Apple's iPhone 13 production fell 20% in Sept-Oct: Nikkei

TOKYO (BLOOMBERG) – Production of Apple’s flagship iPhone 13 smartphones fell 20 per cent short of previous plans in September and October, Nikkei reported on Wednesday (Dec 8), citing sources familiar with the matter. The holiday quarter is one of

Omicron poses risks to global economic growth, inflation: Rating agencies

LONDON (REUTERS, BLOOMBERG) – The Omicron Covid-19 variant could hurt global growth prospects while also pushing prices higher, rating agencies Fitch Ratings and Moody’s Investors Service said, after the World Health Organization said the variant carried a very high risk

China central bank adviser warns about 'quasi-stagflation' risk

BEIJING (BLOOMBERG) – China’s economy could enter a period of “quasi-stagflation” with relatively slow growth and excessively high producer-price inflation, said Liu Shijin, an adviser to the nation’s central bank. Such a scenario is “very likely” if demand remains weak,

The $6.8 billion hoard of metal the world covets but can't have

LONDON/HANOI (BLOOMBERG) – On an industrial park about an hour’s drive toward the South China Sea coast from Ho Chi Minh City sit giant mounds of raw metal shrouded in black tarpaulin. Stretching a kilometre in length, the much-coveted hoard

Biden's overture to Asian oil consumers serves warning to Opec+

WASHINGTON (REUTERS) – The Biden administration’s push for a coordinated release of oil stockpiles serves as a warning to the Opec+ production group that it should pump more oil to address concerns of high fuel prices in powerhouse economies like

Singapore central bank chief hopes Hong Kong, China will open up

SINGAPORE (BLOOMBERG) – Singapore’s central bank chief would like Hong Kong and China to open up quicker and more decisively over the next year as their strict border restrictions may impact business ties between the key Asian financial hubs. “I