January, 2020

• 1 January

  Taiwan dollar strengthens past 30 in 18 months

  

  Bloomberg The Taiwan dollar strengthened past 30 versus the greenback for the first time in 18 months. The currency rose as much as 0.6% to 29.965 per dollar on and closed at 30.106 in Taipei. The Taiwan dollar has climbed about 3.4% in the second half as the best performer among the world’s major currencies. Taiwan’s financial markets were expected …

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• 1 January

  Will keep monetary policy flexible: PBOC

  

  Bloomberg China’s central bank said it’ll keep monetary policy flexible and work to lower funding costs for businesses as the economy still faces strong headwinds. The People’s Bank of China (PBOC) will work to ensure the transmission of monetary policy and use market-focused reform mechanisms to lower the real interest rate for loans, according to a quarterly report. It will …

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• 1 January

  Year-end euro rally sees cross currency swaps hit record

  

  Bloomberg The battered euro is finishing the year strongly and setting up the case for better performance next year. The common currency rose to its strongest level versus the dollar since August and cross-currency basis swaps — a measure of demand for funding purposes — climbed to the highest on record, Bloomberg Generic Prices show. While both moves mirrored a …

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• 1 January

  China ramps up credit support to aid growth

  Bloomberg China’s central bank will increase the supply of cheap funding to banks by cutting the amount of cash they need to hold as reserves, a move aimed at putting a floor under economic growth in 2020. The required reserve ratio for commercial lenders will be lowered by 50 basis points from Jan. 6, unleashing about 800 billion yuan ($115 …

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• 1 January

  US home prices rise most in five months

  

  Bloomberg Home prices in 20 US cities rose at the fastest pace in five months in October, posting a third straight acceleration as real estate markets showed fresh strength at the start of the fourth quarter. The S&P CoreLogic Case-Shiller index of property values advanced 2.2% from October 2018, according to data that exceeded estimates in Bloomberg survey of economists. …

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• 1 January

  Lexus confronts midlife crisis

  

  Big red bows and the “December to Remember” tagline of year-end Lexus ads have become as much a part of the holiday season as lawn ornaments and tacky sweaters. But the upscale brand has less to celebrate this year in the US, with sales flat and few new vehicles to showcase. Thirty years after its debut shocked established German automakers, …

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• 1 January

  Netflix’s top draws: ‘Murder Mystery,’ ‘Stranger Things’

  

  Bloomberg Netflix Inc, touting the success of its original programming, said the most popular releases on its streaming service this year were things it produced: the comedy movie “Murder Mystery” and the third season of its 1980s sci-fi show “Stranger Things.” The company disclosed lists of its top 10 programmes in 33 countries, offering the most expansive report to date …

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• 1 January

  NIO soars as loss shrinks, but cash concerns linger

  

  Bloomberg NIO Inc surged in US trading after the Chinese electric-car maker paired better-than-expected quarterly results with a warning that it’s still running low on cash. NIO’s adjusted net loss was $342.9 million for the quarter ended in September, a smaller deficit than the prior three months and what analysts were estimating. While the Shanghai-based company doesn’t have enough money …

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• 1 January

  Tencent buys 10% stake in Universal

  Bloomberg A consortium led by China’s Tencent Holdings Ltd agreed to buy 10% of the world’s biggest music company, Universal Music Group, from Vivendi SA, after months of talks. The deal values Universal Music at 30 billion euros ($33.6 billion) and allows Tencent and its partners to increase the stake to as much as 20% for the same price before …

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• 1 January

  Uber, Postmates sue California to block gig-worker law

  

  Bloomberg Uber Technologies Inc and Postmates Inc sued the state of California, alleging that a labour rights law set to go into effect this week is unconstitutional. The lawsuit filed in Los Angeles federal court is a preemptive strike against the state’s landmark measure designed to ensure gig workers receive employment protections. Uber and Postmates argue the legislative process around …

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