(Bloomberg) — Nike Inc. shares fell after the company warned that sales will decline this quarter amid persistent weakness in China and at its Converse brand. The world’s largest sportswear company expects revenue to be down in the low-single digits in the three months that started Dec. 1, a surprising turn after two straight periods…
China is estimated to have secured more than half of the 12 million tonnes of soybeans that Washington says Beijing committed to purchase by early 2026, based on US government data and market conventions that analysts say usually indicate China, though little has been shipped so far, heightening concerns over potential cancellations. While the US…
(Bloomberg) — Chinese artificial intelligence startup DeepSeek has relied on Nvidia Corp. (NVDA) chips that are banned in the country to develop an upcoming AI model, according to a new report in The Information. Nvidia’s Blackwell chips were smuggled into China through countries that permitted their sale, The Information reported, citing unnamed sources. More specifically,…
(Bloomberg) — China’s manufacturing activity contracted in November, according to official and private surveys, as stronger demand overseas after a trade truce with the US failed to reverse a deepening slowdown in the economy. Despite a surge in new export orders, the RatingDog China manufacturing purchasing managers’ index unexpectedly slumped to 49.9, according to a…
(Bloomberg) — Two of China’s private data agencies skipped releasing data on monthly home sales by the country’s top developers, after state-backed China Vanke Co. stirred market concerns with its bond extension bid. China Real Estate Information Corp. and China Index Academy, which are among the country’s biggest private property data providers, didn’t disclose the…
Hong Kong stocks dropped on Friday after four days of advances, as investors searched for fresh catalysts beyond expectations about a US interest-rate cut that reversed a tumble triggered by concerns about an artificial-intelligence bubble. The Hang Seng Index fell 0.2 per cent to 25,891.18 as of 11.13am local time. For the month, the benchmark…
(Bloomberg) — Gold declined as traders weighed the chances of another Federal Reserve interest-rate cut before the end of the year. Bullion traded near $4,040 an ounce after a modest weekly loss. Several US central bank officials sounded a cautious note on monetary policy, though New York Fed President John Williams said he sees room…
(Bloomberg) — China’s Premier Li Qiang came to the Group of 20 summit not only poised to defend his country’s rare earths curbs, but also armed with offerings to quell concerns of developing nations. Critical minerals became a defining theme of Africa’s first G-20 summit this weekend. Sessions were dedicated to the topic as European…
(Bloomberg) — Wall Street thought blowout earnings from Nvidia Corp (NVDA) would calm investors’ nerves about a bubble forming in artificial intelligence stocks. They didn’t. Most Read from Bloomberg So where does the AI trade stand now? It depends who you ask. On one side you have the skeptics. They’re concerned about soaring market valuations…
Traders work on the floor of the New York Stock Exchange. (Bloomberg) — Bond traders all but scrapped their bets on a December interest-rate cut after the government canceled the publication of the October employment report, leaving Federal Reserve officials without a key piece of economic data before their final meeting of the year. Most…