December, 2020

• 1 December

  Johnson battles to win over UK Conservatives

  

  Bloomberg Boris Johnson is battling to convince his own Conservative Party colleagues to back plans to keep most of England under strict pandemic controls when the national lockdown ends this week. Ministers on Monday were expected to publish analysis of the health, economic and social impacts of the pandemic and the measures taken to suppress the disease, before a scheduled ...

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• 1 December

  Apple suppliers’ China exodus not to slow down under Biden

  

  Bloomberg The splintering of the global tech supply chain that began during President Donald Trump’s watch looks set to persist under his successor. Apple Inc, the largest of the many tech giants that rely on Chinese factories to make their gadgets, will move some production of its iPads and MacBooks to Vietnam. Key assembly partner Hon Hai Precision Industry Co, ...

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• 1 December

  HSBC contemplates complete exit from US retail banking

  

  Bloomberg HSBC Holdings Plc is considering offloading its struggling retail network in the US, a market the British bank has called one of its biggest strategic challenges. The bank’s management is looking at a complete withdrawal from its retail operations in the country, although a full exit from other businesses in the US is unlikely, according to a person familiar ...

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• 1 December

  UK bans installation of Huawei 5G equipment from September

  

  Bloomberg The UK will ban the installation of 5G equipment from China’s Huawei Technologies Co by the end of next September. The restriction is part of an “initial” 250 million-pound ($333 million) package of measures brought in to diversify Britain’s wireless supply chain announced by the Department for Digital, Culture, Media and Sport. The stricter rules may also help fend ...

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• 1 December

  Italy approves $9.6b new stimulus package

  Bloomberg Italy’s government has approved a fourth stimulus package to support businesses hit by the latest restrictions to stem the spread of the coronavirus. The package is worth 8 billion euros ($9.6 billion), according to a statement published on Monday. It delays tax deadlines for companies and expands cash handouts for workers in tourism and the arts, which have been ...

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• 1 December

  Cyber Monday projected to hit pandemic-fuelled $12.7b

  

  Bloomberg Online shoppers in the US are expected to drop a record-busting $12.7 billion on Cyber Monday — the busiest e-commerce day of the year — presenting a valuable opportunity for retailers whose websites, customer service departments and delivery operations can withstand the period of crushing traffic. Amazon.com Inc, Walmart Inc, Target Corp, Best Buy Co and others have been ...

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• 1 December

  Stocks slip after record rally; oil extends retreat

  

  Bloomberg US futures slipped and European stocks steadied on the last day of the month after record-breaking rally in global equity markets. Oil extended a retreat on signs of discord among Opec+ ministers. The rotation that sent stocks to all-time highs showed signs of a slight reversal, with technology companies holding firm, while small-caps, banks and energy producers were broadly ...

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• 1 December

  South African stocks fall, paring best Nov gains since 2001

  

  Bloomberg South Africa’s main stock benchmark index dropped for a second day, down 1.1% by 9:42 am in Johannesburg, the biggest intraday decline in more than a week, as market giant Naspers Ltd joined diversified miners and banks in pulling the main gauge lower. Risk-off sentiment was evident in early trade, with 91 of the 141 listed companies declining, while ...

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November, 2020

• 30 November

  Iraqi minister denies seeking exemption from Opec+ oil cuts

  

  Bloomberg Iraq hasn’t asked for an exemption from Opec+ limits on the country’s oil output for fear that an increase in production might cause crude prices to fall, Oil Minister Ihsan Abdul Jabbar said, according to state-run newspaper Al-Sabah. The results of the Opec+ coalition’s output-cuts deal have been positive and stabilising for the oil market, given the impact the ...

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• 30 November

  ADFD allocates $70m for Albania housing project

  

  Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) has approved a grant of AED257 million ($70 million) provided by the UAE government to fund the development of more than 2,000 residential housing units that is part of the urban redevelopment of one Albania’s leading economic centres that sustained major damage from recent earthquakes. This grant supporting the Albanian ...

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