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Moynihan did not provide a time frame in his interview for doubling the bank's consumer market share. With deposits growing above the industry rate, a low risk loan portfolio and a strong balance sheet with billions in excess liquidity, the pieces were in place for the bank to continue taking market share, he told the FT....
Jan.19 -- Mo Ji, chief economist for Greater China at AllianceBernstein, talks about the Chinese economy and policies. China's five year loan prime rate was set at 4.8% versus 4.8% in December, according to the central bank. Ji speaks with Yvonne Man, David Ingles and Tom Mackenzie on "Bloomberg Markets: China Open."...
Two major oilfields in southwest Libya began shutting down on Sunday after forces loyal to Khalifa Haftar closed a pipeline, potentially reducing national output to a fraction of its normal level, the National Oil Corporation (NOC) said. The closure, which follows a blockade of major eastern oil ports, risked taking almost all the country's oil output offline as international leaders met in Berlin for a peace summit on Libya. If exports continue to be blocked, storage tanks will fill in a few days and production will be limited to 72,000 bpd from offshore fields and the western Wafa field, an NOC spokesperson said....
(Bloomberg Opinion) -- China’s most sprawling effort at revealing the universe’s deepest mysteries is a 1,640-foot-wide silver dish that settles comfortably between hills in a remote part of the country’s southwest. The Five-hundred-meter Aperture Spherical Telescope is more sensitive than any telescope on Earth. This month, the Chinese government announced that it had begun formal operations. FAST is expected to further human understanding of gravitational waves and cosmic rays, and — just possibly — detect extraterrestrial communications. But for the Chinese government, which spent $180 million on the massive instrument, the most important return on its investment will be the homecoming of Chinese scientists who have been living and researching abroad.According to a recent study in the journal Science and Public Policy, it’s been happening for a while. The number of Chinese scientists who departed the U.S. for China in 2017 was 69% higher than 2010 departures. The factors driving this...
(Bloomberg) -- The government of Tianjin is in early talks to sell stakes in two of its listed technology firms to Chinese consumer electronics giant TCL Corp., according to people familiar with the matter.The discussions involved holdings in chip devices maker Tianjin Zhonghuan Semiconductor Co., and Tianjin Printronics Circuit Corp., a printed circuit boards producer, the people said. Tianjin’s government and TCL are still exploring options including direct stake sales or having the electronics company acquire control in the major shareholder of the two listed firms, said the people, who asked not to be identified as the discussions are private.TCL has been shifting its focus to technology and hence has been studying the industry including the relevant companies, it said in an exchange filing on Sunday. The firm hasn’t reached any concrete agreement and will make an announcement on any progress, it said.Tianjin Printronics shares rose as much as 4.1% on...
(Bloomberg) -- Oil jumped as rising tension in the Middle East and North Africa halted output and exports from key OPEC producers Iraq and Libya.Futures in New York and London rose more than 1.5%. Iraq temporarily stopped output at an oil field on Sunday and supply from a second site is at risk as widespread unrest escalates in OPEC’s second-biggest producer. In Libya, National Oil Corp. declared force majeure after Commander Khalifa Haftar blocked exports at ports under his control.Oil has had a rocky start to the year as tension spiked between Washington and Tehran and initial optimism over the limited U.S.-China trade deal waned amid skepticism about China’s ability to meet targets. The International Energy Agency said last week that supplies from Iraq are “potentially vulnerable” due to rising political risks in the country and the broader region.The spike in oil prices is a rational response to the news on...
Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to be cut to a trickle. Brent crude futures were up by 70 cents, or 1.11%, to $65.55 by 0731 GMT, having earlier reached $66 a barrel, the highest since Jan. 9. The West Texas Intermediate contract was up by 56 cents, or 1%, at $59.10 a barrel, after rising to $59.73, the highest since Jan. 10....
