📌 The U.S. will likely keep existing tariffs on billions of dollars in Chinese goods until after the American presidential election in November, sources tell Bloomberg News. Any move to cut those levies will depend on Beijing's compliance with the phase one trade deal. https://www.bloomberg.com/news/articles/2020-01-14/china-tariffs-to-stay-put-until-after-u-s-election-despite-deal
🚗 An analyst who downgraded Tesla in October — weeks before the electric carmaker posted a shock profit — is expressing regret. But he still doubts it deserves such a rich valuation. https://www.bloomberg.com/news/articles/2020-01-15/tesla-skeptic-with-downgrader-s-remorse-digs-in-over-valuation
📉 Meanwhile in markets, Asia stocks retreated on signs that U.S.-China tensions remain high just hours before a trade deal is due to be signed Wednesday. Oil declined while the yen and Treasuries steadied. https://www.bloomberg.com/news/articles/2020-01-14/asian-stock-futures-mixed-u-s-shares-slip-markets-wrap
🚗 An analyst who downgraded Tesla in October — weeks before the electric carmaker posted a shock profit — is expressing regret. But he still doubts it deserves such a rich valuation. https://www.bloomberg.com/news/articles/2020-01-15/tesla-skeptic-with-downgrader-s-remorse-digs-in-over-valuation
📉 Meanwhile in markets, Asia stocks retreated on signs that U.S.-China tensions remain high just hours before a trade deal is due to be signed Wednesday. Oil declined while the yen and Treasuries steadied. https://www.bloomberg.com/news/articles/2020-01-14/asian-stock-futures-mixed-u-s-shares-slip-markets-wrap
Bloomberg
U.S. Won’t Cut More China Tariffs Until After November Vote
Existing tariffs on billions of dollars of Chinese goods coming into the U.S. are likely to stay in place until after the American presidential election, and any move to reduce them will hinge on Beijing’s compliance with the terms of a phase-one trade accord…
📝 The U.S. and China signed what they’re billing as the first phase of a broader trade pact amid persistent questions over whether Trump’s efforts to rewrite the economic relationship with Beijing will ever go any further: https://bloom.bg/35SLEY9
🇺🇸 Here are some key topics covered in the U.S.-China phase one trade deal that was signed in Washington: https://bloom.bg/387C59l
📈 U.S. stocks traded near record highs as investors assessed the details of the partial trade deal with China: https://bloom.bg/2u5GYBe
🇺🇸 Here are some key topics covered in the U.S.-China phase one trade deal that was signed in Washington: https://bloom.bg/387C59l
📈 U.S. stocks traded near record highs as investors assessed the details of the partial trade deal with China: https://bloom.bg/2u5GYBe
Bloomberg.com
U.S. and China Sign Phase One of Trade Deal
The U.S. and China signed what they billed as the first phase of a broader trade pact on Wednesday amid persistent questions over whether President Donald Trump’s efforts to rewrite the economic relationship with Beijing will ever go any further.
❤1
🇨🇳🇺🇸 The $95 billion centerpiece of the U.S.-China trade deal is already in doubt. Traders are skeptical about Beijing's pledge to buy additional American commodities as part of the phase one agreement. https://bloom.bg/2TyZixj
💊 Japan has confirmed the first case of a new SARS-like virus in a traveler who visited the Chinese city of Wuhan, where the outbreak started. The pneumonia-causing virus has hospitalized dozens of people, killing one. https://bloom.bg/30ohdYM
👟 Reports that Nike’s Vaporfly sneakers may be banned from competition by World Athletics might displease athletes, but could be good news for its rivals. The shoes' thick soles incorporate carbon-fiber plates, which are said to give runners more bounce. https://bloom.bg/2RoiGdk
💊 Japan has confirmed the first case of a new SARS-like virus in a traveler who visited the Chinese city of Wuhan, where the outbreak started. The pneumonia-causing virus has hospitalized dozens of people, killing one. https://bloom.bg/30ohdYM
👟 Reports that Nike’s Vaporfly sneakers may be banned from competition by World Athletics might displease athletes, but could be good news for its rivals. The shoes' thick soles incorporate carbon-fiber plates, which are said to give runners more bounce. https://bloom.bg/2RoiGdk
😢 They’ve had an uneasy relationship since 1973, but the European Union is going to miss the U.K. when it’s gone. https://bloom.bg/2QZ7p4m
🇬🇧 London’s battle to remain a global financial hub now rests on a once-obscure process controlled by the EU. https://bloom.bg/36XPssp
💷 Meanwhile, the cost of the U.K.’s productivity crisis is already higher than “even the worst-case Brexit scenario,” according to Bank of England Chief Economist Andy Haldane. https://bloom.bg/2RmktQj
🇬🇧 London’s battle to remain a global financial hub now rests on a once-obscure process controlled by the EU. https://bloom.bg/36XPssp
💷 Meanwhile, the cost of the U.K.’s productivity crisis is already higher than “even the worst-case Brexit scenario,” according to Bank of England Chief Economist Andy Haldane. https://bloom.bg/2RmktQj
Bloomberg.com
The European Union Is Going to Miss the U.K. When It’s Gone
British officials played an important role—never highlighted at home—in helping the alliance function.
✅ Donald Trump’s impeachment moves to the GOP-controlled Senate. The proceedings will begin formally with a show of pageantry that includes the reading of two impeachment articles and U.S. Chief Justice John Roberts swearing in 100 senators as jurors: https://bloom.bg/35Wtx3K
💰 The White House budget office violated federal law when it withheld about $214 million appropriated by Congress to the Defense Department for aid to Ukraine, the Government Accountability Office said: https://bloom.bg/3afx9kG
📈 The record-setting rally in U.S. stocks accelerated in the wake of Wednesday’s China trade deal, shaking off any concerns about impeachment: https://bloom.bg/2NyOkno
💰 The White House budget office violated federal law when it withheld about $214 million appropriated by Congress to the Defense Department for aid to Ukraine, the Government Accountability Office said: https://bloom.bg/3afx9kG
📈 The record-setting rally in U.S. stocks accelerated in the wake of Wednesday’s China trade deal, shaking off any concerns about impeachment: https://bloom.bg/2NyOkno
Bloomberg.com
Trump’s Impeachment Trial Kicks Off With GOP Moderates Under Pressure
Donald Trump’s impeachment moves to the GOP-controlled Senate where the president and Democrats will battle over a small group of Republicans whose votes will determine the course of a trial on whether he should be removed from office.
💰 Nobody makes money like Leon Black, the private equity CEO with a fearsome reputation. The ruthless founder of Apollo skates on the edges of other people’s catastrophes and manages to walk away richer. https://bloom.bg/2Tuz4M7
📈 And Alphabet has joined the elite $1 trillion club. A rally in the stock took its valuation above the milestone for the first time on Thursday. Only two other U.S. companies have made it past that threshold — Apple and Microsoft — while the list is topped by Saudi Aramco. https://bloom.bg/3ahbIj9
📈 And Alphabet has joined the elite $1 trillion club. A rally in the stock took its valuation above the milestone for the first time on Thursday. Only two other U.S. companies have made it past that threshold — Apple and Microsoft — while the list is topped by Saudi Aramco. https://bloom.bg/3ahbIj9
Iran's Supreme Leader Ayatollah Ali Khamenei says the country delivered a "slap to the U.S.'s image as a superpower" in this month's military confrontation. https://bloom.bg/2u7J8jL
America's days as pace-setter for the world economy may be coming to an end. https://bloom.bg/373tpke
Jack Dorsey asked Elon Musk how to fix Twitter. Musk's suggestion: identify the bots. https://bloom.bg/376kAWI
America's days as pace-setter for the world economy may be coming to an end. https://bloom.bg/373tpke
Jack Dorsey asked Elon Musk how to fix Twitter. Musk's suggestion: identify the bots. https://bloom.bg/376kAWI
Bloomberg.com
Khamenei Says Iran Strike Delivered a ‘Slap’ to the U.S. Superpower Image
Supreme Leader Ayatollah Ali Khamenei said Iran had delivered a “slap to the U.S.’s image as a superpower” in this month’s military confrontation, seeking to rally Iranians around an embattled establishment as he led Friday prayers in Tehran for the first…
💰 Trump’s tax cut has saved the six biggest U.S. banks $32 billion: https://bloom.bg/2NBJTZj
🚗 European carmakers once dismissed Tesla as a feeble upstart. Now Elon Musk is building a massive factory right in their backyard: https://bloom.bg/2R6Nwsl
👗 A decade ago Forever 21 was a fast fashion empire. Now it's bankrupt and its eccentric owners might have to give up control: https://bloom.bg/3amDx9B
🚗 European carmakers once dismissed Tesla as a feeble upstart. Now Elon Musk is building a massive factory right in their backyard: https://bloom.bg/2R6Nwsl
👗 A decade ago Forever 21 was a fast fashion empire. Now it's bankrupt and its eccentric owners might have to give up control: https://bloom.bg/3amDx9B
Bloomberg.com
Trump Tax Cut Hands $32 Billion Windfall to America’s Top Banks
Savings for the top six U.S. banks from President Donald Trump’s signature tax overhaul accelerated last year, now topping $32 billion as the lenders curbed new borrowing, pared jobs and ramped up payouts to shareholders.
Germany has taken first place in the 2020 Bloomberg Innovation Index, breaking South Korea’s six-year winning streak.
Singapore climbed to third place, while the U.S. fell one notch to No. 9.
The index analyzes dozens of criteria using seven metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies.
Read more: https://bloom.bg/2uX3ix5
Singapore climbed to third place, while the U.S. fell one notch to No. 9.
The index analyzes dozens of criteria using seven metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies.
Read more: https://bloom.bg/2uX3ix5
There's now evidence a mystery SARS-like virus with more than 200 confirmed cases in China is being spread from person to person: https://bloom.bg/30zJsE2
The world’s richest 1% have more than twice the wealth of the rest of humanity combined, says Oxfam: https://bit.ly/2RxueLJ
Cryptocurrency skeptic Peter Schiff says he's lost all of his Bitcoin holdings because his digital wallet is rejecting his password: https://bloom.bg/30DemLz
The world’s richest 1% have more than twice the wealth of the rest of humanity combined, says Oxfam: https://bit.ly/2RxueLJ
Cryptocurrency skeptic Peter Schiff says he's lost all of his Bitcoin holdings because his digital wallet is rejecting his password: https://bloom.bg/30DemLz
Bloomberg.com
Mystery China Virus Spreads in Asia, Infects Health Workers
A new SARS-like virus that originated in central China is spreading from person-to-person and has sickened medical workers, heightening concern about the risk of wider transmission
✈️ Boeing got a tough message from a big buyer this week: Rename the 737 Max. “I think that word Max should go down in the history books as a bad name for an aircraft,” the founder and chairman of Air Lease Corp. said. https://bloom.bg/2NKfbNz
🍺 Beer sales in one of the world’s fastest-growing beer markets have dropped by 25% since a strict new drunk-driving law took effect this year. Vietnam’s crackdown has come as a surprise to many; the nation has a history of flouting alcohol restrictions. https://bloom.bg/2sIO2Dr
📈 And confidence is surging through China’s stock market, with investors pumping in funds in ways not seen in years. There’s optimism that the ascent will continue. https://bloom.bg/2NHZtCI
🍺 Beer sales in one of the world’s fastest-growing beer markets have dropped by 25% since a strict new drunk-driving law took effect this year. Vietnam’s crackdown has come as a surprise to many; the nation has a history of flouting alcohol restrictions. https://bloom.bg/2sIO2Dr
📈 And confidence is surging through China’s stock market, with investors pumping in funds in ways not seen in years. There’s optimism that the ascent will continue. https://bloom.bg/2NHZtCI
🌍 Meet some of the most interesting entrepreneurs, policymakers, engineers, and thinkers tackling the world's climate crisis in 2020: https://bloom.bg/2NJddNd
⛅ Bloomberg chose eight data points to track where we are — and aren’t — making progress on climate change. See our new data dashboard: https://bloom.bg/3atihPH
🌊 Greta Thunberg brought a stark message to the business elite gathering in Davos: Everybody is talking about climate change, but nobody is doing anything: https://bloom.bg/37gSqsd
⛅ Bloomberg chose eight data points to track where we are — and aren’t — making progress on climate change. See our new data dashboard: https://bloom.bg/3atihPH
🌊 Greta Thunberg brought a stark message to the business elite gathering in Davos: Everybody is talking about climate change, but nobody is doing anything: https://bloom.bg/37gSqsd
A new respiratory virus has now killed nine people in China and has spread to the U.S., sparking a rush to contain the outbreak. China will start nationwide screening as hundreds of millions get ready to travel during the Lunar New Year holiday. https://bloom.bg/2RGSfQf
It’s also sparked furious backlash on Chinese social media platforms Weibo and WeChat, where users are questioning why authorities didn’t tell the public about the virus earlier. https://bloom.bg/2upHmu8
As stocks wobbled around the world, investors are looking to prior health scares for guidance on how much market fallout to brace for. https://bloom.bg/30H0uQA
The coronavirus may or may not be the “big one.” To prepare, we should practice what we learned from SARS in 2003, writes Andreas Kluth for Bloomberg Opinion: https://bloom.bg/37iysxf
It’s also sparked furious backlash on Chinese social media platforms Weibo and WeChat, where users are questioning why authorities didn’t tell the public about the virus earlier. https://bloom.bg/2upHmu8
As stocks wobbled around the world, investors are looking to prior health scares for guidance on how much market fallout to brace for. https://bloom.bg/30H0uQA
The coronavirus may or may not be the “big one.” To prepare, we should practice what we learned from SARS in 2003, writes Andreas Kluth for Bloomberg Opinion: https://bloom.bg/37iysxf
🤩1
🚗 Tesla’s market value briefly crept above $100 billion for the first time, a threshold that will trigger a huge payout for Elon Musk if he can sustain the feat for months. https://bloom.bg/2urB9xR
💰 He was convicted and deported for losing $2.3 billion at UBS. Now, former trader Kweku Adoboli is looking to make a comeback in the country of his birth. https://bloom.bg/38uVwce
🌎 These billionaires are among the first to profit from trying to stop climate change—and with a combined net worth of $61 billion, they won't be the last. https://bloom.bg/2RgDBjR
💰 He was convicted and deported for losing $2.3 billion at UBS. Now, former trader Kweku Adoboli is looking to make a comeback in the country of his birth. https://bloom.bg/38uVwce
🌎 These billionaires are among the first to profit from trying to stop climate change—and with a combined net worth of $61 billion, they won't be the last. https://bloom.bg/2RgDBjR
☎ UN officials called for an investigation after it appeared Saudi Crown Prince Mohammed bin Salman was possibly involved in hacking Jeff Bezos’ cell phone: https://bloom.bg/38tBHlz
💊 China's state broadcaster CCTV reported two “preliminary positive” cases of the pneumonia-causing coronavirus in Hong Kong that are still awaiting final test results: https://bloom.bg/2RfjmTJ
🐷 A Hong Kong businessman is trying to convince a billion people to embrace fake pork, and help save the planet: https://bloom.bg/2sN4qTk
💊 China's state broadcaster CCTV reported two “preliminary positive” cases of the pneumonia-causing coronavirus in Hong Kong that are still awaiting final test results: https://bloom.bg/2RfjmTJ
🐷 A Hong Kong businessman is trying to convince a billion people to embrace fake pork, and help save the planet: https://bloom.bg/2sN4qTk
TripAdvisor is cutting hundreds of jobs as competition from Google intensifies. In early November, TripAdvisor shares slumped more than 20% in one day after the company reported dismal third-quarter results. https://bloom.bg/2RmY4DP
A $262 million 45-room mansion isn’t even this buyer’s most expensive purchase. The Chinese poker-playing billionaire Cheung Chung Kiu can’t get enough London real estate — but for all his investments, very little is known about him outside of certain ultra-rich circles. https://bloom.bg/30MRqd9
And fear is rapidly spreading in Wuhan, the ground zero of a deadly coronavirus. Eleven million residents woke up on Thursday to find the Chinese city in lockdown. https://bloom.bg/36iiUIw
A $262 million 45-room mansion isn’t even this buyer’s most expensive purchase. The Chinese poker-playing billionaire Cheung Chung Kiu can’t get enough London real estate — but for all his investments, very little is known about him outside of certain ultra-rich circles. https://bloom.bg/30MRqd9
And fear is rapidly spreading in Wuhan, the ground zero of a deadly coronavirus. Eleven million residents woke up on Thursday to find the Chinese city in lockdown. https://bloom.bg/36iiUIw
📚 U.S. Treasury Secretary Steven Mnuchin said 17-year-old Swedish climate activist Greta Thunberg should go study economics. https://bloom.bg/3azssCk
🇨🇳 China has banned travel from Wuhan, the city at the center of the coronavirus outbreak. https://bloom.bg/2NS4icp
👵 Scientists say they have uncovered "new evidence" that shows how stress can cause hair to turn gray. https://bloom.bg/36lGcNR
🇨🇳 China has banned travel from Wuhan, the city at the center of the coronavirus outbreak. https://bloom.bg/2NS4icp
👵 Scientists say they have uncovered "new evidence" that shows how stress can cause hair to turn gray. https://bloom.bg/36lGcNR
Bloomberg.com
Mnuchin Tells Thunberg to Go Study Economics: Davos Update
The rich and powerful are in Davos, Switzerland, for the World Economic Forum’s 50th annual meeting, and the gathering is being closely watched to see how the global elite aims to tackle problems they helped create, above all climate change.
🏥 Singapore reported the first case of a SARS-like coronavirus that originated in China: https://bloom.bg/2RCOyuU
📞 A Facebook VP pointed the blame a smartphone operating system “vulnerabilities” after Amazon CEO Jeff Bezos’s phone was hacked via Facebook-owned WhatsApp: https://bloom.bg/30KNgCv
🌳 China wants activists to stay out of its war on pollution: https://bloom.bg/2uq63H1
📞 A Facebook VP pointed the blame a smartphone operating system “vulnerabilities” after Amazon CEO Jeff Bezos’s phone was hacked via Facebook-owned WhatsApp: https://bloom.bg/30KNgCv
🌳 China wants activists to stay out of its war on pollution: https://bloom.bg/2uq63H1
👨🏻 Goldman Sachs will soon refuse to work on a company's IPO if all its directors are straight, white men. https://bloom.bg/37ixNMl
🏢 With the political unrest in Hong Kong showing no signs of stopping, rich Chinese are snapping up Singapore luxury homes despite the higher taxes. An increasing number are purchasing them solely to park their wealth and aren’t keen on renting them out, agents say. https://bloom.bg/2NSpkaW
💬 Billionaire George Soros said he’ll commit $1 billion to start a global university to fight authoritarian governments and climate change, calling them twin challenges that threaten the survival of our civilization. https://bloom.bg/36lbwMF
🏢 With the political unrest in Hong Kong showing no signs of stopping, rich Chinese are snapping up Singapore luxury homes despite the higher taxes. An increasing number are purchasing them solely to park their wealth and aren’t keen on renting them out, agents say. https://bloom.bg/2NSpkaW
💬 Billionaire George Soros said he’ll commit $1 billion to start a global university to fight authoritarian governments and climate change, calling them twin challenges that threaten the survival of our civilization. https://bloom.bg/36lbwMF
China has put 40 million people on travel lockdown on the eve of Lunar New Year as the country struggles to contain rising public anger over its response to a spreading coronavirus. https://bloom.bg/2NTqiDQ
A Swiss bank's former chief executive officer has been sanctioned for insider trading in his wife's name. https://bloom.bg/2RMAr6A
Greta Thunberg called a climate strike in Davos and slammed delegates for failing to treat global warming as a crisis. https://bloom.bg/38FsVBj
A Swiss bank's former chief executive officer has been sanctioned for insider trading in his wife's name. https://bloom.bg/2RMAr6A
Greta Thunberg called a climate strike in Davos and slammed delegates for failing to treat global warming as a crisis. https://bloom.bg/38FsVBj
Bloomberg.com
China Locks Down 40 Million People as Anger Grows Over Virus
China is struggling to contain rising public anger over its response to a spreading coronavirus even as it took unprecedented steps to slow the outbreak, restricting travel for 40 million people on the eve of Lunar New Year.