December, 2016

• 1 December

  Hangover awaits as OPEC celebrates biggest accord in years

  

    Bloomberg Let OPEC celebrate. For now. The oil club is dizzy with its own success after a harmonious meeting in Vienna, where it surprised the world by agreeing to its first production cut in eight years. In hurried notes just hours after the end of the meetings, analysts joined the party. “OPEC resurrection,” Neil Beveridge at Sanford C. Bernstein ...

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• 1 December

  Uber’s identity crisis

  

    An important trial started at the Court of Justice of the European Union, the EU’s top judicial authority. The judges are trying to determine whether Uber is a taxi company or merely a tech platform that enables customers to find drivers, and the decision, which is not likely to come before April, will serve as a precedent for other ...

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• 1 December

  Jobs data matter, even if a hike is certain

    The monthly US jobs report for November that will be released on Friday is unlikely to be so bad that the Federal Open Market Committee would upset market expectations and refrain from hiking interest rates in mid-December. Instead, the data are likely to validate what fixed-income markets have already priced in when it comes to short-term interest rates. The ...

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• 1 December

  Mark Carney brings you Yesterdays bank crisis, today

  

    The curse of the rear-view mirror has struck again. The Bank of England’s stress tests of UK banks were the toughest yet, but didn’t model the impact of the Brexit negotiations or a withdrawal from the EU. Rather than bickering over whether such tests are too tough or too lenient, we should be questioning whether the process itself needs ...

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• 1 December

  Gulf markets firm as OPEC deal lifts state revenue prospects

  

    DUBAI / Reuters Petrochemicals companies led Gulf stock markets higher on Thursday in response to OPEC’s first agreement on output cuts to prop up oil prices since 2008 — a deal that could allow governments to ease austerity policies slightly. Expectations for the deal had already boosted oil and Gulf bourses on Wednesday, but the agreement included bigger production ...

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• 1 December

  Dow reaches record as rising oil pulls stocks mostly higher

  

    NEW YORK / AP More gains in Goldman Sachs and Chevron helped pull the Dow Jones industrial average to another record high even as other indexes were flat to lower in early trading on Thursday. Ford and General Motors are rising after they announced strong sales in November. Technology companies and companies that pay big dividends are trading lower. ...

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• 1 December

  United may amend $12.4 billion Airbus deal to take smaller jets

  

    Bloomberg United Continental Holdings Inc. may convert a $12.4 billion order for Airbus Group SE’s largest twin-engine jet to smaller long-range models. It’s also interested in a new Boeing Co. 737 Max that’s still on the drawing board. Those are among the multibillion-dollar changes under consideration as a new management team reviews the Chicago-based carrier’s order portfolio and revamps ...

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• 1 December

  Lufthansa offers humility, higher pay to pacify pilot conflict

  

    Bloomberg Deutsche Lufthansa AG sought to defuse an escalating pilots strike by offering an improved wage deal as well as a show of humility. The German airline proposed a 4.4 percent raise plus a bonus that will exceed 20,000 euros ($21,200) per pilot on average, dropping a demand for employee concessions on benefits. In a move away from more ...

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• 1 December

  Fastjet to move headquarters to S Africa

  

    Bloomberg Fastjet Plc is considering expanding in South Africa as new Chief Executive Officer Nico Bezuidenhout evaluates growth opportunities for the unprofitable discount airline and says the continent’s most industrialized economy is too big to stay out of. While the Africa-focused carrier already connects Johannesburg with its hubs in Tanzania and Zimbabwe, it has no internal services in South ...

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• 1 December

  Coca-Cola opens first factory in Gaza Strip

  

    Gaza City / AFP Coca-Cola formally has opened its first factory in the Gaza Strip, the company announced, in a move that could create hundreds of jobs in the beleaguered Palestinian enclave. The bottling facility had been partially open for several months but began full operations after a ceremony Wednesday. The $20-million (19-million euro) investment is the company’s first ...

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