Jun 1, 2023

Asia’s Super Rich Plan to Invest More in Greater China, UBS Says Chinese EV Maker Hozon Weighs June Filing for $1 Billion Hong Kong IPO, Sources Say South Korea Export Slide Eases for Second Month as Demand Thaws Crypto Rues Bitcoin’s Decoupling From AI-Fueled Tech Stock Gains ECB Warns BOJ Policy Change Could Test Global Bond Markets Kevin McCarthy’s Debt-Limit Win Risks His Job as Speaker China’s Swoop on Cheap Global Coal Set to Drive Record Imports Debt-Limit Deal Wins House Passage, Easing US Default Concerns Schroders to Engage Countries on Climate Risk With New Framework Pimco Says Gold Is Overvalued Now, But Has Long-Term Appeal Oil Drops for a Third Session on Signs of Higher US Inventories World’s Biggest Gold Producer to Invest $540 Million in Argentina Mine Asia to Echo Wall Street Drop; Dollar, USTs Rise: Markets Wrap Top Miner BHP Miscounted Vacation Time for 28,500 Workers Japanese Firms Ramp Up Capital Spending More Than Expected HSBC Explores Deals in ESG Debt Market That Credit Suisse Built New York’s MTA Strikes Tentative Labor Deal With Transit Union Bangladesh Readies Higher Taxes in Budget in Test of IMF Reforms Debt-Limit Bill Overcomes Key Hurdle With House Passage in Sight How to invest globally without taking on a world of risk: Dale Jackson How improving your financial literacy can help ease stress in a tough economy Considering tenant insurance? Here's what you need to know first How to be the model driver, and get a break on car insurance Pattie Lovett-Reid: Protecting yourself financially from the risks of dementia Fixed income investors can breathe easier as inflation recedes: Dale Jackson Summer on a shoestring budget: Tips for surviving summer break as camp costs rise Why re-investing your tax refund is the smart option Owe money to the CRA this tax season? Here are some repayment options PSAC: Will Canada's tax deadline be moved due to the strike? How claiming income from side gigs can lower your tax bill Paper filing is dying but free income tax software lives on: Dale Jackson Tax deadline: Strike not a major issue for most Canadians, expert says 'Give yourself time and space': How to manage your finances during times of grief Experts explain how to cope with money stress Experts share effective ways to tackle student debt As thousands flock to day trading during lockdown, experts urge caution Dual income, no kids: Why some young Canadians are choosing this lifestyle 'Ask a lot of questions' before deciding what to do with your tax refund: experts Mixed uses and office conversions: A possible future for urban cores? Billionaire Perot Warns of Real Estate Recession as Loans Dry Up San Francisco’s Mayor Boosts Police, Homelessness Funds to Lure Companies Back US Economy Has Signs of Cooling as Hiring and Inflation Ease, Fed’s Beige Book Shows Fed’s Jefferson Signals a Rate Pause Is on the Way But More Hikes Could Follow Canadian Economic Growth Tops Forecasts, Boosting Rate-Hike Odds British Land Poised to Lose FTSE 100 Position After Two Decades Fed’s Bowman Says Real Estate Rebound Affects Inflation Fight SBB Woes Deepen After Holding Company Skips Hybrid Bond Payment Hedge Fund Veteran Deepak Narula Says Agency MBS Offer Rare Opportunities Now Australia’s House Prices Rise Sharply in May, Driven by Sydney Wells Fargo CEO Says ‘There Will Be Losses’ From US Office Loans US Mortgage Rates Hit Near Seven-Month High During Debt Impasse Billionaire Kretinsky's Plan to Rescue Casino Would Spare $4 Billion of Creditors Former BOE Policymaker Says UK’s Most Painful Period Is Still Ahead China’s Home Sales by Top Developers Slow as Rebound Falters ECB’s Inflation Fight Exposes Fragilities in Financial System Deutsche Bank Executive Sees Housing Risk in German CO2 Target Wanda Weighs Selling Payments Permit for About $141 Million Asia’s Super Rich Plan to Invest More in Greater China, UBS Says Chinese EV Maker Hozon Weighs June Filing for $1 Billion Hong Kong IPO, Sources Say South Korea Export Slide Eases for Second Month as Demand Thaws Crypto Rues Bitcoin’s Decoupling From AI-Fueled Tech Stock Gains Airlines Are Weighing Passengers for Safety Reasons After Covid China’s Swoop on Cheap Global Coal Set to Drive Record Imports Debt-Limit Deal Wins House Passage, Easing US Default Concerns Pimco Says Gold Is Overvalued Now, But Has Long-Term Appeal Alibaba to Build ChatGPT-Like AI Into Meeting, Messaging Apps Kim’s Sister Insists on Pyongyang’s Right to Launch Satellite World’s Biggest Gold Producer to Invest $540 Million in Argentina Mine Asia to Echo Wall Street Drop; Dollar, USTs Rise: Markets Wrap Top Miner BHP Miscounted Vacation Time for 28,500 Workers Republicans Push for More Military Spending in Debt Deal as They Decry Deficit Japan Seeks Security Clearance System in Line With US Allies Japanese Firms Ramp Up Capital Spending More Than Expected HSBC Explores Deals in ESG Debt Market That Credit Suisse Built New York’s MTA Strikes Tentative Labor Deal With Transit Union Bangladesh Readies Higher Taxes in Budget in Test of IMF Reforms China’s Swoop on Cheap Global Coal Set to Drive Record Imports Debt-Limit Deal Wins House Passage, Easing US Default Concerns Pimco Says Gold Is Overvalued Now, But Has Long-Term Appeal Oil Drops for a Third Session on Signs of Higher US Inventories World’s Biggest Gold Producer to Invest $540 Million in Argentina Mine Asia to Echo Wall Street Drop; Dollar, USTs Rise: Markets Wrap Top Miner BHP Miscounted Vacation Time for 28,500 Workers New Zealand Offers to Buy Out Owners of Homes Damaged by Cyclone Britain’s Electric Cars Cut Deeper Into £32 Billion Fuel Duty Trans Mountain pipeline gets extra government support as costs balloon Bitcoin Faces First Monthly Drop of 2023 as Crypto Revival Cools OPEC Excludes Bloomberg, Reuters and WSJ Reporters From Meeting Equinor Delays Canadian Offshore Oil Project as Costs Rise Billionaire Gilinski Wins Big and Upends Colombia’s Old Guard Italy Starts €1 Billion Sovereign Fund for Key Supply Chains Zimbabwe Central Bank Sees FX Rate Converging With Black Market Nexamp Secures $400 Million for Solar Projects in 6 States Saudi Arabia Amps Up Global Food-Security Push With Brazil Poultry Deal Kenya Inflation Unexpectedly Ticks Up as Sugar Prices Surge What the latest GDP report means for a Bank of Canada rate hike What slowdown? Economy continues to outperform ​Household credit card debt rises for third consecutive month The Daily Chase: Canada's economy expands in Q1; National Bank beats earnings expectations Dearth of skilled workers, funding dents tech adoption by manufacturers: survey The Daily Chase: United Conservative Party wins Alberta election Technology could be key to future wildfire prevention, fighting: companies Wednesday's GDP data will be key for Bank of Canada rate decision: Strategist Canada's immigration system should prioritize workers from in-demand industries: Expert Oilpatch restarts production that was shut in due to Alberta wildfires The Daily Chase: U.S. debt deal clears major hurdle; Alberta election day Scotiabank economist explains his call for another Bank of Canada interest rate hike StatCan report casts clouds on claims of a widespread labour shortage in Canada Canadian companies adopt 'stay interviews' as workers rethink careers, needs Credit unions trending towards greater unity as tech pressures mount TSX recap: Index finishes 0.74% higher amid broad-based gains Federal government posts $41.3 billion deficit for 2022-23 fiscal year Quebec opens door to more immigrants - if they speak French The Daily Chase: Glencore reportedly eyes Bunge; Canadian Western Bank misses expectations Debt-Limit Deal Wins House Passage, Easing US Default Concerns DeSantis Hits the Campaign Trail in Iowa as Alternative to Trump Japan Seeks Security Clearance System in Line With US Allies New Zealand Offers to Buy Out Owners of Homes Damaged by Cyclone Macron Says Putin Revived ‘Brain-Dead’ NATO With Electroshock Contaminated Drugs, Shredded Papers: US FDA Uncovers Failures in India Pharma Factories Debt-Ceiling Risks Abate Further as Congress Races to Complete Deal Mike Pence Plans to Launch Presidential Campaign on June 7 in Iowa Texas Governor Names Interim AG After Paxton’s Impeachment Moldova Sees EU Entry by 2030 Along With Russian-Occupied Region Bill Ackman Says Jamie Dimon Should Run for President in 2024 Poland’s Leader Pushes Back Against US Rebuke of Russian Probe Trump Stays Quiet on McCarthy's Debt Deal as Other 2024 GOP Contenders Trash It Kosovo Leader Snubs US Call to Back Down in Standoff With Serbs US and EU Narrow Gap on China But Remain Split on Trade Tactics Iran Steps Up IAEA Cooperation Even as Uranium Stockpile Surges Philippines Moves Closer to Wealth Fund Plan After Senate Nod Turkmenistan in Talks With US to Tackle Giant Methane Leaks Quebec firm to pay $10M to avoid charges over bribes promised to Philippine officials Crypto Rues Bitcoin’s Decoupling From AI-Fueled Tech Stock Gains Alibaba to Build ChatGPT-Like AI Into Meeting, Messaging Apps Kim’s Sister Insists on Pyongyang’s Right to Launch Satellite Asia to Echo Wall Street Drop; Dollar, USTs Rise: Markets Wrap Japan Seeks Security Clearance System in Line With US Allies Global Money Is Fast Chasing Alternatives in Asian Equities as China Anxiety Grows Hong Kong’s Crypto Ambitions Get a Guarded Reception From Digital-Asset Companies Hong Kong Telco HKBN’s Sale Stalls Again on Valuation, Sources Say Fintech Brex’s Revenue Surges After Regional Bank Turmoil China Woos Dimon, Musk as Pressure Builds on Xi to Boost Economy Crypto Exchange Gate.io Rejects Rumors That Sank Related Token C3.ai Tumbles on Underwhelming Sales Outlook After Rallying on AI Hype Korea Creates Software to Boost Its $1.8 Trillion Stock Market Salesforce Gives Forecast for Slowing Sales Growth in Push for Profit Apple Tests New High-End Macs With M2 Max and M2 Ultra Chips Ahead of WWDC AI Tech Rally Masks ‘Violent Rotations,’ RBC’s Silverman Says Pet Retailer Chewy Soars as Recurring-Purchase Program Drives Sales Bitcoin Faces First Monthly Drop of 2023 as Crypto Revival Cools 'Strive harder': Amazon workers protest company's climate impact, return-to-office mandate 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. HKEX Looks to Move Away From Fax Machines By Automating ETF Platform Cathie Wood Says Software Stocks Are Next AI Bet After Nvidia Stock Traders Turn to Options for Desperate Chase to Catch the Tech Rally Erdogan’s Win Puts Focus on New Cabinet, Policies: Reaction Wrap Cathie Wood Defends ARKK’s Decision to Dump Nvidia, Citing Chip-Cycle Risks There's a New King in Chip ETFs After Record $805 Million Inflow Traders Are Duped by Bear-Market Rally, Morgan Stanley’s Wilson Says Think Nvidia’s Move Is Wild? Check Out the Leveraged ETP AI-Focused ETF Assets Could Triple to $35 billion by 2030 Cathie Wood’s ARKK Dumped Nvidia Stock Before $560 Billion Surge BlackRock’s $9 Billion Quant ETF Set to Lean in on Nvidia, Tech What’s Causing the FOMO Drought in US Equities? Goldman Says Stocks Risk ‘Elevator Down’ With Quants Near Max Long Wave of Corporate Spinoffs Fills a Void of Large US Listings AI Intrigues ETF Managers as Both Investment and Tool Investors Should  Prepare for Dividend Stock Rebound, Goldman Strategists Say AI-Powered ETF Getting Left Behind by an AI-Powered Stock Rally Fund Boss Who Beat 91% of Peers Says ESG Is Key to Making Money BlackRock Bond Chief Rick Rieder’s First ETF Is All About Income 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. Dong Cao and Pei Li, Bloomberg News The corporate flag for Hong Kong Exchanges & Clearing Ltd. (HKEX), left, and the Chinese flag fly outside the Exchange Square complex in Hong Kong, China, on Friday, May 29, 2020. The struggle to maintain confidence in Hong Kong's future is manifesting in its stock and currency markets. Photographer: Lam Yik/Bloomberg , Bloomberg (Bloomberg) -- Hozon New Energy Automobile Co., a company making affordable electric vehicles in China, is considering filing for its $1 billion Hong Kong initial public offering as soon as this month, according to people familiar with the matter. The Shanghai-headquartered company has added ABC International Holdings Ltd. and China Merchants Bank International to the banks working on the listing, the people said, asking not to be identified as the information isn’t public. China International Capital Corp., Citic Securities Co., and Morgan Stanley are among the other banks on the first-time share sale, Bloomberg News reported last year. Deliberations are ongoing and details such as the timing and bank lineup could still change, the people said. Representatives for Citic Securities, CICC, Hozon and Morgan Stanley declined to comment, while ABCI and CMBI didn’t immediately respond to requests for comment. An IPO may come as the Chinese EV market is being roiled by a price war kicked off by Tesla Inc. in October, with both domestic and international rivals following suit. Steep discounts have failed to reverse a slide in sales for most manufacturers, and earnings have taken a hit. Hozon sold 152,073 units of its Neta brand vehicles in 2022, up 118% versus the year before, according to a press release. The company is looking to build a presence in Europe and the Middle East as well as in Asia Pacific, where it inked a manufacturing agreement in May to make its Neta V model in Thailand. The EV maker raised over 3 billion yuan ($423 million) in a series D funding round in 2022, according to its website. Shenzhen Capital Group and Qianhai Fund of Funds were among the participants in the round. ©2023 Bloomberg L.P.