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  • Dec 17, 2024

Brazil Traders ‘Sell First, Ask Later’ as Panic Hits Markets

(Bloomberg) -- First it was a collapse in the currency. Now the rest of Brazil’s financial markets are in the cross-hairs as investors lose faith in the government’s ability to contain a deepening fiscal crisis.Most Read from BloombergHow California Sees the World, and ItselfThe selloff that sent the real plunging to a record low is engulfing everything from stocks to local-currency debt to dollar bonds, with traders even piling into hedges against a sovereign default. Market watchers say extrao

  • Dec 17, 2024

European Car Stocks Entice Bargain Hunters With 50% Discount

(Bloomberg) -- After a dismal year, shares of Europe’s automakers are finally finding some positive momentum as signs of additional Chinese stimulus draw investors to the sector’s lowly valuations.Most Read from BloombergHow California Sees the World, and ItselfThe Stoxx 600 Autos and Parts Index is up more than 4% in December, set for its best month since February, though is still down the most of any sector in the broader benchmark year-to-date. Even after the recent gains, carmakers trade at

  • Dec 17, 2024

Italy's BPM asks market watchdog to protect stakeholders after UniCredit bid

MILAN (Reuters) -Italy's Banco BPM said it has asked market watchdog Consob to adopt measures to protect the bank's stakeholders and its bid for Anima, after rival UniCredit launched its own bid for BPM. Banco BPM had complained before that UniCredit's 10 billion euro all-share bid jeopardised its buyout proposal for fund manager Anima.

  • Dec 17, 2024

BOK’s Rhee Expects Martial Law Turmoil to Hurt Economic Growth

(Bloomberg) -- Bank of Korea Governor Rhee Chang-yong said Wednesday that the ongoing political turmoil in South Korea weighs on the economy, suggesting authorities may downgrade growth forecasts and take stabilizing actions in response.Most Read from BloombergHow California Sees the World, and ItselfThere’s a high chance South Korea’s gross domestic product will grow 2.1% this year rather than 2.2% as projected earlier, Rhee said as he assessed the economic impact of the turbulence that began w

  • Dec 17, 2024

OPEC+ wary of renewed US oil output rise under Trump, sources say

OPEC+ is wary of a renewed rise in U.S. oil output when Donald Trump returns to the White House, delegates from the group said, because more U.S. oil would further erode OPEC+ market share and hamper the producer group's efforts to support prices. OPEC+ pumps about half of the world's oil and earlier this month delayed a plan to raise output until April.

  • Dec 17, 2024

As bitcoin soars, luxury brands consider accepting crypto payments

Bitcoin’s soaring value has caught the attention of high-end fashion brands and retailers, prompting further interest in offering cryptocurrencies as a means of payment to tap in to fresh pockets of wealth and build loyalty with crypto investors. Until recently, only a handful of luxury brands including LVMH watch labels Hublot and Tag Heuer as well as Kering-owned fashion brands Gucci and Balenciaga have experimented with crypto payment offers. In recent weeks, upscale French luxury department store Printemps announced it was teaming up with the world's largest crypto exchange, Binance, and French financial tech company Lyzi to accept cryptocurrencies including bitcoin and ethereum in its stores in France - becoming the first European department store to do so.

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