LUXURY-LIFESTYLE
Where to drink when you can’t get into the world’s 50 best bars
The World’s 50 Best Bars has released the 51 to 100 top places to drink around the world. It’s a run-up to the top 50, which will be announced on Oct. 4 at a ceremony in Barcelona, Spain.
WORLD
One of New York’s longest flight routes has a major wind problem
Two years of planning went into the new non-stop service from New York to Auckland which, at 17 hours and 35 minutes, is the world’s fourth-longest.
WORLD
Gundlach starts buying after worst US treasury rout in decades
While US 10-year yields have climbed about 235 basis points in 2022, exceeding any annual increase on record in data going back to 1962, there was some relief on Tuesday with the benchmark yield falling 10 basis points to 3.82%.
ECONOMY-2
No change In India’s policies for inclusion in bond indices
India’s bond market is the largest in the emerging world that’s not already included in global indexes.
BUSINESS
Goldman and BlackRock sour on stocks as recession risk rises
Flagging rising real yields as a major headwind, Goldman strategists cut equities to underweight in the US investment bank’s global allocation over the next three months while staying overweight cash.
BUSINESS
Trafigura warns of oil spikes as macro headwinds mask tightness
The loosening of China’s Covid Zero policy could result in a sharp rebound in oil consumption, prompting a rush for supplies that the market won’t be able to meet, said Saad Rahim, chief economist at Trafigura Group.
BUSINESS
Bridgestone supplier’s 190% rally in India faces slowdown risk
With no clear signs that the global macro economic situation will improve soon, demand for its products has waned in the July to September quarter as the company’s top customers stocked up on inventories and held back from fresh orders.
BUSINESS
Japan holds divisive state funeral for former premier Shinzo Abe
The ceremony is scheduled to begin at 2 p.m. Tuesday at the Budokan arena in central Tokyo under tight security. Japan’s first state funeral for a former prime minister since 1967 comes more than two months after the country’s longest-serving premier was assassinated on the campaign trail by a man with a homemade gun.
BUSINESS
Electric blanket sales surge as Europe struggles with soaring fuel bills
Export data points to a surge that’s buoyed the fortunes of companies like Shenzhen-based UTK Technology Ltd., a producer and seller of the blankets on e-commerce website Alibaba, which confirms demand has reached an unprecedented level this month.
BUSINESS
Pound under siege with mounting bets it will drop below $1
After the pound tumbled as low as $1.0350 Monday, the weakest on record, options markets show traders expect it to keep falling.
BUSINESS
Luxury products see inflation biting demand recovery amid K-shaped consumption
Consumer-goods makers are reporting robust demand for items priced nearly $2,000 in a nation where per-capita income is just a tad above that level, while industry data on sales of budget phones priced below $100 and motorcycles, an indicator of rural demand, are showing a weaker trend.
BUSINESS
Unilever CEO Alan Jope to retire at end of 2023 after GSK setback
Alan Jope, a long-term veteran of the consumer goods company, will leave after only five years in the role, with no named successor currently in place. The shares rose as much as 3.7% in early London trading.
BUSINESS
Giorgia Meloni wins big in Italy election to turn page on Mario Draghi era
Giorgia Meloni emerged from the political fringes after leading the opposition to Mario Draghi’s technocratic administration which stabilized the country over the past 18 months following the trauma of the pandemic.
BUSINESS
One bitcoin equals one bitcoin becomes the narrative as the drop gets ‘too painful’
That’s the expression that’s making its rounds on Twitter in recent days, where users, amid a deep decline in prices, have been posting that 1 BTC = 1 BTC. The idea is that it doesn’t really matter what the coin’s price is. Its supply is fixed and that should, theoretically, act as a buoy for prices in the long run.
BUSINESS
These are the best airlines of 2022, according to travelers
Qatar Airways has been named the world’s best airline at the Skytrax World Airline Awards 2022, while Singapore Airlines Ltd. and Emirates landed in the second and third spots respectively.
BUSINESS
Singapore bourse follows global rivals with EV metals futures
SGX is due to kick off trading in two lithium and two cobalt contracts on Monday. The London Metal Exchange and CME Group Inc. already offer futures for both metals, although trading liquidity is still far below established commodities contracts.
BUSINESS
Stock traders brace for a steeper dive as Fed ups recession fear
Any hopes that stocks had priced in the bulk of the bad news heading into the Fed’s latest meeting are now dashed. The S&P 500 Index lost more than 4% since mid-day Wednesday, when the central bank raised rates by three-quarters of a percentage point and signaled that a more aggressive pace of hikes than expected is on the way.
BUSINESS
Tech stocks face another 10% drop or more as strong dollar hits profits
More than two-thirds of 914 respondents in the MLIV Pulse survey think profits of the technology companies will disappoint the market throughout 2022.
WORLD
China traders see property boost, Covid-19 zero resolve at Congress
A key strategy is to bet on more stimulus for the property market as authorities seek to rescue the ailing industry. Bloomberg Intelligence expects some steps to complete stalled housing projects following the Oct. 16 leadership gathering, which can in turn support the banking sector by reducing loan risks and boosting mortgage demand.
WORLD
The great bond bubble is ‘Poof, Gone’ in worst year since 1949
With central banks worldwide aggressively ratcheting up interest rates in the face of stubbornly high inflation, prices are tumbling as traders race to catch up. And with that has come a grim parade of superlatives on how bad it has become.
WORLD
The great bond bubble is ‘Poof, Gone’ in worst year since 1949
With central banks worldwide aggressively ratcheting up interest rates in the face of stubbornly high inflation, prices are tumbling as traders race to catch up. And with that has come a grim parade of superlatives on how bad it has become.
WORLD
What to watch out for in the world economy this week
All economists surveyed by Bloomberg predict a new all-time high for consumer-price increases. The median forecast is 9.7 percent, with four predicting a double-digit outcome.
BUSINESS
China security official gets life imprisonment as Xi Jinping crushes ‘political clique’
Former Vice Public Security Minister Sun Lijun, 53, was given a suspended death sentence with no possibility of parole by a court in Changchun city, Jilin province, state broadcaster China Central Television reported. He was found guilty of taking 646 million yuan ($91 million) of bribes, as well as stock manipulation and illegal gun possession, the report said.
BUSINESS
Citigroup sets India as high priority market amid China risks
India presents “very clear” opportunities, said Manolo Falco, the global co-head of Banking, Capital markets and Advisory, in an interview in Mumbai. The New York-based lender expects initial public offerings in India to pick up next year as well as inbound deals in renewable energy and infrastructure, he said.
