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The Latest Breaking News from Bloomberg Economics

RBI may have sold gold to save foreign reserves, BE report shows

The RBI may have sold about $12 billion worth of gold reserves in the two weeks through May 22 to protect its foreign-currency assets amid capital outflows and rising oil prices, according to Bloomberg Economics. The move suggests policymakers are prioritising liquid forex reserves as Middle East tensions pressure the…

The Economic Times

Trump returns from China with little progress on reopening Hormuz

Iran says passage through the Strait of Hormuz will return to normal once security is restored. US President Donald Trump seeks to reopen the critical waterway after talks with China. Iran insists on maintaining control. Disruptions have caused oil prices to surge. The US has imposed sanctions on Iran's oil…

The Economic Times

Trump snatches Maduro but leaves his regime in charge for now

For now, there’s no plan spelled out to have American troops or administrators in Venezuela.

Fortune

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Trump Targets China's Backdoors—Vietnam And Mexico ETFs Could Pay The Price

President Donald Trump’s latest shot in his economic battle with China isn’t simply about imposing tariffs on products marked “Made in China.” It’s about tracing the crumbs of global supply chains and slamming the doors wherever Chinese goods may be slipping through. And collateral damage? Maybe it lies in your…

Benzinga

US-Vietnam Trade Deal Sows New China Uncertainty

Vietnam's trade deal with the United States averts the most punishing of Donald Trump's "reciprocal" levies but analysts warned it could provoke a fresh standoff between Washington and Beijing.

International Business Times

Steady Unemployment, Moderate Job Growth May Halt Larger Rate Cuts From Fed

Chief U.S. economist at Bloomberg Economics, Anna Wong, said that the payroll growth count may turn out to be a surprise for some. She expects a higher figure for the September jobs: 188,000.

International Business Times

Tuna sells for $789,000, thanks to its freshness and vibrant color

In light of the recent earthquake, the buyer had mixed emotions about participating in the auction, a popular tourist attraction in Japan.

USA Today Sports Media Group

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UK construction output falls again; job cut fears as British Steel confirms plans to shut blast furnaces – business live

UK housebuilding decreased for the eleventh month running in October, while 2,000 jobs could be threatened if British Steel replaces two blast furnaces in Scunthorpe

The Guardian - UK

China slowdown means it may never overtake US economy, forecast shows

WASHINGTON/BEIJING: China is no longer set to eclipse the US as the world’s biggest economy soon, and it may never consistently pull ahead to claim the top spot as the nation’s confidence slump becomes more entrenched.

The Times of India

Can China Restore Confidence in its Markets?

China’s property debt crisis shows no signs of receding and has even spread into the country’s shadow banking. This week, Zhongzhi Enterprise Group, a privately owned manager of more than 1 trillion yuan ($137 billion), and its trust company affiliates are under scrutiny after halting payments to thousands of customers...

Barchart

Gautam Adani crisis likely to leave India’s conglomerates unscathed

MUMBAI: The dramatic fall in the Adani group’s shares following allegations by Hindenburg Research is unlikely to spill over to other Indian conglomerates as they fare well on key business parameters, according to Bloomberg Economics.

The Times of India

It’s a Business Free-for-All in a Russia Transformed by Sanctions

In Putin’s “mobilization economy,” entrepreneurs find creative ways to meet demand, like converting Krispy Kreme into Krunchy Dream, Starbucks into Stars Coffee.

Businessweek

Putin buys off the poor, writes off middle class with war budget

Alexei Malov’s dream was to own a white Lada.

Tribune News Service

The Global Economy of 2023 Is Going to Be a Wild Ride

The pillars of prosperity that supported 30 years of growth have crumbled. Now the world has to cope with inflation, labor shortages and geopolitical unrest.

Businessweek

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Businessweek

China Is the Wild Card for Global Inflation in 2023

The country’s long-awaited emergence from Covid Zero would ignite its economy and put upward pressure on prices around the world.

Businessweek

A Practical Way to Make Sense of All the Shocks Hammering the Global Economy

Brexit, the US-China trade war, Russia’s invasion of Ukraine—more such geopolitical surprises will continue the economic upheaval.

The Times of India

India’s inflation may be lower than data suggests, report says

NEW DELHI: India’s inflation numbers might be better than official data suggests once the massive impact of a government food program is factored in, according to a report released Monday by Bloomberg Economics.

Tribune News Service

Global housing market pain has echoes of a crash 30 years ago

When Covid sent the UK economy into lockdown in 2020, the government jumped in to help the property market by cutting a tax on purchases. The temporary measure triggered a kind of mania among buyers, who responded by bidding up average prices by £31,000 ($35,000) — more than double the…

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The Times of India

Rupee may fall to a new record low on worsening current account

NEW DELHI: The worst is still to come for the Indian rupee after its slide in May to a historic low, according to analysts and forward markets.

The Times of India

Global economy loses $1.6 trillion as world struggles to avoid a new cold war

LONDON: The ties that bind the global economy together, and delivered goods in abundance across the world, are unravelling at a frightening pace.

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