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Bloomberg Crypto

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Bloomberg Crypto

@0x377c85e37c50d75591c6a126d7e42511df527167

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  • China Envoy Sends Letter to UN Chief Over Japan’s Taiwan Remark China sent a letter to the United Nations vowing resolute self-defense if Japan “dared to intervene militarily in the Taiwan Strait,” as Beijing tries to rally international support for its position on the spiraling spat. China’s Permanent Representative to the United Nations Fu Cong delivered the message to Secretary-General Antonio Guterres on Friday, according to the state-run Xinhua News Agency. The letter will be distributed to all UN members, according to the report. “If Japan dares to intervene militarily in the Taiwan Strait situation, it will constitute an act of aggression,” Fu wrote. “China will resolutely exercise its right of self-defense under the UN Charter and international law, safeguarding its national sovereignty and territorial integrity.” Japanese President Sanae Takaichi earlier this month became the first sitting Japanese leader to publicly link a Taiwan Strait crisis with the possible deployment of Japanese troops. Beijing responded by unleashing a flurry of economic reprisals and repeated demands for Japan’s new leader to recant her remarks. So far, she’s refused, creating a standoff with Japan’s biggest trade partner. China deems self-ruled Taiwan its territory to be claimed one day, by force if necessary, and considers the issue a red line in its diplomatic relationships. All previous Japanese leaders have deflected on the question of what would be a “survival threatening situation” to Japan, maintaining strategic ambiguity and saying they’d make a decision based on the circumstances at the time. While Takaichi has said in parliament she’s learned her lesson and will refrain from specifying a possible scenario in which Japan could deploy troops, she’s also maintained that Tokyo hasn’t changed its policy.
  • The Fed’s New Patience Recognizes Reality Investors’ certainty that the Federal Reserve would follow its recent interest-rate cut with another in December has evaporated. Treasuries dropped by the most in nearly five months after Chair Jerome Powell — departing from his previous messaging — said with heavy emphasis that another cut by the end of the year was “not a foregone conclusion.” This adjustment was both wise and consequential. Amid much economic uncertainty, and with essential data unavailable due to the government shutdown, the central bank needs to be — and be seen to be — open-minded. That investors were previously all but certain of another cut proves that the Fed’s earlier messaging had gone astray.
  • ECB’s Position on Rates Is Good But Not Fixed, Villeroy Says The European Central Bank’s monetary policy is well positioned but could yet shift as officials grapple with risks including those emanating from financial markets, Governing Council member Francois Villeroy de Galhau said. The remarks follow the ECB’s decision to leave its deposit rate at 2% for a third straight meeting, with President Christine Lagarde saying she and her colleagues “will do whatever is needed to make sure that we stay in a good place.”
  • While Nintendo seeks to cash in on existing fans with growing forays into cinema and theme parks, the rest of the industry is investing in new IP and luring consumers to subscription platforms that are fundamentally changing how gamers spend their time and money. “There’s an absolute oversupply of content, on every single platform,” Tokyo-based industry analyst Serkan Toto said. “You have the forever games, Fortnite, Minecraft, Roblox. And things like Netflix and TikTok, these weren’t around 10 years ago.” Inside Nintendo, that’s seen as all the more reason to keep focusing on creativity over trends and technology. Former Wii engineer Tamaki says he still remembers Iwata emphasizing to him and other young developers the importance of doing things differently and taking on risks. “It’s usually the other way around: Young people are full of energy and ideas, and middle management or executives tend to shut them down,” he said. “But at Nintendo, when we’d look around and say things like, ‘Sony is doing this, maybe we should too?’ the vibe from executives would be, ‘let them do their thing — we’re doing ours.’”
  • While Nintendo seeks to cash in on existing fans with growing forays into cinema and theme parks, the rest of the industry is investing in new IP and luring consumers to subscription platforms that are fundamentally changing how gamers spend their time and money. “There’s an absolute oversupply of content, on every single platform,” Tokyo-based industry analyst Serkan Toto said. “You have the forever games, Fortnite, Minecraft, Roblox. And things like Netflix and TikTok, these weren’t around 10 years ago.” Inside Nintendo, that’s seen as all the more reason to keep focusing on creativity over trends and technology. Former Wii engineer Tamaki says he still remembers Iwata emphasizing to him and other young developers the importance of doing things differently and taking on risks. “It’s usually the other way around: Young people are full of energy and ideas, and middle management or executives tend to shut them down,” he said. “But at Nintendo, when we’d look around and say things like, ‘Sony is doing this, maybe we should too?’ the vibe from executives would be, ‘let them do their thing — we’re doing ours.’”
  • While Nintendo seeks to cash in on existing fans with growing forays into cinema and theme parks, the rest of the industry is investing in new IP and luring consumers to subscription platforms that are fundamentally changing how gamers spend their time and money. “There’s an absolute oversupply of content, on every single platform,” Tokyo-based industry analyst Serkan Toto said. “You have the forever games, Fortnite, Minecraft, Roblox. And things like Netflix and TikTok, these weren’t around 10 years ago.” Inside Nintendo, that’s seen as all the more reason to keep focusing on creativity over trends and technology. Former Wii engineer Tamaki says he still remembers Iwata emphasizing to him and other young developers the importance of doing things differently and taking on risks. “It’s usually the other way around: Young people are full of energy and ideas, and middle management or executives tend to shut them down,” he said. “But at Nintendo, when we’d look around and say things like, ‘Sony is doing this, maybe we should too?’ the vibe from executives would be, ‘let them do their thing — we’re doing ours.’”
  • While Nintendo seeks to cash in on existing fans with growing forays into cinema and theme parks, the rest of the industry is investing in new IP and luring consumers to subscription platforms that are fundamentally changing how gamers spend their time and money. “There’s an absolute oversupply of content, on every single platform,” Tokyo-based industry analyst Serkan Toto said. “You have the forever games, Fortnite, Minecraft, Roblox. And things like Netflix and TikTok, these weren’t around 10 years ago.” Inside Nintendo, that’s seen as all the more reason to keep focusing on creativity over trends and technology. Former Wii engineer Tamaki says he still remembers Iwata emphasizing to him and other young developers the importance of doing things differently and taking on risks. “It’s usually the other way around: Young people are full of energy and ideas, and middle management or executives tend to shut them down,” he said. “But at Nintendo, when we’d look around and say things like, ‘Sony is doing this, maybe we should too?’ the vibe from executives would be, ‘let them do their thing — we’re doing ours.’”
  • Thai Princess Being Treated for Severe Infection, Bureau Says Thai Princess Bajrakitiyabha Narendira Debyavati, who has been unconscious for nearly three years after collapsing due to a heart condition, is now being treated for a severe infection, the Bureau of the Royal Household said. Doctors treating the 46-year-old princess, the oldest of King Maha Vajiralongkorn’s seven children, detected an infection in her bloodstream on Aug. 9, the bureau said in a statement Friday. She’s been administered different types of antibiotics and other medication to stabilize her blood pressure levels, it said.
  • Southern Water Brings Pound Debt Market’s Biggest Deal of Year UK utility Southern Water Ltd. is selling the biggest sterling corporate bond in nearly 18 months as it seeks to shore up its finances. The company is raising £750 million ($993 million) of seven-year senior secured notes, according to a person with knowledge of the sale, who asked not to be identified as the information is private. It’s the biggest deal in the currency from a non-financial borrower since UK film studio Pinewood priced a same-sized deal in March 2024, data compiled by Bloomberg show.

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