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Morgan Stanley's Chief Executive Officer James Gorman is very encouraged by the performance of the U.S. economy. He points to falling unemployment, a recovery in house prices, stabilizing local and state government deficits and some signs of quickening inflation. And Gorman's upbeat on Asia. He plays down worries over China’s economy and says the focus shouldn’t be on the overall growth rate, but on the size of the $11 trillion economy. On the business front, the chief executive says his firm is seeing trading declines similar to its competitors. Gorman made the comments in an exclusive interview with Bloomberg Television in Beijing.— Brent O'Brien
China must rein in an increasingly reckless North Korea, Australian Prime Minister Malcolm Turnbull said in an exclusive interview with Bloomberg Television's Haidi Lun. Speaking ahead of his most-anticipated foreign policy speech since becoming prime minister in September 2015, Turnbull also urged China to respect the rule of law as its economic and military might grows.
Australian house prices fell in May for the first time in 17 months. It's an early sign lending restrictions are starting to damp demand. And interest in Sydney property may be set to drop further after the state government announced a doubling of the stamp duty on purchases made by overseas investors. It's all part of a package aimed at appeasing voter anger over sky-high housing costs.
Southeast Asia is the first stop on China's road to global tech domination. The region, which has twice the population of the U.S. and the largest Chinese diaspora in the world, is the primary target for ever-wealthier investors from the mainland who have already poured billions into everything from transport to real estate. Chinese investments in technology abroad more than doubled to $37.8 billion last year, and more deals are in the works.
Step aside, bitcoin. There’s another digital token in town that’s winning over the hearts and wallets of cryptocurrency enthusiasts across the globe. The value of ether, the digital currency linked to the ethereum blockchain, could surpass that of bitcoin by the end of 2018.
China's been assembling one of the essential engines of global power. Ship by ship, port by port, over the past two decades the nation has put together a modern navy capable of projecting force far from home. It will no doubt be on the minds of Australian Prime Minister Malcolm Turnbull, U.S. Defense Secretary James Mattis and others gathering in Singapore this weekend for Asia’s most high-profile security conference, the Shangri-La dialogue.
It's the elite $156,000 supercar no one is talking about. The 2017 Acura NSXs have been on the road for a year now, but chances are, you haven’t seen one. It suffers from a weak public image because of its association with the hordes of forgettable Acuras out there. That’s too bad, because it more than deserves to be considered in the same vaunted category as the Audi R8, the Mercedes AMG GT, and even the McLaren 570S.