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Bloomberg
11 minutes ago
- Bloomberg
Rebooting Auto: How Tech Pioneers Are Reshaping the Global Automotive Establishment (APAC)
Global automakers are facing an accelerating wave of disruption from technology companies in China and Silicon Valley. This is unfolding on multiple fronts: smartphone makers bringing device expertise into the car (Xiaomi); AI specialists pushing autonomous driving closer to commercial reality (Waymo, Baidu, Tesla); and, more broadly, a shift in what defines differentiation in cars — batteries, software and semiconductors — disciplines outside the traditional industry's core strengths. In this webinar, Bloomberg analysts from our technology and mobility research teams will assess which companies are best positioned to join a reshaped cast of players in the global automotive value chain in the decade ahead, and explore the implications of the industry's 'rebooted' future. Demian Flowers Global Automotive Industry Specialist Bloomberg Steven Tseng Senior Analyst Bloomberg Intelligence Steven Tseng is a senior analyst covering the Asia Pacific technology hardware supply chain, with specific focuses on computing hardware, consumer electronics, and ODM/EMS related sectors. Prior to joining Bloomberg Intelligence in December 2021, he had 20 years of experience as a sell-side research analyst at the firms such as Daiwa Capital Markets, Samsung Securities, RBS, ABN AMRO, etc. Before that, he was a corporate banker with Citibank Taipei. Steven holds an MBA degree from National Chengchi University in Taiwan. He is also an Institutional Investor-ranked analyst and The Thomson Reuters Analyst Awards winner. Mandeep Singh Head of Global Technology Research Bloomberg Intelligence Mandeep Singh, CFA is a senior equity analyst and the global head of technology sector research at Bloomberg Intelligence. His coverage includes infrastructure software and Internet companies and he is an established thought leader for secular trends in tech space including generative AI, cloud, machine learning and cybersecurity. Mandeep's research focuses on business models, valuations and growth prospects of technology companies, which translates to actionable ideas for the investment community. He is also host of the podcast series called 'Tech Disruptors', which features conversations with thought leaders and management teams on disruptive trends. Mandeep has a MBA from New York University and Masters in Data Science from Columbia University. Andrew Grant Head of Intelligent Mobility BloombergNEF Andrew Grant leads BloombergNEF's global Intelligent Mobility research team, which produces research, datasets and long-term outlooks on shared mobility services and autonomous vehicles. Andrew is also an author and the lead modeler of BNEF's annual 'Long-Term Electric Vehicle Outlook'. Based in London, U.K., Andrew holds MSc Applied Economics and Bachelor of Business Science in Economics degrees from the University of Cape Town.
Yahoo
33 minutes ago
- Yahoo
China Ratchets Up Budget Spending at Fastest Pace Since 2022
(Bloomberg) -- China's broad fiscal spending expanded at the fastest pace in almost three years, pushing the deficit to another record as the government steers an economy grappling with weakening demand and higher tariffs. Total expenditure rose 9.3% to 21.5 trillion yuan ($3 trillion) in the first seven months of 2025 from a year ago, according to Bloomberg calculations based on data released by the Finance Ministry on Tuesday. That's the fastest increase since August 2022. Why New York City Has a Fleet of New EVs From a Dead Carmaker Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone Trump Takes Second Swing at Cutting Housing Assistance for Immigrants A Photographer's Pipe Dream: Capturing New York's Vast Water System A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome As a result, the broad fiscal gap reached 5.6 trillion yuan in the January-July period, with the shortfall widening 49% from a year ago. Faster fiscal stimulus — which includes everything from infrastructure spending to civil servants' salaries — didn't translate into quicker economic growth in July, when activities recorded an unexpectedly sharp slowdown. Authorities blamed extreme weather that disrupted construction, while local governments experienced a temporary funding shortage for their program of consumer subsidies. The government's focus is tilting toward social welfare from infrastructure, which last month may have contributed to the biggest contraction in overall investment since early 2020. Government spending that covers social outlays in areas like education expanded at a faster clip in July from June. Huatai Securities estimates that expenditure on social security and employment as well as public health grew in double digits year-on-year. Meanwhile, infrastructure spending fell 3.6% from a year ago in July, extending from the 9.9% drop a month ago, according to GF Securities. Apart from weather disruptions, there may be a lag in the allocation of central government funds for major construction projects, analysts from GF Securities said in a report Tuesday. What Bloomberg Economics Says... 'Should the economy slow noticeably, there could be some modest additional stimulus, potentially in the form of frontloading government bond issuance for 2026. Indeed, the weak growth momentum in July, should it continue, points to that possibility.' — David Qu and Chang Shu. For full analysis, click here Authorities may need to inject additional fiscal stimulus later this year to cushion the economy from the worsening property market, US tariffs and the negative impact on growth from the government's 'anti-involution' campaign that targets overcapacity, according to Goldman Sachs Group Inc. 'To ensure stable growth and employment into next year, we maintain our view that additional fiscal expansion may be needed towards year-end,' Goldman Sachs economists including Wang Lisheng said in a report. The broad spending combines outlays under the general budget, which mainly include everyday allocations, with expenditure in the government fund budget, which is weighted more toward capital investment projects. Total income in China's two main fiscal books was almost unchanged from a year ago in the first seven months. Tax revenue fell 0.3% from a year ago, narrowing its decline from June. The decline in land sales narrowed in the first seven months from the first half of the year, supported by premium land parcels recently sold in some of the biggest cities at record prices. (Updates with additional details throughout.) Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Americans Are Getting Priced Out of Homeownership at Record Rates Survived Bankruptcy. Next Up: Cultural Relevance? ©2025 Bloomberg L.P. Effettua l'accesso per consultare il tuo portafoglio
Yahoo
35 minutes ago
- Yahoo
Oil Holds Gain After Biggest Drop in US Stockpiles in Two Months
(Bloomberg) -- Oil held a gain after US crude stockpiles shrunk the most since mid-June, keeping inventories well below the seasonal average. Brent traded around $67 a barrel after climbing 1.6% on Wednesday, while West Texas Intermediate was near $63. Nationwide holdings fell by 6 million barrels last week, according to Energy Information Administration figures. Gasoline stockpiles also declined for a fifth straight week. Why New York City Has a Fleet of New EVs From a Dead Carmaker Trump Takes Second Swing at Cutting Housing Assistance for Immigrants Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Oil is still down more than 10% this year on concerns about the fallout from US trade policies and as OPEC+ returns idled production, raising expectations for a glut once peak summer demand ends. Traders are also keeping an eye on progress toward a ceasefire for the war in Ukraine. Moscow has largely kept its oil flowing despite an array of sanctions, with a large chunk going to India. However, the South Asian nation has been singled out for criticism by the US administration for buying Russia crude, with President Donald Trump threatening New Delhi with economic penalties. Meanwhile, crude inventories at the key US storage hub at Cushing, Oklahoma, rose for a seventh week, according to the EIA. The delivery point for WTI futures has seen a recent surge in supplies from the Permian Basin. 'In the long run, you got to look at the fundamentals and expect that we're going to be tumbling toward the downside up to at least the middle part of next year,' said John Driscoll, director and founder of Singapore-based consultant JTD Energy Services Pte. Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Survived Bankruptcy. Next Up: Cultural Relevance? Women's Earnings Never Really Recover After They Have Children Americans Are Getting Priced Out of Homeownership at Record Rates ©2025 Bloomberg L.P.
