November, 2022

• 16 November

  Nestle still bullish on plant protein despite dip in demand

  

  Bloomberg A recent fizzle in the hype surrounding plant protein consumption will give way to a more sustainable growth trajectory that could see the segment account for 30% or 40% of the global protein market, according to a top Nestle SA executive. Many investors piled into the faux meat market based on overly optimistic expectations of consumer uptake, Chief Technology …

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• 16 November

  Amazon plans to cut 10,000 jobs

    Bloomberg Amazon.com Inc. plans to cut about 10,000 jobs, the largest ever headcount reduction at the e-commerce giant as it braces for slower growth and a possible recession. The layoffs, which could begin as soon as this week, will likely target Amazon’s devices group, responsible for the Echo smart speakers and Alexa digital assistant, as well as Amazon’s retail …

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• 16 November

  China maintains ample cash in system to help snap bond slump

  

    Bloomberg China sought to maintain ample cash levels in its financial system with liquidity tools of different maturities, helping halt the worst government bond selloff in six years. The liquidity infusion this month, which was done with a combination of short, medium and long-term tools, exceeded the 1 trillion yuan maturity, according to the People’s Bank of China (PBOC). …

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• 16 November

  India’s Paytm faces another reckoning after $10bn selloff

  

    Bloomberg Paytm, India’s leading digital payments brand, faces another reckoning, a year after it recorded the grisliest initial public offering in India’s history. This week, the lock-up period for the company’s stock will expire, freeing investors to sell shares that haven’t yet been allowed onto the market. The biggest shareholders in One97 Communications Ltd., Paytm’s parent company, are Alibaba …

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• 16 November

  Crypto regulation needs to be global, says BaFin head

    Bloomberg Crypto assets need to be subject to global rules if they’re adopted by mainstream finance and expose banks and a wider swathe of investors to risk, Germany’s top regulator said. The recent crash in digital assets was well-timed given the ties between traditional finance and crypto are still limited, meaning it doesnt pose a risk to financial stability, …

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• 16 November

  Chinese stocks in US rise again on triple whammy of positives

  

    Bloomberg Chinese stocks listed in the US were set to rise for a fourth day, as traders digested a triple-whammy of positive news that has eroded the pessimism of a few weeks ago. The KraneShares CSI China Internet Fund, an exchange-traded product holding more than 40 Chinese stocks, rose 7.4% in premarket trading, extending its 17% gain in the …

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• 16 November

  UK stocks most disliked among investors: Survey

  

    Bloomberg Global equity investors remain most bearish on the UK’s stocks among major markets, Bank of America Corp (BofA) said, even after a partial recovery in British assets following September’s ‘mini budget’ turmoil. A net 25% of fund managers are underweight UK stocks, according to BofA’s latest survey. While that’s an improvement from last month — which saw a …

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• 16 November

  Warren Buffett’s Berkshire buys $4bn stake in Jefferies

    Bloomberg Warren Buffett’s Berkshire Hathaway Inc. took a position in Jefferies Financial Group Inc. even as it trimmed its stake in financial stocks including US Bancorp and Bank of New York Mellon Corp. The conglomerate held more than 433,000 shares of Jefferies, the New York-based investment bank, as of September 30, according to a quarterly filing Berkshire was a …

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• 15 November

  Mena records 524 M&A deals worth AED202.7bn in 9 months of this year

  

    Dubai / Gulf Time The Mena region witnessed 524 deals worth AED202.76 billion ($55.2 billion) during the first nine months of the year, according to the latest EY Mena M&A Insights report. Rising inflationary pressures, dampening economic demand and global market disruptions resulted in moderate growth in deal activity of 6% year-on-year (YoY) while deal value slipped by 23% …

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• 15 November

  Cathay Pacific shuts US base, airline’s last overseas outpost

  

    Bloomberg Cathay Pacific Airways Ltd closed its last overseas outpost, bringing some US-based pilots back to Hong Kong as the airline trims expenses after being hit hard by the pandemic. Cathay’s US pilot bases shut on October 31 and some crew will relocate to Hong Kong in the coming weeks, according to an internal memo seen by Bloomberg News. …

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