Asset managers face “tough industry conditions with flows difficult to come by and fees under pressure,” says Standard Life Aberdeen Plc Chief Executive Officer Keith Skeoch. He’s not wrong; but competitors are weathering the ongoing storm far, far better than his firm is this year. SLA’s performance this year is dismal, with its shares languishing at their lowest level since ...

It looks as if the Trump administration didn’t want to be accused of ruining Christmas. The US Trade Representative’s office said that it would delay until December 15 the imposition of tariffs on certain goods coming to the US from China. The government said products such as cellphones, laptops, as well as some toys, clothes and shoes would be spared ...

Bloomberg Germany’s economy shrank in the second quarter, ramping up pressure on Chancellor Angela Merkel to unleash fiscal stimulus as manufacturers reel from a US-China trade war. The latest report, paired with a protracted slump in business expectations, raises the risk that Europe’s largest economy is on the verge of falling into a recession. It would be the first in ...

Bloomberg A plan to build the world’s longest undersea rail tunnel has hit its first snag. Financing of 15 billion euros ($16.8 billion) was agreed this year for the tunnel to link Finland and Estonia. But the Baltic nation of 1.3 million people wants more details on that funding, the business plan behind the idea and Finland’s role before giving ...

Bloomberg UK wages rose at their fastest pace in 11 years in three months through June and employment climbed to a record high. The stronger-than-forecast figures from the Office for National Statistics suggest the labour market remains tight, meaning the Bank of England is unlikely to join the global rate-cutting trend, at least for now. However, unemployment rate rose as ...

Bloomberg American farmers already stung by President Donald Trump’s trade wars now face billions of dollars in potential losses as controversial data from the US government snuffs out a rally in corn. The Agriculture Department said farmers planted a bigger corn area than analysts estimated and pegged crop yields that also exceeded expectations, sparking the biggest rout in futures since ...

Bloomberg Facebook Inc. (FB) has been paying hundreds of outside contractors to transcribe clips of audio from users of its services, according to people with knowledge of the work. The work has rattled the contract employees, who are not told where the audio was recorded or how it was obtained — only to transcribe it, said the people, who requested anonymity ...

Bloomberg If you want to know what a large set of data points feels like, try carrying 500 tulips through the streets of the Netherlands. This was the life of 34-year-old British artist Anna Ridler, when she set out to build with her own two hands the most extensive dataset of tulips possible. While it sounds scientific, the project was ...

Bloomberg Close to 10,000 people gathered near a Cistercian abbey north of Paris in June, not for a religious festival, but to celebrate a Romanian automaker named Dacia. Eric Lanneau, a 57-year-old former plumber, attended the Renault SA brand’s annual picnic, which featured a performance by French pop star Jenifer. He bought a Dacia Duster in May, won over by ...

An ambitious project to build the longest undersea rail tunnel in the world between Helsinki and Tallinn is being held up by the Estonian government over worries about the plan and where the money is coming from. It should let the life-changing link go ahead, even if its Chinese funding looks suspicious. The project’s developer, Finest Bay Area Development Oy, ...