Finance

Original title: Teck Holds Up Growth Plans to Focus on Chile Copper Mine Teck Resources Ltd. is deferring major growth projects to focus on fixing issues that have held back output at its flagship Quebrada Blanca copper mine in Chile. The Canadian miner has launched a review of operations at the “QB” site, focused on improving drainage from the tailings facility, it said in a statement Bloomberg Terminal late on Tuesday. It also announced some personnel changes, including the retirement of Chief Operating Officer Shehzad Bharmal and the hiring of an unnamed industry veteran as advisor to top managers. ...

Original title: HSBC AM Joins Peers With Private Equity Fund Targeting Wealthy HSBC Holdings Plc ’s asset management arm is launching a private equity strategy targeting wealthy clients, the latest move by a major investment firm to boost its alternatives offerings for individuals. The fund will give investors exposure to secondary and co-investments from a range of general partners, HSBC AM said in a statement Wednesday. The minimum investment can be as little as $25,000 and varies by jurisdiction. It’s aimed at investors in the UK, Europe, Asia, and the Middle East. ...

Original title: ECB’s Next Move Could Be to Cut or Hike Rates, Dolenc Says European Central Bank interest rates are firmly on hold for now and the next step could be a cut or hike, according to Primoz Dolenc , acting governor of Slovenia’s central bank. With Europe’s economy resilient and inflation stabilizing near 2%, Dolenc said he doesn’t see “major shifts in any direction” to justify changing borrowing costs this month. ...

Original title: Global Funds Sell Record Amount of Vietnam Stocks After Rally Foreign investors are scaling back their positions after Vietnam’s record stock rally, pulling out an unprecedented amount of money from the market. Global funds sold a net $1.5 billion worth of local shares in August, the biggest monthly outflow in Bloomberg-compiled data going back to 2009. The benchmark VN Index was little changed on Wednesday after traders returned from a holiday. ...

Original title: Global Bond Selloff Is Extending With Longer Debt Leading Losses Global bonds are facing renewed selling pressure as jitters around inflation, debt sales and fiscal discipline erode sentiment toward what had previously been some of the world’s safest assets. Yields on Japan’s 20-year notes climbed to the highest since 1999 on Wednesday, while Australian 10-year bond yields rose to levels last seen in July. Treasury yields also rose, with those on benchmark 30-year debt approaching to within a whisker of the closely watched 5% level. ...

Original title: Guming CFO on Business Strategy, China Consumers 00:00 Seeing. This is a sector that is being shaped by price, war, subsidy wars and some of these new consumption trends. What are you seeing among the foods in the regions, their pricing competition? How is that impacting sales volumes for your franchisees? Yeah. So initially, I think it really started in April that the second half of April, but then it really went into full blown kind of war in June and then last into July and August. I think, you know, this is something that we cannot control and they’re fighting for market share. Of course, we don’t want to see all this kind of irrational price wars because it drives people into online channels. And some people just say they don’t really need this product, so they probably won’t be able to afford that. But because of this exceptionally low price or even free for them to to take that. So a lot of irrational demand, I think in the long run it may not stay so. And then in terms of if you look at it from the franchisees perspective, a ...

Original title: Japan’s Long Bonds Join Global Slide as Politics Adds to Jitters Japan’s longer-maturity debt slumped, sending yields to multi-decade highs, following a global selloff in bonds and political uncertainty in the nation. Yields on 20-year government bonds rose to levels last seen in 1999 while those on the 30-year maturity jumped to the highest since debut. The moves in Japan come after European and US bonds dropped, with the 30-year Treasury yield climbing back toward 5%. ...

Original title: Japan Joins Global Bond Slide, Asian Stocks Fall: Markets Wrap Japanese bonds joined a slump in global debt as a rush of corporate-debt sales Bloomberg Terminal and concerns over developed-world budgets dragged down European fixed-income securities and Treasuries. Super-long bonds led losses in Japan, with 30-year yields rising eight basis points to 3.28%, while the yen extended its declines amid political uncertainty in the country. US 30-year bond yields held close to 5% after a spike on Tuesday that weighed on tech shares on Wall Street. Australian bonds also retreated while Asian stocks followed the US lower. The dollar rose for a second day. ...

Original title: Treasuries Join Global Bond Selloff With 30-Year Yield Near 5% Treasuries dropped, following a slump in longer-maturity European debt, with the US 30-year yield climbing toward 5% at the start of a month historically tough for long bonds. Longer-maturity yields climbed about three basis points Tuesday, trading off their session highs after ISM manufacturing data showed weakness in overall activity, employment and prices paid. Treasuries came under pressure again Wednesday, with the 30-year yield edging up one basis point to 4.98%. ...

Original title: Tyson Names Cole COO, Signals Further Leadership Changes Tyson Foods Inc. has appointed the head of its poultry business as chief operating officer, with the US meat giant signaling more management changes associated with its succession planning. Devin Cole , who is group president of poultry, will take over as COO, overseeing Tyson Foods’ chicken, beef, pork and prepared food operations, the company said in a statement Bloomberg Terminal . Tyson Foods didn’t have a COO since Donnie King , the latest executive to hold the position, became chief executive officer in 2021. ...