December, 2020

• 29 December

  Goldman invests in Echelon in bet on at-home fitness amid Covid

  

  Bloomberg Goldman Sachs Group Inc. is leading a $65 million financing in Echelon Fitness, giving the bank and another investor a controlling stake in a maker of exercise machines as more people work out at home amid the pandemic. The Chattanooga, Tennessee-based company competes with Peloton Interactive Inc., Lululemon Athletica Inc.’s Mirror, Tonal, Tempo, Icon’s NordicTrack, Hydrow and other connected ...

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• 29 December

  Wells Fargo to sell student loan book to Apollo, Blackstone

  

  Bloomberg Wells Fargo & Co. agreed to sell its $10 billion private student loan book to a group including Apollo Global Management Inc. and Blackstone Group Inc., according to reports. Wells Fargo said in a statement that it had agreed to the sale, without identifying the investors or disclosing terms. Apollo and Blackstone were the purchasers, the people said, asking ...

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• 29 December

  Polish central bank moves to weaken zloty amid virus

  

  Bloomberg Poland’s central bank moved to weaken the zloty for the first time in a decade, delivering on a warning that it won’t tolerate a stronger currency as the economy tries to recover from the Covid-19 pandemic. Sales by the bank helped push the zloty down by as much as 1.7% against the euro in low-volume trading, according to two ...

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• 29 December

  Bitcoin faces regulatory scrutiny after record-breaking rally

  

  Bloomberg It’s been a tough year by all accounts. But for Bitcoin, 2020 has been a marvelous time. The cryptocurrency almost quadrupled, surpassing $20,000 for the first time as it notched record after record. The diehards cheered it as an inflation hedge in an era of unprecedented central bank largesse. Wall Street veterans from Paul Tudor Jones to Stanley Druckenmiller ...

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• 29 December

  Global stocks head for fresh record on US virus relief bill

  

  Bloomberg Stocks rise with a the global gauge heading for records as a wave of stimulus optimism buoyed equities from Germany to Japan. The dollar slipped with Treasuries. European equities rise 1% with every industry subsector except banks and energy firms in the green. US futures climbed and the MSCI ACWI Index touched its highest level after US lawmakers backed ...

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• 29 December

  Indian stocks track Asian peers higher

  

  Bloomberg India stocks rise for a fifth straight day, tracking broad gains in Asian peers, as a slowing pace of local coronavirus infections boosted optimism over an economic recovery. The S&P BSE Sensex climbed 0.6% to 47,648.24 as of 9:57 am in Mumbai. The NSE Nifty 50 Index advanced by the same magnitude. Both indexes are set to extend record ...

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• 29 December

  FTSE 100 up on Brexit deal

  Bloomberg UK blue-chip stocks soared on Tuesday, leading European country indexes, in the British market’s first trading session since a Brexit deal was struck with the European Union. The FTSE 100 Index jumped 1.6%, with stocks most exposed to the British economy, like homebuilders and travel stocks, pushing the advance. EU ambassadors have given the green light to the draft ...

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• 29 December

  UAE ministry develops national system for PPE manufacturing

  

  ABU DHABI / WAM The Ministry of Industry and Advanced Technology (MoIAT) developed a National System for Personal Protective Equipment (PPE) in collaboration with its government and private-sector partners. The first-of-its kind initiative in the Middle East and North Africa (Mena) region, the system outlines a set of technical specifications for the manufacture of face masks, protective and medical gloves, ...

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• 29 December

  Oil climbs on US stimulus, Covid-19 vaccine optimism

  

  Bloomberg Oil climbed as the UK is poised to grant regulatory approval to another Covid-19 vaccine and as the US passed its stimulus bill into law. Futures in New York are trading 1.2% higher after dipping in early trading. Britain’s drug regulator could clear the shot produced by AstraZeneca Plc and the University of Oxford for use as early as ...

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• 29 December

  ADX lists ‘EasyLease’ on its Second Market

  

  ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) announced that EasyLease has listed its shares on ADX Second Market, under the ticker symbol EasyLease, and trading began on the shares on Sunday. The company’s nominal value of share capital is AED30 million, with 30 million shares and each share having a nominal value of AED1. This listing brings number ...

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