October, 2019

• 28 October

  Mozambique’s Nyusi wins landslide victory

  

  Bloomberg Mozambique president Filipe Nyusi won a second term by a landslide in the natural-gas-rich nation’s October 15 elections that the main opposition rejected as a “mega fraud.” Nyusi won 73% of the vote, compared with rival Ossufo Momade’s 22%, the electoral commission announced in the capital Maputo. His party also won all 10 gubernatorial ballots and more than 70% ...

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• 28 October

  Gratitude in action

  

  With so much bad news in the world these days, it was invigorating to spend last weekend in Yerevan, Armenia celebrating some courageous human-rights activists who reminded me of what’s best in the human spirit. The event was this year’s awards ceremony of the Aurora Prize for Awakening Humanity. The group was founded several years ago by three Armenians who ...

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• 28 October

  Nokia has no excuse for failing

  

  Nokia Oyj only really has two competitors in the telecoms equipment business, and one of them — China’s Huawei Technologies Co. — has been all but banned from much of the market. At the same time, phone companies are opening their checkbooks for a new generation of 5G technology that’s only supplied by Nokia, Huawei and the other big rival, ...

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• 28 October

  Norwegian Air is showing WeWork how to grow up

  A charismatic entrepreneur who prioritised growth over profitability, ran up a massive rent bill and then stepped aside when it looked like the company might run out of cash. No, not WeWork Cos Inc.; I’m talking about Norwegian Air Shuttle ASA. On October 24, the hip transatlantic airline, loved by bargain-hunting American millennials, announced the first fruits of its turnaround ...

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• 28 October

  Big companies can take big steps to save species

  Before our eyes, nature is vanishing faster than we might have imagined. The bird population in the US has fallen by more than 30% in the past 40 years, as have insect populations in Germany. In the UK, 60% of mammals and birds have disappeared since 1970. Meanwhile, nearly one-third of marine mammals worldwide face extinction. The problem seems especially ...

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• 28 October

  From Wyoming to Australia, coal’s heartlands retreating

  

  From the Rocky Mountains to the Rhineland and Australia’s Great Dividing Range, the great tide of the coal industry is receding. The entire Powder River Basin, the region spanning the states of Montana and Wyoming that provides about half of America’s thermal coal, is “distressed,” Moody’s Investors Service wrote in a report last week. All companies producing coal there are ...

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• 28 October

  Post-Brexit Britain will still rely on immigrants

  

  No matter how the UK’s tortuous process of leaving the European Union (EU) ends, those who supported Brexit as a way of curbing immigration will have to accept the immutable mathematics of demographics: Britain will remain economically reliant on foreign workers for decades to come. The Office for National Statistics (ONS) has just published its latest projections for the size ...

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• 28 October

  Fixed income is still a mystery to many investors

  

  The top-line takeaway from a BNY Mellon Investment Management national survey on fixed-income investing was stunning: A measly 8% of Americans were able to accurately define fixed-income investments. The 29-question online survey of just more than 2,000 adults, conducted in July, clearly shows that many Americans admit to having little knowledge about various fixed-income markets and how to invest in ...

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• 28 October

  US futures advance as Fed meeting nears; bonds slide

  

  Bloomberg US index futures climbed while stocks in Europe struggled for traction at the start of a week in which big corporate earnings continue to roll in and the Federal Reserve is expected to cut interest rates. Treasuries dropped, pushing the 10-year yield to a six-week high. Contracts on the S&P 500 edged higher after the underlying gauge climbed near ...

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• 28 October

  Argentina tightens currency controls after Fernandez wins

  

  Bloomberg Argentina tightened currency controls after the opposition’s Alberto Fernandez won the presidential elections. The central bank will restrict dollar purchases by savers to buy just $200 per month compared with the $10,000 per month previously, according to a central bank statement. The move looks to preserve international reserves during the political transition which will culminate in the handover on ...

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