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Showing posts with the label Bloomberg News.

China Says It'll Quickly Implement Trade Agreements With U.S.

Xi Jinping, left, with Donald Trump along with members of their delegations on Dec. 01. Photographer: Saul Loeb/AFP via Getty Images Photographer: Saul Loeb/AFP via Getty Images China said Wednesday the trade meeting with the U.S. was “very successful” and is “confident” of implementing the results agreed upon at the talks, but didn’t provide any further details on the outcome. China will start to quickly implement specific items where there’s consensus with the U.S., and will push forward on trade negotiations with the U.S. within the 90-day "timetable and road map." The Ministry of Commerce’s statement was the first official confirmation from China that there’s a 90-day window for the talks, although there

Elon Musk Has a Plan to Quiet Tesla Critics for Good I Bloomberg News By Lu Wang and Elena Popina When you think of companies going private, your first thought isn’t tech firms with no earnings and a $65 billion valuation. But from now on it will be after Elon Musk’s Tuesday afternoon bombshells . Tesla Inc.’s founder took annoyance with short sellers and his campaign against myopic thinking to new heights, tweeting that he has financing to take the electric-car maker private for $420 a share. The ensuing rally burned bears to the tune of $800 million. Take a look: Tesla’s crazy day, in one chart As a market operator, Tesla is a study in extremes. Its 47 percent annualized gain since 2010 has done nothing to quiet an exceedingly vici

Putin's Sanctioned Ally May Win Quarter of Russian Gold Reserves | Bloomberg News - January 25, 2017   @YFEDORN More stories by Yuliya Fedorinova     January 25, 2017, 5:00 AM GMT-5 January 25, 2017, 10:09 AM GMT-5 More than 100 auto factories closed under last two presidents Profitable carmakers now being lured with eased rules, taxes

Bloomberg News - June 3, 2016: Jobs day | Lew Warns on China | Commodity Bull Market | Stocks Rise Ahead of Payrolls Data | Trump Gets Low Key Endorsement.

Jobs Day   At 8:30 a.m. ET the most important data point in the lead up to the Fed's June meeting is published when the Labor Department releases the Jobs Report for May . The median estimate of economists surveyed by Bloomberg points to the payrolls climbing 160,000 in May, the same as in the previous month. One factor that will depress the number is the strike by workers at Verizon Communications Inc., which could affect the jobs print by as much as 40,000. Market-implied odds of a Fed hike in June have been falling in recent days, and now stand at 22 percent, down from as high as 35 percent at the beginning of last week. Federal Reserve Bank of Chicago President Charles Evans said in London this morning that he can see a case for holding rates until inflation reaches 2 percent. Lew warns on China   Treasury Secretary Jacob J. Lew has said that China's overcapacity is "distorting markets and important global commoditie

Bloomberg News - June 3, 2016: Brazil Exploding Debt-to-GDP Is Going to Become a Problem Soon.   Jonathan Levin, Ye Xie   Reining in Brazil’s mammoth budget is no small feat, no matter how good you are. Cut discretionary spending, and risk blowback from an already frustrated electorate. Raise taxes, you could exacerbate the nation’s crushing recession. Privatize government companies? Beware the wrath of the unions. Shrink social security? It’ll take decades to manifest itself on the nation’s balance sheet. And that doesn’t even start to address Brazil’s massive interest tab.

Bloomberg News - March 8, 2015: Leaked List Shows HSBC’s Swiss Arm Helped Putin Allies, Drug Lords and Fugitives Hide

Leaked List Shows HSBC’s Swiss Arm Helped Putin Allies, Drug Lords and Fugitives Hide (Bloomberg) -- The private-banking unit of HSBC Holdings Plc made significant profits for years handling secret accounts whose holders included drug cartels, arms dealers, tax evaders and fugitive diamond merchants, according to a report released Sunday by an international news organization. HSBC is among a handful of banks to face criminal prosecution in recent years for its role in a Swiss banking system that allowed depositors to conceal their identities, and in many cases dodge taxes or launder ill-gotten cash. The report, prepared by the Washington-based International Consortium of Investigative Journalists, revealed for the first time the massive sweep of HSBC’s private-banking arm as of 2007, when it controlled $100 billion in assets and served a swath of wealthy depositors from the elite to the illicit. HSBC shares fell 2.2 percent to 607.10 pence at 2:23 p.m. in London, giving the bank