September, 2020

• 21 September

  Walmart aims to end emissions by 2040

  Bloomberg Walmart Inc said it’s targeting zero emissions from its global operations by 2040, a small fraction of its total, in the latest climate-focussed step amid heightened calls from investors and activists to reduce carbon footprints. The world’s biggest retailer also plans to secure enough wind, solar and other renewable energy sources to power its facilities with 100% green power …

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• 21 September

  European stocks fall most since July; US futures slide

  

  Bloomberg European stocks fall the most since July after a report on bank allegations and signs that London is heading for a second lockdown. US equity futures sank and Treasuries rise. Airlines and travel companies led losses in the Europe Stoxx 600 Index. With virus cases climbing across Europe, there’s growing speculation that officials will be forced to apply tougher …

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• 21 September

  HSBC shares drop to 25-year low on report of China ‘unreliable list’

  

  Bloomberg HSBC Holdings Plc slumped below its financial crisis low set more than a decade ago as pressures mount on several fronts, including a potential threat to its China expansion plans and increased scrutiny of money laundering controls. The London-based bank’s Hong Kong shares on Monday slid below their closing low for March 2009, hitting as low as HK$29.60. They …

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• 20 September

  UAE upholds multilateralism, outlines priorities for UN75

  

  NEW YORK / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, will lead the UAE’s delegation to the 75th session of the UN General Assembly and will virtually address the body on September 29 during the General Debate. During the high-level week, the UAE delegation will be engaging with other member states, UN …

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• 20 September

  Saudi companies begin talks to form $11bn chemicals maker

  

  Bloomberg Saudi Industrial Investment Group and National Petrochemical Co. started talks to merge, potentially creating a firm with $11 billion in assets as Middle Eastern energy companies assess their options in a lower oil-price environment. The talks are at an initial stage, and no agreement has been reached, the companies said on Sunday. Saudi Industrial owns 50 percent of National …

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• 20 September

  TikTok owner seeking $60b valuation in US deal

  

  Bloomberg China’s ByteDance Ltd. is seeking a valuation of $60 billion for TikTok as Oracle Corp. and Walmart Inc. take stakes in the short-video app’s business to address US security concerns, according to a person familiar with the matter. Oracle and Walmart have rights to buy 12.5% and 7.5% respectively of a newly established TikTok Global under an agreement that …

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• 20 September

  Pemex expects drop in oil exports over next three years

  

  Bloomberg Petroleos Mexicanos expects a drastic drop in oil exports over the next three years as the company faces the twin challenges of declining output and supplying crude to a controversial new $8 billion refinery championed by the country’s President Andres Manuel Lopez Obrador. Pemex, as the state oil company is also called, is forecasting a reduction of almost 70% …

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• 20 September

  IPO frenzy nets billions for venture capital backers

  

  Bloomberg Billions of dollars could be on the way to Sand Hill Road this week, home base for Silicon Valley’s venture capital elite, after a string of initial public offerings. Venture firms netted handsome returns on paper for their early investments. While the firms mostly won’t be able to sell their shares until lockup periods expire, proceeds from exits could …

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• 20 September

  Europe’s stuck-in-a-rut stock market may stay there throughout year

  

  Bloomberg The consensus among equity strategists is that the European market is going nowhere for the rest of the year after their brisk rebound in the first half of 2020, although predictions range from Deutsche Bank AG calling for an 18% gain to Commerzbank AG’s forecast of an 11% slide. The Stoxx Europe 600 Index will end 2020 at a …

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• 19 September

  Oil posts best week since June as Saudis defend market recovery

  

  Bloomberg Saudi Arabia’s warning to Opec+ cheaters and short-sellers alike helped oil prices stage their biggest weekly rally since June, despite a grim start to the week as industry heavyweights painted a troubling demand picture for the petroleum complex. Futures in New York rise 10% this week following a show of determination by Saudi Arabia, the most influential nation in …

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