October, 2020

• 27 October

  Amazon, India’s Ambani fight for retail dominance

  

  Bloomberg Amazon.com and Mukesh Ambani’s Reliance Industries’s fight for dominance of India’s lucrative e-commerce space is turning into a face-off, with both sides battling over the assets of a supermarket chain that could be key to their wider ambitions. Ambani and Jeff Bezos, two of the world’s wealthiest men, want the stores and warehouses of Future Retail Ltd, which has ...

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• 27 October

  Dunkin’ in talks to be acquired by Inspire

  Bloomberg Dunkin’ Brands Group, parent company of coffee-and-donuts chain Dunkin’ and Baskin-Robbins, said it’s in talks to be acquired by private equity-backed Inspire Brands. The New York Times reported the talks earlier, saying Inspire will take Dunkin’ private at $106.50 a share, citing two people with knowledge of the negotiations who weren’t identified. The deal — valued at $8.8 billion ...

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• 27 October

  Trump pins hopes on rallies that could seal his defeat

  

  Bloomberg President Donald Trump’s push for a second poll-defying victory is relying on a hallmark of his first — raucous campaign rallies that Trump sees as a crucial sign of voter enthusiasm but that pollsters say may only be cementing his defeat. Trump held three rallies, all in Pennsylvania, with three more scheduled on Tuesday and as many as five ...

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• 27 October

  Pompeo, Esper push closer India relations

  

  Bloomberg US Secretary of State Michael Pompeo and Defense Secretary Mark Esper pushed for closer ties with India at a high-level ministerial meeting with their Indian counterparts, at a time when New Delhi is facing a prolonged border conflict with China. “The United States will stand with the people of India as they confront threats to their sovereignty and to ...

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• 27 October

  US arms sales to Taiwan boost anti-China strategy

  

  Bloomberg While China has long opposed US arms exports to Taiwan, the Trump administration’s latest sales are worrying to Beijing for another reason: They show a greater alignment among the two democracies on the so-called “hedgehog” strategy to resist an invasion. The US weapons mark a notable shift in approach from the flashier warplanes and tanks traditionally favoured in Taipei ...

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• 27 October

  Bangkok weighs creating committee to end protests

  

  Bloomberg Thai lawmakers are weighing a proposal to set up a committee to explore ways to end the monthslong anti-government protests sweeping the Southeast Asian nation. A working group is looking at a panel proposed by Deputy Premier Jurin Laksanawisit, House Speaker Chuan Leekpai said on Tuesday. Parliament is set to wrap up a special two-day session convened to discuss ...

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• 27 October

  Johnson faces lockdown revolt from UK Tories

  

  Bloomberg More than 50 of Boris Johnson’s own Conservative members of Parliament have demanded a clear route out of lockdown for parts of northern Britain that helped give his party a majority in last year’s election. In a letter to the prime minister, the MPs warned that his pandemic strategy of targeting local areas with restrictions is disproportionately damaging the ...

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• 27 October

  Santander rebounds from big loss with profit, capital lift in Q3

  

  Bloomberg Banco Santander SA rebounded from its worst-ever quarter with a profit that beat estimates and improved capital as it seeks to convince regulators that its balance sheet is strong enough to resume dividend payments. Net income totalled 1.75 billion euros ($2.1 billion) in the third quarter, beating estimates of about 1 billion euros, the bank said on Tuesday. The ...

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• 27 October

  UBS to invest $200m in fintech startups

  

  Bloomberg UBS Group AG plans to invest $200 million of its own money in fintech companies over the medium term in a push to further digitize its services and find new ways to engage with clients. The portfolio, called UBS Next, will be run by a dedicated team and take mostly direct stakes in early-stage fintech and other relevant technology ...

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• 27 October

  HSBC beats estimates as loan loss expectations pared back

  

  Bloomberg HSBC Holdings Plc beat profit estimates for the third quarter, delivering an upside surprise as it pared back expected credit losses and signaled it may resume limited dividend payments already for this year. Adjusted pretax profit slid 21% to $4.3 billion in the period, beating the $2.8 billion estimate, the London-based bank said in a statement on Tuesday. HSBC ...

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