November, 2021

• 14 November

  Top Brazil investors shun local assets as recession threat looms

  

  Bloomberg Brazil’s largest independent hedge funds have grown wary of local assets after the nation moved to ease its fiscal rules, fuelling fears of a sharp increase in interest rates and a potential recession ahead. Firms including Itau Unibanco now predict Brazil’s economy will contract next year after policy makers raise the benchmark rate to over 11%, the highest since ...

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• 14 November

  Blackstone boosts Carrix stake

  Bloomberg Blackstone Infrastructure Partners bought out the controlling shareholders of Carrix Inc., one of the world’s largest marine-terminal operators. The families had been weighing a sale of their holding in the Seattle-based firm, Bloomberg reported in June. The stake was expected to fetch $2.5 billion. “The Smith/Hemingway family sold its shares to Blackstone Infrastructure Partners,” Bob Watters, a Carrix spokesman, ...

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• 14 November

  Euro area inflation diverging the most since debt crisis

  

  Bloomberg Inflation is soaring across the euro area, but it’s also diverging by the most in years in a further complication for the European Central Bank’s ongoing Covid-19 pandemic stimulus. How quickly consumer prices are rising depends on where you are inside the 19-member currency bloc. In Estonia, where energy costs are surging, the 2021 rate is forecast to be ...

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• 14 November

  Rise of the robots speeds up in pandemic with US labour scarce

  

  Bloomberg American workers are hoping that the tight pandemic labour market will translate into better pay. It might just mean robots take their jobs instead. Labour shortages and rising wages are pushing US business to invest in automation. A recent Federal Reserve survey of chief financial officers found that at firms with difficulty hiring, one-third are implementing or exploring automation ...

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• 14 November

  Southeast Asia’s digital economy set to double to $363bn by 2025

  

  Bloomberg Southeast Asia’s booming internet economy is set to double to $363 billion by 2025, eclipsing the previous forecast of $300 billion, research from Google, Temasek Holdings Pte and Bain & Co. shows. E-commerce, travel, media, transport and food are driving the region’s digital growth, with online spending rising 49% in 2021 to $174 billion, the companies said in their ...

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• 14 November

  Sweden’s Spotify acquires audiobook firm Findaway

  

  Bloomberg Spotify Technology SA agreed to acquire Findaway, an audiobook company that gives the Swedish streaming giant additional products to market alongside music and podcasts. Findaway is a distributor for many audiobook services, publishers and authors, and will continue to serve them after the deal closes, the companies said. The purchase marks Spotify’s most significant investment in audiobooks, and is ...

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• 13 November

  Nissan raises profit outlook despite parts shortages

  Bloomberg Nissan Motor Co raised its annual operating profit outlook, a promising sign the automaker is still on track to climb out of the red this year despite parts shortages that have hammered production. The Japanese carmaker raised its forecast to an operating profit of $1.6 billion for the fiscal year through March, from 150 billion yen announced in July. ...

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• 13 November

  Meta to remove ad-targeting options linked to race, religion

  

  Bloomberg Facebook parent Meta Platforms Inc will remove thousands of ad-targeting categories that helped marketers reach users of a particular race, ethnicity and religion — categories the social network says “may be perceived as sensitive.” Meta’s Facebook and Instagram don’t ask users to share their race or religion, and don’t allow marketers to target consumers based on those topics. But ...

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• 11 November

  ‘Bike City’ label to Abu Dhabi is a new global recognition

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has said that the capital, Abu Dhabi – being awarded the ‘Bike City’ label – is a new global recognition added to the UAE’s sporting achievements in various fields. While expressing his happiness with ...

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• 11 November

  Taqa reports AED4.3bn net income in 9 months of 2021

  

  ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) reported consolidated pro-forma financial results for the period ended September 30, announcing group revenues of AED34.3 billion, 11% higher than the prior-year period, primarily due to higher commodity prices within the oil and gas segment. Taqa also announced that earnings before interest, taxes, depreciation, and amortisation (Ebitda) reached AED14.4 billion, ...

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