September, 2018

• 30 September

  Mexico may buy US crude for first time

  Bloomberg Mexico may finally buy US crude oil for the first time ever. After three years of announcements, negotiations, and potential deals, Petroleos Mexicanos is seeking to buy a trial cargo of 350,000 barrels for its refineries in October. The much-anticipated deal has been in the making since 2015, when US exports were still banned and Mexico applied for a ...

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• 30 September

  ‘No way’ North Korea disarms without US trust, says diplomat

  

  Bloomberg Pyongyang won’t dismantle its nuclear weapons until it has “sufficient trust” with the US, North Korea’s top diplomat told the United Nations General Assembly, pressuring the Trump administration to drop its “coercive methods” such as sanctions. The remarks by North Korea Foreign Minister Ri Yong Ho underscored lingering friction between the nations amid signs their diplomats have resumed talks ...

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• 30 September

  Indonesia earthquake toll climbs above 800, may reach thousands

  Bloomberg The death toll from a 7.5 magnitude earthquake and tsunami that hit Indonesia’s island of Sulawesi climbed to more than 800, with casualties expected to reach into the thousands as authorities try to reach those trapped under collapsed buildings. Local media reports quoted Vice President Muhammad Jusuf Kalla as saying that he expected the toll to grow as he ...

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• 30 September

  Millions of Brazilian voters frustrated as centrists implode

  

  Bloomberg With Brazil heading into a two-horse presidential race between left and right, centrist candidates are losing their allies and millions of moderate voters are frustrated and at a loss as to whom to support. Former Sao Paulo Mayor Fernando Haddad of the leftist Workers’ Party over the past fortnight has more than doubled his support and is closing in ...

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• 30 September

  May fights for her job as Tory splits widen

  

  Bloomberg Theresa May is battling to assert her authority as UK prime minister after a disastrous start to her party’s annual conference threatened to explode into a full-blown leadership crisis. Before the event had even begun, May found herself struggling to contain a row over a massive data breach and to fend off a brazen challenge over Brexit from her ...

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• 30 September

  Congo oppn pledges unity and joint candidate at rally

  Bloomberg Seven key opposition leaders in the Democratic Republic of Congo pledged unity and promised to back a single candidate against President Joseph Kabila’s chosen successor in December’s election. Such an outcome would increase the chances of Kabila’s opponents defeating Emmanuel Ramazani Shadary, a former interior minister under European Union sanctions for his role in human rights abuses. The December ...

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• 30 September

  US stocks delivered best quarterly run in five years

  

  Bloomberg US stocks delivered the best quarterly run in almost five years, luring retail investors back into the longest bull market on record just as Wall Street started sounding the alarms. Individual investors drew down cash balances at brokerage accounts to record lows as the S&P 500 surged 7.2 percent in the three months last week. Meanwhile, big banks from ...

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• 30 September

  US-China tariffs to go all out, lowers yuan call: JP Morgan

  

  Bloomberg With little prospect of a restart for US-China trade talks, JPMorgan Chase & Co. now expects an escalation in tensions that will see higher American tariffs on all Chinese imports, sending the yuan sliding to its weakest against the dollar in more than a decade. “JPMorgan has adopted a new baseline that assumes a US-China endgame involving 25 percent ...

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• 30 September

  China’s manufacturers feeling pain as trade war escalates

  

  Bloomberg Two gauges of activity in China’s manufacturing sector worsened in September, reflecting the nation’s economic slowdown and the fallout from the trade war with the US. The official manufacturing purchasing managers index (PMI) stood at 50.8 in September versus 51.3 in August, lower than the median estimate of 51.2 in a Bloomberg survey of economists. The Caixin manufacturing PMI, ...

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• 30 September

  VTB-led group offers to match Arcelor’s Essar bid

  

  Bloomberg A VTB Capital-led consortium has offered to match ArcelorMittal’s 420 billion rupee ($5.8 billion) bid for Essar Steel India Ltd., heating up the long drawn battle for the biggest steel mill being sold under India’s new bankruptcy law. Numetal Ltd., the consortium led by VTB, is willing to revise its earlier bid of 370 billion rupees for the 10 ...

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