Photographer: Xaume Olleros/Bloomberg
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Emerging economies face a long-standing risk: At the first sign of trouble, investors — and their money — head for the exits, with serious consequences for currencies, financial markets and growth. Therefore China, whose capital outflows reached a total of $1.7 trillion for 2015-16, has justifiably troubled investors. But the world's second-largest economy is different, and there's reason for optimism in the face of those concerns.
A dispute between the children of late Singaporean leader Lee Kuan Yew has damaged the country’s reputation and if it continues could dent public confidence in the government, according to his son, Prime Minister Lee Hsien Loong. He acknowledged the dispute with his siblings was unlikely to ever be fully resolved.
Hong Kong must crack the Enigma code. Thrill-seekers in the city who want to gamble in casinos usually have to take a bumpy, hour-long ferry ride to Macau. Those who crave excitement without leaving might do just as well punting on Hong Kong's small-cap stocks, writes Shuli Ren, who takes an in-depth look at one of the casualties.
North Korea’s nuclear ambitions dominated Donald Trump's phone calls with the leaders of Japan and China. The conversations came against the backdrop of a freshly strident tone from the Trump administration about China’s need to rein in Pyongyang, and after the U.S. navy conducted another "freedom of navigation operation” in the South China Sea.
Goldman Sachs reviews its commodities business after the worst start in a decade. While the bank flagged the poor results for the first quarter — without giving specific numbers — the weakness has continued and the unit’s start to the year has been the worst in more than 10 years, according to a person with knowledge of the matter.
Getting around the Great Firewall just got tougher after a popular virtual private network was forced to cease operating on orders from the Chinese government. GreenVPN sent a notice to customers that it would stop service from July 1 after "receiving a notice from regulatory departments."
The Australian dollar is making things complicated for the central bank. Officials at the Reserve Bank of Australia had cheered, for almost half a decade, for the U.S. to begin raising interest rates in the belief it would exert downward pressure on the nation's currency. Yet, when the RBA's board meets on Tuesday, they will find three Fed rate hikes in six months have sent the currency up almost 7 percent.
Pink Floyd's Nick Mason races his $40 million classic Ferrari. Mason made his first fortune playing drums for Pink Floyd. His second came from racing old cars, specifically, old Ferraris that today are among the most expensive cars on the planet. Mason took Bloomberg Pursuits around the Goodwood Festival of Speed and showed off the performance of his Ferrari 250 GTO.