• Tips for companies that pledged to do better on diversity Link
    Bloomberg Markets Tue 04 Aug 2020 13:02

    It starts with gathering data, say experts in diversity, equity, and inclusion (DEI). Ruchika Tulshyan, founder and chief executive officer of consulting company Candour in Seattle and author of The Diversity Advantage: Fixing Gender Inequality in the Workplace, suggests an internal audit. How many people of color does your organization employ, and how senior are they? Have you measured employee engagement levels by race or gender? Do you have performance reviews to indicate how fair and inclusive managers are?

  • Commerzbank’s chairman-elect Hans-Joerg Vetter has drawn shareholder ire even before he tackles the tricky task of finding a new CEO for the ailing bank Link
    Bloomberg Markets Tue 04 Aug 2020 12:17
    Commerzbank AG’s chairman-elect Hans-Joerg Vetter has drawn shareholder ire even before he tackles the tricky task of finding a new chief executive officer for an ailing bank notorious for its warring factions of investors.

  • Vehicle sales advance for a fourth straight month in China Link
    Bloomberg Markets Tue 04 Aug 2020 12:12

    Sales of passenger cars such as sedans and SUVs, as well as commercial vehicles, increased 14.9% in July from a year earlier to 2.08 million units, the China Association of Automobile Manufacturers said in a statement, citing preliminary figures. From January to July, vehicle sales declined by 12.7% to 12.3 million units. CAAM didn’t break out numbers for passenger cars or other vehicle types.

  • The attack on TikTok by Donald Trump opens a new front in the trade war Link
    Bloomberg Markets Tue 04 Aug 2020 12:07

    Two years of trade disputes between the U.S. and China have driven up the cost of consumer electronics, industrial equipment, soybeans, steel and washing machines. Now we are beginning to see what a tit-for-tat looks like when it comes for the internet.

  • Argentina and its largest creditors strike a deal to restructure $65 billion of debt, setting the stage for it to emerge from its third default since the turn of the century Link
    Bloomberg Markets Tue 04 Aug 2020 12:02

    Argentina and its largest creditors struck a deal to restructure $65 billion of debt, setting the stage for the South American nation to emerge from its third default since the turn of the century.

  • Here's a rundown of your top economic news today Link
    Bloomberg Markets Tue 04 Aug 2020 11:52
    causing pain for the most populous state’s labor market and portend a deterioration in the overall U.S. employment picture for JulyHouse Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin head into
  • Economists at Bank of America predict the BOE will reduce its key interest rate to zero in November Link
    Bloomberg Markets Tue 04 Aug 2020 11:37

    The Bank of England will reduce its key interest rate to zero in November and signal it may go further next year, according to economists at Bank of America Global Research.

  • Foreign investors are staying away from South Africa's bond market Link https://t.co/YJq6Gk6zz7
    Bloomberg Markets Tue 04 Aug 2020 11:27

    Non-resident bond holdings fell to 30.1% as of July 31, from 30.6% the previous month and as high as 37.3% in January, according to National Treasury data. Foreigners have sold a net 54 billion rand ($3.1 billion) of the debt this year, JSE Ltd. data show.

  • A bet against the U.S. dollar is mainly a bet on one thing - an early Covid-19 vaccine, BofA says Link
    Bloomberg Markets Tue 04 Aug 2020 11:22

    That’s because Europe and Asia have a higher chance of fresh waves of infections the longer it takes for a vaccine to be found, a scenario that’s bullish for the dollar, said David Woo, a strategist at the bank.

  • Killer Mike wants to save the few remaining Black-owned banks in America Link
    Bloomberg Markets Tue 04 Aug 2020 11:07
    Killer Mike, has been saying the same thing for years: America needs Black banks. But after George Floyd was killed by police in Minneapolis, Render is issuing another plea on behalf of the few Black-owned banks still standing. Once again, he’s urging fans to #BankBlack.

  • Grab is stepping up its range of financial service offerings, including consumer loans, aimed at existing users Link
    Bloomberg Markets Tue 04 Aug 2020 11:02

    Grab Financial Group, a unit of the Singapore-based company, will roll out a micro-investment product called AutoInvest that allows users to set aside as little as a dollar into third-party funds via Grab’s app. It will also offer consumer loans, letting users borrow money from Grab’s bank partners.

  • Mining giant Rio Tinto says it missed chances to avoid the destruction of a 46,000-year-old Aboriginal heritage site in Australia Link
    Bloomberg Markets Tue 04 Aug 2020 10:37

    Explosions in late May to access areas of high-grade iron ore at the Brockman 4 mine in Western Australia’s Pilbara region, flattened two rock shelters in the Juukan Gorge, where archaeologists had found evidence that parts of the site were used by humans as long as 46,000 years ago.

  • GEMS Education raises $150 million in debt to boost its private schools in the Middle East during the coronavirus pandemic Link
    Bloomberg Markets Tue 04 Aug 2020 10:32

    The financing is being provided by an existing investor that Dubai-based GEMS didn’t identify in a term sheet sent to investors on Monday. The “incremental” funding will be used to support working capital needs, the company said.

  • ByteDance founder Zhang Yiming says Trump's real goal is to kill off TikTok Link
    Bloomberg Markets Tue 04 Aug 2020 10:27

    In his second missive to the troops in as many days, the billionaire entrepreneur said a government probe into the company’s 2017 purchase of Musical.ly, -- TikTok’s progenitor -- was intended to spur a complete shutout. Escalating U.S.-China tensions had prompted American politicians to warn that the app posed a potential national security threat and call for an investigation into whether U.S. user data was being shared with Beijing, accusations that ByteDance has repeatedly rejected.

  • “Our reserve levels aren’t ideal, but neither are they disastrous” Link
    Bloomberg Markets Tue 04 Aug 2020 10:12

    Mesa pledged to defend the boliviano’s value and said the central bank still has enough reserves to prevent a devaluation from its current level of around seven per dollar, where it has been fixed since 2008.

  • ECB chief economist Philip Lane warns that a global resurgence of coronavirus cases will weigh on consumers and businesses for some time Link
    Bloomberg Markets Tue 04 Aug 2020 10:02

    European Central Bank chief economist Philip Lane cautioned against reading too much into recent economic data and warned that a global resurgence of coronavirus cases will weigh on consumers and businesses for some time.

  • Share sales by listed Indian firms are at a three-year high, and JPMorgan is right on top of it Link
    Bloomberg Markets Tue 04 Aug 2020 09:27

    The U.S. bank has worked on the two largest follow-on offerings in India this year and currently holds a 19% market share, according to Bloomberg League Tables. It’s the first time JPMorgan has topped the ranks since at least 2009, having almost tripled its share from last year. Citigroup Inc. usually dominates this market, ranking number one in seven of the past 11 years, the tables show.

  • Japan’s biggest banks are broadly on course to meet their modest profit goals this fiscal year Link https://t.co/rcqes5YpCx
    Bloomberg Markets Tue 04 Aug 2020 09:02

    It’s early days, but Japan’s biggest banks are broadly on course to meet their modest profit goals this fiscal year after bad-loan costs remained within their expectations in the first quarter.

  • RT @technology: Rising electric-car sales in Europe helped South Korean battery makers sell more in the first six months of the year https:…
    Bloomberg Markets Tue 04 Aug 2020 08:42
  • China’s soaring technology stocks can’t quite get over the line Link
    Bloomberg Markets Tue 04 Aug 2020 07:07

    The ChiNext Index is struggling to top its closing peak from July, which was the highest level since November 2015. The gauge was briefly above that level on Tuesday before faltering, losing 0.8% as of the midday break.

  • Here’s the latest news and analysis from Bloomberg Economics Link
    Bloomberg Markets Tue 04 Aug 2020 05:56
    would be critical for the U.S. economy as lawmakers continued to negotiate the contours of additional aidAustralia’s spiraling Covid-19 outbreak and the closure of large tracts of the southeastern state’s economy is
  • Sensex set to snap losing run as global rally eases virus fears Link
    Bloomberg Markets Tue 04 Aug 2020 05:46

    The S&P BSE Sensex rose 1% to 37,324.84 as of 10:25 a.m. in Mumbai. The gauge had declined in six of the last seven sessions as some investors judged its rebound from March lows as overdone in the backdrop of the world’s third-highest number of coronavirus cases. The NSE Nifty 50 Index also rose 1% today.

  • Treasury volatility is around record lows Link
    Bloomberg Markets Tue 04 Aug 2020 05:36

    While U.S. bonds have gained to touch record-low yields for short-term debt, volatility fell to a historic trough on Thursday and held close to it on Friday, according to the ICE BofA MOVE index. By contrast, the greenback has tumbled and gold soared over recent weeks on fears that inflationary forces may be set for a resurgence. Treasuries are so far proving to be immune, thanks to the Federal Reserve’s enormous stimulus and signs that it will keep rates low for years to come.

  • Virgin Galactic is planning to raise $460 million by selling shares and will delay plans to carry founder Richard Branson into space until early next year Link
    Bloomberg Markets Tue 04 Aug 2020 05:16

    Since Virgin Galactic went public in October, investors have watched keenly for updates on when the company will be ready to begin regular flights -- and follow through on its vision of fostering space tourism. Virgin Galactic blamed the latest delay on the coronavirus pandemic, which has limited the number of employees who could gather at company locations in Mojave, California, and New Mexico.

  • -Japan, Australia and South Korea stocks ?? -U.S.-China tensions simmer, dollar holds earlier gains -Australia’s 10-year bond yield ?? to 0.85% -Oil ?? to $40.69 Link https://t.co/gNUtyRrJt5
    Bloomberg Markets Tue 04 Aug 2020 05:01

    Asian stocks advanced Tuesday, on track for their biggest gain in two weeks, after a technology-fueled rally in the U.S. amid positive economic data and the potential for further stimulus. The dollar held gains.

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