November, 2018

• 20 November

  Facebook’s leaders didn’t get it and still don’t

  

  Not long ago, an explanation developed about Facebook Inc.’s two-plus years of crises. The theory went that Facebook’s failures to spot foreign propaganda on the social network, to weed out viral misinformation, and to protect people’s digital information all had a common cause: Facebook’s leaders were too trusting and too optimistic to predict how the social network could be twisted ...

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• 20 November

  Tech sell-off hits global stocks; Treasuries gain

  

  Bloomberg Stocks fell from London to Shanghai and US equity futures signaled the global rout led by technology shares would deepen on Tuesday, adding pessimism to markets already anxious over trade. Treasuries advanced and the dollar edged higher. Contracts on all major US equity indexes pointed to declines at the open, with megacap tech shares leading the drop. The Stoxx ...

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• 20 November

  Cryptocurrencies plummet, Bitcoin breaks below $5,000

  

  Bloomberg The slide in cryptocurrencies accelerated this week, with Bitcoin piercing the $5,000 mark for the first time since October 2017, amid speculation that increased regulatory scrutiny will prompt issuers of initial coin offerings to liquidate holdings. Bitcoin declined as much as 14 percent during US trading hours, falling just below $4,700 before bouncing back slightly. The largest digital currency ...

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• 20 November

  SocGen to pay $1.3bn in US sanctions case settlement

  

  Bloomberg Societe Generale SA settled its longstanding sanctions violations case with US authorities, entering a deferred prosecution agreement with federal prosecutors and paying $1.34 billion to regulators in New York and Washington. As part of the settlement, France’s third-largest bank acknowledged violations of US sanctions laws against Cuba, Iran and Sudan starting as far back as 2003 and extending to ...

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• 20 November

  BOE’s Carney backs May’s Brexit plan

  

  Bloomberg Mark Carney gave his seal of approval to the transition deal agreed by Prime Minister Theresa May’s with the European Union, and signalled that he would welcome even longer for the UK to adjust. In his first public comments on the government’s draft agreement, the Bank of England (BOE) governor united with other central bank officials to warn of ...

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• 20 November

  RBI, Modi govt signal truce on reserves

  

  Bloomberg India’s central bank signalled a compromise with the government by agreeing to study a demand for sharing a part of its capital — an issue that had triggered a public spat between the monetary policy makers and their political bosses. The Reserve Bank of India will form a panel to consider the funds transfer to the government, the central ...

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• 20 November

  ECB: Banks breaking pledge to avoid risk

  Bloomberg European lenders are breaking promises that they would avoid excessive risk in the wake of the financial crisis, according to the European Central Bank. “We’re seeing more and more banks take risks that, back in 2008 and 2009, they said they’d never do again,” said Korbinian Ibel, a director general at the ECB’s banking supervision arm. “They argue that ...

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• 20 November

  Greece mulls subsidy for debtors to get banks back on track

  

  Bloomberg Greece is trying everything to get its banks back on track, including a direct subsidy to some of their most troubled customers. The government is working on a plan to lessen the burden for borrowers of modest means who can’t repay their debts, according to two people familiar with the project. Though it’s not clear how many borrowers would ...

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• 20 November

  Smooth ride to defy carriers despite Modi’s Jet-Tata match

  

  Bloomberg A rescue of beleaguered Jet Airways brokered by the Indian government is unlikely to end the pain of local airlines that are struggling to make money in one of the toughest markets, according to analysts. Tata Group’s interest in purchasing Jet Airways India Ltd. may be a “step in the right direction,” although it won’t transform overnight an industry ...

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• 20 November

  Boeing’s 737 Max jet gets a thumbs up in $4.4bn Korean order

  

  Bloomberg Boeing Co.’s 737 Max jet just got a vote of confidence with a $4.4 billion order from a South Korean carrier, less than a month after one of the planes crashed in an incident investigators believe was caused by a faulty flight system. Jeju Air Co., South Korea’s biggest budget carrier, ordered 40 Max 8 aircraft at a list ...

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