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Bloomberg
6 minutes ago
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Palo Alto Gains on Strong Results After Cyberark Deal
Palo Alto Networks CEO Nikesh Arora joins Open Interest to discuss the company's strong results. He says the volume and speed of GenAI cyberattacks can only be combatted by AI-powered cybersecurity products. (Source: Bloomberg)
Yahoo
22 minutes ago
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Funds With $617 Billion Turn Less Bearish on China, Survey Shows
(Bloomberg) -- Money managers are scaling back their bearish stance on China, adding technology and consumer stocks to their portfolios amid a four-month-long rally, according to an HSBC Holdings Plc survey. Mainland China currently accounts for almost 28% of portfolios across nearly 300 actively-managed emerging-market funds overseeing a combined $617 billion, the survey shows. That's up from 22.5% a year earlier, though the group as a whole remains 340 basis points underweight. Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone A Photographer's Pipe Dream: Capturing New York's Vast Water System Why New York City Has a Fleet of New EVs From a Dead Carmaker A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Princeton Plans New Budget Cuts as Pressure From Trump Builds 'Demand for mainland China has improved since April, with the underweight narrowing by about 60 basis points,' the bank's head of global equity strategy Alastair Pinder and analyst Pankaj Agarwala wrote in a report Tuesday. The shift comes amid a strong year for Chinese equities, with stocks listed on the Shanghai or Shenzhen Stock Exchanges poised for their fourth straight month of gains. China's tech shares got a boost at the start of 2025 thanks to the nation's progress in generative artificial intelligence. Investors are also getting more confident about China's ability to weather US President Donald Trump's tariffs as officials continue to negotiate. Investors surveyed by HSBC boosted their allocations to shares of Alibaba Group, Xiaomi and BYD. Alibaba is among the biggest contributors for gains in a benchmark emerging-market index this year. Elsewhere, Latin America remains a consensus overweight among EM stock pickers, with MercadoLibre among favored picks. Investors are also showing renewed interest in South Korea following its June elections, while paring back positions in Poland after a strong year-to-date rally. 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 Yosemite Employee Fired After Flying Trans Pride Flag ©2025 Bloomberg L.P.
Yahoo
22 minutes ago
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US Targets Chinese Steel And Lithium for Forced-Labor Scrutiny
(Bloomberg) -- The Trump administration said it will step up scrutiny of imports of steel, copper, lithium and other materials from China to enforce a US ban on goods allegedly made with forced labor in the country's Xinjiang region. Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone A Photographer's Pipe Dream: Capturing New York's Vast Water System Why New York City Has a Fleet of New EVs From a Dead Carmaker A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Princeton Plans New Budget Cuts as Pressure From Trump Builds The announcement of new 'high-priority sectors' targeted under the four-year-old Uyghur Forced Labor Prevention Act was included Tuesday in an annual update to the US government's enforcement efforts. It also dovetails with President Donald Trump's broader trade goals, as he seeks to lower the US trade deficit with China and pressures Beijing to curb shipments of fentanyl and precursor chemicals. 'America has a moral, economic, and national security duty to eradicate threats that endanger our nation's prosperity, including unfair trade practices that disadvantage the American people and stifle our economic growth,' Homeland Security Secretary Kristi Noem said in a statement. Still, the administration went ahead with the announcement at a time when Trump has sought to improve relations with his counterpart, Xi Jinping. The US president last week extended a pause on higher tariffs on goods from China for 90 days as he seeks an in-person meeting with the Chinese leader. Under the 2021 law, the US government assumes that anything made even partially in the Chinese manufacturing hub of Xinjiang is produced with forced labor and cannot be imported into the US. Companies may win exemptions if they can provide 'clear and convincing evidence' forced labor was not used. The measure is meant to help combat alleged repression of Uyghurs and other minorities in the province of Xinjiang. Beijing has repeatedly denied accusations that minorities are compelled to work against their will. Although the law applies to all goods, it originally singled out apparel, cotton and cotton products, tomatoes and silica-based products — including polysilicon — as high-priority sectors for enforcement. Under former President Joe Biden, the government expanded the products subject to extra scrutiny to include aluminum, polyvinyl chloride and seafood. The Trump administration's Tuesday announcement expands the list again to encompass red dates, caustic soda and lithium, as well as steel and copper. The US doesn't import significant tonnage of copper from China, according to data from Morgan Stanley. In 2024, the US imported about 470,000 tons of steel from China, equal to 0.5% of domestic consumption, according to the Commerce Department. --With assistance from Joe Deaux. 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 Yosemite Employee Fired After Flying Trans Pride Flag ©2025 Bloomberg L.P.