Nov 30, 2023

Tata Technologies to Boost Hot India IPO Market on Trading Debut Rice on Cusp of Fresh 15-Year High in Asia After Sharp Rebound Chinese Stocks Sit Out November’s Global Rally on Economic Woes Finland’s Economy Shrinks Most Since 2020 in Broad-Based Decline Sumitomo Mitsui Picks Nakashima as CEO Following Ohta’s Death Europe’s Longest Recession Grips Estonia as Region Suffers Robinhood Wants to Shake Up the UK Market in International Debut Fidelity, Invesco Prep for Revival in China’s Beaten-Up Markets Asia Stocks Muted as Fed Speak Pushes Bonds Higher: Markets Wrap Global Funds Favor Asia’s Higher Yielding Bonds Over Others Oil Holds Two-Day Advance Ahead of High-Stakes OPEC+ Meeting Bank of Korea Holds Policy Rate, Raises Inflation Forecasts These Companies Are Pushing Back on Science Showing Methane Leaks Marina Bay Sands Said to Seek Up to S$10 Billion Loan for Growth Climate Change Fuels Global Political Volatility, Australia Says Vitol Funds to Help Restart Australia Coal Mine Shut Since 2007 Philippine Regulators Move to Block Access to Binance Platform Occidental Petroleum in Talks to Buy CrownRock, WSJ Reports Jack Ma Returns to Rally Troops After Alibaba’s Troubles Deepen Canadians lose financial confidence amid economic concerns: index Inflation, longer sales season weigh on shopping habits this Black Friday Canada's high court to rule if bankruptcy wipes out court-ordered fines in B.C. case Influx of seniors who stay in family home face ballooning borrowing costs: Dale Jackson Thrifting, regifting and bargain hunting: The etiquette of gift-giving on a budget Do your research for Black Friday, because not every deal is a good one, experts warn Young professionals more likely to discuss salary with colleagues: survey Top 1% of tax filers saw incomes rise by almost 10% in 2021: Statistics Canada Kids should learn financial literacy in school over 'parallelograms and rhombuses': author Ottawa extends deadline for Underused Housing Tax Financial advice from AI may be educational but not holistic, experts say Women less likely than men to request a raise, negotiate salary: surveys Timing, patience key to nabbing affordable concert, sports resale tickets: fans Many Canadians 'uncomfortably close to broke': MNP It’s never too early to think about tax-loss selling: Dale Jackson Many Canadians stuck in 'chaotic whirlwind of personal finance stress': Edward Jones Money manager of $205M in assets explains how meditation informs his decisions Canadian tech workers make 46% less than U.S. counterparts: TMU study HELOCs can play a vital role in your finance toolkit: Dale Jackson China’s Factory Activity Shrinks Again in Sign of Recovery Woes Hong Kong’s Iconic Rooftop Bar Sevva Is Shutting Down in May Morgan Stanley China Real Estate Banker Lida Ren Leaves Company China Builder Powerlong Defaults on Dollar-Bond Coupon Payment China’s Shattered Property Bond Market Finds Hope in Sunac Deal Mexico’s Fibra Next Said to Delay IPO Amid Missing Tax Papers Housing prices are ‘conundrum’ for Bank of Canada, National Bank’s Marion says Mexico’s Biggest IPO Since 2018 Hits Last Minute Tax Hurdle SEC Says WeWork Options Plot Failed on Botched Press Release ‘Diversity Dividend’ Eludes Property, Energy, Industrial Firms Overdue Office Loans Are New Pain Point for Banks in FDIC Report Signa Holding to File For Restructuring in Self-Administration Spain Helps Property Firm Counter South African Economic Woes UK Fixed-Rate Savers Earn Higher Rates Than Mortgage Holders Pay Supermarkets’ Loyalty Cards Come Under Scrutiny: The London Rush US Mortgage Applications for Home Purchases Rise for Fourth Week German Real Estate Seeing Most Distress, Greystar CEO Says UK Mortgage Approvals Jump as Housing Market Steadies, BOE Says Hong Kong Billionaire Cheng Family’s Succession Under Spotlight Remy Cointreau Misses Profit Estimates as US Cognac Sales Plunge NCBA Kenya Eyes Quarter of $6.5 Billion Credit Unions Cash Pile China Investment Bank Bans Bearish Research, Displays of Wealth Tata Technologies to Boost Hot India IPO Market on Trading Debut Rice on Cusp of Fresh 15-Year High in Asia After Sharp Rebound Chinese Stocks Sit Out November’s Global Rally on Economic Woes Sumitomo Mitsui Picks Nakashima as CEO Following Ohta’s Death ASML Plans to Name New CEO as Current Heads Retire in 2024 Robinhood Wants to Shake Up the UK Market in International Debut Asia Stocks Muted as Fed Speak Pushes Bonds Higher: Markets Wrap BMW, Mercedes to Set Up Joint EV Charging Network in China Israel and Hamas Extend Their War Truce for Another Day These Companies Are Pushing Back on Science Showing Methane Leaks Marina Bay Sands Said to Seek Up to S$10 Billion Loan for Growth China Remembers Kissinger as ‘Valued Old Friend’ in US Relations Hong Kong’s Failed Land Tenders Spike to Record High China’s Factory Activity Shrinks Again in Sign of Recovery Woes Nature Made Vitamins Owner Buys Bonafide Health for $425 Million Hong Kong’s Iconic Rooftop Bar Sevva Is Shutting Down in May Tata Technologies to Boost Hot India IPO Market on Trading Debut Rice on Cusp of Fresh 15-Year High in Asia After Sharp Rebound Asia Stocks Muted as Fed Speak Pushes Bonds Higher: Markets Wrap BMW, Mercedes to Set Up Joint EV Charging Network in China Oil Holds Two-Day Advance Ahead of High-Stakes OPEC+ Meeting These Companies Are Pushing Back on Science Showing Methane Leaks Renewables Are Likely to Be COP28 Bright Spot as 1.5C Hopes Fade Climate Change Fuels Global Political Volatility, Australia Says Vitol Funds to Help Restart Australia Coal Mine Shut Since 2007 Occidental Petroleum in Talks to Buy CrownRock, WSJ Reports Jack Ma Returns to Rally Troops After Alibaba’s Troubles Deepen Sri Lanka, Official Creditors Seal Debt Restructuring Deal Lithium Slump Has Room to Run as Bearish Bets Mount in Guangzhou Origin Rejects Brookfield’s Revised $12 Billion Takeover Plan Australia’s Capex Misses Estimates Even as Firms Bolster Plans These Are the World's Most Expensive Cities to Live In Right Now Mexican Companies Win First Batch of Industrial Park Tenders OPEC+ Talks on Oil Supply Cuts Drag Into Eve of Meeting Investors Poured a Record Amount of Money Into Junk-Bond ETFs Last Month New Brunswick public sector pension plans to be transferred to shared-risk model Respondents to Bank of Canada questionnaire largely oppose creating a digital loonie Labour shortages cost businesses $38B in potential revenue: CFIB report U.S. economic growth for last quarter is revised up to a 5.2% annual rate The Daily Chase: Couche-Tard beats expectations Demand falls for winter recreational homes: Royal LePage High rates untenable amid household 'debt crisis': Rosenberg CIB provides $52M loan for Thompson Regional Airport redevelopment in Manitoba P.E.I. utility seeks rate hike for $37M in post-tropical storm Fiona losses Larry Berman on where markets might go in 2024 The Daily Chase: Scotiabank earnings miss Government impersonation, phishing are top financial scams, Interac survey finds Saskatchewan projects $250M deficit in mid-year financial report, expenses up $1.3B Larry Berman on where markets might go in 2024 The Daily Chase: Shopify up after Black Friday Buyer beware: porch piracy set to ramp up with holiday season fast approaching Food inflation: Prices slowed in October but still high Survey says 75% of B.C. 's jobs in next decade will need post-secondary education Manitoba government may push back promise to freeze hydroelectric rates Europe’s Longest Recession Grips Estonia as Region Suffers Israel and Hamas Extend Their War Truce for Another Day China Remembers Kissinger as ‘Valued Old Friend’ in US Relations Renewables Are Likely to Be COP28 Bright Spot as 1.5C Hopes Fade Zelenskiy Faces Manpower Dilemma in Ukraine’s Stalled Offensive Climate Change Fuels Global Political Volatility, Australia Says Hamas Says There’s Still No Deal to Extend Truce With Israel Turkey’s Economy Heads for Soft Landing After Dash to Hike Rates Israel-Hamas Truce Enters Final Day As Talks Drag Over Extension Musk Says He Cannot See Himself Voting for Biden in 2024 Mexico’s Fibra Next Said to Delay IPO Amid Missing Tax Papers January US Shutdown Odds Lessen as House GOP Softens Demands Chile’s Wealthy Families Lead Donations for Business-Friendly Charter Campaign US Indictment Details Alleged Indian Plot to Murder Sikh Leader Feds select Boeing in sole-source deal for military planes, bypassing Bombardier SEC’s Use of In-House Judges Cast in Doubt by Supreme Court Bill Ackman, Jamie Dimon Want Anyone But Biden and Trump for 2024 EU Urges UK to Uphold Human Rights Pacts Blocking Rwanda Plans Mexico’s Biggest IPO Since 2018 Hits Last Minute Tax Hurdle ASML Plans to Name New CEO as Current Heads Retire in 2024 Robinhood Wants to Shake Up the UK Market in International Debut These Companies Are Pushing Back on Science Showing Methane Leaks Philippine Regulators Move to Block Access to Binance Platform Jack Ma Returns to Rally Troops After Alibaba’s Troubles Deepen China Builder Powerlong Defaults on Dollar-Bond Coupon Payment Lithium Slump Has Room to Run as Bearish Bets Mount in Guangzhou Musk Says Neuralink Has Never Caused the Death of a Monkey OpenAI Will Add Microsoft as Board Observer, Plans Governance Changes Alibaba’s Value Dips Below Upstart PDD’s in Landmark for China OpenAI Director Who Helped Oust Altman Now Key Player in Startup's Future Musk Says He Cannot See Himself Voting for Biden in 2024 Japan Output Rises More Than Expected as Yen Boosts Activity Xi Visits Shanghai in First Trip to City Since November 2020 Biggest Blowout in Bonds Since the 1980s Sparks Everything Rally Nascar Adds Amazon, Warner Bros. in $7.8 Billion TV Rights Deal Elon Musk, Slinging Expletives, Says Advertiser Boycott on X May Kill It Salesforce Jumps as Cost-Cutting Moves Propel Profit Outlook Abu Dhabi Weighs Bid for $1 Billion PCCW Fiber Unit Stake 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. Investors Poured a Record Amount of Money Into Junk-Bond ETFs Last Month Grayscale Trust Becomes ‘Live Betting Line’ for Spot Bitcoin ETF Bitcoin Will Reach Its Old Highs With ETF Approval, Galaxy’s Novogratz Predicts The $7 Trillion ETF Boom Gets Blamed Again for Dumb Stock Moves First Asia ETF Tracking Saudi Arabian Stocks Debuts in Hong Kong Gold, Copper Climb as Fedspeak Boosts Bets on Interest-Rate Cuts Bitcoin Retakes $38,000 While Rate Cut Expectations Increase Shorting Volatility, Buying Bitcoin Are 2023’s Surprise Winners Wall Street’s $300 Billion Middleman Rides Model-Portfolio Boom China Remains Risk for EM Equity Rally Driven by Earnings, Flows Meme-Stock ETF Shuts After Failing to Attract Day Traders Bitcoin ETF Optimism Spurs Largest Asset Inflows Since Late 2021 Traders Buy Argentina ETF at Fastest Pace in Almost a Decade Billions Wiped Out as Stock-Safety Trade on Wall Street Misfires Green Stock Selloff Deepens as Tesla Sentiment Sours Circle, Japan’s SBI Enter Pact to Spur Stablecoin USDC Usage Wall Street Throws Caution to the Wind to Keep Up With Stock Rally USO Oil ETF Sees Biggest Outflow Since 2016 Ahead of OPEC+ Talks Climate Funds Look to Regain Footing After Three Down Years World Series breakthrough for teams’ business Shane Pinto suspension the result of a regulated gambling market that works, say industry insiders Canadian Football League fanatics fuel financials What’s next for private equity investment in professional sports? Canada’s Davis Cup team finding love Impact of Jersey Ads on the NHL Promising Puck Drop for PWHL Betting on Women's Sports is on the Rise NHL expands market to Oz ‘Tis the Season for Selling Sports Books Television deals, ratings generate record-setting NFL revenue Playing for global basketball and sponsorship glory Awareness still at disadvantage in decades-long battle for tennis pay equity FanDuel, Rivalry deliver something new for betting customers Corporations considering Canadian cricket Taiga Uranaka and Hideki Suzuki, Bloomberg News (Bloomberg) -- Sumitomo Mitsui Financial Group Inc. named Toru Nakashima as chief executive officer, turning to an experienced insider to lead Japan’s second-largest bank following the death of his predecessor. His appointment is effective Dec. 1, the company said in a statement on Thursday. Deputy President Nakashima, 60, has already been serving as interim chief since Jun Ohta died at the age of 65 on Nov. 25. He has long been seen as Ohta’s heir apparent. Nakashima will face the task of building on a business expansion pursued by Ohta, who oversaw ambitious forays in Asia and the US. He will also have to prepare Sumitomo Mitsui for rising interest rates in Japan, as the emergence of inflation prompts the central bank to consider ending its years-long ultra-easy monetary policy. Like chiefs at other big Japanese lenders, Nakashima is a life-time company insider, joining the bank’s predecessor in 1986 after graduating from the faculty of engineering at the University of Tokyo. He was seen as one of the most likely candidates for the top job in recent years when he served as chief financial officer and chief strategy officer at the same time, a dual role Ohta had before he became CEO in 2019. The two men share other similarities. Both are known as straight talkers. While Ohta played American football at college, Nakashima was a rugby player. Under Ohta, Sumitomo Mitsui made acquisitions in Indonesia, India, Vietnam and the Philippines, investing billions of dollars as growth opportunities at home dwindled due to the country’s slow economic expansion and bouts of deflation. He also built a stake in Jefferies Financial Group Inc. to boost Sumitomo Mitsui’s investment banking business in the US. Japanese bank shares have jumped this year amid speculation that the Bank of Japan will soon end its negative interest-rate policy, a move that would help to restore lending profitability. Shares of Sumitomo Mitsui are up 37% in 2023. The Tokyo-based company is forecasting a record 920 billion yen ($6.3 billion) in net income for the year ending March. Rivals Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. are also expecting profit to climb this fiscal year. ©2023 Bloomberg L.P.