October, 2018

• 15 October

  Italian branded suits latest victim of trade war in China

  

  Bloomberg The ongoing trade war with the US is hitting Chinese consumers psychologically, causing a slowdown for luxury goods in the second half of the year, said Italian menswear maker Ermenegildo Zegna Group. “In the past few months, I would say there has been a slowing down of consumption, and probably the consumer is becoming more careful in what he ...

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• 15 October

  Softbank slide deepens to $22bn amid tech rout

  

  Bloomberg SoftBank Group Corp. has been battered over the past two weeks as technology stocks plummet globally. SoftBank shares fell 7.3 percent to 9,251 yen at the close in Tokyo on Monday, pushing the decline in market value to $22 billion since its peak this year. The stock had gained 29 percent this year through September 28 as investors began ...

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• 15 October

  Visa, Mastercard to miss India deadline over ‘data’

  

  Bloomberg Visa Inc. and Mastercard Inc. are among international payment companies set to miss a deadline for certifying their compliance with data localisation requirements set by India’s central bank, people familiar with the matter said. The two credit card giants have requested an extension of the deadline and a relaxation of the rules, citing operational difficulties and security concerns, the ...

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• 15 October

  Singapore private home sales jump 51%

  

  Bloomberg Private home sales in Singapore jumped 51 percent in September as developers marketed more projects post the hungry-ghost festival month, a period Chinese buyers consider inauspicious, and as buyers moved past the additional cooling measures imposed in July. Developers in the city-state sold 932 units, the Urban Redevelopment Authority said in a statement on Monday. That compares with 617 ...

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• 15 October

  Trump threatens more China tariffs, doesn’t seek ‘depression’

  

  Bloomberg President Donald Trump threatened to impose another round of tariffs on China and warned that Chinese meddling in US politics is a “bigger problem” than Russian involvement in the 2016 election. Asked in an interview with CBS’s “60 Minutes” whether he wants to push China’s economy into a depression, Trump said “no” before comparing the country’s stock-market losses since ...

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• 15 October

  US claim of currency manipulation tested in Treasury report

  

  Bloomberg The US Treasury is poised to render a verdict on President Donald Trump’s claim that China is manipulating its currency as a trade war between the two nations intensifies and rattles markets. While the US hasn’t designated China as a currency manipulator since 1994, Wall Street is bracing for the prospect that the Treasury Department will do so this ...

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• 15 October

  Netflix earnings will test waters for tech giants

  

  Bloomberg Beleaguered technology investors are looking to Netflix Inc. to stop the bleeding. The company’s earnings are poised to be even more closely watched than usual after last week’s market rout. Netflix is one of the first major US companies to report third-quarter results — and 2018’s best-performing FAANG stock — making it especially influential in the wake of a ...

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• 15 October

  Pound losses capped as ‘Brexit’ hopes linger

  

  Bloomberg The pound capped losses following a weekend of fruitless Brexit talks on conviction that the UK and the European Union would eventually reach a deal to avoid a chaotic divorce. Sterling was little changed in mid-morning trading in London as people familiar with the matter said there would be no further attempt to resolve the impasse before an EU ...

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• 15 October

  Carl Icahn blasts Dell plan to return to public markets

  

  Bloomberg Activist investor Carl Icahn has come out against Dell Technologies Inc.’s plan to return to public markets, arguing that the proposed transaction undervalues shares that track its stake in VMware Inc. The billionaire said he would solicit votes against the deal and potentially propose an alternative transaction allowing investors to cash out if they want. Icahn also disclosed in ...

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• 15 October

  Trump risks an even greater ‘chicken war’

  The staggering tariffs being levied on China will almost certainly test President Donald Trump’s claim that “trade wars are easy to win.” He might be right, but the president doesn’t seem to have contemplated a different question: What happens when trade wars come to an end? When one country imposes tariffs on another, the eventual resolution of the conflict does ...

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