Bloomberg US stocks delivered the best quarterly run in almost five years, luring retail investors back into the longest bull market on record just as Wall Street started sounding the alarms. Individual investors drew down cash balances at brokerage accounts to record lows as the S&P 500 surged 7.2 percent in the three months last week. Meanwhile, big banks from ...

Bloomberg With little prospect of a restart for US-China trade talks, JPMorgan Chase & Co. now expects an escalation in tensions that will see higher American tariffs on all Chinese imports, sending the yuan sliding to its weakest against the dollar in more than a decade. “JPMorgan has adopted a new baseline that assumes a US-China endgame involving 25 percent ...

Bloomberg Two gauges of activity in China’s manufacturing sector worsened in September, reflecting the nation’s economic slowdown and the fallout from the trade war with the US. The official manufacturing purchasing managers index (PMI) stood at 50.8 in September versus 51.3 in August, lower than the median estimate of 51.2 in a Bloomberg survey of economists. The Caixin manufacturing PMI, ...

Bloomberg A VTB Capital-led consortium has offered to match ArcelorMittal’s 420 billion rupee ($5.8 billion) bid for Essar Steel India Ltd., heating up the long drawn battle for the biggest steel mill being sold under India’s new bankruptcy law. Numetal Ltd., the consortium led by VTB, is willing to revise its earlier bid of 370 billion rupees for the 10 ...

Bloomberg East Japan Railway Co., which operates major rail lines in the Japanese capital, planned to suspend all train services in the Tokyo area on Sunday in preparation for Typhoon Trami, which is hitting the southwest of the country. Kansai International Airport, which serves the greater Osaka area in western Japan, closed two runways from 11 am on Sunday through ...

Bloomberg India’s monsoon, which accounts for more than 70 percent of annual precipitation, missed a forecast for normal rainfall for a second year. Showers totalled 804 millimeters — or about 91 percent of the 50-year average — in the June to September period, data from the India Meteorological Department showed. The bureau had maintained a forecast of 97 percent in ...

Bloomberg An indie Taiwanese hacker said he will not proceed with a plan to take down Mark Zuckerberg’s Facebook page and broadcast it live on Sunday. Self-professed bug bounty-hunter Chang Chi-yuan, who ferrets out software flaws in return for cash, said on Facebook this week that he would live-stream an endeavour to delete the billionaire’s account at 6 pm local ...

Bloomberg A run-in with the US Securities and Exchange Commission may prove to be the recipe for reform that corporate governance experts have said Tesla Inc.’s board needed years ago. The electric-car maker has been forced to find an independent chairman to replace Elon Musk as part of a $40 million accord with the SEC to settle fraud charges related ...

Bloomberg Google Chief Executive Officer Sundar Pichai, whose company drew the ire of senators for failing to send a top executive to a hearing earlier this month, has agreed to appear at another session on Capitol Hill. Pichai had a round of visits in Washington on Thursday and Friday, meeting with lawmakers and the White House’s top economic adviser. “This ...

Bloomberg Foreign buyers face higher taxes on their purchase of homes in the UK as Prime Minister Theresa May starts unveiling policy plans before her Conservative party conference. The government said it will launch a consultation to increase stamp duty on individuals and companies not paying tax in the UK Ministers are considering a rate ranging from 1 percent to ...