October, 2018

• 1 October

  GE’s $500bn market ‘loss’ is like erasing Facebook

  

  Bloomberg On August 28, 2000, Apple’s hottest product was a candy-coloured computer, Donald Trump was a New York real estate mogul and General Electric was worth some $600 billion. Apple and Trump have gone on to greater things. GE? It’s on the verge of a staggering milestone: a half-trillion dollars in market value wiped out since that all-time high 18 ...

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• 1 October

  Tesla shares rise as SEC lets Musk stay in CEO role

  

  Bloomberg Tesla Inc. jumped in pre-market trading after founder Elon Musk settled a lawsuit brought by regulators over his August tweet storm, reassuring investors he’ll still be calling the shots at the electric-car maker struggling to meet production goals. Under the agreement with the US Securities and Exchange Commission, Musk and the company each will pay a $20 million penalty, ...

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• 1 October

  Aston Martin pares IPO targets ahead of listing

  

  Bloomberg Aston Martin pared back its supercharged stock-market ambitions ahead of a planned initial public offering this week, lowering the top end of its targeted range by about 11 percent. The new goal is 18.50 to 20 pounds ($24-$26) per share, the luxury car maker said in an emailed term sheet. Previously, the company had set a range of 17.50 ...

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• 1 October

  UK manufacturing growth picks up

  Bloomberg UK manufacturing growth unexpectedly picked up in September, rounding off the third quarter on an upbeat note. IHS Markit’s Purchasing Managers Index rose to 53.8 from a revised 53 in August and beating estimates for a drop to 52.5. Growth in output and new orders accelerated, while exports saw a modest recovery after a slump the previous month. “September ...

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• 1 October

  Most expensive hotel room in US costs $75,000 a night

  

  Bloomberg With a price tag of $75,000 a night, the Mark Hotel is now offering the most expensive hotel suite in America. Built in 1927, this iconic Upper East Side hotel underwent a major renovation from 2006 to 2009. While the historic exterior was untouched, the entire inner workings of the building were replaced, with interiors rethought by famed designer ...

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• 1 October

  How renewables lead to a world of peak energy

  

  It can be hard to get your head around just how much energy the world uses. Expressed in terms of oil, it was equivalent to almost 14 billion metric tons of the stuff in 2017. That’s like burning through all of Russia’s proved reserves in the space of 12 months, which is, in technical terms, a lot. But there’s an ...

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• 1 October

  Globalists will love Trump’s new Nafta deal

  

  For the group of people meant to be enemies of President Donald Trump’s trade agenda, the revised North American trade deal looks pretty good. Despite the new name (the US-Mexico-Canada Agreement, or USMCA) dropping any references to trade, let alone freedom, the tariff rates on imports from Canada and Mexico are still a mass of zeroes. The main new element ...

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• 1 October

  Forget tantrums, emerging markets are the haven now

  Just as the Federal Reserve steadily picks up the pace of rate increases, Wall Street’s quantitative strategists are telling clients to sell US stocks and buy into emerging markets. US central bankers are increasingly confident in their view of the economy. Of the Fed’s 16 voting members, 12 are advocating for one last rate increment this year, bringing the 2018 ...

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• 1 October

  For Fed, ignoring Trump is simply a good policy

  The Federal Reserve’s decision to raise interest rates was largely a nonevent, given how thoroughly markets had expected it. Nonetheless, it offered a comforting reminder that Fed officials know how to do their job — which these days means ignoring public statements from the chief executive and focusing on the economy. For decades, US presidents have refrained from criticising the ...

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• 1 October

  Americans could learn to live without ‘Made in China’

  

  President Donald Trump’s latest round of tariffs on China is essentially a tax on Americans, who will pay more for some goods. It’s not a huge cost increase, though, and it might help bring back some of the jobs eliminated by Chinese imports. As a consumer, living without “Made in China” appears to be daunting. In 2005, when US goods ...

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