November, 2018

• 26 November

  LNG import boom no relief for Australian gas prices

  

  Bloomberg Plans in Australia to import gas to ease a supply squeeze may fail to bring down domestic prices as it pits the nation against some of the world’s biggest buyers for supplies. Australia finds itself in the odd position of having to consider four projects to import liquefied natural gas (LNG) while simultaneously being on track to become the …

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• 26 November

  Brazil’s Bolsonaro seeks $30bn oil boon

  

  Bloomberg President-elect Jair Bolsonaro is pursuing the sale of Brazil’s deep-sea treasure-trove of oil, but just weeks after his election he’s facing the same political obstacles as his two predecessors. While Bolsonaro’s transition team argues the sale could net some $30 billion to help plug fiscal deficits, a squabble over how to divvy up the spoils between various states and …

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• 26 November

  UK weighs hydrogen as ‘green form of heat’

  Bloomberg An influential panel of lawmakers in UK parliament is encouraging the government to develop hydrogen as a way to provide a green form of heat for industry and homes. The Committee on Climate Change, which advises the government on energy and environmental policies, said ministers should write a strategy for removing carbon emissions from heat in the next three …

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• 26 November

  Oil rises from one-year low

  Bloomberg Oil rose from its lowest settlement in more than a year in New York. Futures added 1.7 percent, after slumping 7.7 percent. Saudi Arabia is pumping as much as 11.2 million barrels of crude a day, the most since the kingdom extracted its first oil eight decades ago, according to a person familiar with the matter. Theb West Texas …

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• 26 November

  Western Canadians slam lack of oil aid in budget

  Bloomberg Justin Trudeau’s federal budget update stirred some anger in Canada’s oil-rich West. Alberta’s Finance Minister Joe Ceci, while welcoming corporate tax breaks announced, said he was disappointed that the urgent need to ease a dramatic crude-shipping glut and price crash wasn’t addressed. The tax changes that will allow businesses to write off capital investments more quickly will help oil …

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• 26 November

  Brexit makes London property market outlook hard to read

  

  Bloomberg London’s biggest office landlords face an unprecedented situation: a political fork in the road that could send the real estate market in polar opposite directions. Developers such as Land Securities Group Plc, British Land Co and Great Portland Estates Plc bet on the way the market will look years in the future when they green light plans to buy …

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• 26 November

  Tech leads stock rebound; Treasuries decline, oil soars

  

  Bloomberg Beaten-down tech shares led the rebound in US stocks, while Treasuries fell as investors gained confidence from positive political developments in Europe and rising oil prices. The S&P 500 Index rallied back from its worst week in a month amid signs of progress in two standoffs that have continually rattled markets — Italy’s fiscal woes and Brexit. The 10-year …

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• 26 November

  Bitcoin miners seen shutting down as losses pile up

  

  Bloomberg Bitcoin miners hit hard by the cryptocurrency’s crash may be throwing in the towel. The Bitcoin network’s hash rate, one way of gauging the computing power dedicated to mining the digital currency, dropped about 24 percent from an all-time high at the end of August through November 24, according to Blockchain.com. While the decline may have partially resulted from …

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• 26 November

  Greece’s Eurobank attempts revival in $8bn bad-loan sale

  

  Bloomberg Greece’s Eurobank Ergasias SA isn’t waiting around for a state rescue, with a plan to sell about 7 billion euros ($8 billion) of troubled loans and merge with a real estate fund. The shares soared, leading the country’s banking index higher. As part of the plan, the bank will merge with real estate fund Grivalia Properties REIC to create …

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• 26 November

  QE end isn’t reduction of stimulus: ECB’s Praet

  

  Bloomberg European Central Bank (ECB) chief economist Peter Praet said the end of the institution’s bond-buying program — quantitative easing (QE) — this year doesn’t mean policy is being tightened, as he pointed to “increasingly noticeable” headwinds for the economy. The message comes as the Governing Council prepares for its December 13 meeting, when it will publish new economic forecasts …

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