September, 2019

• 8 September

  New tech paradigm won’t save you at all

  

  Back in the day, PCs were hip and investors chased computer stocks to sky-high valuations. Everyone was buying a desktop, and then a laptop, and the companies that supplied them could do no wrong. Then came the smartphone. We all know to blame Apple Inc. for the end of the PC era. Though Steve Jobs didn’t invent the “phone + ...

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• 8 September

  With Assam register, India creates its own border crisis

  

  India’s far northeast is beautiful, friendly and one of the most ethnically, religiously and linguistically diverse places on earth. Multiple distinct ethnic groups share the hills, dales and great valley of the Brahmaputra River with indigenous tribes, tea garden workers originally from central India, ethnic Nepalese, and Bengalis — both Hindu and Muslim — from the Gangetic delta. As in ...

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• 8 September

  Powell waves off recession fear while leaving rate cuts on table

  

  Bloomberg Federal Reserve Chairman Jerome Powell pushed back against perceptions that the US economy was tilting into a recession, while leaving the door open to further interest-rate cuts to keep the country’s record economic expansion on track. Speaking in Zurich, Powell said consumer spending and support from monetary policy should help deliver economic growth between 2 percent and 2.5 percent ...

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• 8 September

  Ping An unit mulls ‘digital bank license’

  

  Bloomberg Ping An Insurance (Group) Co’s financial technology unit is considering an application for one of Singapore’s new digital banking licenses, according to a person familiar with the matter. OneConnect is looking to secure a wholesale license which would allow it to provide banking services to small and medium-sized businesses on the island, said the person, who requested anonymity because ...

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• 8 September

  Goldman CEO, Bono nicked in Sugarfina bankruptcy

  Bloomberg Sugarfina Inc, the chain of luxury candy shops backed by some of the biggest names in banking and entertainment, filed for Chapter 11 bankruptcy protection as mall-based stores struggle to compete. Posh candies like Champagne gummy bears for $8.50 and bourbon-and-toffee chocolate bars at $9.50 are part of Sugarfina’s lineup. The company listed assets and liabilities of up to ...

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• 8 September

  Veteran banker touts India bonds on prospect of deeper interest rate cuts

  

  Bloomberg The slide in Indian bonds last month on concern about potential monetary stimulus has one bond veteran smelling an opportunity. The government’s scope to deliver a big package to revive the economy is limited despite the $24 billion windfall from the central bank, while the prospect of additional interest-rate cuts will drive yields lower, Neeraj Gambhir, president and head ...

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• 8 September

  Britons worried about Brexit pushing up prices

  

  Bloomberg Half of Britons say that the UK’s departure from the European Union has pushed up their expectations for price growth, a Bank of England (BOE) survey showed. Inflation expectations for the coming year stood at 3.3 percent in August, the BOE said, the highest since 2013 and up from 3.1 percent in May. Consumers are slightly more optimistic about ...

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• 8 September

  World’s bad-loan mess to worsen on India’s cash crunch

  

  Bloomberg A prolonged shadow-banking crisis and hurdles in bankruptcy rules are set to keep India atop the world’s worst bad-debt pile, even as Italy, which held the title previously, quickens the clean-up of its lenders. Moody’s Investors Service to Credit Suisse Group AG warned that more loans may sour in the Asian nation’s banking system. More than 2.4 percent of ...

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• 7 September

  UAE assistance to reach 30,000 flood-victim families in Sudan

  

  Abu Dhabi / WAM The Khalifa bin Zayed Foundation will distribute humanitarian relief and food assistance to around 30,000 Sudanese families affected by torrential rains and flash floods that swept Sudan in early August, a foundation source has announced. The source said a field relief team of the foundation had held a series of meetings with Dr. Mohmmed Fadhlallah, Deputy ...

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• 7 September

  Oil posts biggest weekly gain since July on Fed reassurance

  

  Bloomberg Oil posted the biggest weekly gain since July as Federal Reserve Chairman Jerome Powell sought to calm fears of a possible recession following a lackluster jobs report that was seen as dimming the demand outlook. Futures in New York rose 0.4% on September 6, erasing earlier losses. Powell said the most likely outlook for the US and world economy ...

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