In his testimony to Congress, Chairman Jerome Powell confirmed that the Federal Reserve has undertaken a dramatic policy pivot, opening the door even wider for other central banks to also adopt more dovish stances. The shift increases the risk that many on Wall Street could slip back into the comforting belief that renewed central bank support is sufficient to ensure ...

Bloomberg It’s hard to blame China’s biggest tech companies for being just a little envious of Bilibili Inc. The purveyor of animated videos, comics and mobile games like Sony Corp.’s Fate/Grand Order has an eye-watering 93 million monthly active users whose average age is 21. Bililbili’s American depositary receipts have surged 73 percent since its initial public offering in March ...

Bloomberg Technology companies like Huawei Technologies Co. and Samsung Electronics Co. think the way to take on a stagnating smartphone market is to build devices that fold in half. Nokia has a different idea — make a phone with five cameras on the back. HMD Global Oy, which produces consumer products under the Nokia name, showed off the Nokia 9 ...

Bloomberg Scientists in Dubai are developing crops like quinoa that can thrive in the salty soils intruding into the world’s croplands. Winning over enough people to eat them is proving a greater challenge. At an experimental farm within sight of the world’s tallest skyscraper, researchers at the International Center for Biosaline Agriculture (ICBA) are trying to help farmers in the ...

BARCELONA / Emirates Business At MWC Barcelona 2019, Huawei Consumer Business Group (BG) received an award from the event organiser GSMA. The Huawei Mate 20 Pro was named the “Best Smartphone” in recognition of its powerful performance, outstanding camera system, long battery life, innovative charging solutions and striking design. This coveted accolade serves as a testament to Huawei’s leading technologies ...

Bloomberg Barclays Plc has emerged as the go-to bank for the world’s largest meat supplier after scandals at the company pushed Wall Street to the sidelines. JBS SA and its subsidiaries have sold at least four overseas bond deals totaling $2.75 billion since 2017, when the Brazilian powerhouse’s owners became embroiled in allegations of corruption. Barclays underwrote all of them. ...

Bloomberg Wells Fargo & Co. boosted an estimate for potential legal losses by $500 million while disclosing that it’s in early talks to resolve another round of probes into sales abuses at its branches. The company said it might have to spend as much as $2.7 billion more than what it set aside by the end of December to resolve ...

Bloomberg Mitsubishi UFJ Financial Group Inc. agreed to buy DZ Bank’s aviation finance division in one of its biggest acquisitions since it was created in 2005. The assets MUFG bought from Germany’s second-largest bank, held by its subsidiary DVB Bank, include a loan portfolio of 5.6 billion euros ($6.4 billion) as well as the unit’s employees and “parts of the ...

Bloomberg South Korea’s central bank left its key interest rate unchanged as the outlook for Asia’s fourth-largest economy weakens amid falling exports, soft jobs growth and waning inflation. The Bank of Korea kept the seven-day repurchase rate at 1.75 percent, as forecast by all 26 analysts surveyed by Bloomberg. Most economists expect the BOK to leave borrowing costs where they ...

Bloomberg JPMorgan Chase & Co. is considering setting up a private bank in China as new regulations give foreign firms a better chance to compete with local players in the world’s second-biggest pool of wealthy people. The New York-based bank is doing a “feasibility study” on China’s onshore wealth business as part of broader plans to expand in the nation, ...