China’s Lunar New Year Exodus Threatens More Factory Disruption
(Bloomberg) — When Liu Junde was told by his boss he couldn’t take 20 days of leave from his factory job in Yiwu city in China, he promptly quit.
Bloomberg Business
Argentina Bonds Jump as Government Stuns Market With $1 Billion Buyback
Economy Minister announces surprise buyback focused on 2029, 2030 global bonds
Musk’s Twitter Sells Off Coffee Makers, Neon Logo in Auction Blitz
Fancy an espresso machine once used by Twitter Inc. employees? Or a neon display of its logo? Fans of the social media company have a chance to get their hands on them in a fire sale of items from its San Francisco headquarters starting Tuesday.
TV Shoots Drop 24% in Los Angeles Signaling Fewer Shows
TV production in Los Angeles tumbled 24% in the fourth quarter from the same period a year ago, a sign that cutbacks at major entertainment companies are curbing the number of shows produced.
Wall Street Struggles to Contain Costs as Pay Pressures Escalate
Even after eliminating staff, cutting bonuses and tapping an army of robots to replace legions of workers, Wall Street is still bracing for higher costs in coming months — especially those tied to pay.
Crypto Exchange Bitzlato’s Founder Arrested in $700 Million Laundering Scheme
A Russian was charged with money laundering through a cryptocurrency exchange that allegedly masked the proceeds of illegal gambling and drug deals valued at more than $700 million, as the US goes after criminal suspects in the digital space.
Fugitive in $100 Million NJ Deli-Value Case Nabbed in Thailand
A fugitive charged with securities fraud over a New Jersey deli once valued at more than $100 million was arrested in Thailand at the request of US authorities.
Banker Turned Bagman Says Ex-Fox Executives Paid Soccer Bribes
A former banker who once led an Argentine sport-marketing firm testified Wednesday he conspired with two former 21st Century Fox executives to pay as much as $32 million in bribes to South American soccer bosses for lucrative tournament broadcasting rights.
Banks in Argentina Need More Vault Space to Store Piles of Pesos
Argentina’s peso bills are depreciating so quickly as inflation approaches 100% that banks are running out of space to store bank notes.
White House Accuses GOP of ‘Economic Vandalism’ Over Debt Limit
(Bloomberg) — The White House accused congressional Republicans of “unprecedented economic vandalism” Wednesday after an Arizona congressman said the US should decline to raise the debt ceiling, intensifying the rhetorical battle over the spending limit.
