November, 2020

• 8 November

  Berkshire buys back $9bn more of stock in record year

  

  Bloomberg Warren Buffett has gone from a stock-buyback skeptic to one of the world’s biggest repurchasers as his own firm becomes his favourite investment in the pandemic. The famed investor’s Berkshire Hathaway Inc. spent the third quarter buying back about $9 billion of its own stock, more than it had repurchased in any full year in its history. The buying …

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• 8 November

  Stocks show Jerome Powell is still Wall Street’s head of state

  

  Bloomberg Hopes for a fat new package of government spending to plump the American economy looked to be a casualty of the election, with odds pointing to divided government. That left Jerome Powell the once and future king of markets, a regime stock investors are showing they can live with. To say bulls shook off disappointment over stimulus is an …

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• 8 November

  UAE believes in tolerance, openness and coexistence with all peoples

  New York / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has said that the UAE believes in tolerance, openness and coexistence with all peoples, highlighting that the model that the UAE adopts in terms of human diversity is similar to that of the United Nations, where the …

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• 8 November

  Libya’s oil output passes million-barrel milestone

  

  Bloomberg Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African nation after its civil war all but shut down the energy industry at the start of the year. The Opec member, which owns Africa’s largest crude reserves, has been ramping up production since a truce took hold last month between rival …

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• 7 November

  Goldman Sachs moving up to $60bn of assets to Germany

  

  Bloomberg Goldman Sachs Group Inc. is shifting as much as $60 billion of assets from the UK to Frankfurt, the latest sign that banks are beefing up their European Union (EU) operations ahead of Brexit. The Wall Street bank plans to move between $40 billion to $60 billion to its German subsidiary by the end of the year, according to …

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• 7 November

  Malaysia holds key rate at record low

  

  Bloomberg Malaysia’s central bank held its benchmark interest rate at a record low, while warning of downside risks from the pandemic that threaten economy’s recovery. Bank Negara Malaysia held its overnight policy rate at 1.75% at its final scheduled meeting of the year, as expected by 17 of 22 economists surveyed by Bloomberg. The rest predicted a 25-basis point cut. …

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• 7 November

  Novelli expects more volatility on virus setbacks

  Bloomberg Negative surprises on Covid-19 crisis may fuel further market volatility in Europe, including potential corporate defaults next year, according to Piero Noelli, co-head of UBS Group AG’s investment bank. Lockdowns in Europe and restrictions on mobility will cause a double dip in growth in the fourth quarter, he said in an interview with Bloomberg TV’s Francine Lacqua. Setbacks on …

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• 7 November

  Apple all set to launch MacBooks with own chips

  

  Bloomberg Apple Inc’s 15-year relationship with Intel Corp will officially begin to unwind next week when new Mac computers are revealed. The Cupertino, California-based technology giant said that it will hold an online event dubbed “One more thing” on November 10. That “thing” will be Macs with main processors designed by Apple for the first time, replacing Intel chips that …

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• 7 November

  Germany probes Amazon, Apple over ‘online sales’

  

  Bloomberg Amazon.com and Apple face German antitrust scrutiny over a policy that excludes independent sellers of brand products on the online market place. Germany’s Federal Cartel Office, the country’s antitrust regulator, is probing both companies over a policy at Amazon called “brandgating,” the authority said in an emailed statement. The policy allows makers of branded products such as iPhones to …

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• 7 November

  Waymo begins fully driverless rides for Arizona customers

  

  Bloomberg Waymo said that it is opening its fully driverless ride-hailing service in suburban Phoenix to the public. Alphabet Inc’s self-driving car unit began ferrying a select group of a few hundred customers, known as “early riders,” in vehicles without safety drivers in the summer of 2019. After receiving feedback from those riders, who were bound by non-disclosure agreements not …

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