November, 2020

• 1 November

  Fortress fails to sell record bond deal for Las Vegas rail

  

  Bloomberg Fortress Investment Group is postponing its plan to build a train to Las Vegas from Southern California after failing to sell a record amount of unrated municipal debt to finance the speculative project, showing the limits of investor appetite amid an economic downturn. Since the end of September, Fortress, through its company Brightline Holdings, had been marketing $3.2 billion ...

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• 1 November

  Rolls-Royce plans sale of ‘engine’ unit

  Bloomberg Rolls-Royce Holdings Plc has hired Deloitte to conduct the sale of its diesel and gas engine division Bergen, which could fetch up to 100 million pounds ($129 million), the Sunday Telegraph reported. Germany’s MAN SE and Finland’s Wartsila Oyj could be potential buyers and a sale is expected early next year, according to the report, which didn’t say where ...

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• 1 November

  World’s largest wetland has worst fires on record

  

  Bloomberg Brazil’s Pantanal wetlands, a fragile cradle of endangered species, burned at the fastest rate for the month of October since record keeping started in 1998, further damaging the country’s environmental credentials. At least 2,846 fire spots have been registered this month in the biome, surpassing a previous 2002 record, according to data from Brazil’s Spacial Research Institute, known as ...

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• 1 November

  China’s mega listings intensify rivalry among stock exchanges

  

  Bloomberg Ant Group Co.’s highly-anticipated initial public offering in Shanghai is set to intensify rivalry between the bourse and its competitor Shenzhen, as both aim for the top spot in China’s $9.9 trillion equity market. The megacities house two of the world’s largest 10 stock-exchange operators, and have for decades jostled to become the go-to destination for firms wanting to ...

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• 1 November

  Asia stocks pitched as a safe haven from volatile US election

  

  Bloomberg A slowing pace of virus infections and optimism over China’s economic recovery is burnishing the appeal of Asian stocks for some money managers as volatility in global markets jumps ahead of next week’s US vote. GAM Investment Management, Robeco Hong Kong Ltd. and Nordea Investment Funds SA see regional shares extending October’s gains, regardless of who wins the election. ...

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• 1 November

  Oil posts its largest monthly drop since March amid virus

  

  Bloomberg Oil posted its largest monthly drop since March as renewed lockdown measures to contain the coronavirus threatened to upend a shaky demand recovery. Futures fall 1.1% in New York to end the week below $36 a barrel taking their cue from a broader market selloff and the worst week for US stocks since March. At the same time, the ...

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• 1 November

  Apple loses $450bn in value on iPhone woes

  

  Bloomberg When talking about the biggest company in the world, it’s not unusual for there to be eye-popping numbers. But Apple Inc.’s latest superlative is not one investors would like to see. Since becoming the first American company to surpass $2 trillion in market value in August and peaking last month, the iPhone maker has lost $450 billion, wiped out ...

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• 1 November

  UAE sets up Covid-19 recovery committee to boost businesses

  

  Abu Dhabi / WAM In line with the UAE government’s plan and increased efforts to combat Covid-19, the Supreme Committee for Covid-19 Crisis Management, has announced the formation of the National Covid-19 Crisis Recovery Management and Governance Committee. The committee is mandated to ensure efficient recovery from the Covid-19 crisis by leveraging the resources required for business continuity. The committee ...

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• 1 November

  UAE joins UK-initiated Global Ocean Alliance

  Al Ain / WAM The UAE is the latest country to join the UK-initiated Global Ocean Alliance, a group of 32 countries working to protect the ocean and improve the livelihoods of coastal communities. As its core goal, the Alliance calls for safeguarding at least 30 percent of the world’s oceans by 2030 through marine protected areas. The UAE is ...

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• 1 November

  Covid-19: UAE reports 1,295 new recoveries

  

  Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 143,991 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As ...

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