November, 2021

• 2 November

  Japan’s opposition leader to quit after election setback

  

  Bloomberg The leader of Japan’s main opposition party will step down from his post after his group suffered a stinging setback in a national election on Sunday. Yukio Edano said in a statement on Tuesday he will resign as leader of the Constitutional Democratic Party, the left-leaning party he’s run since its formation in 2017. He added he would stay ...

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• 2 November

  Biden calls methane reduction vital to curbing climate change

  

  Bloomberg The Biden administration launched an assault on methane on Tuesday, advancing initiatives across government — and the globe — to keep the potent heat-trapping gas from escaping landfills, oil wells and farms. The new measures seek to deploy at least five cabinet-level agencies. For instance, the Environmental Protection Agency released a long-awaited proposal stiffening requirements to plug leaks in ...

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• 2 November

  Almost half of UK companies expect to raise prices: Lloyds

  

  Bloomberg Almost half of UK companies expect to increase prices, a record high, adding to inflation concerns that will weigh on Bank of England policy makers ahead of their meeting this week. A survey by Lloyds Banking Group Plc showed 45% of businesses expect to raise prices, which will buttress market expectations that the UK central bank will deliver its ...

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• 2 November

  Mexican economy drops in Q3 in blow to recovery

  

  Bloomberg Mexico’s economy shrank in the third quarter after new legislation banning labour outsourcing hit the services industry and coronavirus cases surged. Gross domestic product declined 0.2% from the previous three-month period, compared to the median estimate in a Bloomberg survey of no growth. It’s the first contraction since the second quarter of 2020, when Mexico imposed its harshest set ...

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• 2 November

  Rivian lures Blackstone, Coatue to IPO of $8.4bn

  Bloomberg Rivian Automotive Inc., the electric truck maker backed by Amazon.com Inc., is seeking to raise as much as $8.4 billion in an initial public offering that could give it a market value of as much as $53 billion. Rivian said it plans to sell 135 million shares for $57 to $62 each, according to a filing Monday with the ...

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• 2 November

  Italy’s factories outperform most European peers on supply shock

  

  Bloomberg Italy’s manufacturing sector saw more rapid expansion last month, bucking the general weakening trend in the region as Prime Minister Mario Draghi tries to spur growth in the euro area’s third-largest economy. The Netherlands, Ireland and Greece also recorded stronger performances in surveys of purchasing managers by IHS Markit. With Germany, France and Spain lagging behind, momentum in the ...

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• 2 November

  Germany cuts 2021 growth forecast

  Bloomberg Germany expects growth this year to be significantly weaker than predicted, as the lingering effects of the pandemic and a supply squeeze hinder a revival of Europe’s biggest economy. The cut in the 2021 outlook to 2.6% — compared with a prediction of 3.5% published at the end of April — reflects a scarcity in some raw materials and ...

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• 2 November

  Sinking steel demand shows cracks in robust US market

  

  Bloomberg The record steel rally is starting to show early signs of cooling, with one top US producer scouring for buyers to take over abandoned orders of high-end metal used by automakers. US Steel Corp is offering metal originally earmarked for automotive customers who opted not to take up their full orders, an indication that an ongoing semiconductor shortage is ...

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• 2 November

  Equity bulls pause as Fed, economy risks dominate

  

  Bloomberg European stocks fall and US index futures were mixed as an earnings-driven rally stalled amid a deepening supply crunch and coronavirus curbs in China. The Treasury yield curve steepened before the Federal Reserve’s policy meeting. December contracts on the Dow Jones Industrial Average slipped after the underlying gauge surged past the 36,000 mark. Russell 2000 contracts rose. The yield ...

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• 2 November

  ETP fund flows hit $1trn record as global assets rally

  

  Bloomberg In a year already packed with superlatives, the fund industry has a new milestone to celebrate. Inflows into exchange-traded products (ETFs) across the world have just surpassed $1 trillion in 2021, according to data compiled by Bloomberg. The $3.9 billion added by investors in the latest data carried the sum past the magic mark. Even with two months left ...

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