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Bloomberg The International Monetary Fund (IMF) urged Hong Kong’s government to boost spending to support the territory’s convulsing economy, citing a range of risks from trade tensions to political unrest. Greater fiscal support would help bolster growth while maintaining longer-term sustainability, the fund said in its latest regular review of the economy, known as an Article IV Consultation. “Government spending …

Bloomberg Almost a week after embattled Yes Bank Ltd unveiled details of its plans to raise $2 billion in capital, shareholders remain unconvinced that a deal will take place. Shares of the Mumbai-based lender have fallen about 8% since it announced the names of the investors for its proposed preferential issue. Doubts over key foreign bidders have triggered concerns that …

Bloomberg The euro is encroaching on the dollar’s territory as the world’s currency of global borrowing, but that doesn’t mean anyone wants to keep hold of it. “No one wants to hold euro cash as an asset anymore but everyone wants it as a liability,” George Saravelos, Deutsche Bank AG’s global head of currency research, wrote in a note. As …

Bloomberg The European Central Bank (ECB) has started supervising some of the world’s top securities firms’ businesses in the region, as they build up their operations across the European Union ahead of Brexit. European units of Goldman Sachs Group Inc, JPMorgan Chase & Co, Morgan Stanley and UBS Group AG entered the ECB’s oversight this year as a result of …

Bloomberg A prolonged glitch at HDFC Bank Ltd, an Indian lender well known for its digital services, could erode trust and hurt business as clients struggle to perform basic transactions. An unknown number of the Mumbai-based lender’s 49 million customers have been locked out of its online banking platform for the past three days, prompting dozens to vent their anger …

Bloomberg The pound reached the highest level in almost seven months as traders stepped up bets on a win for the Conservatives in next week’s election. The currency pushed above $1.30 as polls show the ruling Tories holding their lead over Jeremy Corbyn’s left-wing Labour Party. Sterling also advanced against all major peers as US president Donald Trump’s visit to …

Bloomberg US equity futures advanced with European stocks after a news report that China and America were moving closer to a trade deal, despite heated rhetoric. Treasuries and gold slipped. Contracts on three main American index futures rebounded after Bloomberg reported US negotiators expect a phase-one deal with China to be completed before tariffs are set to rise on December …

Bloomberg Alibaba Group Holding Ltd’s landmark $11 billion share sale and listing in Hong Kong on November 26 was galvanised by expectations the Chinese e-commerce giant will attract a vast pool of capital from its home country. But some investors caution against unrealistic expectations, especially by mainland investors, and highlight certain restrictions that still govern — and potentially curtail — …

Bloomberg After two years of stagnant growth, Indonesian stocks will hit a record in 2020, when President Joko Widodo’s policies to shore up the economy take effect, say analysts from JPMorgan and Morgan Stanley. JPMorgan, which says it’s the most bullish on the Street, sees the benchmark Jakarta Composite Index rallying 19% from the current level to a record 7,250 …

Bloomberg United Airlines Holdings Inc. ordered its first long-range Airbus SE A321neo jets, dealing a new setback to Boeing Co. as the US planemaker struggles through the grounding of its 737 Max. The carrier said it would take 50 of Airbus’s A321XLR jets, with deliveries to begin in 2024 — a year after the model’s planned debut. Valued at $7.1 …