November, 2020

• 18 November

  Carlyle weighs plans to sale Dutch retailer

  Bloomberg Carlyle Group Inc is weighing new plans to sell Hunkemoller, the Dutch swimwear retailer, according to people familiar with the matter. The US private equity firm is working with investment bank JPMorgan Chase & Co on a potential sale of the business next year, the people said, asking not to be identified discussing confidential information. No final decisions have …

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• 18 November

  Global stock rally pauses after vaccine optimism

  

  Bloomberg A global stock rally powered by hopes that new Covid-19 vaccines will bolster economic growth paused on Tuesday as investors weighed the near-term spread of the virus. The Stoxx Europe 600 Index fluctuated at the open, while S&P 500 futures retreated a day after the underlying benchmark closed at an all-time high on news that Moderna Inc’s vaccine was …

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• 18 November

  India stocks rise as Covid vaccine news fuels optimism

  

  Bloomberg Indian stocks rose as favourable initial results for a second Covid-19 vaccine fanned optimism of an exit from the pandemic. The S&P BSE Sensex climbed 0.7% to 43,959.75 in Mumbai, while the NSE Nifty 50 Index advanced by the same magnitude. Both gauges extended gains from all-time high closing levels. Strategists at brokerages including Goldman Sachs, Morgan Stanley, and …

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• 18 November

  Nikkei 225 to add another 15% before 2022

  Bloomberg Japan’s Nikkei 225 Stock Average may surpass 30,000 yen by the end of next year as corporate earnings improve amid an easy monetary policy and overseas demand for equities, according to a strategist at Daiwa Securities Co. Companies will post profits in fiscal 2021 as people and companies adapt to life with coronavirus, vaccines are developed and economic activity …

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• 17 November

  UAE, Saudi to bolster nuclear collaboration

  

  ABU DHABI / WAM The Federal Authority for Nuclear Regulation (FANR), of the UAE and the Nuclear and Radiological Regulatory Commission (NRRC), of Saudi Arabia convened a meeting to explore and strengthen mutual collaboration. Both parties discussed potential cooperation in regulatory aspects related to nuclear safety, nuclear security, nonproliferation, legal and regulatory framework, emergency preparedness and response. The meeting was …

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• 17 November

  Oil rises on vaccine hopes, China demand recovery

  

  Bloomberg Oil rose in New York as Moderna Inc reported its Covid-19 vaccine is highly effective against the virus. Moderna’s shot had 94.5% efficacy in a preliminary analysis of a large, late-stage clinical trial. That followed similar positive news for a vaccination being developed by Pfizer Inc. last week, buoying risky assets globally. The full impact of a vaccine on …

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• 16 November

  Korean Air aims for world ranking with Asiana deal

  

  Bloomberg South Korea’s two biggest airlines plan to merge, with Korean Air Lines Co acquiring Asiana Airlines Inc for 1.8 trillion won ($1.6 billion) following an injection via its parent, Hanjin Kal Corp. The main goal of the acquisition is to stabilise South Korea’s aviation industry amid the coronavirus pandemic and improve its competitiveness, said Hanjin Group, which operates airlines …

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• 16 November

  Reliance Retail acquires Urban Ladder for $24m

  

  Bloomberg Reliance Retail Ventures Ltd acquired a 96% stake in Urban Ladder, an online furniture seller for 1.82 billion rupees ($24.4 million), expanding the company’s reach in the world’s second-most populous nation. The unit of Reliance Industries Ltd plans to invest a further 750 million rupees in the next three years, it said in a statement. It also said it …

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• 16 November

  Philippine mall titan quickens shift to China-style mixed retail

  

  Bloomberg SM Investments Corp, the owner of the Philippines’ largest mall operator, is speeding up efforts to develop “omni-channel” options for shoppers as people shift to a mix of online and in-store purchases amid the coronavirus pandemic. The group is tapping personal shoppers, ramping up delivery and pick-up services, and boosting its online presence, said Steven Tan, president of SM …

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• 16 November

  Walmart to sell most of Japan’s Seiyu to Rakuten, KKR

  

  Bloomberg Walmart Inc is selling most of Japanese retailer Seiyu to KKR & Co and Rakuten Inc in a deal that values the supermarket chain at 172.5 billion yen ($1.6 billion), as the US giant retreats from its two-decade attempt to crack Japan’s retail market. Under the agreement, private equity fund KKR will become the majority owner with a 65% …

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