November, 2020

• 26 November

  Global stock rally pauses before key economic data

  

  Bloomberg Global stocks paused amid their best monthly gains in three decades as investors awaited a slew of economic indicators that could support the rally in risk assets. The Stoxx Europe 600 Index drifted at the open, as cyclicals such as mining and energy firms fell, offsetting advances in defensives including utility shares. Bank stocks edged higher following a report …

  Read More »
• 26 November

  India set for new highs as global equities rally

  

  Bloomberg India’s equity benchmark retreated from a record as an early rally in Asian equities faltered. The S&P BSE Sensex lost 0.6% to 44,268.87 in Mumbai, while the NSE Nifty 50 Index declined by the same magnitude. Both slipped from all-time highs, as did the region-wide MSCI AC Asia Pacific Index, which was little changed. “These levels could prove to …

  Read More »
• 26 November

  China stocks retreat most in 3 weeks on liquidity jitters

  Bloomberg China stocks fell by the most this month on concern that liquidity conditions in the financial system are not strong enough to support recent gains. The CSI 300 Index lost 1.3% just two sessions after closing at its highest level in five years. The liquidity-sensitive ChiNext Index retreated 2.2% to its lowest since October 23. Investors have been worried …

  Read More »
• 25 November

  Oil hits highest since March on Biden transition, vaccine hopes

  

  Bloomberg Oil reached its highest level since March as the start of the US presidential transition process buoyed broader markets and a string of positive Covid-19 vaccine news continued to support the demand outlook. Futures rose to their highest since March in New York, alongside the back-end of the forward curve strengthening markedly into backwardation. The structures of both WTI …

  Read More »
• 25 November

  China may have to delay national carbon market debut to 2021

  

  Bloomberg China may delay the launch of its national carbon market for power companies to the first half of 2021, according to a researcher who helped the government design the emissions trading system. Actual trading of emission allowances will likely begin next year, Zhang Xiliang, director of Tsinghua University’s Institute of Energy, Environment and Economy, said at the International Finance …

  Read More »
• 25 November

  UK renewable power set for $27bn boost

  

  Bloomberg The UK government plans to double the amount of renewable power supported by the country’s main subsidy mechanism and create a new structure that will bolster a variety of technologies, speeding up a wave of new investment. The next round of the contracts for difference system will clear the way for as much as 12 gigawatts of new green …

  Read More »
• 25 November

  Vestas Wind turbine collapses in northern Sweden

  

  Bloomberg A 230-metre tall wind turbine built by Vestas Wind Systems A/S collapsed at a site in northern Sweden over the weekend. The cause of the accident is unknown and the company is assembling a team that will investigate at the site, spokesman Anders Riis said by phone. A lot of snow is expected this week, which may delay the …

  Read More »
• 25 November

  Covid passports key to resuming global travel

  

  Bloomberg Global airline lobby IATA is working on a mobile app that will help travellers demonstrate their coronavirus-free status, joining a push to introduce so-called Covid passports to speed up the revival of international travel. The Travel Pass will display test results together with proof of inoculation, as well as listing national entry rules and details on the nearest labs, …

  Read More »
• 25 November

  JD’s logistics unit considering IPO at $40 billion valuation

  

  Bloomberg JD.com Inc’s logistics unit is considering an initial public offering (IPO) that could raise at least $5 billion, according to a person familiar with the matter. JD Logistics is targeting a valuation of about $40 billion, the person said, asking not to be identified as the information is not public. The company is leaning towards choosing Hong Kong as …

  Read More »
• 25 November

  Amazon workers to form union in Alabama

  

  Bloomberg Amazon.com Inc warehouse workers in Alabama filed a petition with the US National Labor Relations Board to form a union, the latest sign of strife between the online retailer and its large blue-collar workforce. The federal agency posted a notice for a hearing to determine if the petition meets the criteria to advance to the next step. With enough …

  Read More »