From Robots to Recycled Vapes, Ukraine’s War Effort Gets Inventive
The battered country is nurturing a cottage industry of military gadgetry, and the pipeline of science and tech creativity is bearing fruit.
Bloomberg Business
Bumper Year for Banks Draws Political Backlash as Slowdown Nears
European banks have enjoyed record levels of net interest income over the last year. That’s tempting some governments to try to tax those profits just as the cycle appears to have peaked.
Japan, Korea Tourism Stocks Rise as China Resumes Group Tours
China’s decision to reopen the door for group tours to Japan and South Korea sparked a flurry of buying Thursday in retail, cosmetics and travel stocks in Tokyo and Seoul.
Country Garden Worries Drag China’s Junk Bonds to 2023 Low
Chinese junk dollar bonds extended their slump as missed dollar bond interest payments that may lead to a default by major developer Country Garden Holdings Co. darkened the outlook for the debt-stricken sector.
Deflation in China: Why Prices Are Falling and What Beijing Can Do
July’s data left no doubt: China is now clearly dealing with a deflation threat. Consumer and producer prices fell together for the first time since 2020, adding to concerns about the health of the world’s second-largest economy. News that China’s prices are falling may be somewhat jarring, given the inflationary pressures in many other parts of the world. But the unique factors contributing to China’s problems are deep and ingrained. Solving them may not be an easy fix.
Osaka Gas, Sumitomo Near Deal for Think Gas Stake, Sources Say
Osaka Gas Co. and Sumitomo Corp. are nearing a deal to buy about a 30% stake in Think Gas Distribution Pvt. that could value the Indian natural gas supplier at as much as $1.5 billion, according to people familiar with the matter.
Asia Stocks Mixed as Investors Prepare for US CPI: Markets Wrap
Equity markets in Asia fluctuated Thursday following a tech-led sell-off on Wall Street as investors await US monthly inflation data that will help shape the outlook for the Federal Reserve’s next steps.
Ecuador Presidential Candidate Assassinated, Suspect Shot Dead
Ecuador presidential candidate Fernando Villavicencio, a journalist known for his crusade against corruption, was assassinated less than two weeks before an election where soaring drug violence dominated the campaign.
Chinese Appliance Giant Midea Picks BofA, CICC for Hong Kong Listing
Chinese home appliance giant Midea Group Co. has selected Bank of America Corp. and China International Capital Corp. to arrange its planned Hong Kong listing, according to people familiar with the matter.
SEC Seeks to Appeal Ruling That Ripple XRP Isn’t a Security
The US Securities and Exchange Commission said it intends to challenge a federal judge’s ruling that Ripple Labs Inc.’s XRP token isn’t a security when sold to the general public.