Bloomberg Pakistan’s politicians are defecting in increasing numbers to the party of opposition leader and former cricket star Imran Khan, a shift that shows his rising influence and prompted allegations he enjoys the support of the country’s powerful military. The intensified jockeying comes ahead of a national election on July 25. So far this year 248 politicians, including dozens of ...
Read More »Macron’s grand European dream is out of reach
European leaders will meet in Brussels at the end of June to discuss how much deeper to push the euro zone’s monetary union. While there’s been plenty of hype about the summit, it risks being a disappointment. Most of it will just confirm what’s already been agreed. And, in typical European fashion, many big questions will remain unresolved – until ...
Read More »Making the solar industry stronger
Remember how there was a glut of computer chips in 2008, and then the world stopped using computer chips? Yeah, me neither. That’s a good reason to discount your worries about the effects on solar power from recent policy blows on panel manufacturers by the US and Chinese governments. The falls in the share prices of some major producers have ...
Read More »Brexit Britain has noxious new cloud on horizon
The sun has finally brought Britain’s shoppers out of their post-Christmas gloom – a relief of sorts for those who worry about the damage that Brexit might inflict on the country’s economy. But while I’ve argued before that the despondency has been overdone, the recent spike in gasoline prices does leave cause for concern. Still, to stick with the sunshine ...
Read More »Alibaba incubates a health risk for global investors
Jack Ma just sowed the seed of another decacorn – a startup worth more than $10 billion – on the Hong Kong stock exchange. Largely ignored by analysts, Alibaba Group Holding Ltd.’s health unit suddenly woke from a long hibernation last month, soaring 58 percent in two weeks to reach a market value of $8.7 billion. Most of the rally ...
Read More »Volatility trading may be a crisis in the making
Like postmodern literature that eschews conventional plot, narrative, and characters, financial markets have become increasingly abstract and remote. Volatility trading offers a good example of why this is so dangerous. In February, Goldman Sachs Group Inc. reportedly made $200 million in profit on a single day from volatility trading. Anticipating increases, Goldman purchased volatility then sold it profitably to investors ...
Read More »Boeing is putting a $30bn deal to the test
Heads, Boeing Co. wins. Tails, aerospace suppliers lose. The planemaker recently announced the latest step in its push to grab more of its suppliers’ rich profit margins for itself. Boeing will partner with Safran SA to develop and service auxiliary power units, which are used to start the main engine and provide power to aircraft while on the ground. If ...
Read More »Facebook never learns from its own mistakes
The worst thing about the latest revelation involving Facebook Inc. and its questionable stewardship of people’s personal information is that the company has again shown that it never learns from its own mistakes. In an article published late on Sunday, the New York Times reported that dozens of hardware companies such as BlackBerry Ltd. and Apple Inc. had far more ...
Read More »Trade hopes sustain risk-on mood; ECB sinks bonds
Bloomberg Trade hopes and the end of easy money were the twin themes in trading on Wednesday, with stocks extending gains and bonds falling as this week’s risk-on mood endured. US equity futures climbed following advances across Asia on signs that major economies will step back from the brink of a trade war. More than half of companies in the ...
Read More »Oil near $65 as OPEC fears weigh against US stockpile drop
Bloomberg Oil traded near $65 a barrel as an industry report showing a drop in American crude stockpiles countered fears about a potential OPEC supply boost. Futures in New York fell 0.7 percent, following a 1.2 percent advance on Tuesday. The American Petroleum Institute was said to report nationwide crude inventories declined by over 2 million barrels last week. Meanwhile, ...
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