August, 2019

• 19 August

  The pace of technological progress may be slowing

  Shouldn’t we have space colonies by now? Instead there are signs that the pace of technological progress is slowing — even as researchers pump out papers at a prolific and increasing rate. With slowing progress in computing power, medicine and agriculture, my Bloomberg Opinion colleague Noah Smith warns that the stakes could not be higher. Surely some of the fault ...

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• 19 August

  Boris Johnson is not the most important Brexiter

  

  In the highly entertaining Channel 4 drama about the 2016 referendum campaign “Brexit: The Uncivil War,” Benedict Cumberbatch, playing the mastermind of the Vote Leave campaign, is sometimes found crouched in the narrow pantry where he retreats to think. It’s not hard to picture the real Dominic Cummings doing just that. Cummings is no mere political curiosity. Though unelected and ...

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• 19 August

  Aston Martin needs James Bond armour

  

  The company behind Aston Martin should take the plunge and raise some equity while it can. Aston Martin Lagonda Global Holdings Plc doesn’t need the money immediately. But the historic sportscar maker may in the future, and it would be better to secure the cushion now before its window of opportunity shuts entirely. The brief 21 percent share price fall ...

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• 19 August

  WeWork takes startup-mania era to its logical extreme

  

  I confided to a colleague that the WeWork Cos IPO filing reminded me of a lower-stakes Mueller report. Truly. It was good for WeWork, as it was for President Donald Trump, that the public had a chance over years to process in small doses the wild events described in those very different tomes. Without the history of WeWork reporting from ...

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• 19 August

  Stocks climb globally with dollar; Treasuries decline

  

  Bloomberg US equity futures rose alongside stocks in Europe and Asia as traders parsed the latest trade news from Washington and awaited commentary from the Federal Reserve chief. Treasuries fell with European government bonds. The three main US equity-index contracts advanced with the Stoxx Europe 600, which extended its gains to a session high as Bloomberg reported Germany is preparing ...

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• 19 August

  Rebound in China, HK stocks accelerates on policy support

  

  Bloomberg The recovery in mainland China and Hong Kong stocks gathered pace on Monday, helped by Beijing’s plan to reform its interest rate system and lower borrowing costs. The Shanghai Composite Index jumped 2.1 percent and the ChiNext gauge closed up 3.5 percent, the biggest gains for both since July. The Hang Seng Index rose 2.2 percent, the most in ...

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• 19 August

  JPMorgan plans call with clients on market volatility

  

  Bloomberg JPMorgan Chase & Co. plans to host a conference call on Tuesday to help clients make sense of markets after a week of wild swings for stocks and bonds. “In the wake of a rather violent decline in yields, inversion of the curve, and volatility in equity markets, we consider the role of poor liquidity and systematic flows in ...

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• 19 August

  Euro-area inflation raising stimulus pressure on ECB

  

  Bloomberg Euro-area inflation was weaker than initially reported in July, raising pressure on European Central Bank (ECB) policy makers to consider more stimulus in September. Eurostat revised its July estimate for consumer price growth to 1%, down from a reading of 1.1% reported on July 31. It’s the second consecutive revision to inflation data. The report adds to negative data ...

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• 19 August

  India’s central bank head says reviving growth a top priority

  

  Bloomberg India’s central bank Governor Shaktikanta Das said reviving economic growth remains his top priority and urged bankers to pass on past interest rate cuts to borrowers at a faster pace. The six-member monetary policy committee is giving growth the “highest priority,” Das said at a banking conference on Monday in Mumbai. Policy makers, financial sector representatives and bankers were ...

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• 19 August

  SBI sees credit growth to slow this fiscal year

  Bloomberg State Bank of India (SBI), the country’s largest lender, expects credit growth to slow in the financial year started April 1 because demand remains subdued, Chairman Rajnish Kumar said. Credit growth in the current financial year will be between 12% and 14%, compared with about 14% in the previous 12 months, he told the media in Kolkata. The financial ...

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