• European stocks open lower Link https://t.co/2vyA5y4FDl
    Bloomberg Markets Wed 10 Aug 2022 07:10

    Stocks and bonds declined on Wednesday amid caution ahead of US inflation data that will shape investor expectations for further Federal Reserve interest-rate hikes.

    A gauge of Asian equities headed for a three-week low, with technology stocks the biggest drag. Chinese shares dropped as inflation accelerated in July to the highest level in two years.

  • EDF seeks $8.5 billion as reimbursement from France after the government forced it to sell power at a discount to protect consumers from surging inflation Link
    Bloomberg Markets Wed 10 Aug 2022 07:05
    forced it to sell power at cut-rate prices to protect consumers from surging inflation.

    “Following an in-depth legal analysis, and in light of the losses incurred,” the company asked the Conseil d’Etat, France’s highest administrative court, to overturn the orders requiring it to sell electricity at a discount, EDF added in a

  • Japanese government bonds look set for further gains with both foreign and domestic investors seen returning to a market where the central bank has often been the only buyer this year Link
    Bloomberg Markets Wed 10 Aug 2022 07:00

    Japanese government bonds look set for further gains with both foreign and domestic investors seen returning to a market where the central bank has often been the only buyer this year.

    A pullback in bets on a Bank of Japan policy tweak resulted in

  • Hon Hai Precision, the maker of most of the world’s iPhones, posts a profit that beat estimates as demand for its cloud products helped it weather supply-chain snarls and sluggish smartphone demand Link
    Bloomberg Markets Wed 10 Aug 2022 07:00
    Apple Inc.’s biggest assembly partner reported net income of NT$33.3 billion ($1.1 billion) for the quarter through June, against the average projection for NT$30.8 billion. Revenue totaled NT$1.5 trillion, Hon Hai reported previously.

  • The world’s biggest tour operator TUI says it remains on course to post a profit this year even as Europeans suffer a cost of living squeeze Link
    Bloomberg Markets Wed 10 Aug 2022 06:55
    TUI AG said it remains on course to post a profit this year, with bookings and prices looking strong for the rest of the summer even as Europeans suffer a cost of living squeeze.

    The world’s biggest tour operator expects to report “significantly positive” underlying earnings before interest and tax for the 12 months through September, it reiterated Wednesday.

  • Stop & Shop owner Ahold Delhaize pulls plans to publicly list its Dutch e-commerce unit Bol due to volatile market conditions and declining internet sales Link
    Bloomberg Markets Wed 10 Aug 2022 06:50
    Bol.com due to volatile market conditions.

    The Stop & Shop owner is keeping its options open to pursue the initial public offering at a later date “when equity market conditions are more conducive,” according to comments published with its Wednesday

  • Commonwealth Bank of Australia posted an 11% jump in full-year profit as the country’s largest lender reported earnings that beat expectations Link
    Bloomberg Markets Wed 10 Aug 2022 06:45
    Commonwealth Bank of Australia, the country’s largest lender, posted an 11% jump in profit but warned that steeper borrowing costs and inflation were hitting consumer demand.

    The Sydney-based bank warned of a challenging outlook as the twin economic pressures worsened the cost-of-living burden, when it reported full-year earnings Wednesday. It posted a cash profit of A$9.6 billion ($6.7 billion) for the year through June, which was slightly higher than analyst expectations.

  • Goldman economists warn that Taiwan’s economy could take serious damage if tensions with China lead to broad and lasting disruptions in cross-strait trade Link
    Bloomberg Markets Wed 10 Aug 2022 06:45
  • Labor-starved Poland is spending billions to encourage Ukrainians to stay. Will they? Link
    Bloomberg Markets Wed 10 Aug 2022 06:45

    The call came at 6:30 a.m. on Feb. 24, just hours after Russia invaded Ukraine. It threw a lifeline to the Trushchenkov family. “Come, my apartment is yours from the beginning of next month,” said a friend, phoning from 230 miles away in Warsaw to offer a good deal on a sublet. So began the journey that brought 11 Trushchenkovs—six adults and five children—from across Ukraine to a cramped ground floor apartment in the Polish capital. “We only had room for toothbrushes and some gold,” says Olga, a 38-year-old mother of two, recalling her four grueling days of travel.

    In Poland, the Trushchenkovs relied on a country’s kindness. Deliveries of secondhand clothing arrived on their doorstep. They collected 500 zloty ($108) per child each month from the government. But their rent was 6,000 zloty, and they’d spent most of their cash during the escape. “All our savings went like water in the first few days as we had to pay for hotels and fuel,” says Zoia, the family’s 67-year-old...

  • UK consumer confidence rises for the first time in seven months, a YouGov survey finds Link
    Bloomberg Markets Wed 10 Aug 2022 06:45

    UK consumer confidence rose for the first time in seven months as the government brought forward measure to aid in a cost-of-living crisis, a survey by YouGov showed.

    Data from the polling company and the Center for Economics and Business Research showed a 2-point increase in confidence in July to a reading of 5.3 points. While that was below pre-pandemic levels, there were small gains for the outlook for household finances and job security. 

  • President Andres Manuel Lopez Obrador detailed plans to further deepen the military’s role in Mexican life, boosting efforts to bring the national guard under the control of the Defense Ministry Link
    Bloomberg Markets Wed 10 Aug 2022 06:15

    President Andres Manuel Lopez Obrador detailed plans to further deepen the military’s role in Mexican life, boosting efforts to bring the national guard under the control of the Defense Ministry.

    Mexico’s leader, who has already put the country’s ports and customs under military authority, acknowledged on Tuesday that the constitutional reform needed to make such a change is likely doomed since his party doesn’t have a super-majority in congress. But he said he may issue a decree or pass a legislative change by simple majority to the same effect and let the courts decide if it is legal. 

  • More rain is on tap for areas of South Korea as Seoul tried to drain flooded train stations and repair cut power lines after one of the worst storms in more than a century Link
    Bloomberg Markets Wed 10 Aug 2022 06:15

    More rain is on tap for areas of South Korea as Seoul tried to drain flooded train stations and repair cut power lines after one of the worst storms in more than a century hit the capital, killing at least nine and leaving about six others missing.

    President Yoon Suk Yeol, in a meeting on Wednesday, apologized to the nation for “inconveniences” caused by rainfalls that the weather agency said were some of the heaviest in at least 115 years. A day earlier, he asked authorities to recalibrate disaster management plans by taking into account the effects of global warming.

  • Half of UK adults with a possible cancer symptom do not contact their GP within six months, despite spotting changes to their body, research suggests Link
    Bloomberg Markets Wed 10 Aug 2022 06:10

    Half of UK adults with a possible cancer symptom do not contact their GP within six months, despite spotting changes to their body, research suggests.

    A YouGov poll of 2,468 people for Cancer Research UK found that just 48% of those who had experienced a red flag symptom - including coughing up blood, unexplained weight loss and a new or unusual lump - contacted their GP within half a year.

  • Russian inflation likely decelerated for a third month to the lowest since the invasion of Ukraine Link
    Bloomberg Markets Wed 10 Aug 2022 06:05

    Russian inflation likely decelerated for a third month to the lowest since the invasion of Ukraine, after consumer prices declined in consecutive weeks thanks to a stronger ruble and a seasonal drop in the cost of fruit and vegetables.

    International sanctions aimed at crippling Russia’s economy initially led to a brief currency shock and supply disruptions. A wave of panic buying that followed drove up inflation to more than quadruple the central bank’s 4% target. 

  • UK home buyers are stretching themselves, Europe's perilous winter, and Elon Musk sells Tesla shares. Here’s what people are talking about ? Link
    Bloomberg Markets Wed 10 Aug 2022 05:55

    The struggle of UK home buyers, Russia is scouring the globe for weapons, perilous winter in Europe, and Elon Musk sells Tesla shares. Here’s what people are talking about. 

    First-time home buyers in the UK are

  • China accused Taiwan’s ruling party of damaging the chances of peaceful reunification by pursuing “separatist” policies, as Beijing publishes its first white paper on its dispute with Taipei in two decades Link
    Bloomberg Markets Wed 10 Aug 2022 05:45

    China accused Taiwan’s ruling party of damaging the chances of peaceful unification, as authorities in Beijing attempted to keep the pressure on Taipei a week after US House Speaker Nancy Pelosi’s visit. 

    The Democratic Progressive Party helmed by President Tsai Ing-wen must change course to reduce tensions, the Taiwan Affairs Office in Beijing said, in its first white paper published since President Xi Jinping took power. The report said DPP leaders deepened the dispute by refusing to accept that both sides belong to “one China.”

  • NEW: "I've never, ever, seen this. It is insane." Record-setting heat is drying up major rivers across Europe, hitting a region already on the brink of recession. Read The Big Take ?? Link
    Bloomberg Markets Wed 10 Aug 2022 05:45

    In the midst of an arid summer that set heat records across Europe, the continent’s rivers are evaporating.

    The Rhine — a pillar of the German, Dutch and Swiss economies for centuries — has dried up to the point of becoming all but impassable at a key bottleneck, stymieing vast flows of diesel and coal. The Danube, which snakes its way 1,800 miles through central Europe to the Black Sea, is gummed up too, hampering grain and other trade.

  • JUST IN: Nearly three dozen people in China have been sickened by a newly identified virus - named "Langya" - that is carried by shrews Link
    Bloomberg Markets Wed 10 Aug 2022 05:30
    viruses, though there’s no evidence the pathogen can be transmitted from person-to-person. 

    The virus, named Langya henipavirus or LayV, was found thanks to an early detection system for feverish people with a recent history of exposure to animals in eastern China. The patients -- mainly farmers -- also reported fatigue, cough, loss of appetite and aches, with several developing blood-cell abnormalities and signs of liver and kidney damage. All survived. 

  • RT @BloombergAfrica: Deputy President William Ruto takes an early lead in the race to become Kenya’s next president as the authorities cont…
    Bloomberg Markets Wed 10 Aug 2022 05:30
  • Talk that SoftBank would be better off as a private company has re-surfaced after the Japanese investment powerhouse posted a record $23 billion loss Link
    Bloomberg Markets Wed 10 Aug 2022 05:10
    loss.

    SoftBank has evolved rapidly over the last ten years from a telecom company and strategic investor to the world’s biggest pool of tech capital. It’ll look even more like a pure investment house as it continues to buy back its own stock and sell or pare assets, including its stake in

  • Carlyle's global head of investor relations Nathan Urquhart is leaving the firm to become president at Coatue Management, sources say Link
    Bloomberg Markets Wed 10 Aug 2022 05:05
    Carlyle Group Inc.’s global head of investor relations Nathan Urquhart is leaving the firm to become president at Coatue Management, according to a letter to investors seen by Bloomberg News.

    New York-based Urquhart will start at Coatue in the coming months and will get involved in key management responsibilities, according to the letter, which confirmed an earlier Bloomberg News

  • All parts of the US supply chain — not just its ports — need to move to round-the-clock operations to alleviate snarl-ups and reduce overall costs, Biden’s supply-chain czar said Link
    Bloomberg Markets Wed 10 Aug 2022 05:05

    All parts of the US supply chain -- not just its ports -- need to move to round-the-clock operations to alleviate snarl-ups and reduce overall costs, President Joe Biden’s supply-chain czar said. 

    “If only you or only a terminal goes to 24/7, that’s interesting,” Stephen Lyons told Port of Long Beach Executive Mario Cordero in an interview Tuesday. “But if everybody -- including the warehousing community, all the other modes of transport -- moved to 24/7, or something more than today, that makes logical sense that you could move much more cargo in the same period of time.”

  • Two founders of a Hong Kong investment bank briefly became billionaires after a baffling 6,149% stock surge, only to see their paper fortunes plunge Link
    Bloomberg Markets Wed 10 Aug 2022 04:55

    Two founders of a little-known Hong Kong investment bank briefly became billionaires in recent days following a baffling stock surge, only to see their paper fortunes quickly tumble when the shares plunged. 

  • Prices of eggs, butter and other staples soared over the past year, according to analytics firm IRI Link
    Bloomberg Markets Wed 10 Aug 2022 04:40

    Inflation is wreaking havoc on breakfast, with egg prices at grocery stores soaring a whopping 47% in July over last year, according to retail analytics firm Information Resources Inc.

    Prices have been driven by one of the worst bird flu outbreaks in US history, killing more than

  • UK government departments require a £44 billion cash boost if they are to fully offset the impact of soaring prices, according to the Institute for Fiscal Studies Link
    Bloomberg Markets Wed 10 Aug 2022 04:35

    UK government departments require a £44 billion ($53 billion) cash boost if they are to fully offset the impact of soaring prices, according to the Institute for Fiscal Studies.

    In an analysis published Wednesday, the think tank said rampant inflation is expected to wipe out more than 40% of the planned real-terms increase in funding for public services over the next three years. 

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