December, 2019

• 10 December

  Stocks drop with US futures; Treasuries edge up with gold

  

  Bloomberg US equity-index futures retreated alongside stocks in Europe as investors turned cautious in the countdown to major central bank meetings and a deadline for fresh American tariffs on Chinese goods. Treasuries gained with gold. Contracts for the three main US gauges all dropped as traders await news on whether Washington will go ahead with a planned December 15 tariff ...

  Read More »
• 10 December

  SoftBank likely to sell Alibaba stock to fund buyback

  

  Bloomberg The slump in SoftBank Group Corp’s shares could prompt Masayoshi Son to play an ace card — cashing in part of his stake in Alibaba Group Holding Ltd. Son is likely to sell Alibaba stock to help pay for another buyback in an attempt to bolster SoftBank shares, according to Jefferies Group analyst Atul Goyal. It’s a surprise the ...

  Read More »
• 10 December

  Flows to India stock funds drop as investors hold back

  Bloomberg Inflows into Indian equity funds shrunk to the lowest in more than three years last month after the record-hitting rally in stocks despite a faltering economy gave investors pause. Stock plans received 13.1 billion rupees ($184 million) in November, according to the Association of Mutual Funds in India. That compares with 60.2 billion received in October, and is the ...

  Read More »
• 10 December

  Sri Lanka’s LOLC prepares to sell biggest overseas unit

  

  Bloomberg LOLC Holdings Plc, Sri Lanka’s second-largest publicly traded company by revenue, plans to sell its stake in a unit in Cambodia and use the proceeds to fund acquisition of microfinance firms in emerging markets from Brazil to India. LOLC Holdings plans to sell its 70% stake in Prasac Microfinance Institution Ltd, which also counts Hong Kong’s Bank of East ...

  Read More »
• 10 December

  Japan bonds rebound as benchmark yield’s 0% rise spurs demand

  

  Bloomberg Japan’s bonds rebounded as an advance in the benchmark yield to zero for the first time in nine months lured investors back. The 10-year yield dropped to minus 0.025% after climbing to 0% earlier on Tuesday. Japanese bond futures also bounced back from a one-year low. “There is extremely strong demand from investors when the 10-year yield touches zero,” ...

  Read More »
• 10 December

  ‘Unacceptable’ EU biofuel tariffs rile Indonesia

  Bloomberg The Indonesian government says the European Union’s (EU) tariffs on the Asian nation’s biodiesel shipments are “unacceptable” and all options to counter the policy are on the table, including retaliatory actions. The EU imposed five-year tariffs on Indonesian biodiesel imports to counter alleged subsidies to producers of the fuel, which is typically made from palm oil and other fats ...

  Read More »
• 10 December

  Vietnam’s richest man bets $2b for US car sale

  

  Bloomberg The billionaire behind six-month-old Vietnamese auto startup VinFast plans a feat even Toyota Motor Corp and Hyundai Motor Co couldn’t pull off during their early days: sell a car in the US. Pham Nhat Vuong, the Southeast Asian country’s richest man and now in charge of the new automaker, is so intent on exporting electric vehicles to the lucrative ...

  Read More »
• 10 December

  China’s leaders gather to set economic targets for 2020

  

  Bloomberg China’s top leadership will set the target for economic growth at “about 6%” for 2020 as they meet this week for their annual policy conclave, according to a survey of economists. The central Economic Work Conference meeting began Tuesday and will wrap up on Thursday, according to people briefed on the plans, right as negotiators aim to finalise a ...

  Read More »
• 10 December

  Nissan faces $22m fine over Ghosn’s pay

  

  Bloomberg Nissan Motor Co is set to be fined 2.4 billion yen ($22 million) for underreporting former chairman Carlos Ghosn’s compensation, Japan’s securities regulators said. The Securities and Exchange Surveillance Commission made the recommendation just over one year after Ghosn’s arrest, which shocked the auto industry and triggered turmoil at the Japanese automaker and its alliance partner, Renault SA. Ghosn, ...

  Read More »
• 10 December

  Record blackouts shut South Africa’s mines

  Bloomberg Platinum and gold mines in South Africa stopped operations as the country was hit by record levels of rolling blackouts that are crippling key parts of the economy, threatening another recession. Producers including Sibanye Gold Ltd, the world’s biggest platinum miner, recalled workers from underground and stopped milling ore after state-owned power utility Eskom Holdings SOC Ltd announced it ...

  Read More »