Finance

Original title: Equinor Backs Orsted Share Sale Despite Trump Targeting Wind Equinor ASA will spend almost $1 billion backing Orsted A/S’s share sale, in a crucial show of support as the Danish firm seeks to steady its finances following the Trump’s administration’s attacks on offshore wind. The Norwegian energy company plans to maintain its 10% stake in Orsted by subscribing for as much as 6 billion Danish kroner ($940 million) of new shares in the Danish wind developer. Backing from Equinor — Orsted’s second-biggest shareholder — is seen as crucial to getting wider support from investors for the proposed 60 billion-krone ($9.4 billion) capital raise. ...

Original title: India’s Surprise GDP Flattered by Data Calculation, Analysts Say Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here. Original article

Original title: Saudi Quick Delivery Startup Ninja Said to Seek Banks for IPO Saudi Arabia-based quick delivery firm Ninja is looking to hire investment banks to advise on a potential initial public offering that could take place as early as next year, according to people familiar with the matter. Ninja has requested proposals from prospective underwriters and financial advisers for the deal, the people said, requesting anonymity to discuss private information. ...

Original title: Stocks Bounce Back as Testing Month Gets Underway: Markets Wrap Stocks staged a modest rebound from a technology-led selloff, setting a steadier tone at the outset of a month that could bring plenty of tests to markets trading near record highs. Europe’s Stoxx 600 advanced 0.2%. BAE Systems Plc and Rheinmetall AG led gains in defense shares after the Financial Times reported that Europe is working on detailed plans for potential post-conflict deployments in Ukraine. A regional gauge for tech stocks held steady. ...

Original title: Copper Edges Up Toward $10,000 as Demand Drives Month of Gains Copper inched up toward its key threshold of $10,000 a ton, after advancing last month on a weaker dollar and relatively resilient demand. The metal gained 3% in August, and rose as much as 0.5% on Monday on the London Metal Exchange. A softer dollar tends to benefit commodities priced in the greenback by making them cheaper for non-US buyers. ...

Original title: Are Bets on Fed Rate Cuts Overdone? 00:00 Is that too much complacency out there, do you think? I certainly think that is the case. I mean, looking at hedge funds, kind of betting on shorting the VIX, the most we’ve seen in three years really does suggest that they expect this comp to persist. I think we expect greater volatility if we do see some of this economic data materially surprise to the upside of the downside, just given that equities have really been predicated on the Fed easing coming through quite materially. We have about five rate cuts priced in by the July meeting and this is occurring against a backdrop where the inflation uncertainty still remains kind of unknown. Because if we think about, you know, yes, we’re starting to see goods inflation that’s expected to grind higher over the coming months. But last month, the super core inflation measure is actually what surprised to the upside if we start to see signs of services, inflation accelerating or wages accelerating, I think that could put, you know, so ...

Original title: Goldman, JPMorgan Say Europe Stocks Are Attractive Into Year End Some of Wall Street’s top strategists say European stocks are likely to gain in the coming months, as a strong economic outlook helps shares break out of a narrow trading range. Market forecasters at Goldman Sachs Group Inc. expect the Stoxx Europe 600 Index to rise 2% to around 560 points by the end of 2025, boosted by improving growth prospects, low positioning and relatively cheaper valuations. ...

Original title: ‘Nikko’ Cut From New Name of $260 Billion Japan Fund Manager Nikko Asset Management Co. is changing its name to Amova Asset Management Co., removing “Nikko” for the first time since it was founded in 1959 in a sign the company is willing to leave familiar ground to expand globally. The new name of the Sumitomo Mitsui Trust Group unit mashes together the words “asset management,” “move” and “nova,” Latin for “new”. The company operated in 13 countries and regions at the end of June and oversaw $260.3 billion in assets. ...

Original title: ‘Nikko’ Cut From New Name of $260 Billion Japanese Asset Manager Nikko Asset Management Co. is changing its name to Amova Asset Management Co., removing “Nikko” for the first time since it was founded in 1959 in a sign the company is willing to leave familiar ground to expand globally. The new name of the Sumitomo Mitsui Trust Group unit mashes together the words “asset management,” “move” and “nova,” Latin for “new”. The company oversees $260.3 billion in assets. ...

Original title: Odd Lots: Dan Wang on China’s Breakneck Tech Growth (Podcast) Odd Lots: Dan Wang on China’s Breakneck Tech Growth Odd Lots Dan Wang on China’s Breakneck Tech Growth Arrow Right 49:58 In the past couple of years, the world has fully awoken to the incredible economic and technological growth exhibited by China. But what lessons are there for America? Are there even lessons for America? Dan Wang, research fellow at Stanford University’s Hoover History Lab, has probably been one of the foremost commentators and observers on China’s rise, having taken seriously their efforts to push the technological frontiers for years now. Now, he’s out with a new book BREAKNECK: China’s Quest to Engineer the Future. On this episode, we talk about what he’s seen in the country, whether China is legitimately on the road to socialism, and how perceptions of the country have changed since he started doing his research. ...