Bloomberg The scent of doom is returning to China’s local government bond market. S&P Global Ratings pulled the trigger on the first ever downgrade of a Chinese local-government financing vehicle, citing the city in eastern Jiangsu province’s high debt burden. Traders and analysts are uneasy as well, with 18 of 29 polled in a Bloomberg News survey saying they’d ...

  Bloomberg Jonathan Tepper, the founder of a London-based research firm who a year ago warned that Australia had one of the biggest housing bubbles in history, has attacked regulators for acting too late to cool the market as they ignored their own warning signs and were hostile to suggestions property was too expensive, according to the Weekend Australian. The ...

  Bloomberg Unilever Plc’s announcement that it’s looking at ending its dual nationality and basing itself in London or Rotterdam means Theresa May finds her Brexit strategy facing either a big endorsement or an early blow. Few companies have more day-to-day contact with the British people than Unilever. It estimates its products, from Marmite and Vaseline to Hellman’s mayonnaise, are ...

  Bloomberg The meeting between US President Donald Trump and Chinese President Xi Jinping this week is encouraging and sets the stage for the world’s two largest economies to strengthen ties, said Ford Chief Executive Officer Mark Fields. “When you have two leaders meet face to face, they become people to each other,” Fields said in an interview with Bloomberg ...

  Bloomberg Altice NV and its partners are exploring a sale of about 20 percent of their US cable-TV business in an initial public offering this quarter, as billionaire Patrick Drahi takes advantage of historically strong equity markets to raise cash for expansion, according to people familiar with the matter. Drahi’s Altice may use the proceeds from the listing of ...

  Bloomberg Deutsche Bank AG Chief Executive Officer John Cryan said he plans to focus on restoring revenue growth after the lender raised 8 billion euros ($8.5 billion) from shareholders to bolster capital. In a letter to employees, Cryan said he will aim for “prudent growth,” even as cost reductions continue. While many investors and analysts in Europe were still ...

  Bloomberg UK consumers, touted by Mark Carney as a key to the economy’s performance, may find the squeeze on their pockets gets a little tighter this week. While inflation’s upward momentum probably paused in March, another weakening in wage growth means pay isn’t keeping pace with price increases. That’s all going to feed into household spending habits in 2017. ...

  Bloomberg Ireland’s prime minister says the European Union and Britain must be “creative and imaginative” to avoid creating a “hard” border between his country and the UK after Brexit. Prime Minister Enda Kenny met German Chancellor Angela Merkel to discuss what implications Britain’s departure from the EU will have for Ireland. Kenny told reporters in Berlin any solution must ...

  Bloomberg Morgan Stanley President Colm Kelleher, who runs the firm’s investment bank and retail brokerage, received $19.5 million for his work last year, a 27 percent increase. Kelleher, 59, was paid $1.67 million in salary, $6.88 million in deferred cash and $2.4 million in deferred stock, the New York-based bank said in a regulatory filing. He also got a ...

  DUBAI / WAM The Dubai Electricity and Water Authority (DEWA) unveiled its plans to build three new 400 kilovolt (kV) substations over the next three years, with an allocated budget of AED1 billion. The three substations will be added to DEWA’s 21 existing substations. DEWA is working in adherence with its strategy of increasing the efficiency of electricity services ...