November, 2019

• 24 November

  Huawei sues critics in France over remarks on Chinese ties

  

  Bloomberg Huawei Technologies Co is suing critics in France who alleged it has ties to the Chinese state. In an unprecedented move, the technology giant filed three defamation claims in Paris over comments made during television programmes by a French researcher, a broadcast journalist and a telecommunications sector expert. The company’s legal actions in France were published in a report ...

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• 24 November

  FCA-PSA deal shows a merger of equals

  

  Bloomberg Fiat Chrysler Automobiles NV and PSA Group went out of their way to make their combination as equal as possible, shedding assets, paying special dividends and distributing board seats. It didn’t take long for investors to figure out who the buyer is. Shares of Fiat Chrysler jumped 10% after the two sides announced the deal, billed as a 50-50 ...

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• 24 November

  Peugeot to sign $50 billion Fiat merger deal this year

  Bloomberg Peugeot SA plans to sign its $50 billion merger deal with Fiat Chrysler Automobiles this year despite allegations that a former Fiat chief executive officer was implicated in bribery, Reuters reported, citing an unidentified person with direct knowledge of the matter. Talks between Peugeot-manufacturer PSA and Fiat are concentrated on the merger and a memorandum of understanding is scheduled ...

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• 24 November

  Italy, ArcelorMittal discuss steel-mill plan

  

  Bloomberg The Italian government and ArcelorMittal are holding negotiations on how to resolve a standoff at the European Union’s largest steel plant. ArcelorMittal, which bought the ex-Ilva steel mill for 1.8 billion euros ($2 billion) last year, is in dispute with the government over pollution levels and the company’s legal position and protection from criminal liability, while Italy is looking ...

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• 24 November

  US moves close to resume chicken exports to China

  

  Bloomberg The US has moved closer to resuming lucrative chicken exports to China after more than a hundred American processing plants were given approval to ship to the Asian nation. China authorised poultry imports from 172 facilities in the US, according to a notice on the nation’s customs website. Chicken giants Tyson Foods Inc, Pilgrim’s Pride Corp and Sanderson Farms ...

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• 24 November

  Musk touts 146,000 orders for Tesla’s electric pickup truck

  

  Bloomberg Tesla Inc Chief Executive Officer Elon Musk said the company has amassed 146,000 orders for its Cybertruck, less than 48 hours after the polarising vehicle was first shown amid shattered glass. The electric-car maker has a history of unveiling future products to throngs of excited customers, taking deposits, and then delivering years later. Two years ago, Tesla showed off ...

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• 24 November

  High-beta stock trade seizes up after everyone piled in

  

  Bloomberg The market, it’s said, finds a way to maximise the pain. For everyone who fell in love with cyclical shares just in time for them to drop the most in two months this week, it’s an adage they can relate to. Lurches in retail, technology and commodity stocks are spelling trouble for newly christened macro bulls, sending an exchange-traded ...

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• 24 November

  Herd of pound bulls sees its potential unleashed in 2020

  

  Bloomberg The chorus of bullish voices in favour of the pound is growing as investors become more confident the ruling Conservatives will win next month’s UK election. Funds are increasingly betting on the currency to strengthen as Boris Johnson’s party extends a lead against left-wing Labour in polls for the December 12 vote. BlackRock Inc and Goldman Sachs Group Inc ...

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• 24 November

  Record turnout in first Hong Kong vote since protests began

  

  Bloomberg A record number of Hong Kongers cast ballots in district elections by Sunday afternoon, with hours to go before polls were due to close, as they seized the first opportunity to vote after months of increasingly violent protests calling for greater democracy. Some 2.5 million people, or roughly 60% of the financial hub’s electorate, had voted by 6:30 pm, ...

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• 24 November

  Johnson launches Tory manifesto with pledge on taxes

  

  Bloomberg British PM Boris Johnson pledged his Conservatives won’t raise income tax, value-added tax or national insurance rates as he unveiled the party’s programme for government on Sunday. He also promised that the National Health Service will not be “on the table” in trade talks. The Tories hold a double-digit lead in most opinion polls heading into the December 12 ...

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