November, 2022

• 24 November

  European stocks boosted by rate-hike outlook; dollar slips

  

    Bloomberg European stocks gained and the dollar fell after Federal Reserve meeting minutes showed support for more moderate interest rate increases. The Stoxx Europe 600 Index extended its recent rally as the real estate sector outperformed, boosted by the prospects of slower rate hikes and analyst upgrades. Dr. Martens Plc shares plunged the most on record after the bootmaker’s ...

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• 24 November

  Malaysia stocks advance most since March 2020

  

    Bloomberg Malaysian stocks surged the most in over two years after veteran opposition leader Anwar Ibrahim was appointed the new prime minister, ending a political impasse that’s weighed on markets this week. The benchmark FTSE Bursa Malaysia KLCI Index rallied 4% at the close. Gaming companies including Genting Malaysia Bhd., Sports Toto Bhd. And Magnum Bhd rise as the ...

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• 24 November

  Best Buy soars most since 2020 after tempering rocky outlook

  

    Bloomberg Best Buy Co. jumped the most in more than two years after modestly improving its profit forecast and signalling its recent sales slump is starting to ease. Adjusted operating income this year will be “slightly higher” than the previous forecast of 4% of sales, the consumer-electronics retailer said as it reported third-quarter results. In addition, the decline in ...

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• 24 November

  Escape slides of Airbus superjumbo at risk of bursting

  

  Bloomberg Emergency slides on Airbus SE A380 superjumbos are in danger of bursting when deployed after suffering degradation while jets were idled during the coronavirus crisis, Europe’s aviation regulator warned. Operators of the double-decker must replace escape chutes on two over-wing and six upper-deck exits when returning their aircraft to service, the European Union Aviation Safety Agency (EASA) said in ...

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• 24 November

  Jollibee Foods plans to open 100 small stores in China next year

  

    Bloomberg Jollibee Foods Corp. targets to open at least 100 stores in China next year, said its CEO, who sees lockdowns as a “temporary setback” to the Philippine fast-food chain’s target of getting half of sales from abroad. With food delivery expected to drive growth, the Philippine company that’s known for dishes like fried chicken and sweet spaghetti targets ...

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• 24 November

  Ice cream binge prompts chocolatier to boost output

  

    Bloomberg The world’s largest maker of bulk chocolate is boosting production capacity in the Americas to meet rising demand from the ice cream industry. Barry Callebaut AG, whose clients include Nestle SA and Mars Inc., plans to increase factory capacity in the region by 15% in the next 18 to 20 months, said Steve Woolley, the company’s president for ...

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• 24 November

  US orange juice imports from Brazil rise

    Bloomberg The US is stocking up on Brazilian orange juice after Hurricane Ian and disease devastated citrus groves in Florida, the top producing state for the popular breakfast beverage. Shipments to the US from the world’s top exporter are up 58% in the first four months of the season from a year ago, hitting a record 112,500 metric tons ...

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• 24 November

  Credit Suisse saw $88 billion outflows as confidence slumps

  

    Bloomberg Credit Suisse Group AG clients pulled as much as 84 billion Swiss francs ($88.3 billion) of their money from the bank during the first few weeks of the quarter, underlining ongoing concerns over the bank’s restructuring efforts after years of scandals. The Zurich-based bank warned on Wednesday that it will face a loss of up to $1.6 billion ...

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• 24 November

  RBNZ raises interest rates by record 75 basis points

  

    Bloomberg New Zealand’s central bank (RBNZ) raised interest rates by a record 75 basis points and signalled further tightening ahead, stepping up its inflation fight even as it forecasts a recession next year. Short-maturity bond yields surged after the Reserve Bank’s Monetary Policy Committee lifted the official cash rate to 4.25% from 3.5% on Wednesday in Wellington, as predicted ...

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• 24 November

  Nigeria central bank unveils redesigned currency notes

    Bloomberg Nigeria unveils redesigned high-denomination banknotes as the central bank confirmed a January deadline to roll out the new bills despite calls for an extension. “We will not shift the deadline,” Governor Godwin Emefiele said at a briefing in the capital, Abuja. Critics of the move have argued that the six-week window will cause massive lines at banks and ...

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