Kering’s Gucci Show Gains Erased by Rare Negative Recommendation
Days after basking in the glow of the first collection from Gucci’s new designer, Kering SA shares fell back to earth under the weight of a rare sell rating.
Bloomberg Business
Saudi Arabia’s First Ever Palestinian Envoy to Visit West Bank
Saudi Arabia’s ambassador to the Palestinians is due to make his first trip to the West Bank this week, as diplomatic efforts intensify to broker a deal between Israel and one of the foremost Arab and Islamic powers.
Yen Sinks to 10-Month-Low After BOJ Stresses Need to Keep Easy Policy
Bank of Japan Governor Kazuo Ueda and his deputy doubled down on the central bank’s message that stimulus is still needed, in comments that helped nudge the yen to a fresh year-to-date low and spark a warning on currency movements from Prime Minister Fumio Kishida.
China Won’t Overtake US With Broken Model, SocGen’s Baader Says
(Bloomberg) — China may stem its real estate crisis but the economy will only grow tepidly and probably won’t ever overtake the US, according to Klaus Baader of Societe Generale SA.
World’s Top Currency Rally Grows Stronger as a President Weakens
As the Colombian peso crashed in the weeks before he took office last year, President-elect Gustavo Petro warned people they would lose money if they bet against his government.
Industrial Metals Drop on Outlook for China Construction, Rates
Industrial metals from copper to iron ore slumped as investors reacted to the ongoing weakness in China’s property sector and inflationary pressures that could keep global monetary policy tighter for longer.
Shutdowns Cost Billions as US Federal Workers Paid to Stay Home
The costly truth about US government shutdowns: They don’t save taxpayers a dime.
Trump Battles Biden for Union Vote in Strike-Embroiled Michigan
The visits by President Joe Biden and former President Donald Trump to Detroit this week give both men a chance to appeal to blue-collar America as the strike by union autoworkers threatens the economy in a battleground state.
Ex-Wall Streeters Help Washington Divvy Up $100 Billion to Win the Global Chip Race
For years the titans of finance have argued Wall Street could spend money more efficiently than the government can. Now a handful of bankers will get the chance to see if they’re right.
Investors Shrug Their Shoulders as Morgan Stanley Tries to Talk Up Chile’s Sovereign Debt
After years of political turmoil, street protests and economic stagnation, Morgan Stanley say it’s time to buy Chilean assets again, including sovereign debt. Other banks and investors are yet to be convinced.
