"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Beijing and Tokyo with Haidi Stroud-Watts and Shery Ahn, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)
"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Beijing and Tokyo with Haidi Stroud-Watts and Shery Ahn, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)
London office leasing bounced back from Covid-era lows, with tenant floor-space expansions reaching a six-year high on rising demand from finance and professional services firms, according to broker Cushman & Wakefield . Businesses took up 9.6 million square feet of space across the UK capital last year, of which net additional area leased by existing tenants for expansion accounted for roughly 40...
London office leasing bounced back from Covid-era lows, with tenant floor-space expansions reaching a six-year high on rising demand from finance and professional services firms, according to broker Cushman & Wakefield . Businesses took up 9.6 million square feet of space across the UK capital last year, of which net additional area leased by existing tenants for expansion accounted for roughly 40%, data compiled by Cushman showed. Banks and other finance firms made up for almost a third of the total space taken as hedge funds such as Squarepoint Capital grew their operations. “We are generally seeing occupiers choose London and double down because of what it has to offer,” said James Campbell , head of London office leasing at Cushman. The surge in demand is coming at a time when the city is facing a dearth of high-quality office space after years of uncertainty linked to Brexit, the pandemic and rising interest rates discouraged development. The conflict in the Middle East isn’t likely to improve supply any time soon, as builders face the risk of higher construction costs. That means competition could get fierce with some financial and professional services firms jostling with a slew of artificial intelligence companies for the best space. Anthropic and OpenAI are among firms that are expanding in London. “The growth of AI is going to have an impact on all the other sectors because of their ability to make decisions quickly and choose the buildings they want,” Campbell said. Next year could see more financial occupiers taking space in London. Jane Street Group is set to almost double its footprint, while Bank of America Corp. and BlackRock Inc. have also been looking for new space.
The U.S. has cleared around 10 Chinese firms to buy Nvidia's second-most powerful AI chip, the H200, but not a single delivery has been made so far, three people familiar with the matter said, leaving a major technology deal in limbo as CEO Jensen Huang seeks a breakthrough in China this week. Huang, who was not initially listed in a White House delegation to Beijing, joined the trip after an inv...
The U.S. has cleared around 10 Chinese firms to buy Nvidia's second-most powerful AI chip, the H200, but not a single delivery has been made so far, three people familiar with the matter said, leaving a major technology deal in limbo as CEO Jensen Huang seeks a breakthrough in China this week. Huang, who was not initially listed in a White House delegation to Beijing, joined the trip after an invitation from President Donald Trump, a source said. Trump picked him up in Alaska en route to a summit with Chinese President Xi Jinping, raising hopes the trip could finally unlock stalled efforts to sell the H200 chips in China.
Joe Hendrickson/iStock via Getty Images Shares of Whirlpool ( WHR ) have been a disastrous performer over the past year, losing basically half of their value. While the company positioned itself as a tariff winner, that has simply not been the case, given higher raw material costs, large industry inventories, and consumers reluctant to make big-ticket purchases. Given my loss of confidence in its ...
Joe Hendrickson/iStock via Getty Images Shares of Whirlpool ( WHR ) have been a disastrous performer over the past year, losing basically half of their value. While the company positioned itself as a tariff winner, that has simply not been the case, given higher raw material costs, large industry inventories, and consumers reluctant to make big-ticket purchases. Given my loss of confidence in its cash flow story, I cut shares to a " S ell " in January , and that call has played out with the stock losing 45% since then, though the magnitude of the decline has surprised me. With updated financials and such poor performance, now is a good time to revisit WHR. Seeking Alpha In the company’s first quarter , Whirlpool reported a surprise loss of $0.56, $1.03 below expectations . Revenue was down nearly 10% from last year to $3.3 billion, and management described demand as being the worst since the financial crisis. It saw industry demand fall by 7.4% in Q1, with the full year likely to be down at least 5%. EBIT declined by 80% as the company saw material margin pressure and lost operating leverage from the decline in sales. Raw material pressured margins by 50bps. The price/mix was also 275bps headwinds. As a result, its EBIT margin was just 1.3%, which was down 460bps from last year. Whirlpool is now expanding its cost-cutting efforts, undertaking a $150 million program. Whirlpool Major appliance sales in North America declined 8% to $2.2 billion. Within this, it saw discretionary sales falling 15% as consumers push off purchases amid so much macro uncertainty. It is seeing some strength in spare parts, likely a sign that cost-conscious consumers are opting to repair machines rather than purchase new ones. Profits all but evaporated, dropping to just $6 million, down from $71 million in Q4 and $149 million a year ago. It is noteworthy that this is the region WHR expected to benefit from protective tariffs, and yet, it has proven to be Whirlpool’s most problematic. Whirlp...
“Bloomberg: The China Show” is your definitive source for news and analysis on the world's second-biggest economy. From politics and policy to tech and trends, David Ingles and Yvonne Man give global investors unique insight, delivering in-depth discussions with the newsmakers who matter. (Source: Bloomberg)
“Bloomberg: The China Show” is your definitive source for news and analysis on the world's second-biggest economy. From politics and policy to tech and trends, David Ingles and Yvonne Man give global investors unique insight, delivering in-depth discussions with the newsmakers who matter. (Source: Bloomberg)
Hogogo U.S. President Donald Trump met Chinese leader Xi Jinping in Beijing on Thursday morning, launching a high-stakes summit expected to span two days and focus on trade, tariffs, Taiwan, and Iran. The relationship between the two countries is going to be “better than ever before,” Trump told Xi in his opening remarks, according to official broadcast footage. Trump, who also traveled to China i...
Hogogo U.S. President Donald Trump met Chinese leader Xi Jinping in Beijing on Thursday morning, launching a high-stakes summit expected to span two days and focus on trade, tariffs, Taiwan, and Iran. The relationship between the two countries is going to be “better than ever before,” Trump told Xi in his opening remarks, according to official broadcast footage. Trump, who also traveled to China in 2017 during his first term, said he and Xi have known each other personally longer than any other U.S. or Chinese president. Speaking just ahead of Trump, Xi noted the global attention on the meeting, and said a major question for the two countries was whether they could avoid the “Thucydides Trap,” CNBC reported, citing an official English translation of Xi's Chinese remarks broadcast by CCTV. The Thucydides Trap refers to how tensions historically between a rising and ruling power have often resulted in a war. Graham Allison, the Harvard professor who popularized the concept, told CNBC’s “Squawk Box Asia” that he expects the trade truce Trump and Xi reached at their meeting in South Korea last fall will become a formal agreement. Xi also said that Taiwan was the most important issue for U.S.-China relations, and if not handled well it would push the bilateral relationship to a “dangerous” place, according to state media. Elsewhere, SK Hynix ( HXSCL ) surged on AI-driven optimism amid the US- China summit, nearing a $1T valuation and set to become only the second South Korean company after Samsung to enter the trillion-dollar club, with its stock up more than 200% this year. More on markets, etc. Kevin Warsh Gets Confirmed For Fed Chairman - Reactions For Dow Jones, Nasdaq And S&P 500 Making Sense Of The Market Rally Headline Inflation Cooled In April, But Core Pressures Picked Up Large caps pull ahead in AI productivity race - KKR Wells Fargo still sees two Fed rate cuts in 2026 despite recent hot inflation reports
Abu Dhabi’s L’imad Holding is joining local and global partners in an investment venture targeting $30 billion of infrastructure projects, underscoring the central role the new sovereign wealth fund is likely to play in the emirate’s ambitions. The fund, chaired by Abu Dhabi’s crown prince, will partner with BlackRock Inc . unit Global Infrastructure Partners , Singapore’s Temasek Holdings Pte . a...
Abu Dhabi’s L’imad Holding is joining local and global partners in an investment venture targeting $30 billion of infrastructure projects, underscoring the central role the new sovereign wealth fund is likely to play in the emirate’s ambitions. The fund, chaired by Abu Dhabi’s crown prince, will partner with BlackRock Inc . unit Global Infrastructure Partners , Singapore’s Temasek Holdings Pte . and Abu Dhabi National Oil Co. , according to a statement on Thursday. The venture will target opportunities across energy, transportation, logistics and waste management in the Gulf Cooperation Council and Central Asia. The partnership will seek a mix of equity and debt financing for the investment portfolio. “Infrastructure forms one of the key pillars of our investment strategy, especially in markets where demand is underpinned by structural trends,” L’imad Chief Executive Officer Jassem Al Zaabi said in the statement. The partnership is the latest sign that Middle Eastern investors are pushing ahead with dealmaking despite the tentative ceasefire between the US and Iran, after a conflict that saw the Islamic Republic strike energy and infrastructure assets across Arab nations. L’imad, which means “the pillar” in Arabic, made headlines last year after joining influential Gulf funds in backing Paramount Skydance Corp.’s hostile bid for Warner Bros. Discovery Inc. Abu Dhabi has also folded into it the owner of McLaren Automotive and its stake in Chinese electric-vehicle maker Nio Inc. The wealth fund is also expected to play a key role in the emirate’s push to boost investments in China, along with Mubadala Investment Co., Bloomberg News reported last month .
Rolling coverage of the latest economic and financial news, including the UK’s latest GDP report The Iran war, and the resulting jump in borrowing costs, is dampening the UK housing market. My colleague Tom Knowles reports: Fears of higher mortgage rates and rising inflation as a result of the Middle East conflict are leading to a subdued and downbeat housing market, according to estate agents. De...
Rolling coverage of the latest economic and financial news, including the UK’s latest GDP report The Iran war, and the resulting jump in borrowing costs, is dampening the UK housing market. My colleague Tom Knowles reports: Fears of higher mortgage rates and rising inflation as a result of the Middle East conflict are leading to a subdued and downbeat housing market, according to estate agents. Demand from potential homebuyers across England and Wales has shown a “noticeable softening” recently, according to a monthly survey of estate agents by the Royal Institution of Chartered Surveyors (RICS). Continue reading...
Taiwan Semiconductor Introduces the 'Three-Layer Cake' Theory for AI Chips: Optical Interconnects Deemed 'Most Important in the Future,' COUPE Technology May Take Center Stage Moomoo
Taiwan Semiconductor Introduces the 'Three-Layer Cake' Theory for AI Chips: Optical Interconnects Deemed 'Most Important in the Future,' COUPE Technology May Take Center Stage Moomoo