August, 2019

• 19 August

  SoftBank plans to lend employees $20b for fund

  

  Bloomberg SoftBank Group Corp. is planning to lend as much as $20 billion to its employees to buy stakes in its second venture capital fund following the success of an earlier $100 billion fund to invest in tech start-ups, the Wall Street Journal reported. The second Vision Fund aims to raise $108 billion, SoftBank said earlier. In addition to its ...

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• 19 August

  Jobless rate in HK rises for first time since 2017

  Bloomberg Hong Kong’s jobless rate rose for the first time since 2017 in July, led by weakness in the retail and restaurant industries as the government warned of further pressure on the city’s slumping economy in the months ahead. The seasonally adjusted unemployment rate rose to 2.9%, including a “relatively notable increase” in the food and beverage service sector, the ...

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• 19 August

  Japan exports fall again in July

  

  Bloomberg Japanese exports fell for an eighth straight month in July, weighed down by shipments of auto parts and semiconductors, as slowing economic growth and trade battles raise fears of a global recession. The value of shipments abroad dropped 1.6% in July from a year earlier, according to the finance ministry. Economists surveyed by Bloomberg had estimated a 2.3% drop. ...

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• 19 August

  Germany says it could spend extra $55 billion if crisis hits

  

  Bloomberg Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Finance Minister Olaf Scholz suggested Germany could muster 50 billion euros ($55 billion) of extra spending in an economic crisis, putting a number on a possible fiscal stimulus for the first time. While Scholz signaled that action by Germany isn’t imminent, ...

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• 19 August

  ‘Apple CEO worried about losing edge to Samsung with tariffs’

  

  Bloomberg President Donald Trump said Apple Inc. Chief Executive Officer Tim Cook voiced concerns about chief competitor Samsung Electronics getting an edge because its products, unlike Apple’s, won’t be subject to tariffs when imported by the US. Cook and Trump had dinner, while the president was at his golf club in Bedminster, New Jersey. Trump described the conversation to reporters ...

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• 19 August

  ‘Fighting climate change will help economic growth’

  

  Bloomberg Slowing the pace of climate change in line with the Paris Agreement has clear economic benefits as global warming is increasingly seen as a risk to financial stability and the economy. Abiding by the Paris Agreement and limiting annual average temperature increases to 0.01 degree celsius reduces global income by 1.07% by 2100. That compares with a 7.22% hit ...

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• 19 August

  Support for free trade among Americans on rise in new poll

  Bloomberg Support for free trade among Americans is on the rise, as backing for President Donald Trump — the self-described “Tariff Man” — dips to its lowest level in more than a year, an NBC-Wall Street Journal poll showed. Almost two-thirds — 64% — see free trade as good for the US, an all-time high for the survey series. Support ...

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• 19 August

  Europe IPOs at lowest since crisis fuels market fears

  

  Bloomberg If the lament over a shrinking equity market has been momentarily drowned out in US by opening bells rung by red-hot debutantes, it’s only gotten louder on this side of Atlantic. Eighty-four companies have listed in Europe this year, the fewest in a decade by a mile, according to data compiled by Bloomberg. By deal value, it’s the lowest ...

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• 19 August

  India keeps Kashmir under lockdown as anger grows

  

  Bloomberg Communications restrictions continued across Kashmir two weeks after India scrapped the region’s autonomy, while the fate of detained political leaders — including former chief ministers — remains uncertain. India aid all government offices along with around 190 schools would be reopened from Monday, however curbs in some parts of the capital Srinagar were reimposed after protesters clashed with police, ...

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• 19 August

  Iran warns US against attempt to seize oil tanker

  

  Bloomberg Iran warned the US against apprehending a supertanker carrying the Middle East country’s oil, leaving the fate of the vessel uncertain as it sailed east into the Mediterranean Sea from Gibraltar, where it been detained since last month. The tanker, formerly called the Grace 1 and now known as the Adrian Darya 1, was signaling — at least for ...

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