July, 2022

• 12 July

  Biden, Mexico’s AMLO to talk migration, security

  

  Bloomberg President Joe Biden and his Mexican counterpart, Andres Manuel Lopez Obrador, plan to discuss ways to expand legal migration, improve security and strengthen their shared border during a White House meeting on Tuesday. The two leaders will announce joint actions to improve infrastructure and cooperation along their almost 2,000-mile boundary, according to Biden administration officials, who briefed reporters on ...

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• 12 July

  Trump ‘too much drama,’ should sit out 2024 race

    Bloomberg Elon Musk said Donald Trump should “sail into the sunset” rather than run for president again and predicted Florida Governor Ron DeSantis will easily beat Joe Biden if the two square off in 2024. In a series of tweets to his more than 100 million followers, Musk pointed out Trump, now 76, would be 82 by the end ...

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• 12 July

  Battered euro edges ever closer to parity as dollar runs rampant

  

  Bloomberg Europe’s common currency edged closer toward parity with the US dollar on Tuesday as energy concerns and the risk of recession weighed on the outlook for the euro area, while risk aversion fuelled a broad rally in the greenback. The euro dropped as much as 1.3% to $1.0005, eclipsing its low from last week. The last time it was ...

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• 12 July

  China to repay customers hit by ‘biggest’ bank scam

  

    Bloomberg Chinese authorities will start repaying most of the victims in the nation’s biggest bank scam after hundreds of angry customers took to the streets again over the weekend to ratchet up pressure on the government. Clients from the four rural banks in the central province of Henan and one in Anhui will be repaid “in advance” starting Friday, ...

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• 12 July

  Yen selling accelerates as Japan policies earn backing of public

  

  Bloomberg The yen falls to a fresh 24-year low after Japan’s ruling coalition expanded its majority in the upper house election, with investors interpreting the result as a quasi-referendum on the country’s super-easy monetary policy. The currency falls as much as 0.9% against the dollar, breaching the closely-watched 137 level. Bank of Japan Governor Haruhiko Kuroda reiterated that he won’t ...

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• 12 July

  Thailand’s SCB X weighs options for $1.5b asset management unit

  

  Bloomberg SCB X Pcl is considering options including a sale of its asset management unit, people familiar with the matter said, amid growing industry consolidation in Southeast Asia’s second-largest economy. SCB X, formerly known as Siam Commercial Bank Pcl, has been speaking with financial advisers to explore a potential transaction for SCB Asset Management Co., the people said, asking not ...

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• 12 July

  Payment giant has Swift alternative for Indian expats

  

    Bloomberg The company that built India’s digital payments backbone plans to make it cheaper and easier for the nation’s 32 million expatriates to bring their money home. Indians overseas remitted $87 billion last year, the biggest inflow for any country tracked by the World Bank. The remittances market, where it costs $13 on average to send $200 across borders, ...

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• 12 July

  Bitcoin likely to hit $10,000 than $30,000, finds survey

  Bloomberg Wall Street expects the cryptocurrency’s crash to get a whole lot worse. The token is more likely to tumble to $10,000, cutting its value roughly in half, than it is to rally back to $30,000, according to 60% of the 950 investors who responded to the latest MLIV Pulse survey. Fourty percent saw it going the other way. Bitcoin ...

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• 12 July

  Futures fall as dollar, bonds advance on haven demand

  

    Bloomberg US equity futures fall on Tuesday as the dollar and sovereign bonds rose, a pattern highlighting pervasive unease about the economic outlook amid high inflation and China’s struggles with Covid-19. S&P 500, Nasdaq 100 shed over 0.5% after a Wall Street slide. The Stoxx Europe 600 gauge slipped for a second day, though it pared the decline with ...

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• 12 July

  China tech stocks enter correction as recent rebound fizzles out

  

    Bloomberg China’s tech stocks unwound recent gains to enter a technical correction on Tuesday, with analysts questioning if fresh probes on internet giants would spark another downturn in the sector. The Hang Seng Tech Index falls 2.1% after tumbling 3.9%, taking declines from a June peak to 11%. Alibaba Group Holding Ltd was among the biggest drags as it ...

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