Bloomberg A barrage of missile attacks targeted Kyiv and other locations across Ukraine, hitting civilians and critical infrastructure in what authorities called the broadest such assault since Russia invaded the country in February. At least one person was killed as residential buildings were struck in Kyiv, with strikes cutting the power supply to roughly half of the capital’s residents, Mayor ...
Read More »Biden meets unannounced with Turkey’s Erdogan
Bloomberg President Joe Biden had a brief, unannounced meeting Tuesday with Turkey’s president, Recep Tayyip Erdogan. The two men met on the sidelines of the Group of 20 summit in Bali, Indonesia. Turkish media posted pictures of them together on Twitter, but the White House didn’t announce the meeting in advance and US journalists accompanying Biden to the G-20 weren’t ...
Read More »Australia hails Xi meeting as step towards stabilising ties
Bloomberg Australian Prime Minister Anthony Albanese hailed a meeting with Chinese President Xi Jinping on Monday as a move toward normalizing ties that have spiraled in recent years. “This was another important step towards the stabilization of the Australia-China relationship,†Albanese said in a statement after meeting Xi in Bali on the sidelines of the Group of 20 summit for ...
Read More »Russia poised to agree on extending Black Sea grain deal
Bloomberg Russia is expected to agree to extend a United Nations-brokered deal allowing exports of Ukrainian grain and other farm products from the Black Sea, ensuring a vital flow of foodstuffs to the world market. Russia is likely to allow the deal to renew after its Nov. 19 expiration, according to four people familiar with the situation, all of whom ...
Read More »Xi seeks high-tech cooperation in summit with South Korea’s Yoon
Bloomberg Chinese President Xi Jinping called for accelerating negotiations on a trade deal and boosting cooperation in high-tech manufacturing in a meeting with South Korean President Yoon Suk Yeol, the first summit between leaders of the two countries in about three years. Xi told Yoon that China and South Korea should work together to maintain the global free-trade system ...
Read More »China maintains ample cash in system to help snap bond slump
Bloomberg China sought to maintain ample cash levels in its financial system with liquidity tools of different maturities, helping halt the worst government bond selloff in six years. The liquidity infusion this month, which was done with a combination of short, medium and long-term tools, exceeded the 1 trillion yuan maturity, according to the People’s Bank of China (PBOC). ...
Read More »India’s Paytm faces another reckoning after $10bn selloff
Bloomberg Paytm, India’s leading digital payments brand, faces another reckoning, a year after it recorded the grisliest initial public offering in India’s history. This week, the lock-up period for the company’s stock will expire, freeing investors to sell shares that haven’t yet been allowed onto the market. The biggest shareholders in One97 Communications Ltd., Paytm’s parent company, are Alibaba ...
Read More »Crypto regulation needs to be global, says BaFin head
Bloomberg Crypto assets need to be subject to global rules if they’re adopted by mainstream finance and expose banks and a wider swathe of investors to risk, Germany’s top regulator said. The recent crash in digital assets was well-timed given the ties between traditional finance and crypto are still limited, meaning it doesnt pose a risk to financial stability, ...
Read More »Chinese stocks in US rise again on triple whammy of positives
Bloomberg Chinese stocks listed in the US were set to rise for a fourth day, as traders digested a triple-whammy of positive news that has eroded the pessimism of a few weeks ago. The KraneShares CSI China Internet Fund, an exchange-traded product holding more than 40 Chinese stocks, rose 7.4% in premarket trading, extending its 17% gain in the ...
Read More »UK stocks most disliked among investors: Survey
Bloomberg Global equity investors remain most bearish on the UK’s stocks among major markets, Bank of America Corp (BofA) said, even after a partial recovery in British assets following September’s ‘mini budget’ turmoil. A net 25% of fund managers are underweight UK stocks, according to BofA’s latest survey. While that’s an improvement from last month — which saw a ...
Read More »