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  • Aug 28, 2024

China’s Two Richest People Lose Billions in Consumer Stock Rout

(Bloomberg) -- Record-breaking stock selloffs in two of China’s biggest consumer companies erased more than $18 billion from the fortunes of the nation’s richest people, underscoring deepening investor concern over the health of Asia’s biggest economy.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityChina’s wealthiest person, N

  • Aug 28, 2024

Market Darling Abercrombie & Fitch to Make a Full Comeback to HK

(Bloomberg) -- Apparel retailer Abercrombie & Fitch Co., which has emerged as one of America’s hottest stocks over the past year, is planning a full-fledged return to Hong Kong eight years after it shut its flagship store in the city, according to people familiar.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityThe company will

  • Aug 28, 2024

China’s Credit Market Sees First Floating Rate Bond Since 2020

(Bloomberg) -- A Chinese local government financing vehicle is selling the first floating rate corporate note seen in the domestic bond market in more than four years, even as interest rates in the country are at historically low levels.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityShanghai Lingang Economic Development (Grou

  • Aug 27, 2024

Australia inflation eases in July, but progress still slow

SYDNEY (Reuters) -Australian inflation slowed to a four-month low in July as government rebates on electricity bills kicked in, but progress on tempering price gains elsewhere disappointed and led markets to pare back the chance of a near-term cut in interest rates. The consumer price index (CPI) rose at an annual pace of 3.5% in July, down from 3.8% in June, Australian Bureau of Statistics data showed on Wednesday. The figure was slightly above forecasts of 3.4%, leading markets to slightly lengthen the odds of a first easing from the Reserve Bank of Australia in November to 48.4%, from 58% before.

  • Aug 27, 2024

Australian Inflation Cools, RBA Set to Retain Hawkish Bias

(Bloomberg) -- A gauge of Australian monthly inflation cooled in July, suggesting price pressures began to ease in the current quarter though not fast enough to warrant early interest-rate cuts.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunThe consumer price indicator climbed 3.5% from a year earlier, down from 3.8% and just above economists’ estimate, government data showed Wednesday. The trimme

  • Aug 27, 2024

Kroger Egg Pricing Turns Merger Trial Into Inflation Fight

(Bloomberg) -- Kroger Co. hiked prices on milk and eggs more than needed to account for inflation, the company’s top pricing executive testified during a court hearing on the US government’s bid to block the grocery chain’s purchase of rival Albertsons Cos.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunIn a March email to his bosses, Andy Groff, Kroger’s senior director for pricing, acknowledged t

  • Aug 27, 2024

Nifty 50 Eyes New Record Despite Sluggish Wall Street Cues

(Bloomberg) -- Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityBefore the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:Primary market lures foreigners Zee’s legal woes end Fed pivot to boost bonds Good morning, this is Chiranjivi Chakraborty, an equities

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