(Bloomberg) — Australia’s biggest banks plan to return more than A$5 billion ($3.3 billion) to shareholders just as fierce rivalry in the mortgage market shows few signs of easing. Most Read from Bloomberg A “savage” war for mortgages and new customers has “competed away all the interest rate hikes” that the banks could have kept,
(Bloomberg) — Former Treasury Secretary Steven Mnuchin said a strong dollar is an advantage in helping the US to finance large fiscal deficits for now, but called on the winner of November’s presidential election to lead a new initiative to rein in the federal debt burden. Most Read from Bloomberg “I think it is a
(Bloomberg) — Amazon.com Inc. plans to spend $9 billion expanding its cloud computing infrastructure in Singapore, the latest global tech company to boost investment in Southeast Asia. Most Read from Bloomberg The outlay, to be done over the next four years, doubles Amazon Web Services’ investment in Singapore and helps it meet growing customer demand
(Bloomberg) — It’s an oft-told anecdote littering social media: Those who invested early in cryptocurrencies have enjoyed life-changing wealth. Most Read from Bloomberg How much that extra cash gives them confidence to spend more — a phenomenon economists call the wealth effect — is a hot topic whenever crypto prices are surging. A group of
(Bloomberg) — US spot-Bitcoin exchange-traded funds suffered their largest daily outflow as the digital token heads for its worst week since August 2023. Most Read from Bloomberg Investors pulled a net $564 million from the batch of almost a dozen funds on Wednesday, the biggest drawdown since the products debuted in January. The prospect of
(Bloomberg) — China’s home sales slump dragged on in March, signaling a much-hoped turnaround for the sector isn’t in sight yet. Most Read from Bloomberg The value of new home sales from the 100 biggest real estate companies slid about 46% from a year earlier to 358 billion yuan ($49.6 billion), following a 60% decline
(Bloomberg) — For Asia investors concerned about artificial intelligence stocks looking overheated, one top fund manager suggests a surprising reason to keep buying them: dividends. Most Read from Bloomberg “Tech companies we own in Asia all have a net cash balance sheet, they all pay a dividend today, and we expect them all to increase