📉 Bitcoin has dropped below $7,000 to its lowest level since May.
Cryptocurrencies have been under pressure in recent months as China takes steps to crack down on the space. https://bloom.bg/34oeZcp
🇨🇳 Even seasoned investors are getting spooked by a wave of defaults in one of China's richest provinces.
The murky ties between Shandong's private companies mean they could all be dragged down together. https://bloom.bg/38UvCzU
🍸 After tasting over 300 new bottles of spirits this year, here are 16 that are worth pride of place in your home bar. https://bloom.bg/38INFZC
Cryptocurrencies have been under pressure in recent months as China takes steps to crack down on the space. https://bloom.bg/34oeZcp
🇨🇳 Even seasoned investors are getting spooked by a wave of defaults in one of China's richest provinces.
The murky ties between Shandong's private companies mean they could all be dragged down together. https://bloom.bg/38UvCzU
🍸 After tasting over 300 new bottles of spirits this year, here are 16 that are worth pride of place in your home bar. https://bloom.bg/38INFZC
A Pakistani special court sentenced former President Pervez Musharraf to death for treason, following a six-year trial. He has the right to appeal in the country's Supreme Court. https://bloom.bg/2Ptkm5J
🇬🇧 Boris Johnson wants to change the law to block any more Brexit extensions, putting the threat of a no-deal split with the EU back on the table. https://bloom.bg/2suPFEd
💷 The pound slumped more than 1% on the news. https://bloom.bg/2YSLKNJ
🇬🇧 Boris Johnson wants to change the law to block any more Brexit extensions, putting the threat of a no-deal split with the EU back on the table. https://bloom.bg/2suPFEd
💷 The pound slumped more than 1% on the news. https://bloom.bg/2YSLKNJ
Bloomberg.com
Ex-Dictator Is First Pakistan Army General to Get Death Penalty
A Pakistani special court sentenced former military dictator and president Pervez Musharraf to death in absentia, ending a six-year long high treason case against him and delivering a historic verdict against the country’s powerful army.
✈ Boeing officially halted production of its troubled—and bestselling—737 Max Jet. While the company says workers won’t lose their jobs or be furloughed, the indefinite shutdown sent shockwaves through its supplier base: https://bloom.bg/2Eq6z9V
⛽ Details of the U.S.-China trade deal are starting to emerge. The unsigned deal includes China reaching purchases of $40 billion to $50 billion per year in agricultural commodities, a level some analysts have doubted is feasible. To help attain that figure, Beijing plans to restart purchases of ethanol: https://bloom.bg/2M57JeY
🏦 Some former Federal Reserve officials worry that loosening banking regulations happening at the same time of rate cuts could be creating an environment for another financial crisis: https://bloom.bg/38Mglkv
⛽ Details of the U.S.-China trade deal are starting to emerge. The unsigned deal includes China reaching purchases of $40 billion to $50 billion per year in agricultural commodities, a level some analysts have doubted is feasible. To help attain that figure, Beijing plans to restart purchases of ethanol: https://bloom.bg/2M57JeY
🏦 Some former Federal Reserve officials worry that loosening banking regulations happening at the same time of rate cuts could be creating an environment for another financial crisis: https://bloom.bg/38Mglkv
Bloomberg.com
Boeing Pauses 737 Max Production in Effort to Slow Cash Burn
Boeing Co. will halt production of the grounded 737 Max in January, a move that will deepen the crisis engulfing the planemaker, complicate its eventual recovery and ripple through the U.S. economy.
Hello, here’s what we’re reading (and watching) right now:
🇺🇸 Donald Trump wrote a blistering, six-page letter lashing out at House Speaker Nancy Pelosi, laying out his defense against charges he abused his power.
The U.S. House will vote on impeachment articles on Wednesday. Adoption of the measures would make Trump the third president in American history to be impeached and would set up a Senate trial in January. https://bloom.bg/38O4Nx9
📬 His nickname is The Sniper. Some analysts believe the delivery machine that Dave Clark built at Amazon could one day become an entirely new business and upend the market. This is how he did it: https://bloom.bg/2M5fphu
🎤 And where can you find the next K-pop stars? This trendy Seoul neighborhood — where even Russian dancers are trying their luck — might be a good place to start. https://bloom.bg/2PxnD4c
🇺🇸 Donald Trump wrote a blistering, six-page letter lashing out at House Speaker Nancy Pelosi, laying out his defense against charges he abused his power.
The U.S. House will vote on impeachment articles on Wednesday. Adoption of the measures would make Trump the third president in American history to be impeached and would set up a Senate trial in January. https://bloom.bg/38O4Nx9
📬 His nickname is The Sniper. Some analysts believe the delivery machine that Dave Clark built at Amazon could one day become an entirely new business and upend the market. This is how he did it: https://bloom.bg/2M5fphu
🎤 And where can you find the next K-pop stars? This trendy Seoul neighborhood — where even Russian dancers are trying their luck — might be a good place to start. https://bloom.bg/2PxnD4c
⚠ Australia just recorded its hottest day on record, with the average maximum temperature across the country reaching 40.9 Celsius (105.6 Fahrenheit) on Tuesday.
The country’s eastern seaboard has been grappling with smoke from devastating bushfires. https://bloom.bg/2txhXyB
🚗 Fiat Chrysler and Peugeot maker PSA agreed to $46 billion merger, in a deal that will create the world's fourth-biggest auto manufacturer. https://bloom.bg/2PWG8Oj
🌞 Since 2014, Bloomberg's Pessimist's Guide has imagined a roadmap of the world's coming worries. This year, we're asking you to look at what could go right. https://bloom.bg/2S04ae1
The country’s eastern seaboard has been grappling with smoke from devastating bushfires. https://bloom.bg/2txhXyB
🚗 Fiat Chrysler and Peugeot maker PSA agreed to $46 billion merger, in a deal that will create the world's fourth-biggest auto manufacturer. https://bloom.bg/2PWG8Oj
🌞 Since 2014, Bloomberg's Pessimist's Guide has imagined a roadmap of the world's coming worries. This year, we're asking you to look at what could go right. https://bloom.bg/2S04ae1
Bloomberg.com
Australia Just Experienced Its Hottest Day on Record
Australia recorded its hottest day on record as the country’s populated eastern seaboard grapples with smoke from devastating bushfires, while the rush to the relief of air conditioning puts pressure on a vulnerable power grid.
💰SoftBank Vision Fund is famous for making outsize bets on tech startups. But employees describe an environment of sycophancy toward founder Masayoshi Son, destructive political rivalries, harassment, compliance issues, and an abnormally high tolerance for risk: https://bloom.bg/2PyjnB8
🇺🇸 The U.S. House of Representatives is expected to vote to impeach Donald Trump today. It would make Trump only the third president in history to be impeached: https://bloom.bg/36PdQfv
📞The U.S. is weighing new limits on sales of chips and other vital components to China’s Huawei: https://bloom.bg/2tvViTb
🇺🇸 The U.S. House of Representatives is expected to vote to impeach Donald Trump today. It would make Trump only the third president in history to be impeached: https://bloom.bg/36PdQfv
📞The U.S. is weighing new limits on sales of chips and other vital components to China’s Huawei: https://bloom.bg/2tvViTb
Bloomberg
SoftBank Vision Fund Employees Depict a Culture of Recklessness
Masayoshi Son’s venture capital firm is famous for making outsize bets on tech startups. It has also been described as an environment of sycophancy and harassment.
❤1
🇺🇸 President Donald Trump became the third president in U.S. history to be impeached. That paves the way for a 2020 trial in the Republican-majority Senate which is almost certain to end in an acquittal. http://bloom.bg/2PCZV6g
🌆 The property firms of just four Hong Kong tycoons control HK$2.9 trillion in assets, greater than the size of the city's annual GDP. Explore our graphic to see the empires they've built—and why China made them scapegoats during recent protests. https://bloom.bg/2M95A20
🇨🇳 What comes next for China's economy? We asked some of the most prominent experts and they say the next decade will be tougher. https://bloom.bg/34EGQ81
🌆 The property firms of just four Hong Kong tycoons control HK$2.9 trillion in assets, greater than the size of the city's annual GDP. Explore our graphic to see the empires they've built—and why China made them scapegoats during recent protests. https://bloom.bg/2M95A20
🇨🇳 What comes next for China's economy? We asked some of the most prominent experts and they say the next decade will be tougher. https://bloom.bg/34EGQ81
Bloomberg.com
Trump Impeached on Two Counts by House, Setting Up Senate Trial
The historic votes on Wednesday evening, which won the support of almost all Democrats in the House chamber but not a single Republican, leave Trump as only the third president in U.S. history to be impeached -- and the only impeached president likely to…
🔴 Goldman Sachs is negotiating a settlement in the 1MDB scandal that would include an admission of guilt by an Asia subsidiary instead of the parent company: https://bloom.bg/2S4uXWB
🚀 Boeing is facing a huge test with the launch of its Starliner spacecraft. Success means NASA could resume manned flights next year. Failure means more Russian taxi rides for U.S. astronauts: https://bloom.bg/2S8K8hf
🚗 Our car columnist picked her favorite vehicles of 2019, including 2 new EVs: https://bloom.bg/2tx6Gy1
🚀 Boeing is facing a huge test with the launch of its Starliner spacecraft. Success means NASA could resume manned flights next year. Failure means more Russian taxi rides for U.S. astronauts: https://bloom.bg/2S8K8hf
🚗 Our car columnist picked her favorite vehicles of 2019, including 2 new EVs: https://bloom.bg/2tx6Gy1
Bloomberg.com
Goldman Sachs Is in Talks for Asia Unit to Admit Guilt in 1MDB
Goldman Sachs Group Inc. is negotiating a settlement of the 1MDB scandal that would include an admission of guilt by one of its subsidiaries instead of the parent company, according to people familiar with the matter.
🇨🇳🇭🇰 China's Communist Party has quietly built a $1.5 billion real estate empire in Hong Kong — and the city's government has exempted it from millions in taxes. Now it’s drawing increased scrutiny. https://bloom.bg/2rVfGwI
🗞 In Bloomberg Opinion, Noah Feldman writes about the problem with all those “Trump impeached” headlines: They’re not technically correct legal statements. “He isn’t impeached (past tense) until the articles go to the Senate and the House members deliver the message,” Feldman writes. https://bloom.bg/35EjgK0
🇦🇺 And Sydney’s skies are turning brown with smog, forcing tourists elsewhere. The smoke is even triggering buildings’ fire alarms, making workers evacuate offices and sending fire engines careering from one false alarm to another. https://bloom.bg/38Z3T0G
🗞 In Bloomberg Opinion, Noah Feldman writes about the problem with all those “Trump impeached” headlines: They’re not technically correct legal statements. “He isn’t impeached (past tense) until the articles go to the Senate and the House members deliver the message,” Feldman writes. https://bloom.bg/35EjgK0
🇦🇺 And Sydney’s skies are turning brown with smog, forcing tourists elsewhere. The smoke is even triggering buildings’ fire alarms, making workers evacuate offices and sending fire engines careering from one false alarm to another. https://bloom.bg/38Z3T0G
🇬🇧Andrew Bailey got picked to be the next Bank of England governor, guiding Britain’s economy through its post-Brexit transition. https://bloom.bg/2McWzoy
👍The U.K. economy is actually growing more strongly than previously estimated, new numbers revealed. https://bloom.bg/2sLpHfW
🎉In a year filled with poor economic data, trade headwinds and Brexit worries, European equities are ending on a high note. https://bloom.bg/2SiD6GK
👍The U.K. economy is actually growing more strongly than previously estimated, new numbers revealed. https://bloom.bg/2sLpHfW
🎉In a year filled with poor economic data, trade headwinds and Brexit worries, European equities are ending on a high note. https://bloom.bg/2SiD6GK
Bloomberg.com
Bailey Wins BOE Helm to Steer U.K. Through Brexit After Carney
Andrew Bailey will replace Mark Carney at the helm of the Bank of England after the U.K. government chose a candidate who has criticized European Union financial rules to lead the British economy in the next phase of Brexit.
🚀Boeing’s unmanned Starliner spacecraft failed to reach the International Space Station on its debut flight, dealing a blow to the aerospace giant and heaping uncertainty on NASA. https://bloom.bg/34HljvF
❗️1,275 days after Britain voted to leave the EU, Parliament has finally voted in favor of a prime minister’s Brexit plan. https://bloom.bg/34HldEj
🏙The Dutch Supreme Court ordered the government to cut greenhouse gas emissions by at least 25% next year, giving legal backing to the idea that climate change is a risk to human health. https://bloom.bg/2SbX8Tn
❗️1,275 days after Britain voted to leave the EU, Parliament has finally voted in favor of a prime minister’s Brexit plan. https://bloom.bg/34HldEj
🏙The Dutch Supreme Court ordered the government to cut greenhouse gas emissions by at least 25% next year, giving legal backing to the idea that climate change is a risk to human health. https://bloom.bg/2SbX8Tn
Bloomberg.com
Boeing Woes Mount as Capsule Space Station Docking Scrapped
Boeing Co. scrubbed plans for its CST-100 Starliner to rendezvous with the International Space Station on the capsule’s debut flight, raising doubts over whether the company will be able to ferry astronauts to the orbiting laboratory next year.
🛢 Aramco shares extended their losses for a fourth session. The oil giant's stocks have now given up about half of its gains following its historic trading debut. https://bloom.bg/2Sfx2is
🇺🇸 Elsewhere, new documents show Donald Trump asked about U.S. military aid to Ukraine a month before the call with Ukrainian President Volodymyr Zelenskiy that triggered the impeachment investigation into Trump. https://bloom.bg/35P6AzY
🌴 Meanwhile, have you ever wondered where the ultra-rich spend their Christmas break? We tracked their yachts to find out. https://bloom.bg/2SdeAah
🇺🇸 Elsewhere, new documents show Donald Trump asked about U.S. military aid to Ukraine a month before the call with Ukrainian President Volodymyr Zelenskiy that triggered the impeachment investigation into Trump. https://bloom.bg/35P6AzY
🌴 Meanwhile, have you ever wondered where the ultra-rich spend their Christmas break? We tracked their yachts to find out. https://bloom.bg/2SdeAah
Bloomberg.com
Aramco Stocks Give Up About Half of Gains Since Debut: Inside EM
Saudi Aramco shares extended their losses for a fourth session, reversing about half the gains accumulated from the rally following the company’s historic trading debut.
Here's what's making news:
🐷 China will cut import tariffs on goods including frozen pork and tech components starting from Jan. 1. The move isn’t directly related to the ongoing U.S. trade war. https://bloom.bg/34N2TcQ
📉 Asia’s best-performing currency, the Thai baht, is losing momentum. It had defied the broad weakness in regional currencies, but easing U.S.-China trade tensions are dampening the baht's appeal as a haven. https://bloom.bg/34O1G59
📡 Apple has a secret team working on satellites to beam data directly to your phone, bypassing wireless networks. Work on the project is still early, but CEO Tim Cook has shown interest in it, indicating it’s a company priority. https://bloom.bg/2Q97LE1
🐷 China will cut import tariffs on goods including frozen pork and tech components starting from Jan. 1. The move isn’t directly related to the ongoing U.S. trade war. https://bloom.bg/34N2TcQ
📉 Asia’s best-performing currency, the Thai baht, is losing momentum. It had defied the broad weakness in regional currencies, but easing U.S.-China trade tensions are dampening the baht's appeal as a haven. https://bloom.bg/34O1G59
📡 Apple has a secret team working on satellites to beam data directly to your phone, bypassing wireless networks. Work on the project is still early, but CEO Tim Cook has shown interest in it, indicating it’s a company priority. https://bloom.bg/2Q97LE1
A Saudi court sentenced five people to death for the murder of Jamal Khashoggi. Three others were given prison sentences.
The court didn't have enough evidence to incriminate officials close to Crown Prince Mohammed Bin Salman, including a top adviser who was removed from his post after the killing.
Khashoggi, a prominent insider and critic of the Saudi government, was killed at the kingdom's consulate in Istanbul last year. The murder continues to strain relations with key allies.
Read more: https://bloom.bg/2scMt0d
The court didn't have enough evidence to incriminate officials close to Crown Prince Mohammed Bin Salman, including a top adviser who was removed from his post after the killing.
Khashoggi, a prominent insider and critic of the Saudi government, was killed at the kingdom's consulate in Istanbul last year. The murder continues to strain relations with key allies.
Read more: https://bloom.bg/2scMt0d
Bloomberg.com
Five Sentenced to Death in Khashoggi Murder, Royal Aides Cleared
A Saudi court sentenced five people to death for the murder of government critic Jamal Khashoggi but ruled that last year’s assassination wasn’t premeditated and said it didn’t have enough evidence to incriminate two top officials close to Crown Prince Mohammed…
✈ Boeing CEO Dennis Muilenburg has resigned as CEO. The U.S. planemaker has struggled after its bestselling 737 Max jet was grounded after two accidents and its Starliner test launch failed to dock at the International Space Station: https://bloom.bg/2EMxz3t
💺 Here are eight ways travel will change in 2020: https://bloom.bg/2MqdlAS
📊 A lot happened in 2019. From political protests to economic trends, here’s how we documented the biggest data of the year: https://bloom.bg/2ZmwWXJ
💺 Here are eight ways travel will change in 2020: https://bloom.bg/2MqdlAS
📊 A lot happened in 2019. From political protests to economic trends, here’s how we documented the biggest data of the year: https://bloom.bg/2ZmwWXJ
Bloomberg.com
Boeing Ousts CEO, Picks Chairman to Map Exit From Max Crisis
Dennis Muilenburg was ousted as chief executive officer of Boeing Co., a once-unthinkable turning point for a U.S. industrial champion now engulfed in turmoil after two deadly crashes of its top-selling 737 Max jetliner.
💰 It’s been a good year for Asia’s richest man, Mukesh Ambani. The Indian tycoon added almost $17 billion to his wealth as of Dec. 23, the most in Asia, taking his net worth to about $61 billion. Alibaba founder Jack Ma’s net worth grew $11.3 billion, while Amazon tycoon Jeff Bezos lost $13.2 billion. https://bloom.bg/35TDVtE
🌵 Elon Musk is getting a laugh out of a marijuana joke that securities regulators didn’t find so funny months ago. Tesla climbed above $420 for the first time on Monday, prompting the billionaire to remark: "Whoa... the stock is so high lol." https://bloom.bg/2MnzT5e
🚗 They may have a cult following. They may have an eye-watering price tag. But are these the worst cars of 2019? https://bloom.bg/2sWPp17
🌵 Elon Musk is getting a laugh out of a marijuana joke that securities regulators didn’t find so funny months ago. Tesla climbed above $420 for the first time on Monday, prompting the billionaire to remark: "Whoa... the stock is so high lol." https://bloom.bg/2MnzT5e
🚗 They may have a cult following. They may have an eye-watering price tag. But are these the worst cars of 2019? https://bloom.bg/2sWPp17
Bloomberg.com
Asia’s Richest Man Added $17 Billion to His Fortune This Year
It’s been a good year for Asia’s richest man, Mukesh Ambani.
Huge parts of the world have been ravaged by anger, pollution, extreme weather and the reactions to them. Photos can really tell us a lot about the year of disruption and upheaval.
📸 Here are the best pictures from 2019. https://bloom.bg/396Z31C
📸 Here are the best pictures from 2019. https://bloom.bg/396Z31C
Bloomberg.com
The Year in Pictures 2019
Huge parts of the world were ravaged by anger, pollution, extreme weather and the reactions to them.
🚗 Uber co-founder and former CEO Travis Kalanick is stepping down from the board to focus on his new business and philanthropic endeavors.
Kalanick was ousted as CEO of the ride-hailing company in June 2017, giving up his effort to hold onto power as a torrent of self-inflicted scandals enveloped him and the company: https://www.bloomberg.com/news/articles/2019-12-24/uber-s-kalanick-to-leave-board-to-focus-on-new-business
Kalanick was ousted as CEO of the ride-hailing company in June 2017, giving up his effort to hold onto power as a torrent of self-inflicted scandals enveloped him and the company: https://www.bloomberg.com/news/articles/2019-12-24/uber-s-kalanick-to-leave-board-to-focus-on-new-business
Bloomberg.com
Uber’s Travis Kalanick to Leave Board to Focus on New Business
Uber Technologies Inc.’s former Chief Executive Officer Travis Kalanick is stepping down from the board, severing his last ties to the company he co-founded a decade ago and helped become one of the world’s most valuable, and controversial, startups.