November, 2021

• 21 November

  Oil posts 4th weekly drop as Covid-19 wave clouds market

  

  Bloomberg Oil logged its biggest weekly drop since August as Europe’s worsening Covid-19 crisis renewed the prospect of lockdowns just as key consuming nations look to add emergency supply to the market. West Texas Intermediate for January delivery tumbled 3.2%, while the expiring December contract lost 3.7%. Europe’s Brent skidded 2.9%. The wave of infections in Europe is growing, once ...

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• 21 November

  Global IPOs blow past $600b mark in best year on record

  

  Bloomberg Global initial public offerings (IPOs) have smashed their previous record this year, propelled by a blank-check boom and companies cashing in on high valuations. With six weeks to go, about 2,850 businesses and special purpose acquisition (SPAC) companies have raised more than $600 billion in IPOs, leaving the records for both deal count and proceeds reached in 2007 in ...

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• 20 November

  Walmart sinks as margins show pressure amid boom

  

  Bloomberg Walmart Inc fell the most in almost nine months after the retail giant signalled that it’s bracing for more pressure from global transportation snarls despite a broadly positive outlook. The company’s costs are rising more quickly than its prices, Chief Executive Officer Doug McMillon said after the company reported third-quarter earnings. Gross margin, a broad measure of profitability, fell ...

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• 20 November

  Boeing agrees to settle 737 Max claims, says SpiceJet

  

  Bloomberg Boeing Co has agreed to settle outstanding claims with SpiceJet Ltd relating to the grounding of its 737 Max aircraft and their return to service. “This paves the way for the induction of efficient and younger Max aircraft into the company’s fleet and ensures the resumption of new aircraft deliveries from our order of 155 Max aircraft,” India’s second-biggest ...

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• 20 November

  India’s IndiGo mulls charging fliers for checked-in luggage

  

  Bloomberg IndiGo, one of Asia’s biggest budget carriers, is mulling charging passengers for checked-in luggage as the airline prepares for a potentially fierce price war in India’s cutthroat air travel market, which is showing signs of recovery following the worst of Covid. IndiGo, operated by InterGlobe Aviation Ltd, didn’t implement the so-called unbundling of fares in February — just before ...

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• 20 November

  FAA’s 787 oversight needs watchdog review

  

  Bloomberg Leaders of the House Transportation and Infrastructure Committee have called for a review of how US aviation regulators oversaw Boeing Co’s troubled 787 program. A letter signed by the top Democrat and Republican on the committee was sent to the Transportation Department’s Inspector General, the committee announced. The 787 has been plagued by production issues for a year and ...

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• 20 November

  Home Depot jumps as sales rise on home-improvement

  

  Bloomberg Home Depot Inc surged the most since the early days of the pandemic after posting stronger-than-expected results, a sign that increased North American spending on home improvement continues to stretch through the pandemic. Comparable-store sales, a key metric for retailers, increased 6.1% in the third quarter, according to a statement. That’s well above the 1.5% average estimate of analysts ...

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• 20 November

  Google’s next trillion would come from search, AI: CEO

  

  Bloomberg While many other technology giants embrace the metaverse as the next frontier of growth, Sundar Pichai sees Google’s future in its oldest offering: internet search. “I feel fortunate our mission is timeless,” Pichai, who is chief executive officer of Google and its parent, Alphabet Inc, said in an interview with Bloomberg Television’s Emily Chang for the Bloomberg New Economy ...

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• 20 November

  Microsoft opens three Swedish data hubs using only green power

  

  Bloomberg Microsoft Corp has turned on a series of data centers at three sites in Sweden that run entirely on green energy through a partnership with state-owned utility Vattenfall AB. The Swedish computer halls, covering a total area of nearly 900 acres, are the latest in the company’s expansion to meet the huge appetite from businesses for secure cloud services. ...

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• 20 November

  Audi weighs tie-up with McLaren

  

  Bloomberg Audi is exploring deals with British sports car-maker McLaren Group as the German manufacturer looks for ways to enter Formula 1 racing and promote its electric-car technology. The manufacturer plans to study the financials of McLaren in the coming weeks to help decide on potential transactions, according to people familiar with the matter. Volkswagen AG’s premium brand previously floated ...

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