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Updated: 49 min 31 sec ago

Oil prices drop on OPEC's output deal, but markets to stay tight

5 hours 17 min ago

Oil prices fell on Monday as traders factored in an expected 1 million barrels per day (bpd) output increase in the wake of an Organization of the Petroleum Exporting Countries (OPEC) meeting in Vienna last week. Brent crude futures (LCOc1) were at $74.25 per barrel at 0636 GMT, down 1.7 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures (CLc1) were at $68.42 a barrel, down 0.2 percent, supported more than Brent by a slight drop in U.S. drilling activity and a Canadian supply outage.

Categories: Financial News

European markets open lower on trade, migration concerns

6 hours 15 min ago

European equities open lower on Monday morning as investors worry over further tariffs in global trade.

Categories: Financial News

In Texas, Trump's steel tariff stirs uncertainty and concern

6 hours 32 min ago

Joel Johnson examines the shipping labels on 35-ton coils of American-made steel that will be unspooled, bent and welded into rounded sections of pipe. Trump says his tariffs on steel, aluminum and other goods will put U.S. companies and workers on stronger footing by winding back the clock of globalization with protectionist trade policies. The Commerce Department has been deluged with requests from 20,000 companies seeking exemptions.

Categories: Financial News

GE nears deal to sell Industrial-Engines Unit to private-equity firm - report

7 hours 49 min ago

GE is aiming to sell $20 billion in assets by end of next year.

Categories: Financial News

Xiaomi IPO Set to Be the World's Biggest in Nearly Two Years

9 hours 47 min ago

Jun.24 -- Xiaomi's IPO is priced at up to 29.3 times forecast earnings and its CFO says the company deserves such a premium. Bloomberg Intelligence's Vey-Sern Ling discusses the IPO on "Bloomberg Markets: Asia."

Categories: Financial News

Shanghai Composite on the Edge of a Bear Market

9 hours 55 min ago

Jun.24 -- The Shanghai Composite is teetering on the edge of a bear market as investors face the possibility of a U.S.-China trade war. Bloomberg's Divya Balji reports on "Bloomberg Markets: Asia."

Categories: Financial News

China will lift part of its 'Great Firewall' to give foreigners access to Facebook, YouTube, and Twitter on a tropical island dubbed 'Hawaii of the East'

10 hours 20 min ago

China's Hainan island has released plans to give tourists access to Facebook, YouTube, and Twitter in parts of two cities. A partial lifting of the county's "Great Firewall" is part of an attempt to make the southern island a free trade zone and tourist hub. The local government's plan is no longer available online.

Categories: Financial News

Saxo's Creagh Sees Opportunities in China Consumer Discretionary, Tech Stocks

11 hours 9 min ago

Jun.24 -- Eleanor Creagh, market strategist for Saxo Capital Markets, talks about the Chinese central bank's decision to cut the amount of cash some lenders must hold as reserves, and the implications for the nation's stock market. She speaks on "Bloomberg Daybreak: Asia" with Yvonne Man and Haidi Lun,

Categories: Financial News

Brent oil prices drop by 2 percent as traders expect output rise after OPEC deal

11 hours 20 min ago

Brent crude oil prices fell by more than 2 percent early on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday. Brent crude futures , the international benchmark for oil prices, were at $73.90 per barrel at 0035 GMT, down 2.2 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $68.36 a barrel, down 0.3 percent, supported by a slight drop in U.S. drilling activity.

Categories: Financial News

China's weekend monetary policy moves were 'sensible': JP...

11 hours 49 min ago

Nick Gartside of J.P. Morgan Asset Management says China's move to cut the cash reserve ratio for banks has supported demand for U.S. Treasurys and the dollar.

Categories: Financial News

AT&T managers encouraged unethical DirecTV Now sales pitches

12 hours 7 min ago

There's no question that AT&T really, really likes it when customers sign up

Categories: Financial News

Xiaomi Paves Way With $6.1B IPO

June 24, 2018 - 4:55pm

Jun.24 -- As part of our Venture China series, Qiming Venture Partners founding partner Duane Kuang told Bloomberg's Tom Mackenzie why he hopes the world's largest IPO in more than 2 years will pave the way for more mega-deals in the region.

Categories: Financial News

'People were expecting' Erdogan's win in Turkey: Executiv...

June 24, 2018 - 4:54pm

Karine Hirn of East Capital says Recep Tayyip Erdogan's win in the Turkish presidential election now brings the focus to the country's economy and the role of its central bank.

Categories: Financial News