January, 2020

• 27 January

  A billionaire leaves no will? Let the plotting begin

  It was once a great blessing for an emperor to have a son. But if he has more than one, succession could threaten to unravel the empire – especially if his grip was weak. Over six decades, Shin Kyuk-ho built a chewing-gum business into South Korea’s fifth-largest conglomerate, spanning hotels, shopping malls, movie chains and cafes. It’s no secret that ...

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• 27 January

  China’s plastic bag ban is a blow to oil majors

  Back in 1999, one of the most talked-about scenes in one of the most talked-about movies involved a dancing plastic bag. It was surely a more innocent time. Still, two decades on from American Beauty and its bag-shaped pretensions, this is an opportune moment to reiterate that it’s just trash. China has unveiled plans to curb the use of non-degradable ...

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• 27 January

  Catalan secessionists ladle a soup of fiction, paranoia

  

  Beneath the sleek surface of this sparkling Mediterranean metropolis boil passions generated by Spain’s version of identity politics. The passions are aroused by demagogues who hope to shatter a nation. The turmoil in Catalonia — the northeastern of Spain’s 17 regions, which exercise considerable autonomy (over police, health care, education, etc.) — is the toll taken by lies used to ...

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• 27 January

  Banking industry is spending wildly on the latest technology

  

  It’s rare for an anonymous quote in a management consultant’s report to make much of an impression. But the admission by the chief financial officer of an unnamed global bank on the mystery that surrounds his own company’s technology spending is striking. It’s especially troubling for investors in the finance sector. “I know 50% of my digital transformation spend is ...

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• 27 January

  A $21 billion Telco war in India comes down to $2

  

  India’s great telecom melee was bad enough as a brawl between service providers and the state, with operators complaining about the government’s outlandish claims on their past revenue. Now, consumers have jumped into the fray. A confusing three-cornered fight could lead to ugly outcomes: The country’s broken financial system would take a fresh hit; new 5G networks could be delayed; ...

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• 27 January

  Deadly coronavirus fears drive sell-off in stocks, oil, yuan

  

  Bloomberg Intensifying concern about the economic and human impact of the coronavirus sent stocks, oil and China’s yuan tumbling on Monday while spurring haven assets. Treasuries gained and Italian bonds jumped after regional elections. The Stoxx Europe 600 Index headed for its worst decline since October, with miners dropping by more than 4%. Contracts on the main US equity benchmarks ...

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• 27 January

  Thai stocks drop most since 2016 on ‘tour ban’

  

  Bloomberg Thailand’s stock market tumbled on the prospect of economic turbulence after China banned outbound group tours to fight the spread of the novel coronavirus that’s sickened thousands of people. The SET index slid 2.9% on Monday, the most since 2016, with tourism shares among those bearing the brunt of the drop. The baht weakened in line with emerging-market currencies ...

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• 27 January

  Abe’s first pick in BOJ board rejig to test inflation resolve

  

  Bloomberg Japanese Prime Minister Shinzo Abe’s upcoming choice of candidate to join the Bank of Japan (BOJ) board could shed light on the leader’s current thinking on the importance of achieving a stubbornly difficult inflation goal. Abe’s nomination to replace Yutaka Harada is scheduled to take place on Tuesday morning, according to a document seen by Bloomberg. The choice will ...

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• 27 January

  Switzerland’s central bank is stomaching stronger franc for now

  

  Bloomberg Sight deposits at the Swiss National Bank increased only marginally last week, suggesting President Thomas Jordan and his colleagues aren’t taking much action to counter the strengthening franc. Iran-US tensions and fears about the spreading Coronavirus has lifted the haven franc this year. Earlier on Monday, it breached the 1.07 per euro mark to touch a fresh three-year high. ...

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• 27 January

  ‘Demand for Treasuries will prove short-lived’

  

  Bloomberg JPMorgan Chase & Co strategists are betting that the surge in demand for Treasuries thanks to fears about the deadly coronavirus will prove short-lived, sticking with a call to sell longer-dated bonds. Among the Wall Street bank’s other takeaways from the latest market-outlook reports: the outbreak of the disease is a “clear negative” for emerging Asian currencies, while for ...

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