February, 2019

• 24 February

  Manafort ‘brazenly’ broke law for years

  

  Bloomberg Special Counsel Robert Mueller told the judge who’ll sentence President Donald Trump’s former campaign chairman that Paul Manafort “brazenly violated the law” for a decade and presents a “grave risk” of committing new crimes. Manafort, 69, is set to be sentenced on March 13 in Washington, where he pleaded guilty to two conspiracy counts and faces as much as ...

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• 24 February

  With eye on votes, Modi doles out cash to farmers

  Bloomberg Indian Prime Minister Narendra Modi launched an income support program for small farmers in a bid to woo a key voter base ahead of the general election due by May. The government started distributing the first installment of 2,000 rupees ($28) to farmers who hold as much as 2 hectares (4.9 acres) of land. Under the program, it proposes ...

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• 24 February

  Will the US Dreamers ever catch a break?

  

  The “Dreamers” lost again. As you will recall, the Dreamers are illegal immigrants who were brought to the United States as young children. Most have grown up as Americans; sending them back to a country where they barely lived seems a particularly heartless punishment —and self-defeating for the United States if they’re responsible and productive adults. Happily, this is one ...

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• 24 February

  What is ailing Europe’s economy?

  

  In the space of just two years, the euro zone has gone from the world economy’s hero to zero. In 2017, the bloc expanded at the fastest rate in a decade, as it benefited from a combination of booming global trade and ultra-easy monetary policy. Now, the currency union has become the prime concern for those who worry about a ...

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• 24 February

  HSBC bankers, prepare for lower bonuses

  HSBC Holdings Plc is making a promise: Cost control is coming without layoffs. The pledge — laid out by Chief Executive Officer John Flint — may seem like wishful thinking, given the lengthening list of challenges to the bank’s revenue growth. For investors, it means HSBC will have to gin up growth faster than last year’s 5 percent gain, slow ...

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• 24 February

  Europe’s junk bonds head for an accident

  What happened to Europe’s high-yield bond market? It has been a banner year so far for bond issuance for investment grade companies and governments. But for those with weaker credit ratings, sales are about 60 percent down from the same time last year. This is a worrying sign that financing is shutting off for the borrowers that are most vulnerable ...

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• 24 February

  Donald Trump’s car tariffs would hit Eastern Europe

  

  Germany may be the biggest likely victim of any punitive US tariffs on car imports, but the industry’s complex geography means other European countries would also be hurt – and in relative terms, some may take an even bigger hit. Two of them, Italy and Hungary, are run by populist governments with leaders well-disposed towards President Donald Trump. Eight of ...

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• 24 February

  Sainsbury should scrap Asda deal

  

  Sasda is looking more like Sad-sda after UK regulators said they could block the proposed combination of J Sainsbury Plc and Walmart Inc.’s British subsidiary, Asda. The Competition and Markets Authority’s (CMA) findings are more onerous than even the worst case scenarios that the two companies or financial analysts had mapped out. But they do have a silver lining for ...

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• 24 February

  Brexiters should give up Singapore-on-Thames fantasy

  

  Many pro-Brexit Brits are taken with the idea that the UK doesn’t need to belong to a large bloc any more than its tiny former colony Singapore does. The Southeast Asian city-state, they argue, has flourished by lowering taxes and opening up its economy to trade and investment, and so can a post-Europe Britain. Those excited about the prospects for ...

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• 24 February

  From best to worst, India’s stock market is setting off alarm bells

  

  Bloomberg Two months ago, it was Asia’s hottest stock market. Now, investors are shunning it. India has wiped out $113 billion in value this year after winning the regional equity crown in 2018. Uncertainty surrounding upcoming elections, an ongoing debt issue, a government that’s making greater demands on the central bank and high valuations have kept investors on the sidelines. ...

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