• Bangladesh plans to keep its budget loose for a third straight year, as the government seeks to boost spending to spur economic activity Link
    Bloomberg Markets Thu 03 Jun 2021 10:09

    The government proposes a 6.04 trillion taka ($71 billion) national budget for the year starting July 1, Finance Minister A.H.M. Mustafa Kamal said in parliament Thursday. The spending, which needs to be approved by lawmakers, represents a 12% increase from the current year’s revised plan.

  • China is allowing Jack Ma’s Ant Group to start operations at its consumer finance company Link
    Bloomberg Markets Thu 03 Jun 2021 09:59

    The new entity is essential for Ant’s most lucrative business. Regulators have demanded that the fintech group transfer its online lending operations and outstanding loans to the unit, which will be under more scrutiny. It’s an important step in the process of Ant’s overhaul as it transitions to become a

  • Turkey’s consumer inflation rate snapped seven months of increases in May, making it harder for the central bank governor to keep resisting President Recep Tayyip Erdogan’s pressure to begin cutting interest rates Link
    Bloomberg Markets Thu 03 Jun 2021 09:54

    Turkey’s consumer inflation rate snapped seven months of increases in May, making it harder for the central bank governor to keep resisting President Recep Tayyip Erdogan’s pressure to begin cutting interest rates.

  • Toronto’s housing market records its second consecutive month of slowing sales Link
    Bloomberg Markets Thu 03 Jun 2021 09:24

    The number of homes that traded hands in Canada’s largest city fell 8.9% in May from the month before, according to data released Thursday from the Toronto Regional Real Estate Board. The seasonally-adjusted average selling price for a home in the Toronto region still rose 1.1% from April, to C$1,061,987 ($882,300).

  • Global food prices extend their rally to the highest in almost a decade, heightening concerns over bulging grocery bills as economies struggle to exit the Covid-19 crisis Link
    Bloomberg Markets Thu 03 Jun 2021 09:09

    A United Nations gauge of world food costs climbed for a 12th straight month in May, its longest stretch in a decade. Higher food costs can accelerate broader inflation, complicating central banks efforts to provide more stimulus.

  • The world’s shipping lines are avoiding a key port in China hit by a Covid-19 outbreak, causing increased congestion at other seaports across the country that likely will delay the delivery of goods to the U.S. and Europe Link
    Bloomberg Markets Thu 03 Jun 2021 09:04

    The world’s shipping lines are avoiding a key port in China hit by a Covid-19 outbreak, causing increased congestion at other seaports across the country that likely will delay the delivery of goods to the U.S. and Europe.

  • As China battles to contain surging commodity prices, there’s a key factor giving the central bank some breathing room: factories are absorbing rising input costs rather than passing them on to consumers Link
    Bloomberg Markets Thu 03 Jun 2021 08:44

    Intense competition among smaller businesses, spurred by the rise of e-commerce, and soggy domestic demand means China’s factories are absorbing rising input costs rather than passing them on to consumers at home. Despite anecdotal reports of price increases, consumer inflation overall has been tame and looks set to remain that way.

  • RT @tracyalloway: New Odd Lots and it's a big one! @TheStalwart and I speak with behavioural economist @danariely about how he's using his…
    Bloomberg Markets Thu 03 Jun 2021 08:39
  • Two of China’s largest bad-debt managers have told the banking regulator they’re concerned about losing access to the dollar bond market in the wake of Huarong's turmoil Link
    Bloomberg Markets Thu 03 Jun 2021 08:19

    Two of China’s largest bad-debt managers have told the banking regulator they’re concerned about losing access to the dollar bond market in the wake of turmoil at China Huarong Asset Management Co., according to people familiar with the matter.

  • The European Union is set to roll out a first round of restrictions on Belarus this week over the forced landing of a Ryanair flight and the arrest of a journalist, sources say Link
    Bloomberg Markets Thu 03 Jun 2021 08:09

    The European Union is set to roll out a first round of restrictions on Belarus this week over the forced landing of a Ryanair flight between two of the bloc’s capitals and the arrest of a journalist, according to three diplomats familiar with the matter.

  • The U.K. markets regulator says significant numbers of crypto firms are withdrawing applications to register with the watchdog after struggling to meet its anti-money laundering standards Link
    Bloomberg Markets Thu 03 Jun 2021 07:49

    “A significantly high number of businesses are not meeting the required standards under the Money Laundering Regulations resulting in an unprecedented number of businesses withdrawing their applications,” the Financial Conduct Authority said in a

  • Paper losses from the bearish wagers on 10 of the most-shorted U.S. shares amounted to $4.5 billion, according to the co-founder of analytics provider Ortex Link
    Bloomberg Markets Thu 03 Jun 2021 07:29

    Paper losses from the bearish wagers on 10 of the most-shorted U.S. shares amounted to $4.5 billion Wednesday, according to Peter Hillerberg, co-founder of analytics provider Ortex. That includes $2.75 billion in unrealized losses for

  • RT @HelenCRobertson: Oil climbed as an industry report pointing to a decline in U.S. crude inventories reinforced optimism over the demand…
    Bloomberg Markets Thu 03 Jun 2021 07:24
  • RT @ZSchneeweiss: The world’s best hope to end the pandemic still needs more doses Link via @StephaniBaker @JamesPaton14…
    Bloomberg Markets Thu 03 Jun 2021 07:09

    The nonprofit Covax, which distributes Covid vaccines to mostly poor countries, has been saying for a year no one is safe until everyone is. Rich countries may finally be getting the message.

  • Got $10,000 to invest? This is what market veterans suggest buying right now Link
    Bloomberg Markets Thu 03 Jun 2021 06:14

    Get our new personal finance newsletter delivered weekly to your inbox. Sign up here.

    The hottest stocks right now are the wallflowers.

    For a while, high-flying tech stocks were the darlings of Wall Street pickers. Now, companies in industries that are far less glamorous are outperforming. These so-called value stocks — where the price is less than what the business’s fundamentals might suggest — may finally be having their day.

    The Vanguard Value ETF is up more than 19.1% for the year as of May 27, making the Vanguard Growth ETF’s 10.8% gain look relatively puny. A focus on value is one of the bigger sentiment shifts showing up among the money managers who shared their best ideas for where to stash $10,000 with Bloomberg.

    For investors who took — or want to take — some profits in growth stocks and find a new home in the equity markets for that cash, our five veteran investors offer recommendations...

  • Biden revisits Trump China measures, EU's vaccine rollout and Netanyahu losing grip on power. Here's what is moving markets Link
    Bloomberg Markets Thu 03 Jun 2021 06:09
    is on track to reach its target of inoculating 70% of adults in July, according to European Commission President Ursula von der Leyen. That’s gradually closing the gap with efforts in Britain, where Prime Minister Boris Johnson indicated that the nation remains on course to lift restrictions this month, while urging caution. Meanwhile, Germany is exploring ways to prevent a potential new wave after the summer, and it will probably need to buy Russia’s Sputnik V vaccine, officials said.

  • RT @Quicktake: Is #Covid19 still a threat in a post-vaccinated world? Drs. Peter Sandmann, Jody Lanard @EIDGeek, and @KirbyInstitute's Gre…
    Bloomberg Markets Thu 03 Jun 2021 05:29
  • NEW: The Covax initiative has raised more than $10 billion to vaccinate the world. But it still needs more doses — and fast. Read The Big Take ?? Link (via @BW)
    Bloomberg Markets Thu 03 Jun 2021 05:29

    The nonprofit Covax, which distributes Covid vaccines to mostly poor countries, has been saying for a year no one is safe until everyone is. Rich countries may finally be getting the message.

  • RT @crypto: .@hoffmang, president and COO at Chia Network, discusses the company's #cryptocurrency farming technology and how it could be g…
    Bloomberg Markets Thu 03 Jun 2021 04:03
  • Double-digit unemployment and slowly recovering finances: Here's how Covid has impacted young people around the world Link
    Bloomberg Markets Thu 03 Jun 2021 03:48

    Covid-19 hasn’t affected everyone equally. The virus has been deadliest for older people, but the pandemic-driven economic downturn wreaked havoc on the professional lives of many young people. In the U.S., stock market gains helped boost the wealth of senior workers and retirees while youth unemployment soared.

  • Jack Ma’s Ant Group is building a team to burnish its reputation with policy makers in the Asian markets on which its ambitions hinge Link
    Bloomberg Markets Thu 03 Jun 2021 03:38

    The Hangzhou-based firm set up a division with just under 10 staff to handle international government and policy matters, according to people with knowledge of the matter. Senior Vice President Chen Leiming is heading the division and is in the process of hiring, the people said, asking not to be identified because the matter is private.

  • JPMorgan applies for full control of its China securities venture Link
    Bloomberg Markets Thu 03 Jun 2021 03:28
    Goldman Sachs Group Inc., which has also started the process of getting clearance from regulators for full ownership in its securities venture, are competing to become the first Wall Street bank with full control after China relaxed ownership rules last year. Firms are adding staff and office space and expanding in everything from futures and brokerages to asset management with billions in potential profits to chase in the world’s most populous nation.

  • JUST IN: India ordered 300 million doses of the coronavirus vaccine from local manufacturer Biological-E Link
    Bloomberg Markets Thu 03 Jun 2021 03:23

    India ordered 300 million doses of the coronavirus vaccine from local manufacturer Biological-E, as Prime Minister Narendra Modi’s government comes under pressure from the nation’s Supreme Court to cover more of the population.

  • A probable link between the Pfizer-BioNTech vaccine and dozens of cases of heart inflammation in young men has been found by Israel health officials. Here's what you need to know about serious reactions to Covid vaccines Bloomberg Markets Thu 03 Jun 2021 03:03
    nearly 3 million worldwide. No pharmaceutical, however, is completely benign. The goal is to ensure the benefits outweigh the risks. So far, the vaccines have been connected to a relatively small number of cases of blood clots and serious, but treatable allergic reactions called anaphylaxis. Other concerns -- about vaccinations causing temporary facial paralysis, heart inflammation and otherwise unexplained deaths -- have either not proven justified or are still under investigation.

  • -Joe Biden to amend Trump’s China blacklist -The meme stock frenzy returns -Revival of the lab-leak theory risks upending any U.S.-China detente Here are some of the things to know at the start of Asia's trading day Bloomberg Markets Thu 03 Jun 2021 01:38
    plans to amend a U.S. ban on investments in companies linked to China’s military this week, after the Trump-era policy was challenged in court and left investors confused about the extent of its reach to subsidiary firms. Under Biden’s amended order, the Treasury Department will create
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