Delhiites woke up to a pleasant and cool morning with minimum temperature settling at 23 degrees Celsius, 7 notches below normal, while India Meteorological Department (IMD) forecast a generally cloudy sky with moderate rain on Friday. The maximum temperature in the city is expected to settle at 32 degrees Celsius, it said. “Light to moderate […]
India has raised basic import duty on gold to 12.5 per cent from 7.5 per cent, according to a government notice dated June 30. This step has been taken to reduce influx of gold into the world’s second-largest consumer of the precious metal, after India’s ballooning trade deficit pushed the Rupee to a record low. […]
BOSTON/LONDON — Russia’s invasion of Ukraine has exposed a gap in socially-minded investing – a hands-off approach to geopolitics and human rights. Read More
(Bloomberg) — The European Union suggested changes to its 20-billion-euros ($20.97 billion) plan to finance a shift away from Russian fossil fuels, seeking to alleviate member states’ concerns over the way funds from a carbon market-based tool will be distributed. Read More
NEW YORK — Concerns about a possible U.S. recession are prompting some fund managers to rotate back into the big tech and growth winners of the last decade in the hope that they can better weather an economic storm. Read More
Industrial conglomerate 3M Co said on Friday it will exit its Neoplast and Neobun brands in Thailand and some other Southeast Asian countries, and sell manufacturing assets at its Ladlumkaew plant, as part of its strategic portfolio management. Read More
John Lee, a former top police official of Hong Kong, was sworn in as the city’s new Chief Executive by Chinese President Xi Jinping. Lee and his cabinet take office Friday, a date the former British colony marks its 25th anniversary of Chinese rule. (Lee’s remarks are translated)
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Caroline Hyde, Taylor Riggs, Carol Massar and Michael Regan.
Richard Harris, chief executive officer of Port Shelter Investment Management, discusses the outlook for the Chinese economy. He also talks about the prospects for Hong Kong as the city marks its 25th anniversary of Chinese rule. He speaks with Shery Ahn and Haidi Stroud-Watts on “Bloomberg Daybreak: Asia.”
Evercore ISI Chairman Ed Hyman discusses Federal Reserve policy, the impact of inflation on consumer spending, and outlook for the US economy on “Balance of Power.”