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Lula Ignores Aides and Sparks Market Rout That Threatens Economy
  • December 2, 2024

Lula Ignores Aides and Sparks Market Rout That Threatens Economy

(Bloomberg) -- The dangers were crystal clear. Top economic aides to President Luiz Inacio Lula da Silva had pointed them out to him again and again: Any moves to water down the fiscal-austerity plan in the works will spark a selloff — another selloff — across Brazilian financial markets.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionAnd yet, Lula decided he did not care. He ordered his staff to

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Art Cashin, Wall Street veteran and CNBC regular, dies at age 83
  • December 2, 2024

Art Cashin, Wall Street veteran and CNBC regular, dies at age 83

Art Cashin, a renowned market pundit and the UBS director of floor operations at the New York Stock Exchange, has died at the age of 83, UBS said. Cashin, once dubbed "Wall Street's version of Walter Cronkite" by The Washington Post, was a regular on CNBC, delivering stock market commentary and analysis to the business news channel's viewers for more than 25 years. "It is with a heavy heart that I inform you of the passing of Arthur Cashin, Jr., a true giant in our industry," Bill Carroll, head of sales and development at UBS Wealth Management USA, said in a memo sent to employees on Monday.

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Warren Buffett’s Contrarian Bets on 2 Stocks Bank of America Warns Against
  • December 2, 2024

Warren Buffett’s Contrarian Bets on 2 Stocks Bank of America Warns Against

Investors are constantly on the lookout for an edge and one of the best ways to do that is by following in the footsteps of Wall Street’s most lauded investors. And it’s safe to say hardly any are deemed more legendary than Warren Buffett. Dubbed the “Oracle of Omaha,” and boasting an unmatched multi-decade career, Buffett is known for his exceptional investing acumen and disciplined value-based approach. As the chairman and CEO of Berkshire Hathaway, he has built one of the world’s largest firm

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Yen Carry Trade That Rattled Markets Shows Signs of a Comeback
  • December 2, 2024

Yen Carry Trade That Rattled Markets Shows Signs of a Comeback

(Bloomberg) -- The yen carry trade — an investment strategy that blew up in spectacular fashion this year — is regaining popularity. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsJapanese retail investors as well as leveraged funds and asset managers outside the country are estimated to have boosted bearish wagers on the yen to $13.5 billion in November from $9.74 billion in October, according t

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Nomura’s Japan Corporate Bond Market Rank Slips After Probe
  • December 2, 2024

Nomura’s Japan Corporate Bond Market Rank Slips After Probe

(Bloomberg) -- Nomura Holdings Inc.’s ranking in the corporate bond market remains under pressure after its reputation was hit by a market manipulation scandal at a time of greater scrutiny of governance breaches in Japan.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionJapan’s biggest brokerage saw its position fall to sixth place in November and its market share shrink to 2.1%, the latest data co

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Chinese recycling firm Carbon Zero aims to replicate success overseas after Nasdaq IPO
  • December 2, 2024

Chinese recycling firm Carbon Zero aims to replicate success overseas after Nasdaq IPO

Shenzhen-based recycling firm Carbon Zero Technologies International, which is eyeing a US listing, is aiming to replicate its success in mainland China globally despite geopolitical uncertainties, according to its founder. Carbon Zero, founded in 2016, operates an online platform that dispatches recycling orders from individuals, retail outlets and consumer brands to its recycling personnel. With thousands of physical sorting centres across China, the company then sells recycled items to disman

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