The realities of a strong economy will put pressure on the European Central Bank’s president, Mario Draghi, to start mapping an exit strategy from ultra-accommodative measures before inflation becomes a problem. In 2017, the ...
Read More »The end of the ‘strong dollar’ policy, yes, again
The end of US leadership is on everyone’s lips. Today’s installment is the Treasury secretary’s endorsement of a weaker dollar. Not so fast. Despite the way the ideal of a ‘strong dollar’ has been thrown around in official rhetoric the last couple of decades, the reality is that Treasury secretaries of both political colors have dialed it up and dialed ...
Read More »Starbucks falls out of step with the restaurant industry
It would be an overstatement to say 2017 was a bad year for Starbucks Corp. But the coffee giant did start to look a bit less invincible. It posted its slowest same-store sales growth since the Great Recession. It disappointed investors in November when it offered a lower long-term earnings outlook. If that had you worried about Starbucks, then the ...
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