November, 2018

• 6 November

  US stocks climb as dollar slips amid midterm votes

  

  Bloomberg US stocks climbed, with the biggest tech companies among the best performers, in relatively light volume as the US midterm elections got underway. The Nasdaq was the best performing major US gauge, with Apple, Amazon and Microsoft leading the way. The Stoxx Europe 600 Index slid a second day. Oil traded near the lowest level in seven months as ...

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• 6 November

  Indian stocks eke out gains ahead of holidays

  

  Bloomberg Indian shares eked out gains ahead of holidays as crude oil resumed its decline, reducing the cost of the nation’s biggest import, and as profits at top 50 companies mostly matched or exceeded analyst estimates. The benchmark S&P BSE Sensex climbed 0.1 percent to 34,991.91 at the 3:30 pm close in Mumbai after fluctuating at least 10 times between ...

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• 6 November

  Africa enjoys an oil boom as drilling spreads in continent

  

  Bloomberg Africa is finally seeing the benefits from the recovery in cru-de prices as companies ramp up drilling from Algeria to Namibia. The rigs are returning and wildcatters are getting excited again after a years-long hiatus during the oil-price slump. From majors like Total SA to independents like Tullow Oil Plc, companies are snapping up exploration rights and doing deals. ...

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• 6 November

  Exxon CEO says size doesn’t matter in M&A

  

  Bloomberg The world’s biggest public energy company doesn’t worry about size when it comes to potential deal-making. The driver of any acquisition for Exxon Mobil Corp. isn’t the scope of the target, it’s whether the company finds more value in it than the market does, Darren Woods, chief executive officer of the Irving, Texas-based firm, said at the New Economy ...

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• 6 November

  Oil could touch $100 if supply crunch worsens: Citigroup

  

  Bloomberg Oil prices are likely to be “biased to the upside” for the rest of the year as demand from refineries rises in November and December, according to Citigroup Inc. An average price of $80 a barrel for this quarter is “realistic,” with spikes to $90 or even $100 possible if further disruptions worsen a supply crunch amid rising consumption, ...

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• 6 November

  Takeda pushes back as group seeks to stop $62bn Shire deal

  

  Bloomberg Takeda Pharmaceutical Co. Chief Executive Officer Christophe Weber pushed back against dissident shareholders seeking to stop the Japanese drugmaker’s acquisition of Shire Plc, saying he won’t release minutes of boardroom discussions. A group including members of Takeda’s founding family opposes the planned $62 billion acquisition of the UK-listed biotech firm, which would rank as the biggest overseas takeover by ...

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• 6 November

  Office rents in world’s most expensive market seen falling next year

  

  Bloomberg Rents in the world’s costliest office market, Hong Kong, may fall for the first time in four years as an equities rout weighs on sentiment in the financial hub. Grade-A office rents in Central and Admiralty will decline by about four percent in 2019, Colliers International Inc. said in a report. That compares with an estimated gain of 9 ...

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• 6 November

  China’s housing market shows signs of cooling

  Bloomberg More signs have emerged that China’s housing market is cooling, with sales in the secondary market, land purchases by developers and contracted sales at the biggest builders all falling last month, as these three charts show. Sales of existing homes, which are quarantined from the government curbs on the new home market, last month plunged to a four-year low ...

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• 6 November

  Infosys is boring again, and that’s a good thing: Nilekani

  

  Bloomberg Infosys Ltd. has returned to stability, almost a year after the appointment of a new chief executive ended a tumultuous period at the Indian software and services company. Chairman Nandan Nilekani, speaking on the sidelines of Bloomberg’s New Economy Forum in Singapore, said that the turnaround is complete. “This is all very much from the past,” he said of ...

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• 6 November

  Chinese car billionaire Li sets sights on ‘supersonic’ trains

  

  Bloomberg Chinese billionaire Li Shufu spent the past decade expanding his auto empire buying Volvo, a stake in Daimler AG and a startup that is building flying cars. Now he’s looking to reinvent the bullet train. Li’s Zhejiang Geely Holding Group signed an agreement on Tuesday with state-owned China Aerospace Science and Industry Corp. to build “supersonic trains” using homegrown ...

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