Bloomberg Tea exports from India, the world’s second-biggest producer, may shrivel this year as a bumper crop in Kenya raises the risk of oversupply. Shipments could drop by 8 million to 10 million kilograms in the year through March from a record of 256.57 million in 2017-18 as Kenya’s output is likely to rise by as much as 60 million ...

Bloomberg Zilingo Pte, a Singapore-based online fashion marketplace, raised $226 million to fund an expansion into the Philippines, Indonesia and Australia. Investors in the series D financing included Sequoia Capital, Temasek Holdings Pte, Burda Principal Investments, Sofina and EDBI, the company said on Tuesday without disclosing a valuation. The startup is valued at $970 million, according to people familiar with ...

Bloomberg Indonesia’s chicken shortage could worsen this year, driving further gains in poultry stocks, according to CGS-CIMB Sekuritas. The nation’s poultry association projects that the supply of chicks will drop to 3 billion in 2019 from 3.2 billion last year, after the government banned the use of antibiotics in chicken feed, analyst Patricia Gabriela wrote in a report. A shortage ...

Bloomberg Stocks across Europe and Asia advanced and US futures rose after news emerged of a tentative deal among American lawmakers to avert another government shutdown. Treasury yields climbed. Carmakers led the advance in the Stoxx Europe 600 Index, while contracts on the Dow, Nasdaq and S&P 500 all pointed to a firmer open. The dollar held on to most ...

Bloomberg Investors with $515 billion surveyed by Bank of America Merrill Lynch aren’t convinced by the new-year equity rally and prefer cash to stocks. Global equity allocations in February fell to the lowest level since September 2016, according to BofA, even as the MSCI All Country World Index is up almost 8 percent in 2019. That indicates a deep lack ...

Bloomberg Plus500 Ltd., sponsor of Spanish soccer team Atletico Madrid, plunged after the broker revealed how much it has cushioned the blow of new rules with profits from customers’ bad wagers. It also warned 2019 earnings will take a hit. The London-traded company recorded a $56 million trading gain by taking the other side of clients’ bets during the fourth ...

Bloomberg Deutsche Bank AG is paying some of the highest rates among large banks to raise debt this year, highlighting a key obstacle in the lender’s turnaround effort. Germany’s biggest bank this week sold $1.25 billion of three-year dollar bonds that pay 255 basis points over benchmark interest rates, according to a person familiar with the matter who asked not ...

Bloomberg Barclays Plc may unveil plans to pay out more money to shareholders to fend off criticism of its investment-banking performance — and continued pressure from activist Edward Bramson. That’s a growing view among several analysts ahead of the London-based bank’s earnings report on February 21. Returning surplus capital could be part of a “cohesive strategy to improve returns,” said ...

Bloomberg UBS Group AG reduced the 2018 bonus pool for its investment bankers in Asia by about 8 percent after a slump in equity offerings last quarter hurt fees, according to people familiar with the matter. Managing directors were the hardest hit, the people said, asking not to be identified because the information is confidential. More executive directors will get ...

Bloomberg The world’s lowest interest rate will be around for longer than previously anticipated, with economists forecasting that a dovish shift for central banks around the world will also affect Switzerland. Citing a delay in European Central Bank tightening, Zuercher Kantonalbank’s David Marmet pushed back his expectations for a 25 basis point increase in the Swiss National Bank’s deposit rate ...