November, 2018

• 21 November

  Russian Interpol hopes crushed as South Korean Kim Jong Yang elected president

  

  Bloomberg Interpol delegates elected South Korean Kim Jong Yang as the new president of the global policing body after international criticism of the possibility that rival Russian candidate Aleksander Prokopchuk might get the job. Kim was selected in a snap election organised at Interpol’s general assembly in Dubai following the arrest in China of former president Meng Hongwei last month. ...

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• 21 November

  Zuma lied to, misled cabinet, says Gordhan

  

  Bloomberg Former South African Finance Minister Pravin Gordhan said there was a deliberate scheme to loot taxpayer funds during Jacob Zuma’s rule and accused the former president of helping facilitate it and lying to and misleading members of his cabinet. Gordhan, who now oversees state companies, was testifying before a judicial panel that’s investigating claims that members of the Gupta ...

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• 21 November

  Job opening for Trump’s defender-in-chief ignites jockeying

  

  Bloomberg At least three Republicans are jockeying to serve as President Donald Trump’s first line of defense against any effort by House Democrats to seek his impeachment, a job that that carries high risk and narrow rewards. The position: top GOP seat on the House Judiciary Committee, which could investigate whether there are grounds to remove Trump from office. The ...

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• 21 November

  US stocks rally, technology surges after steep decline

  

  Bloomberg US stocks climbed on tech strength, trimming recent losses from the sharp declines across asset classes during Tuesday’s session. Treasuries erased a drop and the dollar fell amid speculation the Federal Reserve may soften its policy stance. All major benchmarks were higher, with the Nasdaq 100 Index leading gainers and erasing more than half of Tuesday’s decline. Retailers and ...

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• 21 November

  Dot-com ghosts still haunt emerging stocks as tech profit stalls

  

  Bloomberg The deepest bear market since the financial crisis in developing-nation technology stocks probably has further to run as earnings disappoint and analysts slash their profit estimates. Companies in the MSCI emerging-market tech gauge are missing earnings forecasts for the first time in almost 18 months, based on 12-month rolling data. Combined with deepening trade tensions, that’s leading analysts to ...

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• 21 November

  Surprise fuel flows sparked by US-China trade war

  

  Bloomberg A Southeast Asian nation that was a bit player in the biofuel market is suddenly buying and selling unprecedented supplies. The US-China trade war may have something to do with it. Malaysia has emerged to displace the US as the biggest supplier of ethanol to China in just two months. It’s also the first time the Southeast Asian country ...

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• 21 November

  Libya oil boss expect Opec cuts relief

  Bloomberg Libya’s top oil chief expects Opec and allied producers to exempt the strife-torn North African country from any future cuts in crude output. “The Opec community has understood the difficulties we face— Libya has withheld more than any other country from the global market,” National Oil Corp Chairman Mustafa Sanalla wrote in a phone message. “This should be factored ...

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• 21 November

  JC Penney piles sale upon sale trying to dig out of ‘abyss’

  

  Bloomberg Walk into a JC Penney and it’s a sea of red stickers. Almost everything is marked down, from apparel, jewellery and home goods to Christmas decor, bedding and appliances. And it’s not even Black Friday yet. Even for a retailer whose identity is built on promotions and discounts, there’s an urgency to this holiday season. JC Penney Co.’s bonds ...

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• 21 November

  Boeing: Jet demand to survive as Brexit buffets economies

  

  Bloomberg Boeing Co. reckons Brexit will slow growth in both the UK and European Union economies, though not enough to upset demand for its planes, according to marketing vice president Randy Tinseth. “We expect from a UK perspective and an EU perspective, there will be an economic impact, you can’t get away from that, the UK economy more in terms ...

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• 21 November

  Airlines in India seek emergency credit from oil companies, airports

  

  Bloomberg Airlines in India are asking the government to help them obtain unsecured credit from oil companies and airports, as fuel-price increases push them deeper into losses and imperil their survival. Competition and aggressive pricing are stopping fares from rising to reflect higher input costs, the Federation of Indian Airlines said in a letter sent to the aviation ministry’s top ...

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