Bloomberg US stocks gained amid signs of a better-than-expected start to the earnings season. The pound was little changed against the dollar before a vote on the UK’s government. The S&P 500 rose to within a whisker of its average price over the past 50 days, a level it hasn’t breached since early December. Financials buoyed major indexes as Goldman ...

Bloomberg Big investors who’ve soured on cryptocurrencies because of the industry’s billion-dollar theft problem will soon have a new way to trade that’s touted as a safer solution. By the end of the month, BitGo Inc’s customers will be able to buy or sell Bitcoin, Ether and other digital assets without the coins ever leaving cold storage — in other ...

Bloomberg Carlos Ghosn is on the verge of losing his final fingerhold on power within the world’s biggest car-making alliance, with Renault SA said to be laying plans to remove him as chairman and chief executive officer. Two months after Ghosn’s shock arrest for alleged financial crimes in Tokyo, the French carmaker’s board will probably meet in the coming days ...

Bloomberg A rare plot of land that’s zoned for a hotel near Singapore’s central business district has attracted a record bid as developers shift focus after last year’s property cooling measures. Midtown Development Pte, bid S$562.2 million ($415 million) for the site, the highest among eight offers received, the Urban Redevelopment Authority said. The land adjacent to Club Street, an ...

Bloomberg Du Zhenye outperformed his peers in China last year by selling nearly all his stock holdings and piling into bonds. He’s predicting 2019 will be similar for the market. “Bonds will be a sure bet,” said Du, who plans to buy short-dated debt issued by local government financing vehicles, as well as long-dated government and policy bank notes. Falling ...

Bloomberg More Xiaomi Corp shareholders are rushing for the exit. An undisclosed investor sold 231 million Class B shares at HK$9.45 apiece, according to people with knowledge of the matter, a 5.1 percent discount to Tuesday’s close. The placing follows the end of a six-month lockup last week that has allowed early shareholders to sell Xiaomi stock for the first ...

Bloomberg PT Bukalapak.com, an Indonesian e-commerce marketplace, is preparing to complete a new round of fundraising that includes $50 million from Mirae Asset-Naver Growth Fund, according to people familiar with the matter. The investment may be announced as soon as this week, said the people, asking not to be identified because the details aren’t yet public. They declined to comment ...

Bloomberg Aston Martin and Bentley Motors saw this crash coming — but it’s still going to sting. Speaking onstage at a conference in Detroit before and after the British Parliament rejected Prime Minister Theresa May’s Brexit deal, the chief executive officers of two companies synonymous with UK carmaking had been bracing for disaster. Both have been making arrangements to do ...

Bloomberg The Trump administration has ordered thousands of furloughed federal employees back to work without pay to inspect planes, issue tax refunds, monitor food safety and facilitate the sale of offshore oil drilling rights. The efforts in recent days illustrate how President Donald Trump is trying to limit the impact of the partial government shutdown and shield favoured industries as ...

Bloomberg The much-anticipated alliance announcement by Volkswagen AG and Ford Motor Co left investors feeling let down as it lacked a big-bucks plan to join forces on electric vehicles and self-driving cars. Wall Street was hoping for a blockbuster deal, such as the billions of dollars General Motors Co. landed for its self-driving unit from Honda and SoftBank Vision Fund ...