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REUTERS/Agustin Marcarian/Illustration/File PhotoNEW YORK, Aug 15 (Reuters) - Investors in Argentina's financial markets, where bonds and the peso slid on Monday after central bank moves following a surprise primary election result, said the vote had a silver lining: it would likely hasten long-called-for economic reforms. The result initially introduced uncertainty into asset pricing, with traders selling stocks and dollar bonds - but prices later stabilized and the local stock market closed over 3% higher. Investors said this would outweigh any worries about Milei, despite some of his heterodox pledges, including to axe the central bank and dollarize the economy. Milei faces a significant challenge still to turn the primary election win into a successful run to the presidency. The central bank also increased the benchmark interest rate to 118% from 97%.

Persons: Agustin Marcarian, Javier Milei, Patricia Bullrich, Milei, Kimberley Sperrfechter, Sergio Massa, Cristina Fernandez de Kirchner, Milei's, Walter Stoeppelwerth, Shamaila Khan, Rowe Price, Samy Muaddi, Rodrigo Campos, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, REUTERS, Economics, Kimberley, Peronist, Investors, Gletir SA, Emerging Markets, Asia Pacific, UBS Asset Management, Jorgelina, Thomson Locations: Argentina, Argentine, MERV, Rosario

☆ Oil steadies as China data sours sentiment
▼ + stars: | 2023-08-15 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

A VLCC oil tanker is seen at a crude oil terminal in Ningbo Zhoushan port, Zhejiang province, China May 16, 2017. REUTERS/Stringer /File PhotoCompanies Country Garden Holdings Co Ltd FollowLONDON, Aug 15 (Reuters) - Oil prices stabilised on Tuesday as sluggish Chinese economic figures were countered by Beijing unexpectedly cutting key policy rates for the second time in three months. China's industrial output and retail sales data on Tuesday showed the economy slowed further last month, intensifying pressure on already faltering growth and prompting authorities to cut key policy rates to shore up activity. In an effort to shore up support, the People's Bank of China (PBOC) lowered the rate on 401 billion yuan ($55.3 billion) in one-year medium-term lending facility (MLF) loans to some financial institutions by 15 basis points to 2.5%. Still, sentiment on China is souring, added PVM's Evans.

Persons: Stringer, galvanise, John Evans, Robert Carnell, refiners, PVM's Evans, Natalie Grover, Muyu Xu, Katya Golubkova, Tom Hogue, Jason Neely Organizations: REUTERS, Garden Holdings, Brent, . West Texas, of, Petroleum, People's Bank of China, ING Bank, Thomson Locations: Ningbo Zhoushan, Zhejiang province, China, Beijing, Saudi Arabia, Russia, OPEC, Asia Pacific

☆ Employees in Asia are spending the most time looking busy at work, says Slack report
▼ + stars: | 2023-08-14 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +3 min

Workers in Asia are spending the most time on "performative work" — in other words, focusing on appearing busy more than doing real, productive work. Japan (63%), Singapore (63%) and India (57%) were ranked lowest for percentage of time spent on productive or "real work," Slack said. According to Laney, employees' focus on appearing busy is "likely influenced" by the way leaders are measuring productivity. For example, 44% of Singapore employees — the highest globally — say their productivity has been affected by spending "too much time" in meetings and emails. "There is an opportunity for companies to explore new and different ways of working, such as … adopting asynchronous ways of working rather than meetings, to facilitate more effective collaboration at work," Laney said.

Persons: Derek Laney, Slack, Laney, they're Organizations: Asia Pacific . Workers, Salesforce, Global, U.S, Derek Laney Technology, Employees Locations: Asia, India, Japan, Singapore, France, Kingdom, Australia, Germany, States, Korea, South Korea

☆ China's real estate market roiled by default fears again
▼ + stars: | 2023-08-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Qilai Shen | Bloomberg | Getty ImagesBEIJING — Two years after Evergrande's debt troubles, worries about China's real estate sector are coming to the forefront again. In late July, its top leaders indicated a shift toward greater support for the real estate sector, paving the way for local governments to implement specific policies. For the last several years, Chinese authorities have attempted to curb debt-fueled speculation in the country's massive — and hot — real estate market. Real estate and related industries have accounted for about a quarter of China's economy. He pointed out that since China started its deleveraging campaign in 2016, it is very unlikely the state would step in to bail out real estate developers.

Persons: Qilai Shen, Dalian Wanda, Liu Haibo, Sandra Chow, Nomura, Chow, Evergrande, Redmond Wong, —, Wong, Vanke, that's Organizations: Country Garden Holdings Co, Bloomberg, Getty, BEIJING, Reuters, CNBC, Country, Asia Pacific Research, CreditSights, Fitch, Saxo Markets Hong, China's, House Research, Stock, Poly Development, Research Locations: Baoding, Hebei province, China, Dalian, Hong Kong, Beijing, Saxo Markets Hong Kong

☆ Asian shares weaken slightly on China deflation risk, bank jitters
▼ + stars: | 2023-08-09 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

In Asia, the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged 0.2% higher, following a 1.2% tumble a day earlier. Producer prices fell for a 10th consecutive month. "It is not likely to see China entering a full deflation path as core CPI is still resilient and driven by services." "Having said that, if we do not see further improvement in consumer sentiment, it is possible to see growing deflation risks in China." Brent crude futures eased 0.2% to $86.00 per barrel and U.S. West Texas Intermediate crude futures also fell 0.2% to $82.73.

Persons: Issei Kato, Gary Ng, HSI, Chetan Ahya, Morgan Stanley, Dow, Stella Qiu, Ellen Zhang, Jamie Freed, Edmund Klamann, Simon Cameron, Moore Organizations: REUTERS, Nasdaq, Japan's Nikkei, PPI, Asia Pacific, Reuters, Wall, U.S, Brent, . West Texas, Thomson Locations: Tokyo, Japan, China, SYDNEY, Italy, Asia, Pacific, Hong Kong, Brazil, Beijing

☆ Reaction to China inflation data
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +5 min

Below are comments from analysts on the inflation data:XING ZHAOPENG, SENIOR CHINA STRATEGIST, ANZ, SHANGHAI"Both CPI and PPI in year-on-year terms fell into negative territory and confirmed economic deflation. "With destocking and credit expansion, we expect PPI and CPI will rebound from the bottom in the fourth quarter. The CPI deflation may put more pressure on the government to consider additional fiscal stimulus to mitigate the challenge." XIA CHUN, CHIEF ECONOMIST, YINTECH INVESTMENT HOLDINGS, HONG KONG"The lower inflation data reflects weak demand on the mainland, which is biggest challenge facing China's economy. It also shows China's slower-than-expected economic rebound is not strong enough to offer the weaker global demand and lift commodity prices."

Persons: XING ZHAOPENG, CHUAN, FRANCES CHEUNG, Rather, ZHIWEI ZHANG, MARCO SUN, XIA CHUN, GARY NG, Liangping Gao, Ellen Zhang, Winni Zhou, Samuel Shen, Li Gu, Sam Holmes Organizations: ANZ, CPI, PPI, OCBC, SHANGHAI, MUFG BANK, ASIA PACIFIC, Thomson Locations: BEIJING, CHINA, SHANGHAI, China, SINGAPORE, HONG KONG, Japan, Beijing, Shanghai, Hong Kong

☆ China tips into deflation as efforts to stoke recovery falter
▼ + stars: | 2023-08-09 | by ( Liangping Gao | Ryan Woo | ) www.reuters.com time to read: +4 min

Customers select tomatoes at a stall inside a morning market in Beijing, China August 9, 2023. The consumer price index (CPI) dropped 0.3% year-on-year in July, the National Bureau of Statistics (NBS) said on Wednesday, compared with the median estimate for a 0.4% decrease in a Reuters poll. The producer price index (PPI) declined for a 10th consecutive month, down 4.4% and faster than the forecast 4.1% fall. Asian shares were on the defensive on Wednesday as the Chinese price data confirmed its economic recovery was losing steam. Beijing has set a consumer inflation target of around 3% this year, which would be up from 2% recorded in 2022, and for now, authorities are downplaying concerns about deflation.

Persons: Wang, Japan’s “, ”, Gary Ng, Liu Guoqiang, Xia Chun, Tommy Wu, Wu Organizations: REUTERS, National Bureau of Statistics, “, Asia Pacific, Natixis, Commerzbank Locations: BEIJING, Beijing, China, Asia, Brazil, Japan, Hong Kong

☆ Morgan Stanley names 3 high-conviction global stock ideas, says one could soar 40%
▼ + stars: | 2023-08-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Morgan Stanley has identified three Asia Pacific stocks as "high conviction" and actionable trade ideas. The bank said the three stock ideas highlight "actionable, high-conviction calls" made by its equity research team in the preceding week. However, it cautioned that investors should not interpret these stock ideas as portfolios. Treating 'Three Actionable Ideas' ideas as a portfolio will subject you to the risk of losing all or a substantial portion of your investments," the bank said. Morgan Stanley said its price target was probability-weighted, giving 30% to its bull case and 60% to its base case scenarios.

Persons: Morgan Stanley, Renesas Electronics Morgan Stanley, FactSet, Macquarie, ICICI Bank Morgan Stanley, Michael Bloom Organizations: Asia, Electronics, Australia's Macquarie Group, India's ICICI Bank, Renesas Electronics, Macquarie Group, ICICI Bank Morgan, ICICI Bank Locations: Japan, U.S

☆ Why China has few good options to boost its faltering economy
▼ + stars: | 2023-08-06 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Fiscal stimulus, for instance, amounted to just a third of the aid offered in the United States, with no nationwide cash handouts. “A comprehensive policy mix — covering monetary and fiscal stimulus, including infrastructure, property, and consumption, alongside structural reforms,” would be helpful to rebuild confidence, they said. It was seen as a success and helped boost Beijing’s domestic and international political standing as well as China’s economic growth, which soared to more than 9% in the second half of 2009. China’s debt woes have only deepened during the Covid-19 pandemic, when three years of draconian restrictions and a real estate downturn drained the coffers of local government. “An infrastructure-led fiscal stimulus would need to be much bigger to have the same economic impact,” she said.

Persons: they’ve, ”, Robert Carnell, Craig Singleton, Alicia Garcia, Herrero, China “, wouldn’t, Zhu Min, Garcia, Xi Jinping, Derek Scissors, Singleton, “ Organizations: Hong Kong CNN, CNN, ING Group, Foundation for Defense of Democracies, Manufacturers, Asia Pacific, UBS Global Wealth Management, International Monetary Fund, Bloomberg, American Enterprise Institute Locations: Hong Kong, China, Asia, Pacific, Washington, “, Beijing, United States, China’s, Tianjin

☆ Magnitude 5.5 earthquake strikes northeastern China region
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: 1 min

Asia Pacific category · August 5, 2023 · 12:51 PM UTCPakistan's former Prime Minister Imran Khan, arrested for the second time in four months on Saturday, faces an increasingly tough challenge in his bid to regain office in elections to be held by November.

Persons: Imran Khan Locations: Asia

☆ Analysis-China's stubborn savers risk precipitating liquidity trap
▼ + stars: | 2023-08-04 | by ( Winni Zhou | Rae Wee | ) www.reuters.com time to read: +5 min

“Based on Japan’s experience in the 1990s, there is the risk that China is entering a liquidity trap due to the risks of balance-sheet recession,” said Natixis’s chief economist for Asia Pacific Alicia Garcia Herrero. Fan Gang, a prominent economist and former adviser to the central bank, told a forum in June that China faces a liquidity trap but not a Japan-style deflationary morass. Yet about 180 domestic A-share companies say in their stock filings that they have invested in CDs this year. China’s 220 million retail stock investors, equivalent to Brazil’s population and the biggest drivers of daily moves, have kept to the sidelines this year. “I wouldn’t pour money into the stock market any time before I see a clear rising trend,” he said.

Persons: Florence Lo, ”, Asia Pacific Alicia Garcia Herrero, “, Byron Gill, ‘, ” Gill, Betty Wang, Wu, ” Wu, John Organizations: REUTERS, Companies, Asia Pacific, Pacific Opportunities Fund, U.S, Bank, ANZ, Eastroc Beverage, China Merchants Bank, Bank of Ningbo’s Locations: SHANGHAI, SINGAPORE, Japan, China, Bank, Shanghai

Analysts see the same lack of confidence in today's Chinese households and companies that Japan grappled with in the 1990s. But in China's case there is a key difference; there is no deflationary threat yet, nor have banks switched off lending. Fan Gang, a prominent economist and former adviser to the central bank, told a forum in June that China faces a liquidity trap but not a Japan-style deflationary morass. China's policymakers have cut rates and encouraged banks to lend more in efforts to revive economic growth after the pandemic. China's 220 million retail stock investors, equivalent to Brazil's population and the biggest drivers of daily moves, have kept to the sidelines this year.

Persons: Florence Lo, Asia Pacific Alicia Garcia Herrero, Byron Gill, Gill, Betty Wang, Wu, John, Winni Zhou, Rae Wee, Vidya Ranganathan, Shri Navaratnam Organizations: REUTERS, Companies, Asia Pacific, Pacific Opportunities Fund, U.S, Bank, ANZ, Eastroc Beverage, China Merchants Bank, Bank of Ningbo's, Thomson Locations: SHANGHAI, SINGAPORE, Japan, China, Bank, Shanghai, Singapore

☆ What Japanese potato chip maker Calbee learned from a potato shortage
▼ + stars: | 2023-08-04 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —What happens when Asia’s biggest potato chip maker runs out of potatoes? Pepsi (PEP) controls about 24% of the region’s potato chip market, while Calbee has about 12%, according to data from Euromonitor International. But the area was ravaged by drought in 2021, and the firm’s domestic potato supply fell by 8% and 14% in the 2021 and 2022 fiscal years, respectively. Calbee tried to make up for the shortfall by importing more from the United States, which normally accounts for the remaining 10% of its potato supply. “Staying available on shelves is essential, not just to compete with other potato chip brands but also with other types of snacks.”

Persons: ”, Makoto Ehara, Noriko Hayashi, Calbee, Ehara, it’s, Keiei Sho, Sho, Emil Fazira Organizations: Hong Kong CNN, CNN, Bloomberg, Getty, Pepsi, Euromonitor, United Nations, Food, Agriculture Organization, FAO, Walmart Locations: Hong Kong, Tokyo, Asia, Brazil, Ukraine, Japan, Hokkaido, United States, Pacific Northwest, ”, America, Europe, China, Indonesia, Asia Pacific

☆ Gold set for worst week in six as U.S. yields surge before jobs data
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: +2 min

Gold prices looked set to post their worst week in six on Friday as investors braced for a closely watched U.S. jobs report after a string of solid economic data this week drove Treasury yields to nine-month highs. Spot gold was little changed at $1,935.07 per ounce by 0412 GMT, while U.S. gold futures rose 0.1% to $1,970.30. Gold prices have declined more than 1% so far this week, having slipped to their lowest level since July 11 in the last session. U.S. long-term Treasury yields climbed to their highest since November on Thursday after employment and other economic data pointed to easing inflation. Non-farm payrolls, or NFP, data due at 1230 GMT will be the next focus for further clues about the U.S. economy's strength.

Persons: Tim Waterer, it's, Kelvin Wong Organizations: Aurum, KCM, of England, European Central Bank Locations: Asia Pacific

☆ Airbnb forecasts Q3 revenue above estimates on rebound in international travel
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/IllustrationAug 3 (Reuters) - Airbnb (ABNB.O) forecast revenue for the current quarter above market estimates on Thursday, as the vacation rental firm is set to gain from a rebound in international travel. The San Francisco-based company forecast revenue for the third quarter between $3.3 billion and $3.4 billion, ahead of analysts' average estimate of $3.22 billion, as per Refinitiv data. Travel operators have begun to benefit from a robust rebound in international travel, aided by pandemic restrictions easing and a strong U.S. dollar that has encouraged consumers to book flights and stays overseas. Gross bookings rose 13% to $19.1 billion, in line with analysts' average estimate. Airbnb's quarterly revenue rose 18.1%, to $2.48 billion, ahead of analysts' estimate of $2.42 billion.

Persons: Dado Ruvic, Airbnb, Gross, Priyamvada, Pooja Desai Organizations: REUTERS, Asia Pacific, Marriott, Hilton Worldwide Holdings, Spirit Airlines, Thomson Locations: San Francisco, United States, North America, Paris, France, Bengaluru

☆ Food delivery apps Grab and Foodpanda expand into dine-in services as explosive growth stalls
▼ + stars: | 2023-08-03 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Bryan van der Beek | Bloomberg | Getty ImagesSINGAPORE — Singapore-based food delivery apps Grab and Foodpanda are expanding into the dine-in space, as consumers look to eat out more post-pandemic. Foodpanda was the first food delivery companies in Singapore to introduce dine-in features in 2021. Food delivery is currently still Foodpanda's largest business, followed by grocery delivery, he said. In June, food delivery service AirAsia Food launched dine-in services in collaboration with restaurant reservation platform eatigo. Food delivery apps want to help [restaurants] get some business in terms of dining in and booking.

Persons: Bryan van der Beek, Bernstein, Foodpanda, Jakob Sebastian Angele, Jonathan Woo, Phillip Securities Research Angele, TabSquare, Jein, GrabFood's, Tay, Woo, Sachin Mittal Organizations: Central Business District of Singapore, Bloomberg, Getty, SINGAPORE —, CNBC, Phillip Securities Research, AirAsia Food, DBS Bank Locations: SINGAPORE, SINGAPORE — Singapore, Singapore, Thailand, Indonesia, Malaysia, Philippines, Vietnam, Hong Kong, Pakistan, Bangladesh, Asia Pacific

☆ Morgan Stanley upgrades India to "overweight", terms it top pick among emerging markets
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

The Indian flag flies in front of the new logo of the Securities and Exchange Board of India (SEBI) at its headquarters in Mumbai, India, April 19, 2023. REUTERS/Francis Mascarenhas/File PhotoBENGALURU, Aug 3 (Reuters) - Morgan Stanley has upgraded its view on Indian markets to "overweight" from "equal weight", citing easing valuations as compared to October 2022, when the global brokerage identified the onset of a new bull market in Asian and emerging market equities. India is now the top ranked, most-preferred market among emerging markets (EMs), rising from the sixth spot, due to supportive foreign inflows, macro stability and positive earnings outlook, the brokerage said in a note late Wednesday. Sectorally, the brokerage remains overweight on financials, consumer discretionary and industrial segments in India, and has an "add" rating on Larsen & Toubro and Maruti Suzuki India in its Asia Pacific focus and Global Emerging Markets lists. "We think returning India to an "overweight" rating and downgrading China to "equal weight" is warranted," analysts said, referring to the Indian markets' outperformance over China as a sign of a structural breakout in favour of India.

Persons: Francis Mascarenhas, Morgan Stanley, Larsen, Bharath Rajeswaran, Sonia Cheema Organizations: Securities and Exchange Board of India, REUTERS, Toubro, Maruti Suzuki, Thomson Locations: Mumbai, India, BENGALURU, Asia, China, Bengaluru

☆ Troubled health name bounces after strong quarter and guidance. Here's our view on the stock
▼ + stars: | 2023-08-03 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Another possible catalyst is the monetization of BHC's Bausch + Lomb (BLCO) stake. Bausch + Lomb update On the earnings release, management highlighted a change in thinking about how to handle their stake in Bausch + Lomb. We'll be on the lookout for more information on the Bausch + Lomb situation in the coming days. Guidance BHC management raised their full-year revenue guidance for 2023 while reaffirming their adjusted EBITDA outlook. Excluding Bausch + Lomb, the team now expects full-year revenue to be in the range of $4.5 billion to $4.65 billion.

Persons: it's, Refinitiv, BHC's Bausch, Bausch, We'll, Generics, Jim Cramer's, Jim Cramer, Jim, Rafael Henrique Organizations: Health, Bausch Health, Management, Bausch Health Companies, BHC's, Dentistry, CNBC Locations: BHC, Bausch, East, Africa, Canada, Asia, China

☆ Here's the 14-page pitch deck that 40Seas, a fintech looking to bring "buy now pay later" to the trade industry, used to raise $16 million
▼ + stars: | 2023-08-02 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

It raised an $11 million seed round in January and raised an additional $6 million in an extension. Here's the pitch deck the startup used to fundraise, which attracted investors like QED Investors. Even though his startup 40Seas only launched seven months ago, for Eyal Moldovan, the business has been decades in the making. 40Seas raised its seed round in January as investors funneled $11 million into the fledgling startup. Here's the 14-page pitch deck 40Seas used to raise its seed and seed extension.

Persons: Eyal, Igor Zaks, Gil Shiff, Suki Gao, Camila, Saruhashim, 40Seas Organizations: QED, Eyal Moldovan, Moldovan, ZIM, Eminence Ventures Locations: Israel, China, India, Tel Aviv, Canada, Europe, Asia Pacific, Australia, New Zealand, Moldovan

☆ Stocks fall, Treasuries gain after Fitch downgrades US rating
▼ + stars: | 2023-08-02 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

REUTERS/Kim Kyung-Hoon/file photoHONG KONG, Aug 2 (Reuters) - Asian stocks traded lower while U.S. Treasury yields declined on Wednesday, after ratings agency Fitch unexpectedly downgraded the United States' top-tier sovereign credit rating. Asian stocks were also weighed by declines on Wall Street overnight. Fitch cut the United States by one notch to AA+ from AAA, citing fiscal deterioration, a decision announced after the Wall Street close on Tuesday. U.S. 10-year Treasury yields declined by about 2 basis points to 4.025% in Tokyo. The United States publishes fresh data on jobless claims and unemployment later this week.

Persons: Kim Kyung, Fitch, Hong Kong's, HSI, Manishi Raychaudhuri, counterintuitively, Steven Ricchiuto, Brent, Xie Yu, Sam Holmes Organizations: REUTERS, U.S, Treasury, United, Japan's Nikkei, AAA, Asia, BNP Paribas, Standard, U.S ., Mizuho Securities, West Texas, Thomson Locations: Tokyo, Japan, HONG KONG, United States, Asia, ., U.S, China

Chinese developers are allowed to sell residential projects before completion but are required to put those funds in escrow accounts. Local city governments permit them to withdraw a portion of the funds, depending on the progress of construction. China's housing ministry did not respond to Reuters request for comment on the tightening of developers' access to escrow funds. FALTERING HOUSING DEMANDThe new measures come as property demand is sluggish - China's property sales between May and June showed the largest monthly drop this year, based on sales by floor area, and investment in property also slumped. Under those rules, the authority has asked the bank to make escrow funds available only to developers who have other sources of funding to cover construction costs, said the person.

Persons: Gary Ng, Ng, Clare Jim, Tang, Sumeet Chatterjee, Muralikumar Organizations: Asia Pacific, National Bureau of Statistics, Thomson Locations: HONG KONG, BEIJING, Asia, Hunan, Hefei, Xiamen, Hong Kong, Beijing

Over the two trading days since, the market has tried to second-guess the pace at which the BOJ wants yields to move, while the BOJ has run special bond-buying operations to cap yields. "There is only a very, very small possibility of a sudden or very steep rise in JGB yields, because too many people want to buy the bonds. The maximum yield investors demanded was 0.6%, just 10 basis points (bps) above the previous policy cap. The promise of an extra 10-20 bps of JGB yield means 10-year JGBs hedged from dollars into yen can yield upwards of 6%. As per BOJ data, lifers and pension funds held roughly 26% of a 1,132 trillion yen ($7.93 trillion) JGB market at the end of 2019.

Persons: It's, we've, Ales Koutny, Rong Ren Goh, BOJ, Tomoya Masanao, Masanao, Rae Wee, Tom Westbrook, Harry Robertson, Alun John, Vidya Ranganathan, Himani Sarkar Organizations: Bank of Japan, JGBs, Vanguard Asset Management, Eastspring Investments, Foreigners, U.S, Nippon Life, Asia Pacific, Thomson Locations: SINGAPORE, TOKYO, United States, Europe, Singapore, JGBs, Belgian, Japan, PIMCO, Sydney, London

☆ The number of partners to leave Goldman Sachs since David Solomon took over as CEO just hit 90
▼ + stars: | 2023-08-01 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

It's been a busy summer for Goldman Sachs' partner departures. Two more farewell memos went out on Tuesday, including for Lisa Opoku and David Rusoff. Just weeks after reporting a 58% drop in profit, the Goldman Sachs CEO was hit with a wave of high-profile defections that bring the number of partners who have left under Solomon to 90. Opoku worked as global head of the Goldman Sachs Partner Family Office, which oversees the firm's wealth management offerings for current and retired Goldman Sachs partners, managing directors, and alumni. In her current role, Lisa oversees the firm's wealth management offerings for current and retired Goldman Sachs partners, managing directors and alumni.

Persons: It's, Goldman Sachs, Lisa Opoku, David Rusoff, Julian Salisbury, Takashi Murata, David Solomon, Solomon, Goldman, — Lisa Opoku, David Rusoff —, pare, Tammy Kiely, Frederick Baba, Dina Powell McCormick, Opoku, Marc Nachmann, Kathryn Ruemmler, Rusoff, Ken Griffin's, Peng Zhao, David Thomas, Goldman's, Thomas, Shawn Fagan, Lisa Organizations: Asia Pacific, Global Banking, Markets, Citadel Securities, Citadel, Engineering, Securities Division, Commodities Bank, Black Network, Advisors, Black Economic Alliance, Firmwide Locations: Hong Kong, Asia, New York, London, Americas

China's application, by far the biggest economy, is next in line if they are dealt with in the order they were received, although that is not a given. The free trade agreement has its roots in the U.S.-backed Trans-Pacific Partnership, developed in part to counter China's growing economic dominance. I think that is completely wrong," Tim Groser, a former New Zealand trade minister and chief trade negotiator said. For CPTPP members, China's application is not the only political dilemma. Taiwan is also seeking to join the pact, in a move opposed by China that member trade negotiators remain unsure about.

Persons: Chris Hipkins, Shigeyuki Goto, Damien O’Connor, Trade Kemi, Damien O'Connor, Donald Trump, Henry Gao, couldn't, Tim Groser, CPTPP, Graham Zebedee, Britain's, New Zealand Wang Xiaolong, Hopes, Wang Huiyao, Antony Blinken, Natalie Black, Lucy Craymer, Joe Cash, Jamie Freed Organizations: New Zealand, Economic, New, Trade, Export, State, Business, Malaysian, Beijing, Pacific, New Zealand's Trade, Pacific Partnership, Communist Party, Singapore Management University, Ministry of Foreign Affairs, World Trade Organization, Australia, Center for, Political, Comprehensive Economic, U.S, Asia Pacific, Thomson Locations: British, Trade Kemi Badenoch, Taiwan, AUCKLAND, BEIJING, China, Pacific, Britain, Auckland, Ukraine, Costa Rica, Uruguay, Ecuador, U.S, Japan, Australia, Canada, Beijing, New Zealand, SOEs, Mexico, Center for China, Wellington, Asia

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