November, 2018

• 7 November

  Italy populists call confidence vote as allies’ rift deepens

  

  Bloomberg Italy’s populist government called a vote of confidence in parliament, as proposals to curb immigration and corruption fueled tensions between the coalition’s allies. Deputy Premier Matteo Salvini of the anti-migration League is pushing for restrictions on the rights of asylum-seekers, while several senators of the anti-establishment Five Star Movement are against the measures. The vote of confidence in the ...

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• 7 November

  US abruptly postpones North Korea talks

  

  Bloomberg Meetings between US Secretary of State Michael Pompeo and North Korean officials planned for later this week have been postponed, in a new sign of tension as the regime seeks sanctions relief before taking key disarmament steps. US State Department Spokeswoman Heather Nauert said in a statement that meetings with North Korean official Kim Yong Chol scheduled for Thursday ...

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• 7 November

  Australia vows to put Pacific at centre of strategic outlook

  Bloomberg Prime Minister Scott Morrison is vowing to put the Pacific islands at the center of Australia’s strategic outlook, amid concerns its influence in the region is waning as China increases its diplomatic and economic presence. The pivot towards the region will see the Australian Defence Force create a Pacific Mobile Training Team to undertake more engagem- ent with other ...

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• 7 November

  UK’s May set to put Brexit plan to cabinet despite splits

  

  Bloomberg UK Prime Minister Theresa May is preparing to ask the cabinet to approve a draft Brexit deal potentially within days, if she can overcome new resistance to her strategy from euroskeptic Tories in her team. During a cabinet meeting in London, ministers including the pro-Brexit campaigner Michael Gove demanded to see the full government legal advice underpinning a plan ...

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• 7 November

  US stocks climb as investors cheer on political gridlock

  

  Bloomberg US equity futures jumped, the dollar dropped and Treasuries climbed as investors seemed to cheer on an outlook for political gridlock in the wake of the American midterm elections. Risky assets were in favour after results showed Democrats winning control of the House of Representatives and Republicans holding on to the Senate. The outcome dims chances for any more ...

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• 7 November

  Hedge funds dove right back into tech at rout’s end: Goldman

  

  Bloomberg The crowd has yet to disperse. At the end of the worst month in seven years, hedge funds showed few signs they’ve soured on the technology and consumer stocks at the heart of the sell-off. The opposite, in fact: Goldman Sachs data show those groups were the most heavily bought in the last five days of October. Client notes ...

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• 7 November

  SoftBank IPO seeks record $18bn from retail investors

  

  Bloomberg SoftBank Group Corp. is seeking to raise a record 2 trillion yen ($18 billion) from Japanese individuals in the initial public offering (IPO) of its mobile phone unit, targeting investors who often get no interest on their savings, said people familiar with the matter. Nomura Holdings Inc., a joint global coordinator, will sell the biggest part of the shares ...

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• 7 November

  Super Apps all set to change Asia’s cities, economies

  

  Bloomberg The ability to communicate, shop online, order rides, read books, play games, get food delivery and pay for anything within a single, unified smartphone app is Asia’s defining innovation, technology leaders said at Bloomberg’s New Economy Forum in Singapore. WeChat, Grab and Go-Jek are prime examples of a breed of software called the Super App. In the US and ...

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• 7 November

  China’s car market to contract this year

  

  Bloomberg A Chinese government official has sounded the most direct warning yet about the nation’s slumping car industry. China’s vehicle sales will come in under 30 million units this year and may even fall below the number in 2017, Wu Wei, a divisional director under China’s top economic planning body, said on Wednesday. Companies shouldn’t expand production capacity blindly, and ...

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• 7 November

  Runaway ore train exposes Australia’s reliance on desert railway

  

  Bloomberg A network of private railroads more than three times the length of the New York subway system is the key lifeline for Australia’s A$61.3 billion ($44.5 billion) iron ore export industry. So when there’s a derailment in the biggest shipper — global markets, as well as the ground, shudder. A runaway train that derailed this week after traveling 92 ...

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