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Anna Wong: Empty Shelves Are Coming Soon

9 hours ago | bloomberg.com | Carmen Rodriguez |Tracy Alloway |Joe Weisenthal

Listen to Odd Lots on Apple PodcastsListen to Odd Lots on SpotifySubscribe to the newsletterIf you look at most of the official hard data right now, there still isn't much evidence of a sharp downturn. Sure, all the surveys are abysmal, but the actual measures of economic activity are doing fine. But there is already data showing something severe is happening, and that can be seen in the volume of cargo flowing from China to the US. Of course, this is intentional. This is the whole point of tariffs.
Healthscope Lenders Eye Secondary Sales as Lock-Up Nears Expiry

12 hours ago | bloomberg.com | Sharon Klyne |Megawati Wijaya

(Bloomberg) -- Banks holding part of hospital operator Healthscope Ltd.’s A$1.6 billion ($1 billion) loan are sounding out traders for potential secondary sales in anticipation of the end of a lock-up period, according to people familiar with the matter. Lenders holding around A$1.3 billion of the deal have been unable to sell the loan since early March, after they signed an agreement with the cash-strapped company that gave it more time to make an interest payment, the people said.
Chinese Banks, HSBC and Standard Chartered Outlook to be Shadowed by US Tariffs

15 hours ago | bloomberg.com | Rachel Yeo |Justina Lee |Harshita Swaminathan |Reina Sasaki

China may need more stimulus measures including rate cuts as the economy faces tariff risks, which could dim margin outlook for these banks. Photographer: Qilai Shen/Bloomberg(Bloomberg) -- Chinese lenders including Industrial & Commercial Bank of China Ltd., China Construction Bank Corp., Agricultural Bank of China Ltd. and Bank of China Ltd. will report earnings as the US-China trade war threatens to erode their margins.
Kuwait Weighs Plan for Additional $4 Billion Investment in Egypt

1 day ago | bloomberg.com | Fiona MacDonald |Mirette Magdy

Residential and commercial buildings in Cairo, Egypt. (Bloomberg) -- Kuwait is in advanced discussions to convert $4 billion of deposits held in Egypt’s central bank into investments in the country, another boost for the Middle East’s most populous nation as it rebounds from the worst economic crisis in decades.
Fed’s Waller Says He’d Support Rate Cuts If Tariffs Drive Job Losses

1 day ago | bloomberg.com | Amara Omeokwe

Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, March 22, 2024. A trio of central bank decisions this week sent a clear message to markets that officials are preparing to loosen monetary policy, reigniting investor appetite for risk.
US Existing-Home Sales Fall by Most Since 2022 on Rates, Prices

1 day ago | bloomberg.com | Augusta Saraiva

Homes in Perth Amboy, New Jersey. (Bloomberg) -- Sales of previously owned US homes fell in March by the most since 2022 as buyers remained constrained by high mortgage rates and prices. Contract closings decreased 5.9% last month to an annualized rate of 4.02 million, the weakest March since 2009, according to National Association of Realtors figures released Thursday. That was below most estimates in a Bloomberg survey of economists.
Axis Bank to Raise $6.4 Billion Through Debt and Equity

1 day ago | bloomberg.com | Advait Palepu

An AXIS Bank branch in Mumbai, India. (Bloomberg) -- Axis Bank Ltd plans to raise 200 billion rupees ($2.3 billion) through a share sale as part of a bigger capital raise that includes debt. The Mumbai-based bank plans to raise 350 billion rupees ($4.1 billion) through local rupee bonds or foreign currency bonds, Additional Tier-1 bonds, infrastructure bonds and other debt, the bank said in an exchange filing Thursday.
Morgan Stanley to Sell Final $1.23 Billion of X Buyout Debt

1 day ago | bloomberg.com | Aaron Weinman |Jeannine Amodeo

The Morgan Stanley headquarters in New York. (Bloomberg) -- Morgan Stanley launched a pivotal sale of the last bit of debt tied to Elon Musk’s buyout of social-media platform X Holdings Corp. on Thursday, according to a person familiar with the matter, taking advantage of a brief reprieve from tariff-related volatility.
South Africa’s Central Bank Head Says Lower Oil Price Easing CPI

1 day ago | bloomberg.com | Ntando Thukwana

Lesetja Kganyago(Bloomberg) -- South Africa’s central bank Governor Lesetja Kganyago said that lower oil prices have helped drive inflation in the country to a multiyear low and would probably continue to do so. “We still think that the next print might still have a 2-handle to it, but the environment is uncertain,” Kganyago told Bloomberg Television Thursday in Washington, on the sidelines of the International Monetary Fund and World Bank Spring Meetings.
Pride Groups Scramble to Fundraise as Corporate Sponsors Lag

1 day ago | bloomberg.com | Linda Poon |Kelsey Butler |Lily Meier

The DC Pride Parade in 2024. This year, the city will host World Pride amidst anti-DEI sentiment from the capital’s federal lawmakers. (Bloomberg) -- With Pride festivals and parades fast approaching, organizers in major US cities are scrambling to make up hundreds of thousands of dollars in lost corporate sponsorships. Many are tapping smaller businesses and local communities to ensure their signature annual events proceed as planned.