November, 2019

• 25 November

  Bitcoin sinks more than 10% to lowest level in six months

  

  Bloomberg Bitcoin sank more than 10% to the lowest level in six months, extending last week’s slide past the weekend on concerns about a crackdown on cryptocurrency operations by China. The digital currency plunged as much as 11% from November 22’s close and was trading below $6,600 as of 1:50 pm in Hong Kong, according to Bloomberg composite pricing. It’s ...

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• 25 November

  IMF cuts Japan’s GDP forecast third time amid global risks

  

  Bloomberg The International Monetary Fund (IMF) called on Japan’s government and the Bank of Japan (BOJ) to cooperate more in support of the economy as it cut its 2019 growth forecast for the third time this year amid heightened global risks. Speaking at the conclusion of the fund’s annual mission to review Japan’s economy, IMF managing director Kristalina Georgieva essentially ...

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• 25 November

  Italy is ready to make a peace offering on Europe’s banking push

  

  Bloomberg Italy may be willing to compromise on its holdout against a German plan for further integration of the European Union’s banking system that includes setting limits on holdings of sovereign debt. Vincenzo Amendola, Italy’s minister for European Affairs, said in an interview in Rome that he is confident that a “good compromise” can be found in the next month. ...

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• 25 November

  ‘Negative rates can do a lot more damage’

  

  Bloomberg After half a decade of negative interest rates, one of the biggest Nordic pension funds is wondering whether this is just the beginning. The head of investments at Finland’s Ilmarinen Mutual Pension Insurance Co says his industry is “just starting to see what kind of new challenges [negative rates] will cause.” That means “we are just taking the first ...

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• 25 November

  Laos to benefit from US-China trade war

  

  Bloomberg Landlocked Laos may be a net beneficiary of the trade tension between the US and China. Chinese foreign-direct investment has climbed since the trade war began as firms seek alternative manufacturing sites to avoid US tariffs, said Bank of the Lao PDR deputy governor Vathana Dalaloy. “We may gain more than we lose,” she said in an interview in ...

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• 25 November

  For Asia’s only losing EM currency, future looks even bleaker

  

  Bloomberg India’s rupee is the only emerging Asian currency to weaken this quarter and its losses may gather pace as a report this week is forecast to show economic growth slid to a six-year low. The rupee, which has slumped almost 5% from this year’s high in July, is also under selling pressure due to escalating levels of public debt ...

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• 25 November

  Impeachment reaches decision stage as Dems review evidence

  

  Bloomberg House Democrats are starting to compress weeks of depositions, documents and testimony into a report almost certain to result in articles of impeachment against President Donald Trump, as the White House wages a campaign to discredit the investigation. Intelligence chairman Adam Schiff won’t rule out more witnesses or other avenues of investigation beyond a central focus: whether Trump tried ...

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• 25 November

  Abe presses China on ‘free’ Hong Kong, maritime disputes

  

  Bloomberg Japanese prime minister Shinzo Abe urged China to preserve a free Hong Kong and backed Beijing’s “one country, two systems” principle of governing it in a meeting with Chinese foreign minister Wang Yi, just as pro-democracy candidates triumphed in an election in the city. Abe also “strongly pushed” for China to deal positively with disputes over the East China ...

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• 25 November

  Johnson aims to consolidate his lead in polls

  

  Bloomberg UK prime minister Boris Johnson is aiming to consolidate his lead in the polls in the final weeks of the general election campaign. He announced a safety-first policy package based on “sensible” promises, which included hiring 50,000 nurses for the country’s cherished National Health Service and cutting taxes for working people. Johnson carefully avoided the radical language and out-of-the-blue ...

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• 25 November

  EU’s rejection speeds emigration from west Balkans, says leader

  

  Bloomberg Depriving western Balkan countries of a clear chance to join the European Union risks speeding up the already alarming pace of people emigrating away from the region, North Macedonia’s president said. Stevo Pendarovski said that France’s decision to block the opening of accession talks with his country and Albania — and president Emmanuel Macron’s insistence that there should be ...

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