May, 2019

• 11 May

  Oil short-selling hits 8-month high as US-China talks darken outlook

  

  Bloomberg Pessimism is back in vogue in the oil markets, as investors bet sputtering trade talks and swelling US output can kill crude’s rally. Hedge funds lifted bearish bets on West Texas Intermediate crude by 39%, the biggest short-selling surge in more than eight months. Meanwhile, bets on a rally retreated for the second straight week. Crude futures slipped to …

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• 11 May

  UBS: Hong Kong property prices to rise for a decade

  

  Bloomberg Prices are set to rise for another decade in the world’s least affordable property market, Hong Kong, according to UBS Group AG. Inflows of residents will be key as the Greater Bay Area project integrates a group of mainland Chinese cities with Hong Kong, property analyst John Lam wrote in a research report. The extra buyers will be “more …

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• 11 May

  UK property market subdued as Brexit weighs on prices

  

  Bloomberg House price growth in the UK remained weak in April as the slump in southeast England and London depressed the market, the latest survey from the Royal Institution of Chartered Surveyors showed. The index was unchanged as a dip in new buyers weighed on prices, the report said. Expectations for the next three months are for flat or declining …

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• 11 May

  Apple preps upgrades for iPhone apps, watch, health data

  

  Bloomberg Apple Inc is planning to unleash a slew of new apps, features and development tools at its annual software conference next month. To improve its devices and strengthen its connection to customers, the consumer technology giant will continue to walk a fine line between wooing outside app makers while also competing against them. The Worldwide Developers Conference, or WWDC, …

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• 11 May

  Dyson patents reveal plans for electric car set for 2021

  

  Bloomberg Dyson Ltd’s electric car may have a long wheel base, an interior cabin with reclining seats and an aerodynamic design, according to patents awarded to the company. The patents, filed about 18 months ago and made public, are the first glimpse of the car being built by the UK-based company known for pricey vacuums, hair dryers and air purifiers. …

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• 11 May

  Google debuts new Pixel phones after premium handsets flop

  

  Bloomberg Google unveiled cheaper Pixel smartphones after the company’s line of premium handsets failed to sell in large numbers. Slower processors and cheaper materials helped Google price the Pixel 3a with a 5.6-inch screen at $399. The larger Pixel 3a XL has a 6-inch screen and costs $479. That’s roughly half the price of the company’s existing Pixel phones, before …

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• 11 May

  Fed likely to cut rates as US raises Chinese import tariffs

  

  Bloomberg The Federal Reserve probably will be more inclined to cut interest rates now that President Donald Trump has followed through on his threat to increase tariffs on US imports from China. But it won’t rush into doing so. While the higher levies will put upward pressure on inflation by raising import prices, the central bank will likely be more …

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• 11 May

  Tencent, Ant Financial, Xiaomi join Hong Kong’s virtual banking race

  

  Bloomberg Tencent Holdings Ltd., Ant Financial, Industrial & Commercial Bank of China Ltd. and Xiaomi Corp. are among companies to win licenses to create virtual lenders in Hong Kong, bringing major players into the race to shake up the city’s traditional banking sector. Tencent has teamed up with ICBC’s local unit and Hong Kong Exchanges and Clearing Ltd., according to …

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• 11 May

  SocGen launches crypto to $2trn market for covered bonds

  

  Bloomberg A bond market as old as capitalism itself has emerged as the latest proving ground for cryptocurrencies. A unit of Societe Generale SA sold 100 million euros ($112 million) of covered bonds — debt backed by mortgages — in the form of digital tokens with the French bank as the only buyer. The idea of last month’s pilot issue …

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• 11 May

  Norway set for June interest rate hike in sign of breaking with global trend

  

  Bloomberg Norway’s central bank said it will probably raise interest rates in June, three months after the last increase, as policy makers break with a global trend and commit to tightening. The economy of Western Europe’s biggest oil exporter is nearing full capacity as its labour market grows tighter and inflation creeps above Norges Bank’s target. But with central bankers …

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