Goodbye ‘V,’ Hello ‘W,’ Fed Warning, Labor Destruction: Eco Day
(Bloomberg) -- Welcome to Wednesday, Asia. Here's the latest news and analysis from Bloomberg Economics to help you start the day:
- Three months ago, there was hope Covid-19 could be contained. Now, the pandemic appears all-consuming, writes Tom Orlik
- Fed Chair Jerome Powell stressed to Congress that getting the coronavirus under control was vital as the U.S. economy rebounds from the sharpest contraction on record. Meantime, two presidents said the Fed is committed to fighting racism as an economic issue
- The damage inflicted on the global labor market by the coronavirus is proving worse than initially estimated and will be impossible to repair in the second half of 2020, the ILO says
- The central banks of Australia and New Zealand responded quickly and decisively to the coronavirus pandemic with aggressive bond-buying programs. But there was one key distinction
- Indonesia's central bank is close to agreeing to fund $40 billion of the government's pandemic response, the largest debt monetization program among emerging markets. It is also pressing ahead with plans to build a new capital with the aim of reviving the economy
- Tourism holds the key to post-virus growth in New Zealand, writes James McIntyre
- Boris Johnson set out his vision for dragging the British economy out of what may be its deepest recession in 300 years: build, build, build
- The ECB may not need to use the full size of its recently expanded pandemic purchase program, according to Executive Board member Isabel Schnabel
- Canada's economy is crawling out of its deepest hole since the Great Depression, but the path will be long
- The U.S. Treasury Department paid out more than $100 billion in unemployment benefits in June
- Everybody loves to hate Modern Monetary Theory, writes Peter Coy
- Almost 90% of Americans say they are dissatisfied with the state of the country, and their unhappiness is affecting their political decisions four months before the presidential election
©2020 Bloomberg L.P.
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Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
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Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
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Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
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Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
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AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
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Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
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The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
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Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
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Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
