November, 2020

• 25 November

  Tigray youth group behind massacre of 600 people: Ethiopia

  

  Bloomberg An informal militia made up of Tigrayan youths killed at least 600 Ethiopian civilians identified as belonging to other ethnic groups on November 9, according to a state-run human rights body. The massacre occurred less than a week after a conflict started between federal forces and Tigrayan soldiers in the northern Ethiopian region. The youths, known as Samri, and ...

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• 25 November

  Storm Nivar may cause extensive damage in India

  

  Bloomberg Storm Nivar over the Bay of Bengal is likely to turn into a “very severe cyclone” by Wednesday and may cause widespread damage to crops, mud houses and electricity poles in some southern Indian states. The storm will have a sustained wind speed of 120 to 130 kilometres (75-81 miles) per hour, according to the India Meteorological Department (IMD). ...

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• 25 November

  ‘Missing’ leader sparks deja vu in Algeria

  

  Bloomberg Algeria’s 75-year-old leader flew to Germany last month for treatment after catching Covid-19. He hasn’t been seen in public since and barely a word on his condition reaches home. The prolonged absence of President Abdelmadjid Tebboune is now the hot topic of political debate, supplanting a vote on constitutional reform and the rumblings of war near the country’s western ...

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• 25 November

  HK campus rocked by protest becomes ‘prison’ a year later

  

  Bloomberg One year ago, Hong Kong Polytechnic University (PolyU) was in flames. Police and student protesters faced off at the campus — one of Hong Kong’s best-known — in a chaotic 16-day siege last November that became a symbol of the battle between the city’s China-backed administration and anti-government protesters. Today, what had once been a bustling, freely accessible campus ...

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• 25 November

  Credit Agricole offers $875m for Italy’s Credito Valtellinese

  

  Bloomberg French lender Credit Agricole SA offered to buy Italy’s Credito Valtellinese for about 737 million euros ($875 million) in cash as consolidation accelerates in European banking. The unsolicited bid of 10.50 euros a share, made through its Italian unit, represents a 21.4% premium to the November 20 closing price, according to a statement from Credit Agricole. The French lender, ...

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• 25 November

  Biden picks Yellen for Treasury secretary

  

  Bloomberg President-elect Joe Biden plans to nominate former Federal Reserve Chair Janet Yellen to serve as his Treasury secretary, people familiar with the matter said, choosing the first woman and a seasoned central banker for the nation’s top economic policy job as the coronavirus pandemic threatens another US downturn. In Yellen, Biden is likely to find support from both Wall ...

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• 25 November

  Goldman to start Paris trading venue as Brexit approaches

  

  Bloomberg Goldman Sachs Group Inc is planning a European stock trading platform to ensure its clients can still buy and sell shares even without a post-Brexit agreement to allow dealing in London. The Wall Street bank has applied to French regulators to start a Paris-based trading venue called SIGMA X Europe, according to the company. It intends to open before ...

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• 25 November

  ECB sees hard choices on end of pandemic aid

  

  Bloomberg Governments and central banks face a tricky balance between shocking the economy if they end pandemic support too soon, and undermining it if they keep measures in place too long, according to a European Central Bank (ECB) report. Noting the sheer scale of the fiscal, monetary and regulatory support, it said the effort has been “vital” in helping companies ...

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• 25 November

  Credit Suisse to take $450m charge on hedge fund York

  

  Bloomberg Credit Suisse Group AG expects to book a $450 million impairment on its stake in York Capital Management as the US firm winds down most of its hedge-fund strategies, the latest blow for the bank after a series of setbacks this year. The charge, which could still change, will be booked in the fourth quarter in the asset management ...

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• 25 November

  Nigeria top bank wants to double its clients

  Bloomberg Access Bank Plc, Nigeria’s biggest lender, plans to more than double customer numbers over the next three years by expanding in the rest of Africa. The Lagos-based lender is creating a holding company structure that will enable it to diversify into other financial services separately from the banking business. Access Bank, which has plans to be present in 22 ...

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