Finance

Original title: Dubai Top Destination for Executive Nomads: Savills 00:00 Let me just start off by asking you, what exactly is the nomad index? So, yeah, that’s a very good question. This is a index that we use to track executive nomads. Executive nomads are effectively digitally enabled entrepreneurs, business founders, senior managers. There are different class to the digital nomad, which is what many people might normally think of, which might be, you know, a general backpacker who travels around. Executive nomads are much more focused on where their families want to be, where they want to stay. And that’s something we’ve seen a lot more in this region recently. And what are the types of things that these professionals are looking for? What are the criteria that they look for when they’re choosing these hubs? So, look, these professionals are looking to actually live in one location but operate businesses in others. So Internet connectivity is, of course, key air connectivity, you know, the ease of access. Emirates and Etihad and other places. Quali ...

Original title: Euro-Zone Inflation Quickens Beyond 2%, Backing ECB Rate Pause Euro-area inflation accelerated beyond the European Central Bank ’s target, cementing expectations that officials will keep interest rates steady when they meet next week. Consumer prices rose 2.1% from a year ago in August, edging up from 2% the previous month and meeting the estimates of economists in a Bloomberg poll. A core measure that strips out volatile components like energy and food held at 2.3%. Closely watched gains in services prices eased to 3.1%. ...

Original title: EU Seeks to Close Off Russian Gas Flow Loopholes 00:00 Now European Union countries are also looking to plug any remaining loopholes to ensure that Russian gas will not be mixed into the bloc supplies. Once a ban takes effect by the end of 2027. Now, the change would require importers to provide evidence to prove that the gas has not been produced in Russia. Our very own Oliver Crook is in Berlin Good morning. So the EU is looking to fight back against Russia more generally by closing loopholes for Russian gas flows. Is that really possible? Yeah, and we know how difficult that’s been. For instance, even on LNG, the LNG tankers, the Russian shadow fleet and crude oil and getting them basically off the high seas. It’s been something that’s been very challenging for the Europeans to do. What they’re trying to do now is to exert the control where they believe that they can, and that is through the pipelines and still flow natural gas into the European Union, namely Turkstream, which is the the large pipeline that goes through Turkey and ...

Original title: Nestlé Turns to Younger Insider After CEO’s Ouster Over Affair Nestlé SA is turning to the executive who runs its Nespresso coffee empire to try and steady the world’s largest food business after it was rocked by the second CEO firing in a little over a year. Philipp Navratil is taking over as chief executive officer at the Swiss company, after the exit of Mark Schneider for underperformance last year and Laurent Freixe on Monday for failing to disclose an affair with a direct subordinate. ...

Original title: Morgan Stanley’s Wilson Says US Stock Rally Has Further to Run US stocks will continue rallying after four months of gains as Federal Reserve interest rate cuts coincide with robust corporate earnings, according to Morgan Stanley’s Michael Wilson . The strategist, who correctly predicted a rebound from April’s selloff, said the economy was heading into an “early cycle backdrop,” where nominal earnings continue to pick up alongside a drop in borrowing costs. Moreover, rate-sensitive stocks such as small caps have underperformed this year, suggesting room for catch up, he added. ...

Original title: 30-Year Gilt Yields Climb to Highest Level Since 1998 00:00 I think the situation in the UK is quite dangerous at the moment because of the return of the bond vigilantes. I would say what is striking is the fact that it took so long to factor in this return of inflation into the Guild. Now the situation is indeed that I think forward guidance on the fiscal side will be needed. I think that I hope that the Bank of England will also make sure that they communicate well the policies that is the long past that is about to come. But to be fair, I think it needs a bit more than this. So what I am looking for right now is a way to reassure the markets of the fact that the situation, especially on the headroom on the fiscal side, the so-called 10 billion of missed fiscal space, is something that can be circumvented. So I hope that Rachel Reeves actually communicates a message on this. And if you got that message, Ludovic, from from the Chancellor come that October budget. What would this level look attractive to you? 5.6% or above 5.6%. Does that ...

Original title: UK 30-Year Bond Yields Climb to Highest Level Since 1998 The yield on long-dated UK bonds rose to the highest since 1998, putting pressure on Prime Minister Keir Starmer ’s government to regain the confidence of investors who remain concerned over the fiscal outlook. The rate on 30-year gilts rose five basis points to 5.69% on Tuesday amid a global decline in government bonds. The pound also tumbled in London trading, falling 1.1% to $1.3395. ...

Original title: Goldman’s Mechain Says France M&A to Pick Up Despite Turmoil Goldman Sachs Group Inc Paris Co-Head Celine-Marie Mechain expects deal activity in France to accelerate despite the country’s current political turmoil. “France remains an attractive investment area for a variety of reasons despite the political turmoil,” Mechain said Tuesday in a Bloomberg TV interview. “We see a pick-up in activity in the M&A market” in the second half of the year. ...

Original title: Russian Oil Gets Cheaper for India as US Amps Up Criticism 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: Swaps Pioneered by Credit Suisse Get Recast in Age of War Debt swaps pioneered by Credit Suisse to fund nature conservation are enjoying a second life, as bankers see an opportunity to apply the model to everything from post-war reconstruction to energy security. The swaps help governments refinance debt at more favorable terms and put any savings toward a pre-determined policy goal. After a drought in dealmaking since late last year, as many as four new swaps may be completed by the end of 2025, according to Jake Harper , senior investment manager, private credit at Legal & General Group Plc. But none of them has a nature-focused goal, he says. ...