Jul 7, 2023

Ultra-Wealthy Continue to Prop Up Dubai’s Luxury Property Market Asia Equities Primed for Losses After Yields Spike: Markets Wrap Banks Line Up $9.4 Billion of Debt for GTCR’s Worldpay Takeover Netherlands Can Cut Schiphol Airport Capacity, Dutch Court Rules EU Users Find Ways to Download Meta’s Unavailable Threads App Levi Lowers Full-Year Guidance on US Wholesale Weakness Yellen Voices Concern Over Metals Controls During China Visit Mystery $120 Million Outflow Hits Crypto Bridge Multichain Whose CEO Is Missing Credit Suisse Sued in Japan Over Sale of Greensill-Linked Bonds Bangladeshi Banks Plan India Rupee Transactions as Reserves Fall Taiwan Exports Plunge at Fastest Pace in 14 Years on Demand Woes UK House Prices Fall Most in More Than a Decade, Halifax Says China’s Central Bank Boosts Gold Reserves for Eighth Month Swedish Banks Can Withstand Real Estate Collapse, SEB Says Omega Raises Luxury Watch Prices as Other Swatch Brands Struggle China’s Sinking Markets Heap Pressure on Xi to Deliver Stimulus EU Says High Cost of Sanctions on Russia Will Grow for Years Shell’s Earnings From Gas Trading to Drop Significantly Germany and Spain Brace for Scorching Heat Over Coming Days Asia Equities Primed for Losses After Yields Spike: Markets Wrap Yellen Voices Concern Over Metals Controls During China Visit String of Global Heat Records Raises Alarm on Climate Change China’s Central Bank Boosts Gold Reserves for Eighth Month EU Says High Cost of Sanctions on Russia Will Grow for Years Shell’s Earnings From Gas Trading to Drop Significantly Germany and Spain Brace for Scorching Heat Over Coming Days Europe Gas Set for Biggest Weekly Drop Since May as Stocks Rise CEO Who Grew Up in Poverty Builds Rare $1.4 Billion Fish Startup Shell Loses Luster in the Second Quarter: The London Rush Ukraine Recap: Zelenskiy Set to Meet Erdogan Before NATO Summit Modi’s Push to Take Indian Rupee Global Gets Off to a Slow Start Siemens Energy Sets Up Twin Taskforces to Investigate Wind Unit African Countries Seek Common Rules for Tapping Carbon Market Oil Market Flashes Signs of Strength as OPEC+ Cuts Take Hold Tesla Starts to Lay Off Some Battery Workers at China Factory Some Oil Buyers Seek Less Supply From Saudis After Price Hike Oil is Hard to Quit, Even in Norway Where Electric Cars Rule the Road A 445% Price Jump Makes Tomatoes More Pricey Than Gasoline in India The Daily Chase: Meta launches Threads; Oil prices remain resilient Toronto home sales and prices up from last June, down from May: TRREB Fed minutes reveal divisions over decision to pause in June The Daily Chase: U.S. FOMC minutes; port strike enters fifth day Signs of wage growth cooling encouraging amid inflation fight: economists Nearly 2,000 Air Canada flights delayed, cancelled over long weekend ​Income gap between Canadian households increases at record speed: Statistics Canada The Daily Chase: Rate pause in Australia; dock workers on strike July rate hike could trigger problems for mortgage owners: Expert From telecoms to grocers, competition concerns keep bubbling up in federal politics Labour shortage in construction adding extra pressure to housing supply gap: experts Canada business outlook drops; firms see inflation lingering GDP data suggests one more Bank of Canada rate hike then a pause, analyst says Canada's economy strengthens, leaving July rate hike on table The Daily Chase: Latest on GDP; BoC's Business Outlook Survey A US$100B wealth migration tilts U.S. economy's centre of gravity south Alberta ends 2022-23 with petro-powered $11.6B surplus Is lagging productivity more economically dangerous than inflation? The Daily Chase: Labour negotiations break down; Canaccord warning EU Says High Cost of Sanctions on Russia Will Grow for Years China Needs to Do More to Stem Fentanyl Crisis, US Diplomat Says AIIB Says It Found No Evidence of Undue Influence on Decisions Ukraine Recap: Zelenskiy Set to Meet Erdogan Before NATO Summit India Court Declines to Stay Rahul Gandhi Defamation Conviction Sunak Seeks to Cut Number of Britons Claiming ‘Unfit to Work’ US Raises Fresh Concern Over China’s ‘Risky’ Sea Moves Vietnam PM Seeks Looser Policy Settings to Spur Slowing Economy Yellen Will Meet With China’s Li in a Push to Ease Tensions South Korean Panel Backs Japan’s Fukushima Wastewater Discharge Plan House Republicans Probe BlackRock, Vanguard on Their ESG Policies Brazil’s Congress Advances First Major Tax Overhaul in Decades Venezuela Banned Opposition Contender Machado Leads Primaries Lula Replaces Minister in Bid to Solidify His Congressional Base Londoners to Face a Week of Chaos During Fresh Tube Strikes Zelenskiy Makes Diplomatic Tour as Ukraine Seeks a Path to NATO Ukraine Recap: Deadly Strike on Lviv; Zelenskiy’s Plea to Biden John Kerry to Visit China in Bid for Progress in Climate Crisis Talks CEBA deadlines a 'big worry' for businesses: CFIB CEO Banks Line Up $9.4 Billion of Debt for GTCR’s Worldpay Takeover EU Users Find Ways to Download Meta’s Unavailable Threads App Yellen Voices Concern Over Metals Controls During China Visit Mystery $120 Million Outflow Hits Crypto Bridge Multichain Whose CEO Is Missing Taiwan Exports Plunge at Fastest Pace in 14 Years on Demand Woes China’s Sinking Markets Heap Pressure on Xi to Deliver Stimulus Samsung Profit Beats As Memory Chip Sector Recovers From Trough CEO Who Grew Up in Poverty Builds Rare $1.4 Billion Fish Startup China Warns its Tech Giants to Rein in Cyberbullying China to Wrap Ant Probe With $1.1 Billion Fine, Reuters Says Byju’s Crisis Prompts Top India Venture Firm to Shift Strategy Corporate Scandals Spark Crisis of Confidence in Thai Markets Morgan Stanley Upgrades Asia Chip Stocks on AI Clamor Tesla Starts to Lay Off Some Battery Workers at China Factory Digital Pound Could Verify Age for Alcohol and Citizenship in UK Goldman Called Out by China State Media for Bearish Bank Report Binance Crisis Manager, US Employees Leaving Crypto Exchange Gold Miner Gains 3.2% After Indonesia’s Largest IPO This Year Rakuten Unit Listing News Fails to Dispel Share Market Caution The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. Bitcoin Bulls Are Testing The Year’s High Amid Light Market Liquidity Soaring Interest Rates Are Quietly Transforming the Oil Market BlackRock Wants to Make It Cheaper to Trade Bitcoin, Larry Fink Says Valkyrie Is Latest ETF Issuer to Refile Bitcoin Fund Application With SEC Coinbase Downgraded as Analyst Says Crypto Uncertainty Dims Outlook Anchorage’s Assets Under Custody Jump In Crypto Flight to Safety BlackRock’s Bitcoin ETF Application Is Refiled by Nasdaq to SEC Fidelity Leads Flurry of Bitcoin ETF Refilings to Answer SEC Bitcoin Set for Second Quarterly Gain as Smaller Tokens Lag by the Most Since 2020 Fidelity, Other Bitcoin ETF Applications Refiled by Cboe to SEC Stock Market Rally That Shocked Everyone Is Finally Broadening Beyond Tech SEC Pushes Back Against Fidelity, BlackRock Spot Bitcoin ETF Filings Bitcoin Prices Settle Into Narrow Range as ETF-Inspired Euphoria Dissipates Fidelity Joins Spot-Bitcoin ETF Race With Fresh SEC Filing Coinbase Investors Should Curb Their Enthusiasm, Berenberg Warns Citadel Securities Is Muscling Its Way Into Credit Trading Baer’s Charrue Says AT1 Shock Hurt Swiss Image: Zurich Forum Wood’s Ark Adds Possible ‘Silver Bullet’ to Bitcoin ETF Filing BlackRock Joins AI Mania, Calling It a Potential ‘Mega Force’ BCE You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan, and submit your feedback using our Accessibility webform. Jennifer Creery, Bloomberg News , (Bloomberg) -- Taiwan’s exports plunged in June at the fastest pace since 2009, exacerbating concerns about the slump in global demand for electronics and its impact on the economy. Overseas shipments plummeted 23.4% to $32.3 billion last month compared to a year earlier, the Ministry of Finance said Friday. That was far worse than expectations of a 13.5% decline in a Bloomberg survey of economists, and was much more severe than the 14.1% fall recorded in May. It also marked the fastest pace of declines since August 2009. Imports dropped 29.9% from a year earlier, following a 21.7% tumble in May. The economy’s trade balance was nearly $6 billion. Taiwan, which is export-dependent, has struggled with lackluster overseas appetite for technological goods — including for semiconductors, a key product. “The demand for integrated circuits continues to be weak,” the finance ministry said in a statement accompanying the data. The ministry also cited inflation and interest-rate hikes that have meant a stagnation of the global economy, as well as a high base of comparison with last year. The demand problem seems to be improving elsewhere. South Korea in June registered its first trade surplus in 16 months, although exports still declined in the month. --With assistance from Argin Chang and James Mayger. ©2023 Bloomberg L.P.