Utilities are, by design, a bit of a snooze. We feel no excitement at the miracle of instantaneous light, television and coffee grinding, expecting these things simply to happen when we want them to — which, virtually all the time, they do. Similarly, investors own utilities for their steady dividends funded by all of us unthinking bill-payers. This mundane arrangement ...

When snack makers start to lament that Indians can’t afford to spend 5 rupees (7 cents) on biscuits, it’s time to stop arguing over how much of the nation’s slowdown is cyclical and what part is structural. Considering its glaring income, wealth and consumption inequalities, India is a surprisingly calm society. However, when purchasing power dries up to the extent ...

Bloomberg US stocks pared an advance as falling financial shares countered gains spurred by trade optimism. Treasuries rose and the dollar fell. The S&P 500 clung to a second day of gains after President Donald Trump struck a softer tone towards China at the Group of Seven summit. Declines by major banks weighed on the benchmark as the 10-year Treasury ...

Bloomberg Foreign investors may be lured back to Indian equities after the government scrapped a tax on overseas funds while rolling out measures to boost economic growth. Singapore-based Taurus Wealth Advisors Pte, for one, is adding exposure to Indian equities and funds on a tactical basis, according to Rainer Michael Preiss, a strategist at the company, citing government measures. “After ...

Bloomberg Germany’s central bank is buffing up its green credentials as part of an international effort to spur lenders to brace for the fallout from climate change. The Bundesbank is heading a review of central-bank strategies to support sustainable investments, and scrutinizing the dynamics of the quickly growing market. Together with its peers, it’s working on a handbook on the ...

Bloomberg European Central Bank (ECB) policy makers will need to muster a broad consensus in favour of more monetary stimulus in September to make it credible, Governing Council member Peter Kazimir said. While expectations among investors and economists are growing for a package of measures in September, there’s a risk of a split among officials on how comprehensive their response should ...

Bloomberg Goldman Sachs Group Inc. sought regulatory approval to buy a majority stake in its investment banking joint venture in China, following rivals including UBS Group AG and setting the stage for eventually gaining full control. Goldman has applied to boost its stake in Goldman Sachs Gao Hua Securities Co. to 51% from 33%, a spokesman said. Beijing Gao Hua ...

Bloomberg Societe Generale SA is cutting about 25 investment banking jobs in Frankfurt as part of a companywide redundancy programme. The cuts affect the leveraged finance team as well as staff working on mergers and acquisitions, people familiar with the matter said. The French lender also closed the desk dedicated to advising on deals in the chemicals industry and a ...

Bloomberg Five years after Mario Draghi turned the world of European banking upside down, lenders are considering breaking a last taboo: Negative interest rates for the masses. Banks have long tried to pass on the cost of negative rates to corporations and wealthy individuals, but they’ve shied away from making regular folks pay to have money in the bank. Yet ...

Bloomberg Premium shoemaker Cole Haan, currently owned by private equity, is preparing for an initial public offering, following robust sales and profit growth. “Our management team is confident in the opportunities we have created for the Cole Haan brand and our business globally,” Chief Executive Officer Jack Boys said in a statement. “Based on the momentum we have generated in ...