Bloomberg Hedging exposure to the S&P 500 index via options is going to remain costly yet vital next year due to the pandemic and relative lack of protection from traditional havens, Tallbacken Capital Advisors LLC said. “Vaccine volatility” is likely because of the winding paths ahead to the eventual introduction of an inoculation or other therapies, according to Tallbacken CEO …

Bloomberg India stocks tracked Asian peers higher ahead of the US election. The S&P BSE Sensex climbed 0.8% to 40,067.14 as of 10:04 am in Mumbai, while the NSE Nifty 50 Index advanced by the same magnitude. Swings in stock prices are set to ease for the first day in five after a measure of volatility touched its highest level …

Bloomberg Oil kicked off what promises to be a turbulent week of trading by plunging to a five-month low as a continued increase in Libyan crude production coincided with a wave of new virus-lockdown measures in Europe. The double whammy of falling demand and growing supply pushed futures in New York down as much as 6% in Asian trading. That …

Bloomberg Exxon Mobil Corp warned it may take up to $30 billion in writedowns on natural gas fields acquired more than a decade ago, and reported a third straight quarterly loss. Exxon is confronting one of its biggest crises. If the company takes the full $30 billion impairment, it will be the industry’s worst in more than a decade, according …

Bloomberg Chevron Corp posted a surprise profit as the oil supermajor slashed capital spending to cope with the pandemic-driven collapse in crude demand. The California oil titan posted adjusted per-share earnings of 11 cents for the third quarter, outperforming the average 27-cent loss expected by analysts in a Bloomberg survey. Times are tough for the industry and Chevron is willing …

Bloomberg Reliance Industries Ltd, India’s most valuable company led by billionaire Mukesh Ambani, reported a 15% decline in profit for the quarter through September, as the coronavirus pandemic gutted demand for transportation fuels. Net income fell to 95.7 billion rupees ($1.28 billion) from 112.6 billion rupees a year earlier, the Mumbai-based company said in an exchange filing. That compares with …

Bloomberg Overseas travel from England that’s not related to work will be prohibited to help curb a resurgence of the coronavirus, throwing airlines into a fresh crisis. The new rules, part of a wider partial lockdown by Prime Minister Boris Johnson, will apply from Thursday until December 2 and come as the industry struggles to survive a collapse in demand. …

Bloomberg Two of the top beauty products subscription services are merging. Ipsy has agreed to buy Miami-based rival BoxyCharm Inc, a pairing that will create a combined business with more than 4.3 million subscribers and $1 billion in revenue this year, according to the company. Ipsy and BoxyCharm will operate as separate brands in a merged company called BFA Industries, …

Bloomberg South Africa’s National Treasury has defended a controversial 10.5 billion rand ($641 million) lifeline for its bankrupt national airline, saying that setting it on the path to recovery will entice private investors. “Government is not going to want to hold on to South African Airways (SAA) at all costs,” Treasury Director-General Dondo Mogajane said in an interview after the …

Bloomberg Berlin’s new airport finally opened its doors, welcoming passengers after an eight-year delay just as fallout from the coronavirus hammers travel demand. Planes from Deutsche Lufthansa AG and Easyjet Plc landed at Berlin Brandenburg Willy Brandt Airport — known by its airport code BER — shortly after 2 pm on October 31 to inaugurate the hub. Regular departures started …