Articles for Bloomberg News

Pan Brothers Closes In on $537 Million Debt Restructuring
6 days, 16 hours ago

Pan Brothers Closes In on $537 Million Debt Restructuring

Live Mint  

-- Distressed textile giant PT Pan Brothers is closing in on its debt restructuring after seven months of negotiation with creditors, according to people familiar with the matter, as it works to avoid becoming the second Indonesian clothesmaker to be declared bankrupt this year. The revised proposal came after Coordinating Minister of Economic Affairs Airlangga Hartarto summoned representatives of the …

Indonesia According Pan Indonesian Bloomberg News Lowy Hartarto
The MAGA "weave": Donald Trump picks up steam as he dissembles on stage
2 months, 1 week ago

The MAGA "weave": Donald Trump picks up steam as he dissembles on stage

Salon  

Is Donald Trump losing it for real this time? Top aide Stephen Miller called Trump's rambling "the greatest live interview any political leader or politician has done on the economy in our lifetimes." Fox News' Sean Hannity was similarly effusive in his praise for Trump's performance, claiming "Trump frankly masterfully navigated the situation." We need your help to stay independent …

Economy Trump Pennsylvania Economic Harris Biden Maga
Microsoft-Backed Rubrik Files for IPO: Revenue grows to $628 million, losses widen to $354 million
8 months, 3 weeks ago

Microsoft-Backed Rubrik Files for IPO: Revenue grows to $628 million, losses widen to $354 million

Live Mint  

Rubrik Inc., a cloud and data security startup backed by Microsoft Corp., filed for an initial public offering, disclosing growing revenue and losses. The offering is being led by Goldman Sachs Group Inc., Barclays Plc, Citigroup Inc. and Wells Fargo & Co., according to Monday’s filing with the US Securities and Exchange Commission, confirming a Bloomberg News report. The filing …

Microsoft Company According Million Filing Ipo Bloomberg News
Reddit signs content licensing deal with AI company ahead of launching IPO
10 months ago

Reddit signs content licensing deal with AI company ahead of launching IPO

Hindustan Times  

Reddit Inc. has signed a contract allowing a company to train its artificial intelligence models on the social media platform’s content, according to people familiar with the matter, as it nears the potential launch of its long-awaited initial public offering. Reddit’s agreement with an unnamed large AI company could be a model for future contracts of a similar nature, one …

Ai Ipo Bloomberg News Its Ipo Reddit Revenue Data Licensing
China’s central bank eyes reserve ratio cut to boost lending
11 months, 2 weeks ago

China’s central bank eyes reserve ratio cut to boost lending

Live Mint  

Chinese authorities have indicated a possible cut in the reserve ratio which is the amount of money banks must set aside as reserves to propel lending, a report said. In an interview with state-run Xinhua News Agency, Zou Lan, head of the People’s Bank of China’s monetary policy department said that the PBOC may use open market operations, medium-term lending …

China Bank Chinese Cut Reserve Ratio Bloomberg News
Tuberville refuses responsibility but says he’s blocking 300 military promotions because ‘we’re not a communist country’
1 year, 3 months ago

Tuberville refuses responsibility but says he’s blocking 300 military promotions because ‘we’re not a communist country’

Raw Story  

Senator Tommy Tuberville's list of blocked military promotions has now reached over 300, he's being rebuked by Democrats and Republicans alike, including GOP Senate Minority Leader Mitch McConnell, and now he's refusing to take responsibility for the blockade while insisting he's put the hold on hundreds of officers because "we're not a communist country." He told Bloomberg News each military …

Senate Two Hours Tuberville Bloomberg News 300 Military Blocking 300 Blocking 300 Military
9% dip in India index is due to incorrect security pricing, MSCI claims
1 year, 5 months ago

9% dip in India index is due to incorrect security pricing, MSCI claims

Live Mint  

Despite one per cent fall in Nifty 50 index and other key benchmark indices on Dalal Street, MSCI Indian index fell to the tune of 9 per cent during mid-session of Friday deals, that sparked attention of market observers and investors. However, the global index provider Morgan Stanley Capital International or MSCI claimed that the 9 per cent dip in …

9 Per Cent Msci Incorrect Bloomberg News Msci India Index India Index Incorrect Security Pricing
Revealed: DOJ and Director of National Intel. can't find Trump's 'standing order' to declassify docs
1 year, 5 months ago

Revealed: DOJ and Director of National Intel. can't find Trump's 'standing order' to declassify docs

Raw Story  

One of former President Donald Trump's claims about having classified documents at his country club in Florida and New Jersey was that he had a "standing order" to declassify whatever he wanted. In an Aug. 2022 appearance with Fox's Sean Hannity, Trump's lawyer read a statement claiming that the former president had such a "standing order" and that anything he …

Trump Order Bloomberg Standing Bloomberg News
Vedanta’s Anil Agarwal said to weigh stake sale as last-resort option
1 year, 9 months ago

Vedanta’s Anil Agarwal said to weigh stake sale as last-resort option

Live Mint  

Indian tycoon Anil Agarwal is studying options including selling a minority stake in Vedanta Ltd. as he looks to shrink his commodities business empire’s massive debt load, according to people familiar with the matter. Agarwal’s Vedanta Resources Ltd., which owns about 70% of Vedanta, has been in talks with at least three banks for a loan of as much as …

Billion Vedanta Agarwal Vedanta Resources Hindustan Zinc Bloomberg News Stake Sale
US staring at Lehman redux? Silicon Valley Bank’s swoon may be recession signal
1 year, 9 months ago

US staring at Lehman redux? Silicon Valley Bank’s swoon may be recession signal

Live Mint  

It was a bad day for the banking industry Thursday. The biggest loser in that index was SVB Financial Group, the parent of Silicon Valley Bank, which plunged 60%. Silicon Valley Bank’s parent surprised the market late Wednesday by saying it had sold about $21 billion of securities from its portfolio, which will result in an after-tax loss of $1.8 …

Bank Silicon Valley Billion Bloomberg Valley Silicon Bloomberg Opinion
Adani Group faced margin call on $1.1 billion loan before repaying in full
1 year, 10 months ago

Adani Group faced margin call on $1.1 billion loan before repaying in full

The Hindu  

Adani Group Chairman Gautam Adani faced a margin call of more than $500 million on a $1.1 billion share-backed loan, prompting him to repay the whole debt, the Financial Times reported, citing four people with direct knowledge of the matter. Adani Group also plans to prepay a $500 million loan due next month to a group of banks that includes …

Group Adani Bloomberg News Faced Margin
Apple delays release of AR glasses indefinitely, according to Bloomberg News
1 year, 11 months ago

Apple delays release of AR glasses indefinitely, according to Bloomberg News

India TV News  

According to Bloomberg News on Tuesday, Apple Inc. has decided to delay the release of its thin augmented reality glasses indefinitely owing to technical difficulties, but it still intends to introduce its first mixed reality headset this year. According to Bloomberg, the mixed-reality headset from the iPhone maker, which blends augmented and virtual reality, will debut at this year's spring …

Reality Apple Bloomberg Ar Bloomberg News Read Iphone Glasses Indefinitely
How a mysterious screenshot spurred a $450 billion rally
2 years, 1 month ago

How a mysterious screenshot spurred a $450 billion rally

Live Mint  

Nobody is quite sure who wrote it, when it was written or if it’s even true. It called Xi “big boss” and used “WHN” to refer to Wang in a bid to sidestep censors, who strictly manage messages and social media posts on China’s political elite. Less than 20 minutes later, prominent Hong Kong-based economist Hong Hao tweeted something similar …

China Chinese Covid Screenshot Bloomberg News
Facebook’s Meta to freeze hiring, further restructure: Report
2 years, 2 months ago

Facebook’s Meta to freeze hiring, further restructure: Report

Al Jazeera  

‘We want to plan somewhat conservatively,’ Meta Chief Executive Mark Zuckerberg’s communication with employees according to Bloomberg News. Facebook-parent Meta Platforms will freeze hiring and further restructure amid an uncertain macroeconomic situation, Bloomberg News has reported, quoting Chief Executive Mark Zuckerberg’s communication with employees. “I had hoped the economy would have more clearly stabilized by now, but from what we’re …

Report Meta Zuckerberg Bloomberg News
Latest Ukraine updates: Moscow resumes offensive on Mariupol
2 years, 9 months ago

Latest Ukraine updates: Moscow resumes offensive on Mariupol

Al Jazeera  

Ukraine-Russia news from March 5: Ceasefire fails in the key city, with allegations of violations by both Russia and Ukraine. “We ask all residents of Mariupol to return to their places of refuge.” 5 Mar 2022 - 11:56 GMT Russia accuses Ukrainian ‘nationalists’ of thwarting humanitarian corridors: RIA Russia’s defence ministry has said no one made use of two humanitarian …

Social Media Europe London Poland Singapore Italy Humanitarian
News agency loses landmark privacy case at UK Supreme Court
2 years, 10 months ago

News agency loses landmark privacy case at UK Supreme Court

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Supreme Court’s ruling that …

Law Supreme Court Privacy Court Public Supreme Britain
LIC IPO: Inside details of India's biggest public issue
2 years, 11 months ago

LIC IPO: Inside details of India's biggest public issue

India Today  

The preparation for the much-awaited initial public offering of Life Insurance Corporation of India is in full swing, with approximately 2 months left before the launch of India’s biggest public listing. Front-page newspaper Read | Unlocking LIC's Value DETAILS OF INDIA’S BIGGEST IPO Latest reports suggest that LIC will file its draft prospectus for its massive IPO with the regulator …

India Issue Public Value Pan Ipo Biggest
Taliban sidelined Mullah Baradar due to Pakistan, Haqqani Network's objection
3 years, 3 months ago

Taliban sidelined Mullah Baradar due to Pakistan, Haqqani Network's objection

Op India  

Days after the Taliban announced the names of cabinet members of the interim government in Afghanistan, it has now come to light that the acting Prime Minister Mullah Mohammad Hasan Akhund was chosen due to his close ties with the Pakistani ISI, reported Bloomberg. Given his public stature and supposed ‘moderate views’, it was initially speculated that Mullah Abdul Ghani …

Pakistan Cabinet Hasan Terrorist Isi Kabul Close Ties
What could an Evergrande debt default mean for China and beyond?
3 years, 3 months ago

What could an Evergrande debt default mean for China and beyond?

Al Jazeera  

The central question is whether China’s authorities plan to allow Evergrande’s creditors to suffer major losses or whether the country’s communist government, which prizes stability and control, plans to intervene in some way. The central question is whether Chinese authorities plan to allow Evergrande’s creditors to suffer major losses or whether the country’s communist government, which prizes stability and control, …

Property Company Chinese Group Vehicle Bloomberg News China Evergrande
More businesses join backlash against Trump after Capitol siege
3 years, 11 months ago

More businesses join backlash against Trump after Capitol siege

Al Jazeera  

Trump and his brand have grown so toxic in the wake of last week’s US Capitol siege that businesses, institutions and even cities are cutting ties to all things Trump. “In light of concerns about the ongoing potential for violence, we removed new content uploaded to Donald J Trump’s channel for violating our policies,” YouTube said in a statement. Facebook, …

Political Congress Trump Criminal Activity New York Electoral College Washington
How UAE tried to sabotage Qatar’s economy amid the GCC crisis
3 years, 11 months ago

How UAE tried to sabotage Qatar’s economy amid the GCC crisis

Al Jazeera  

Rapprochement in the Gulf crisis may finally be in sight, but the blockade has changed Qatar’s economy in many ways. A Bloomberg News report this week shed new light on Luxembourg-based Banque Havilland’s 2017 proposal to allegedly destabilise Qatar’s economy on behalf of one of its largest clients, Mohammed bin Zayed, the crown prince of Abu Dhabi and de facto …

Economy Financial Economic Iran New York Crisis Gulf
UAE’s MBZ was known as ‘the boss’ at Banque Havilland
4 years ago

UAE’s MBZ was known as ‘the boss’ at Banque Havilland

Al Jazeera  

Financier David Rowland, who used Britain’s Prince Andrew as an unofficial door opener, has another close relationship with a member of royalty. This one lives in the Middle East, and executives at Rowland’s Banque Havilland referred to him as “the Boss.” A trove of emails, documents and legal filings reviewed by Bloomberg News, as well as interviews with former insiders, …

London Rights Zimbabwe Bank Saudi Arabia Manchester City Britain
China authorities detain Bloomberg News Beijing staff member
4 years ago

China authorities detain Bloomberg News Beijing staff member

Al Jazeera  

Chinese authorities have detained Haze Fan, who works for the Bloomberg News bureau in Beijing, on suspicion of endangering national security. Bloomberg LP, the parent of Bloomberg News, on Thursday received confirmation that Fan is being held on suspicion of participating in activities endangering national security. Fan, a Chinese citizen, began working for Bloomberg in 2017 and was previously with …

National Security Chinese Beijing Bloomberg Fan Chinese Authorities Bloomberg News