Reuters/Pawel Kopczynski
One of the world's biggest hedge funds is backing the Bank of England. Analysts from Bridgewater Associates - which manages around $150 billion of assets globally - said in a note sent on Friday the actions of governor Mark Carney and the rest of the Monetary Policy Committee on Thursday were "appropriately aggressive" in trying to tackle the coming storm facing the British economy.
One of the biggest warning signs of the Great Recession is starting to show its head again. The Libor, or London Interbank Offered Rate , measures the interest rate at which banks lend to each other at different durations, and its sharp jump was a harbinger of the financial crisis. In the past month, the Libor rate has spiked to rates not seen since the first quarter of 2009, the heart of the banking meltdown.
Airbnb is raising massive new round of funding that values the company at $30 billion. That makes it the second-most-valuable US tech startup after Uber, which investors have valued around $68 billion. Bloomberg reports that Airbnb is raising an $850 million round, bringing its total to $3.2 billion. Investors in the round have not been revealed.
Chinese trade data for July was a disappointment. According to China's General Administration of Customs, exports fell by 4.4% in US dollar terms compared to the levels of a year earlier. Although an improvement on the 4.8% decline registered in June, the figure missed the median market forecast for a drop of 3%.
After months of selling, FX traders now like the look of the US dollar. According to the latest Commitment of Traders (COT) report released by the US Commodity Futures Trading Commission (CFTC), net US dollar long positions rose to $US16.3 billion last week, up $US2.9 billion on the levels of a week earlier.
Chinese demand for iron ore is higher than ever. China's insatiable demand for raw materials showed no signs of ebbing in July, particularly when it came to iron ore and crude oil. According to imports data released by the nation's General Administration of Customs, iron ore demand rebounded strongly in July, jumping 8.3% to 88.4 million tonnes.
It looks like Walmart will be the new owner of the e-commerce site Jet.com. Walmart and Jet.com have agreed to a deal worth "around $3 billion" and will make it official Monday, Recode's Jason Del Rey reported Sunday afternoon, citing anonymous sources.
Conference calling software startup LoopUp is set for an IPO. The listing - believed to be worth around £9 million, valuing LoopUp at £40-45 million - will be one of the first initial public offerings in London since the
The UK has opened a corruption probe into Airbus jet sales. Britain's Serious Fraud Office has launched a formal investigation into suspected fraud, bribery and corruption in connection with commercial plane sales by Airbus, parent company Airbus Group said on Sunday.
Amazon Japan has reportedly been raided on suspicion of antitrust practices. Japan's Fair Trade Commission has raided the office of Amazon Japan on suspicion of pressuring retailers to offer products on more favorable conditions than on rival sites, the Nikkei business daily reported on Monday.