November, 2022

• 18 November

  China, South Korea stocks set to outperform in 2023: Goldman

  

  Bloomberg Goldman Sachs Group Inc.’s analysts turned bullish on the equity markets of China and South Korea, predicting they will outperform in 2023 as Beijing relaxes its Covid-Zero policy and the global backdrop improves. Both the MSCI China benchmark and the country’s CSI 300 Index will rise by 16% in the next 12 months, the most in the region, strategists …

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• 18 November

  Stocks rise with yields as Fed messages digested

  

    Bloomberg European stocks rise and US index futures pointed to a stronger open on Wall Street after two days of losses triggered by Federal Reserve signals that interest rates would continue to rise for a while yet. Europe’s Stoxx index rises 0.8%, led by energy, banking and utilities, though shares stayed on track to snap a four-week rising streak. …

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• 18 November

  Walmart rises most since 2020 on forecast, wealthy shoppers

  

    Bloomberg Walmart Inc stock soared the most in two years as US shoppers flocked to its stores to find discounts amid surging inflation, spurring surprisingly robust third-quarter results and an improved annual profit outlook. The world’s largest retailer also reported progress in reining in bloated inventories and unveiled a new $20 billion program to buy back its stock. On …

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• 18 November

  Asia’s demand for big jets fuels Airbus’ post-Covid recovery

  

    Bloomberg Airbus SE expects Asia-Pacific airlines’ need for wide-body aircraft to drive a post-pandemic recovery in demand for the larger jets as the region starts to open up, according to a top executive. The surge in demand isn’t just to replace jets like ones from Airbus’s older A330-family, but also for fleet expansion, Anand Stanley, president of Asia Pacific …

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• 18 November

  Singapore’s retail rentals yet to see gains from reopening

  

    Bloomberg Singapore’s retail space rentals are lagging the recovery seen in broader economic activity after the city-state ended Covid-19 curbs. Official data showed retail rents contracted 0.4% from the previous quarter — the third straight quarterly decline since 2021. That compares to an 11% average growth in retail sales during the same period, data compiled by Bloomberg show. Singapore …

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• 18 November

  Adidas seeks cash from rare bond after Yeezy split, new CEO

  

    Bloomberg Adidas AG is raising debt from Europe’s bond market for the first time since dropping Ye, the artist formerly known as Kanye West, and just days after slashing profit expectations for a fourth time. The German sportswear brand is seeking €1 billion ($1 billion) from its debt sale, according to a person familiar with the matter, who asked …

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• 18 November

  Estee Lauder seeks to buy Tom Ford for $2.8 billion

    Bloomberg Estée Lauder Cos. is close to a deal to buy US luxury brand Tom Ford, founded by the former longtime creative director for Gucci, the Financial Times reported. The transaction would value Tom Ford, a fashion empire that spans across menswear, eyewear, beauty and fragrance, at $2.8 billion, the report said. Ford, a 61-year-old Austin, Texas, native, started …

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• 18 November

  UK retailer Joules set to file for insolvency

    Bloomberg Joules Group Plc is set to file for insolvency after the British retailer failed to secure bridge financing or raise equity, putting around 1,600 jobs at risk. The clothing chain, known for its colourful coats and Wellington boots, said it will appoint Interpath Advisory as administrators to protect the interest of creditors. Shares have been suspended. Joules warned …

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• 18 November

  China banks face $200bn in losses from property: UBS

  

  Bloomberg China’s property slump is estimated to cost the nation’s banking system as much as 1.5 trillion yuan ($212 billion) in losses on loans, bonds and other assets, according to UBS Group AG. Such a loss will be “digestible by the banking system as the banks have strong earnings power and high” reserves against non-performing assets, May Yan, the bank’s …

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• 18 November

  JPMorgan set to grow in buyout financing after rivals lost billions

  

    Bloomberg JPMorgan Chase & Co is on the hunt for buyouts to lend to and is hoping to gain market share in leveraged financing after avoiding the dozens of clunkers that have cost competitors billions of dollars. Executives across JPMorgan made a decision last year to cut back on risk in leveraged finance, a choice that surprised customers and …

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