November, 2018

• 3 November

  Trump: US open to new Iran deal as sanctions set to return

  

  Bloomberg President Donald Trump said the US remains open to reaching a comprehensive deal with Iran that blocks its nuclear-weapons programme, just days before sanctions on the country’s energy and shipping sectors kick back in. “Our objective is to force the regime into a clear choice,” Trump said in a statement released by the White House on Friday evening, referencing ...

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• 3 November

  Brexit silence can’t hide hints of ‘deal’

  

  Bloomberg A cloak of secrecy surrounds the negotiations on the UK’s exit from the European Union. Neither side has reported in any detail what’s going on behind closed doors in Brussels since Prime Minister Theresa May updated Parliament on October 22. But the lack of public comment doesn’t mean nothing’s happening. British and European negotiators are locked away trying to ...

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• 3 November

  US raises support for West Africa force fighting extremists

  Bloomberg The US almost doubled its pledge for the financial support of a West African force that began deploying last year to fight a surge in militant attacks. Assistance to the force that’s known as G5 Sahel will now total $111 million, from an initial pledge of $60 million made in October 2017, Samantha Reho, a spokeswoman for the US ...

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• 3 November

  Exxon, Chevron surprise Wall Street as Permian lifts results

  

  Bloomberg Exxon Mobil Corp. and Chevron Corp. delivered their strongest third-quarter results in four years, capping a week in which Big Oil enjoyed profits not seen since the days of $100 crude. Both companies reported double-digit production increases in the Permian Basin, the shale region in Texas and New Mexico that’s propelling total US oil output to an all-time high. ...

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• 3 November

  Suncor CEO goes on defensive over lagging Canadian oil

  

  Bloomberg Sounds like Suncor Energy Inc.’s top executive is getting tired of analysts asking questions about lagging Canadian oil prices. On the company’s earnings call, Steve Williams was met with a slew of inquiries about how Western Canadian crude’s growing gap to US barrels is affecting his company. His answer: For the most part, it’s not. That’s a response he ...

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• 3 November

  China Three Gorges attempt to win control of EDP slows

  

  Bloomberg China Three Gorges Corp.’s pursuit of utility EDP-Energias de Portugal SA has slowed as the Chinese energy producer grapples with unexpected obstacles to creating a global renewable-energy powerhouse, people with knowledge of the matter said. A sudden leadership change at Three Gorges, lingering regulatory and political concerns as well as pressure to raise the 9.1 billion-euro ($10.4 billion) offer ...

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• 3 November

  Alibaba cautions as signs of US-China trade deal emerge

  

  Bloomberg Alibaba Group Holding Ltd. adopted a cautious tone on the outlook for the global economy even as signs emerged of a possible end to a US and Chinese trade war. China’s largest e-commerce company reported quarterly earnings well above analysts’ estimates, while also trimming its prediction for full-year sales by as much as 6 percent. Shares slid as much ...

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• 3 November

  Tech tycoon takes $9.2bn rollercoaster ride in the mainland

  

  Bloomberg Zhou Hongyi made a savvy move this year when he shifted his company listing to Shanghai from New York. The February switch added $12 billion overnight to his fortune. The 48-year-old chairman of 360 Security Technology Inc. has since experienced the downside of listing in China, after stocks tumbled on concerns about a US trade war and a slowing ...

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• 3 November

  Chinese steel producers trigger growth in iron ore supplies from India

  

  Bloomberg As China’s push for clear skies sends the world’s biggest steel industry hunting for better quality iron ore, suppliers in India are ramping up capacity to cater to the growing export market, according to the local unit of Moody’s Investors Service. Indian producers of iron ore pellets — a less polluting form of the mineral that can be fed ...

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• 3 November

  Google, Facebook may have year to meet cyber law, says Vietnam

  

  Bloomberg Vietnam is proposing to allow international Internet companies such as Alphabet Inc.’s Google and Facebook Inc. one year to comply with a controversial cyber law that goes into effect on January 1 and requires them to open local offices and store data of Vietnamese users in the country. The Ministry of Public Security posted a draft decree on its ...

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