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Bloomberg The coffee market is looking increasingly bleak. While robusta futures rose on Tuesday, the gain followed the biggest daily slump in four months that sent prices to the lowest since 2010. The beans, favoured for instant drinks, have been pressured by a glut of coffee and money managers have never been so bearish. As well as a global surplus, ...

Bloomberg Donald Trump’s surprise announcement that US forces would stand aside if Turkey invades Syria sowed chaos in his administration, drew criticism from his allies in Congress and left Kurdish fighters feeling betrayed. Yet after a day of confusion, it wasn’t clear how much American policy had really changed. It was, in short, another example of how foreign policy gets ...

Bloomberg Gordon Sondland, the US ambassador to the European Union, on Tuesday cancelled his scheduled testimony before House impeachment investigators looking into President Donald Trump’s activities involving Ukraine. The State Department directed Sondland to cancel his scheduled testimony on Tuesday, according to a letter from his attorney. Robert Luskin, the lawyer representing Sondland, said his client was ready to appear ...

Bloomberg The blame game over the likely failure to reach a Brexit deal escalated, with Downing Street accusing German Chancellor Angela Merkel of making an agreement effectively impossible. The pound fell. According to a British official, Merkel told Prime Minister Boris Johnson that Northern Ireland must remain part of the EU’s customs union if he wants to secure a divorce ...

Bloomberg Russia’s government denied it has any troops in Mozambique, after reports that a Russian soldier was killed in the southern African country. “There are no Russian soldiers in Mozambique,” Kremlin spokesman Dmitry Peskov said on Tuesday in Moscow. Portuguese news agency Lusa reported that Mozambique received military equipment from Russia to help battle IS-linked insurgents. The support will assist ...

Bloomberg Hong Kong’s leader Carrie Lam said her government could handle growing violence without a military intervention by Beijing, but didn’t rule out seeking China’s help or invoking further emergency measures. “I still strongly feel that we should find the solution ourselves,” Lam told reporters on Tuesday, before a meeting of the city’s Executive Council. “That’s also the position of ...

Bloomberg Deutsche Bank AG intends to make about half its planned 18,000 job cuts in Germany as it relies on savings at the retail units to lower costs, according to people familiar with the matter. The lender employed about 41,700 people in its home market at the end of last year, out of a total of 91,700. Outside Germany, London ...

Bloomberg Bank of Montreal is gunning for the US investment-bank business that’s being surrendered by European firms like Deutsche Bank and Societe Generale. The Canadian lender expects to reach its goal of being a “Top 10” North American investment bank “dramatically” ahead of its five-year deadline, Dan Barclay, chief executive officer and group head of BMO Capital Markets, said in ...

Bloomberg Wirecard AG raised its long-term forecasts, saying it expects operating profit to climb to more than 3.8 billion euros ($4.2 billion) in 2025 on growth in online payments and partnerships with the likes of SoftBank Group Corp. That’s a boost of about 15% from a previous prediction for earnings before interest, taxes, depreciation and amortisation. Yet investors weren’t fully ...

Bloomberg Dealers on Tuesday took less than the full amount of cash available at the Federal Reserve Bank of New York’s two repurchase agreement operations, suggesting their liquidity needs are being met. The New York Fed took $38.85 billion of securities in its 14-day term repurchase agreement operation, less than the $45 billion on offer. It was the first of ...