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Bloomberg Cooks on strike and cracked equipment are among the latest maladies to undermine Australia’s $200 billion push to become the world’s biggest liquefied natural gas (LNG) exporter. More than a year after the completion of a decade-long LNG construction boom, two of the seven marquee projects haven’t been able to work right, the nation’s east coast urban centers face …

Bloomberg Chinese developers are facing the biggest liquidity test in more than four years, exacerbating challenges brought on by stringent funding restrictions and a prolonged profitability drop. Cash reserves of the nation’s 50 largest-listed home builders were just enough to cover short-term debt as of June 30, the least since 2016 when China began deleveraging its economy, according to recent …

Bloomberg Chinese regulators vowed to accelerate the opening up of its capital markets and deepen reforms to attract more foreign investors. The regulator will expand the scope of investments allowed in the stock connect program link with Hong Kong, and allow foreign investors to trade more commodities futures products, China Securities Regulatory Commission Vice Chairman Fang Xinghai said at the …

Bloomberg Nancy Tengler has managed money for 35 years. She’s confident in her positions. When one of her companies reports good earnings, she expects it to go up. But nothing prepared her for what happened on Aug. 26 in Salesforce.com Inc., when its quarterly results ignited a paroxysm of buying that pushed the shares 26% higher in a day. Tengler’s …

Bloomberg A sell-off of technology shares in the US is reverberating in Canada, even though the sector makes up only a 10th of the nation’s stock market. The small contribution of tech stocks to Canada’s market helped the S&P/TSX Composite Index outperform its US counterpart: Canada was down 1.5%, while the S&P 500 Index plunged 3.5%. But as the rout …

Bloomberg Oil in New York closed below $40 a barrel for the first time in a month as a selloff in broader markets exacerbated concerns over weakening demand following a sluggish summer driving season. US benchmark crude futures tumbled nearly 4%, leading oil to post its worst week since June. Stocks weakened and the S&P 500 Index dropped more than …

HANNOVER / WAM Badr Al Olama, Head of the Organising Committee, Global Manufacturing and Industrialisation Summit (GMIS) has highlighted the urgent need for a global dialogue to shape the future of the industrial sector in light of the coronavirus (Covid-19) crisis. In a speech on the sidelines of the first day of the #GMIS2020 Virtual Summit, Al Olama said the …

Bloomberg India’s shrinking economy is not stopping foreign investors from pouring money into the nation’s stocks betting on a recovery. International buyers plowed a net $6 billion into shares in Asia’s third-largest economy in August, the most since March last year. That’s as all other markets in the region excluding China suffered net withdrawals during the month. Part of it …

Bloomberg Russia sees oil prices averaging $50 to $55 a barrel in 2021 as the development of Covid-19 vaccines spurs an economic recovery, said Energy Minister Alexander Novak. That would be an improvement from this year and enough to cover Russia’s budget, but still well below pre-pandemic levels and too low for many of Moscow’s OPEC+ allies. “Globally, big work …

Bloomberg Virgin Atlantic Airways Ltd will eliminate 1,150 more jobs to preserve its rescue funding as demand for long-distance flights remains depressed and Britain winds down its worker furlough program. The cuts take the number of posts lost since the start of the Covid-19 crisis to 4,700, or about 45% of the workforce. Hundreds of cabin crew will also be …