November, 2020

• 2 November

  China getting ready for a world without Trump

  In less than a month, two unusual things happened at the People’s Bank of China (PBOC). First, it no longer required banks to set aside cash if clients wanted to short the yuan. This makes betting against the currency cheaper, and allows room for the yuan to weaken. Second, the PBOC removed the so-called counter-cyclical factor, one of the three ...

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• 2 November

  Airlines suffer blow as UK bans overseas leisure travel

  

  Bloomberg Overseas travel from England that’s not related to work will be prohibited to help curb a resurgence of the coronavirus, throwing airlines into a fresh crisis. The new rules, part of a wider partial lockdown by Prime Minister Boris Johnson, will apply from Thursday until December 2 and come as the industry struggles to survive a collapse in demand. ...

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• 2 November

  Ipsy buys makeup box rival BoxyCharm in $500 million deal

  

  Bloomberg Two of the top beauty products subscription services are merging. Ipsy has agreed to buy Miami-based rival BoxyCharm Inc, a pairing that will create a combined business with more than 4.3 million subscribers and $1 billion in revenue this year, according to the company. Ipsy and BoxyCharm will operate as separate brands in a merged company called BFA Industries, ...

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• 2 November

  South Africa government defends airline’s bailout

  

  Bloomberg South Africa’s National Treasury has defended a controversial 10.5 billion rand ($641 million) lifeline for its bankrupt national airline, saying that setting it on the path to recovery will entice private investors. “Government is not going to want to hold on to South African Airways (SAA) at all costs,” Treasury Director-General Dondo Mogajane said in an interview after the ...

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• 2 November

  Berlin’s $7b airport finally opens in depths of a crisis

  

  Bloomberg Berlin’s new airport finally opened its doors, welcoming passengers after an eight-year delay just as fallout from the coronavirus hammers travel demand. Planes from Deutsche Lufthansa AG and Easyjet Plc landed at Berlin Brandenburg Willy Brandt Airport — known by its airport code BER — shortly after 2 pm on October 31 to inaugurate the hub. Regular departures started ...

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• 2 November

  Ocado raises profit target over demand

  Bloomberg Ocado Group Plc raised its profit forecast as the pandemic boosts demand for online groceries, and agreed to buy two robotics companies for about $287 million. The company said it expects full-year earnings to exceed $77 million before interest, taxes, depreciation and amortisation. The previous target was for Ebitda of more than 40 million pounds. Ocado said its joint ...

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• 2 November

  China gains ground on India during summer in Himalayas

  

  Bloomberg As troops in the Himalayas hunker down for the brutal winter, the outcome of the worst clashes in decades is becoming clear: China has pushed further into territory once patrolled exclusively by India. A summer of fighting saw India lose control over about 300 square kilometres (115 square miles) of land along the disputed mountainous terrain, according to Indian ...

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• 2 November

  19 killed in attack on Kabul University

  

  Bloomberg Three gunmen attacked Afghanistan’s largest university killing at least 19 people and wounding 22 others, the latest bout of violence to wrack the capital Kabul as the government and Taliban engage in negotiations to end the 19-year-conflict. Afghan special forces arrived at Kabul University shortly after the attack began late morning, fighting the assailants and saving the lives of ...

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• 2 November

  Biden warns Trump against declaring early White House win

  

  Bloomberg Democratic presidential nominee Joe Biden warned that he wouldn’t let President Donald Trump declare victory in Tuesday’s election before the results are clear. “My response is the president is not going to steal this election,” Biden told reporters during a campaign stop in Philadelphia. He also condemned Trump supporters’ efforts to intimidate Biden backers, including an incident on a ...

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• 2 November

  Thai King calls nation ‘land of compromise’

  

  Bloomberg Facing the biggest anti-government protests in years, King Maha Vajiralongkorn called Thailand “the land of compromise” in a rare public comment after months of demonstrations in the Southeast Asian nation. The Thai monarch was responding to a question by UK’s Channel 4 News on whether there’s room for compromise amid the protests as he met with supporters in a ...

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