November, 2018

• 12 November

  Indian equities drop after weekly gains as oil-supply cut weighs

  

  Bloomberg Indian equities dropped, reversing earlier gains, as a plan by major oil producers to cut supply to boost the fuel’s price weighed on sentiment. The benchmark S&P BSE Sensex Index dropped 0.7 percent to 34,919.97 in Mumbai, after capping its first consecutive weekly gains in two months. Twenty-five of the 31 Sensex members fell on Monday, paced by a ...

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• 12 November

  SoftBank CEO to raise $21bn IPO of Japanese telecom unit

  

  Bloomberg SoftBank Group Corp. founder Masayoshi Son is seeking to raise 2.4 trillion yen ($21.1 billion) in an initial public offering of his Japanese telecom business that could be the country’s largest IPO yet. The Japanese technology giant said in a prospectus it will sell 1.6 billion shares at 1,500 yen apiece in a new entity, SoftBank Corp., that will ...

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• 12 November

  Bharti Airtel bonds jump most in 5 years after buyback offer

  

  Bloomberg Bharti Airtel Ltd.’s dollar-denominated bonds due in 2023 surged the most in five years after the company offered to buy back the securities at above the market price amid the risk of a rating downgrade. India’s second-biggest mobile phone carrier will pay $985 per $1,000 principal amount plus accrued interest for any or all of the $1.5 billion of ...

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• 12 November

  Jack Ma heads towards retirement with Singles’ Day record

  

  Bloomberg As Jack Ma prepares to step down as chairman of Alibaba Group Holding Ltd., he does so after the online sales promotion he has championed for a decade notched another record. In its 10th iteration, the annual Singles’ Day event on November 11 notched 213.5 billion yuan ($30.7 billion) in merchandise sales, an increase of 27 percent, according to ...

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• 12 November

  Netflix to test lower-priced plans in Asia

  

  Bloomberg Netflix Inc. said it will test a lower-priced version of its film and television streaming service in some markets to boost sales. The company hasn’t committed to lowering prices anywhere, but does want to experiment, Chief Executive Officer Reed Hastings said. He didn’t say when or where the test would be conducted. A lower-priced offering would be a departure ...

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• 12 November

  SAP set to buy Qualtrics for $8bn in its largest-ever deal

  

  Bloomberg SAP SE is making its largest acquisition yet as it battles startups including Salesforce.com Inc in selling software to clients that want to better understand their customers. The $8 billion purchase of Qualtrics International Inc., whose software gathers and analyses data, is meant to strengthen SAP’s offering in the customer relations management sector. That’s a field Europe’s biggest software ...

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• 12 November

  Euro hitched to pound amid Brexit concerns

  

  Bloomberg They’re getting a divorce but for currency traders, they’re almost as close as ever. Britain’s torturous settlement bid with the European Union has pushed the pound and euro in sync against the dollar as investors price risks on both sides of the Channel. The 40-day correlation between the two currency pairs has climbed back towards 0.80 and is nearing ...

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• 12 November

  GE tumbles to 2009 bear-market low

  

  Bloomberg General Electric Co. plunged towards its recession-era low and the company’s bonds fell sharply after an influential analyst slashed his price target. JPMorgan Chase & Co. analyst Steve Tusa cut his view on the shares 40 percent to $6, the lowest on Wall Street, citing rising liabilities, a weakening cash-flow outlook and poor third-quarter results on “almost all fronts.” ...

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• 12 November

  Third Point bets on American Express CEO driving growth

  

  Bloomberg Dan Loeb’s Third Point has taken a new position in American Express Co., saying Chief Executive Officer Stephen Squeri has positioned the credit card company for exceptional earnings growth. Amex could trade higher than $135 per share in the next 18 months as it benefits from initiatives to capture more consumer, business and international customers, the New York hedge ...

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• 12 November

  California fires seem as costly as hurricane at $19bn

  

  Bloomberg The most destructive series of wildfires in California history co-uld cost the state, insurers and homeowners at least $19 billion in damages, as firefighters struggled to gain control in swirling wi-nds across vast swaths of state. The carnage caused by fires north of San Francisco and near Los Angeles could be on par with the type of destruction triggered ...

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