October 2, 2023

Bloomberg Daybreak Asia. Live from New York and Hong Kong, bringing you the essential stories from the close of the U.S. markets to the open of trading across Asia.
Live market coverage co-anchored from Hong Kong and New York. Overnight on Wall Street is daytime in Asia. Markets never sleep, and neither does Bloomberg. Track your investments 24 hours a day, around the clock from around the world.
German payments company Wirecard was the darling of the nation’s fintech industry. Then came the admission that almost $2 billion of the company’s funds had gone missing.
Oil Holds Advance After OPEC+ Delivers Modest Cut in Production
Truss Earmarks £130 Billion to Keep UK Energy Bills Below £2,000
Homebuilders Merge Amid Signs of Cooling Market: The London Rush
Singapore Hunts for Global ‘Rainmakers’ With New Expat Visa
Saudis Say OPEC+ to Stay Proactive After Agreeing Supply Cut
China Says US Hacked Aeronautics, Space Research University
Claim of TikTok Breach Spotlights Viral App’s Lure as Target
PMI Weighs Lowering Swedish Match Acceptance Threshold
Hungary’s Orban Agrees to Set Up Independent Anti-Graft Body
Ukraine’s Premier Wants War to End Soon as Time Favors Russia
Fortune of Jailed Chinese Billionaire’s Family Survives in Exile
Billionaire Bets on Renewables in Biggest 2022 Philippine IPO
Nadal’s 22-Match Slam Winning Streak Ends With Loss to Tiafoe at US Open
Patriots Facing 2 Opponents This Week: Heat And the Dolphins
A New Chinese EV Battery Giant Has Emerged
Japan’s Play-It-Safe Prime Minister Is Living Dangerously
Yuan’s Slide Shouldn’t Be Seen With Shock, Horror
Startup Wants to Chart Path to More Equitable Urban Development
The ESG Crown Is Slipping, and It’s Mostly the Fund Industry’s Own Fault
A New Contaminant Found in Popular Drugs Could Cost Big Pharma Millions
Chicago Receives Another 50 Migrants Sent By Bus From Texas
Arsenic Found in Tap Water of NYC Public Housing Complex
Typhoon Leaves 20,000 Homes Without Power in South Korea
California Facing Chance of Blackouts Amid Brutal Heat Wave
Urban Migration Slows in 2022 for Many Major US Cities
Stockholm’s ‘Housing for All’ Is Now Just for the Few
A Ring of Empty Pedestals Marks the Lack of Women in Copenhagen’s Public Art
Binance Says It’s Converting Users’ USDC Into Its Own Stablecoin
Bitcoin Finds Relief From a Past Record High in 2017
Bitcoin Loses Momentum on Weekend With Support Around 2017 High

A currency near the lowest in decades, an unprecedented surge in government borrowing costs and record underperformance in domestic stocks — such is the dismal scene in markets that awaits Liz Truss, Britain’s new prime minister.
The pound, already down about 15% this year versus the dollar, just posted its worst monthly performance since the 2016 Brexit vote. Meanwhile, borrowing costs for businesses have jumped after six back-to-back rate hikes by the Bank of England, while expectations of further increases have shot up amid warnings that inflation will spiral further out of control.


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