November, 2017

• 21 November

  US stocks hit record; NAFTA progress boosts Mexican peso

  

  Bloomberg US stocks hit a new high, while the Canadian dollar and Mexican peso scored gains after a report of progress in negotiations over the North American Free Trade Agreement (NAFTA). The S&P 500 Index approached the 2,600 mark, reaching its highest level on record. While the Thanksgiving holiday gives traders an excuse to pause, equities are heading into the …

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• 21 November

  Markets stay weak, ADNOC plans boost Abu Dhabi

  Reuters Most Middle East stock markets fell on Tuesday, weighed down by geopolitical worries, but Abu Dhabi was boosted by government plans to privatise parts of Abu Dhabi National Oil Co (ADNOC). Saudi Arabia’s stock index fell 0.4 percent on the back of weak banks and cement shares. National Commercial Bank , the largest lender, lost 1.8 percent while Riyad …

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• 21 November

  Brexit-hit banks set to start moving staff abroad by 2018

  

  Bloomberg UK politicians are fighting to get a deal early next year that will ease businesses’ panic about Brexit. For some industries, it’s probably too late. Barring some major breakthrough, global banks will implement their relocation plans early next year to guarantee they’re able to have new offices inside the European Union running by the time the UK exits, people …

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• 21 November

  European Central Bank likely to take small steps in QE exit guidance

  

  Bloomberg The European Central Bank is likely to make multiple small adjustments to its guidance on monetary policy next year rather than any major change in language as it ends quantitative easing, according to euro-area officials familiar with the thinking of policy makers. Incremental shifts in the wording used to describe the expected path of its policy would make sense …

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• 21 November

  Citi, BNP Paribas seen as less risky in global regulators’ ranking of banks

  

  Bloomberg Citigroup Inc. and BNP Paribas SA dropped in global regulators’ ranking of banks that pose the biggest threat to the financial system, and authorities recommended they face lower capital surcharges. Citigroup fell one level in the ranking, meaning its extra capital requirement under international standards will be 2 percent of risk-weighted assets, according to the Financial Stability Board’s latest …

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• 21 November

  Bidvest Bank keen to boost financial services offering

  

  Bloomberg Bidvest Group Ltd.’s banking unit agreed to buy FinGlobal, a provider of financial services to South Africans living outside the country, as part of an acquisition drive to expand and diversify its business. Bidvest Bank will fund the purchase out of its 2 billion rand ($142 million) in cash reserves, Managing Director Japie van Niekerk said by phone on …

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• 21 November

  RBA’s Lowe sees rates rising as patience pays off

  

  Bloomberg Australia’s central bank chief said interest rates will likely rise eventually as policy makers’ patience is finally rewarded with unemployment falling sufficiently to spur wage growth and faster inflation. “We’re not too far away from 2 percent and I think we’ll get there, we’re just not getting there as quickly as we would like to,” Governor Philip Lowe said …

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• 21 November

  EasyJet fares to gain in winter, buoyed by collapse of ‘carriers’

  

  Bloomberg EasyJet Plc said its fares are set to gain this winter, buoyed by the collapse of carriers including UK-based Monarch Airlines Ltd. and capacity cuts at main European rival Ryanair Holdings Plc. The demise of Monarch and Germany’s Air Berlin Plc, a bankruptcy filing at Italy’s Alitalia SpA and Ryanair’s move to scrap part of its timetable amid a …

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• 21 November

  Pilots in Ryanair’s home market join union push

  

  Bloomberg Ryanair Holdings Plc, which doesn’t recognise trade unions, lurched further towards collective bargaining after pilots in its home market of Ireland founded a new body and demanded negotiations with the discount operator. Management should engage exclusively on national matters with the “Ryanair Company Council,” the Irish Air Line Pilots’ Association said in a letter to Michael O’Leary, the carrier’s …

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• 21 November

  Swiss watch exports see biggest monthly gain since four years

  

  Bloomberg Swiss watch exports rose at the fastest monthly pace in more than four years in October, helped by an easy comparison with last year and fuelled by Asian demand for higher-priced timepieces. Shipments increased 9.3 percent to 1.85 billion francs ($1.9 billion) in October, the sixth consecutive monthly increase, the Federation of the Swiss Watch Industry said on Tuesday. …

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