November, 2022

• 10 November

  Putin to skip G-20 Indonesia summit, facing cold shoulder

  

  Vladimir Putin won’t attend the Group of 20 summit next week, people familiar with the planning said, as the Kremlin seeks to protect the president from potential high-level tensions over his invasion of Ukraine. Ending months of suspense, Putin’s decision avoids potential confrontations with other world leaders, including US president Joe Biden who has labeled the Russian president a “war ...

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• 10 November

  Republicans eye narrow margin in House

  

  US voters delivered a mixed verdict in elections shaped by inflation and splits around social issues, with Republicans headed toward control of the US House, but by smaller margins than forecast. With polls closed across most of the US, some of the bellwether races that Republicans had hoped to snatch were held by Democrats. In one of their biggest wins ...

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• 10 November

  Hungary denies tying Nato expansion to EU spat but still delays

  

  Hungary denied it’s holding up the Nato entry bids of Finland and Sweden as part of its fight over billions of euros in European Union aid but won’t vote on expanding the military alliance until it passes laws tied to the cash. Finland and Sweden, which are also EU members, will cast votes when the bloc decides next month on ...

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• 10 November

  Wells Fargo faces US demand for record fine exceeding $1bn

  

  Wells Fargo & Co. is under pressure from the Consumer Financial Protection Bureau to pay more than $1 billion to settle a series of investigations into mistreatment of customers, a deal that would shatter the agency’s previous record — also with Wells Fargo. The regulator’s demand in confidential talks, described by people with direct knowledge of the matter, reflects its ...

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• 10 November

  Barclays to refund 1,000 customers for PPI breach

  

  Barclays Plc will refund more than a 1,000 customers an average of £750 ($858) after it failed to send them reminder of its payment protection insurance (PPI) policies. The total payout of up to £1 million is made up of refunds and goodwill payments, according to a Competition & Markets Authority (CMA) statement on Wednesday. The CMA requires providers to ...

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• 10 November

  Banks fall dangerously short of pledges in new net-zero study

  

  Most banks that have published net-zero emissions targets are failing to live up to those commitments, according to a fresh study by ShareAction. The majority of the 43 largest financiers of fossil fuels in the Net Zero Banking Alliance (NZBA) “have climate targets that fall short of what’s needed to prevent the worst impacts of climate crisis,’’ the nonprofit said. In ...

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• 10 November

  US futures wobble as midterm elections return mixed verdict

  

  US equity-index futures fluctuated between gains and losses as corporate performance showed signs of stress and midterm elections failed to yield a Republican sweep that investors had anticipated. December contracts on the Nasdaq 100 and S&P 500 indexes were little changed, a day after US stocks capped a three-day rally. News Corp. and Walt Disney Co. tumbled at least 8% ...

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• 10 November

  China investors snapped up $15bn of tech stocks in HK

  

  Chinese investors have been scooping up Hong Kong tech stocks for weeks on end, lured by the market’s cheap valuation after shares saw some of the biggest plunges worldwide. Onshore investors have been net buyers of Hong-Kong listed stocks for 24 straight sessions through Nov. 8, adding HK$118 billion ($15 billion) in the longest run of gains since early 2021, ...

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• 10 November

  Adidas cuts profit forecast after ending Yeezy partnership

  

  Adidas AG slashed its profitability forecast for the fourth time this year after ending its partnership with rapper Ye and discontinuing the lucrative Yeezy line of sneakers. The German company said it now expects an operating margin of 2.5% this year, down from a previous 4% target. The lower forecast reflects the company’s decision last month to end its collaboration ...

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• 10 November

  ITA Airways gets new state funding as sale process slows

  

  Italy is preparing to give ITA Airways a further cash injection, as the newly elected right-wing government reviews plans to sell the state-controlled carrier in the coming months. The finance ministry has approved a new outlay of €400 million ($400 million) to support ITA, the successor to failed flag carrier Alitalia, people familiar with the matter said. That would bring ...

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