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Bloomberg #DemonetisationDisaster was among the top trends worldwide on Twitter on November 8, the third anniversary of Indian Prime Minister Narendra Modi’s ban on high-value currency notes that has since been termed a “total failure†and a “draconian†act. The outcry comes on the day Moody’s Investors Service cut India’s credit rating outlook to negative, citing a litany of problems ...
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November, 2019
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10 November
Top US official vows scrutiny of tech giants’ data practices
Bloomberg The US Justice Department’s (DOJ) top antitrust enforcer said data collection practices of technology companies can raise competition concerns, the latest warning directed at the industry amid a broad investigation of its biggest companies. Makan Delrahim, the head of the antitrust division, said in a speech at Harvard Law School that the department is paying close attention to the ...
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10 November
GM sells Ohio assembly plant to EV startup
Bloomberg Lordstown Motors Corp, the electric-truck startup formed specifically to save a shuttered Ohio car factory, has acquired the highly politicised plant from General Motors Co. The acquisition that the two companies announced ends an era that began when GM opened the complex in 1966. The factory’s fate was largely sealed when the United Auto Workers union was unable to ...
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10 November
Trump: China wants US deal much more than I do
Bloomberg President Donald Trump said trade talks with China are moving along “very nicely,†and said the leaders in Beijing wanted a deal “much more than I do.†Trump also described as “incorrect†reports about how much the US was ready to roll back tariffs on China. “If we don’t make that right deal, we’re not going to make a ...
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10 November
Get ready as ‘beta-chasing’ stock managers try to make up ground
Bloomberg It’s been the same trade all year. A recession is coming, so get defensive. Now the strategy is unwinding and stock managers who toed the line all the way into November have furious catching up to do. That’s bad if you’re in charge of an equity portfolio that’s straggling. But for anyone hoping to ride along with more upward ...
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10 November
Morgan Stanley going cold on European stocks
Bloomberg After sending European stocks surging to multi-year highs on trade optimism, investors may hit the brakes on the rally, according to Morgan Stanley. Optimism about a US-China trade deal and receding risks of no-deal Brexit have boosted shares in recent weeks, with the Stoxx Europe 600 Index now less than 2% away from a record high reached in 2015. ...
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10 November
Aramco’s record IPO starts on Nov 17
Bloomberg Saudi Aramco will allow investors to start bidding for shares in the world’s most-profitable company from November 17. The Saudi stock exchange rules prohibits the oil giant from listing additional shares for six months after the start of trading, according to its more than 650-page prospectus. Also, the Saudi government, the company’s sole owner, won’t offer any additional shares ...
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10 November
Alberta loosens oil curbs
Bloomberg Alberta loosened crude-oil production limits for second time in two weeks, exempting new conventional wells from output caps in a bid to spur drilling and boost employment. Alberta is trying to allow more oil production without overwhelming the province’s strained pipeline network.
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10 November
Ireland’s ESB nears deal for stake in Scottish wind farm
Bloomberg Electricity Supply Board (ESB), the state-owned Irish utility, is in advanced talks to buy a stake in a Scottish offshore wind farm project owned by Electricite de France SA, people familiar with the matter said. A deal for a 50% holding in the Neart na Gaoithe development could be announced as soon as the next few weeks, the people ...
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10 November
As Putin’s embrace tightens, Lukashenko reaches out to EU
Bloomberg Belarusian President Alexander Lukashenko is set to make his first bilateral visit to the European Union since it dropped sanctions against him in 2016, as he strives to balance growing pressure from Moscow for integration with Russia. Lukashenko, once dubbed “Europe’s last dictator†by the US, is due to meet Austrian President Alexander Van der Bellen in Vienna on ...
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