August, 2018

• 6 August

  Google in talks with Tencent, Inspur, others for China cloud

  

  Bloomberg Google’s plans for China are even more ambitious than previously understood. The internet giant is in talks with Tencent Holdings Ltd., Inspur Group and other Chinese companies to offer its cloud services in the world’s second-largest economy, according to people familiar with the discussions. The discussions began in early 2018 and Google narrowed partnership candidates to three firms in ...

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• 6 August

  Facebook pushes online ads, then spends its cash on billboards

  

  Bloomberg Silicon Valley’s going old school. As tech companies like Facebook Inc. and Google vacuum up billions of dollars in online advertising, they’re pouring their own marketing dollars into billboards and other forms of outdoor signage. That’s driving growth in one of the oldest forms of marketing and is one reason why the category is the only traditional channel expected ...

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• 6 August

  US stocks fluctuate as dollar, bonds advance

  

  Bloomberg US stocks fluctuated and the dollar climbed versus most of its major peers after China signalled it won’t flinch in a trade war. Major American equity averages swung between gains and losses in trading 14 percent lower than the 30-day average at this time of day. PepsiCo Inc. edged higher after chief executive officer stepped down. The Bloomberg Dollar ...

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• 6 August

  India surges to record high, bank stocks gain

  

  Bloomberg Indian stocks extended recent gains amid an earnings season that has buoyed investor optimism about the outlook for companies’ profit growth and sent the benchmark index to record closes in eight of the last 11 trading sessions. The S&P BSE Sensex climbed 0.4 percent to 37,691.89 at close in Mumbai. As many as 12 out of the 19 sectoral ...

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• 6 August

  Bitcoin slips below $7,000

  Bloomberg Bitcoin slipped below $7,000 to its lowest level in three weeks, as seemingly positive sentiment surrounding the largest virtual currency soured over the weekend. The digital token fell as much as 6 percent to trade with a $6,000-handle for the first time since July 17. Last month’s renewed exuberance, which saw it rise by almost a third, appears to ...

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• 6 August

  Sanctions threat forces Iran to end effort to support rial

  

  Bloomberg Iran’s central bank, acting on the eve of US sanctions, scrapped most currency controls introduced this year in a bid to halt a plunge in the rial that has stirred protests against the government of President Hassan Rouhani. Under the measures, the central bank will allow the market to determine the rate of foreign-exchange transactions except the imports of ...

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• 6 August

  HSBC’s equities unit worst among banks amid surge for rivals

  

  Bloomberg HSBC Holdings Plc posted one of the worst equities-trading revenue performances among global banks in the second quarter amid an overall slump at its markets business. Revenue from stock trading at the Asia-focused bank fell 17 percent to $279 million, according to a company presentation. US banks posted a 14 percent average increase for the period and some of ...

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• 6 August

  Absa sees improvement in profit measure this year

  Bloomberg Absa Group Ltd. forecast that its return on equity, a measure of profit, will improve slightly this year, helped by the South African lender’s operations in the rest of the continent. While costs will improve by the end of the year, expenses are still likely to grow faster than income, the bank said. Absa, which rebranded from Barclays Africa ...

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• 6 August

  Romania leaves rates unchanged

  

  Bloomberg Romania unexpectedly left borrowing costs unchanged, looking past the European Union’s fastest inflation as the economy cools. The National Bank of Romania kept its benchmark interest rate at 2.5 percent on Monday. Three of 18 analysts in a Bloomberg survey predicted the decision, while 15 saw a quarter-point increase. Governor Mugur Isarescu was expected to hold a briefing in ...

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• 6 August

  Goldman mulls custody offering for crypto funds

  

  Bloomberg Goldman Sachs Group Inc. could offer a boost for the burgeoning universe of funds betting on cryptocurrencies. The firm is considering a plan to offer custody for crypto funds, according to people with knowledge of the matter. That means the bank would hold the newfangled securities on behalf of the funds, reducing risk for clients seeking to guard against ...

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