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Bloomberg Boris Johnson’s decisive victory may prove to be a turning point not just for the UK but for the entire scorned European stock market. The Conservative Party’s win filled investors with optimism that a major political risk related to Brexit will soon be removed, sending the European equity benchmark near a record high. Goldman Sachs Group Inc lifted its …

Bloomberg Even though it wasn’t the trade deal some analysts hoped for, China dodged more tariffs, and that may be enough to spur a market rally. The onshore yuan may rise and the Australian dollar will be boosted by a potential advance in crude oil and industrial metals, according to Vijay Valecha, chief investment officer at Century Financial Consultancy in …

Bloomberg Renault SA offered Luca de Meo, who heads Volkswagen AG’s Spanish brand, the role of chief executive officer of the French carmaker, La Vanguardia reported, citing unnamed officials at the company. Renault has also told De Meo, who runs SEAT, that within two years he could take the helm of the group’s alliance with Nissan and Mitsubishi. Bloomberg previously …

Bloomberg Deutsche Bank AG is considering deep cuts to bonuses for this year as Chief Executive Officer (CEO) Christian Sewing seeks to eliminate billions of euros of costs in a radical restructuring. Germany’s largest lender may reduce discretionary compensation by as much as 20%, outpacing a 5% decline in the bank’s workforce this year, according to people with knowledge of …

Bloomberg A friendly lunch in Ottawa this week between Mark Carney and Prime Minister Justin Trudeau raises an interesting question: How large will the Bank of England (BOE) governor loom in the search for a successor at Canada’s central bank. It’s only a coincidence Monday’s meeting took place a few days after Stephen Poloz announced he won’t seek a second …

Bloomberg The offshore Chinese yuan staged its biggest rally in more than four months as the US reached a trade agreement with China, paving the way to at least a temporary end to tension that has roiled markets all year. The yuan advanced 1.2% to 6.9457 per dollar, the highest since July 31 after trimming a gain of as much …

Bloomberg SoftBank Group Corp has no plans to slow down its multibillion-dollar foray into Latin America. After investing between 6 billion reais ($1.5 billion) and 10 billion reais in 19 firms in the region in 2019, the Tokyo-based firm is planning on potentially making fewer but larger deals in the new year, SoftBank Group International managing partner Andre Maciel told …

Bloomberg Federal Reserve Vice Chairman Richard Clarida brushed aside news of weaker-than-expected retail sales in November and said the US economy looks headed for a solid 2020 based on a strong labour market and a robust consumer. “The US consumer’s never been in better shape in my professional career,” Clarida said in an interview with Fox Business Network, repeating an …

Bloomberg China’s central bank warned property speculators that “homes are for living in” as the regulator pledged to properly regulate the real estate market. The People’s Bank of China also said it will be “flexible” and “appropriate” in setting prudent monetary policy, and will boost financial support to manufacturers and the private sector, according to a statement after a meeting. …

Bloomberg California Governor Gavin Newsom rejected PG&E Corp’s proposed restructuring plan, dealing a major blow to the power giant as it tries to exit the biggest utility bankruptcy in US history. Newsom said in a letter to PG&E Chief Executive Officer Bill Johnson that the utility’s restructuring plan falls “woefully short” of the state’s requirements. The governor said any reorganisation …