November, 2019

• 18 November

  London office landlords can’t believe how good things are

  

  Bloomberg London’s office landlords keep being surprised that things aren’t a lot worse. Demand for office space in the UK capital is holding up even as political uncertainty persists in a nation gripped by its decision to leave the European Union. Businesses have continued to lease space despite the prospect of a general election that’s pitted the Brexit-backing Conservative party ...

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• 18 November

  US stocks slip with Europe after trade doubts resurface

  

  Bloomberg US stocks slipped along with European shares as doubts about a China trade deal weighed on sentiment, highlighting the fragile nature of recent gains as negotiations drag on. The S&P 500 Index retreated from previous record close amid reports that Beijing is pessimistic about the chances of reaching an accord with the US. The Stoxx Europe 600 Index dipped, ...

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• 18 November

  Philippine stocks may pick up into year-end on profits, economy

  

  Bloomberg Knocked off course by a host of negatives, the Philippine stock rally may be set to regain momentum into year-end on improvement in the domestic economy and corporate profits. The Philippine Stock Exchange index (PSEi) has breached the 8,000 mark 13 times this year only to fall back through, hurt by factors including the US-China trade war and the ...

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• 18 November

  China lowers borrowing costs as economic outlook worsens

  

  Bloomberg China lowered the cost it charges on short-term open-market operations for the first time since October 2015, a move aimed at shoring up confidence following a string of poor economic data. The People’s Bank of China (PBOC) cut the interest rate on its seven-day reverse repurchase agreements to 2.5% from 2.55%. The authorities also added 180 billion yuan ($26 ...

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• 18 November

  HSBC closes account linked to HK protests

  

  Bloomberg HSBC Holdings Plc pointed to routine regulatory requirements to ensure client money is used for stated purposes after a report that the firm is shutting a corporate account that helped fund protest-related activities in Hong Kong — a politically sensitive issue. The bank took action after finding the account was being used inconsistently with its original paperwork, the Hong ...

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• 18 November

  Baht, won compete for best currency title

  

  Bloomberg The Thai baht’s reign as Asia’s best-performing currency is coming under threat from an unlikely source: South Korea’s won. The baht has slumped into the bottom half of the regional rankings this quarter after heading the table for three consecutive three-month periods. The won meanwhile has shrugged off its chronic underperformance and rocketed to the top. The main reason ...

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• 18 November

  ‘Global economy will recover in early 2020’

  

  Bloomberg A combination of easing trade tensions and easier monetary policy will lift global growth from the first quarter of 2020, according to economists at Morgan Stanley. Emerging markets will drive the recovery, given the late-cycle stage that US growth is in, they argue. “A 1Q20 recovery is on the cards,” the US bank’s economists led by Chetan Ahya wrote ...

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• 18 November

  ‘Banks turned blind eye to graft in South Africa’

  Bloomberg UK lawmaker Peter Hain accused international banks including HSBC Holdings Plc and Standard Chartered Plc of aiding and abetting graft in South Africa during former President Jacob Zuma’s rule and earning considerable fees in the process. The lenders enabled members of the Gupta family, who were Zuma’s allies and in business with his son, to launder stolen funds and ...

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• 18 November

  India’s central bank chief faces tough balancing act

  

  Bloomberg Soon after taking over as India’s central bank governor almost a year ago, Shaktikanta Das decorated his 18th floor office overlooking the Arabian Sea with two statues of Lord Jagannath, a form of the Hindu god Vishnu. Revered in Das’s native Odisha state, Jagannath is depicted with round, lidless eyes that are always watching over the welfare of devotees. ...

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• 18 November

  NextEra Energy owes its rise to wind power

  

  Bloomberg Two decades ago, when coal ruled US power generation, a Florida utility plowed some of its extra cash into a wind farm atop a desolate Oregon plateau. It was the start of an unimaginably successful bet. This year, that company — now named NextEra Energy Inc — became the world’s first utility with a market capitalisation of more than ...

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