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Bloomberg European stocks fall the most since July after a report on bank allegations and signs that London is heading for a second lockdown. US equity futures sank and Treasuries rise. Airlines and travel companies led losses in the Europe Stoxx 600 Index. With virus cases climbing across Europe, there’s growing speculation that officials will be forced to apply tougher ...

Bloomberg HSBC Holdings Plc slumped below its financial crisis low set more than a decade ago as pressures mount on several fronts, including a potential threat to its China expansion plans and increased scrutiny of money laundering controls. The London-based bank’s Hong Kong shares on Monday slid below their closing low for March 2009, hitting as low as HK$29.60. They ...

NEW YORK / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, will lead the UAE’s delegation to the 75th session of the UN General Assembly and will virtually address the body on September 29 during the General Debate. During the high-level week, the UAE delegation will be engaging with other member states, UN ...

Bloomberg Saudi Industrial Investment Group and National Petrochemical Co. started talks to merge, potentially creating a firm with $11 billion in assets as Middle Eastern energy companies assess their options in a lower oil-price environment. The talks are at an initial stage, and no agreement has been reached, the companies said on Sunday. Saudi Industrial owns 50 percent of National ...

Bloomberg China’s ByteDance Ltd. is seeking a valuation of $60 billion for TikTok as Oracle Corp. and Walmart Inc. take stakes in the short-video app’s business to address US security concerns, according to a person familiar with the matter. Oracle and Walmart have rights to buy 12.5% and 7.5% respectively of a newly established TikTok Global under an agreement that ...

Bloomberg Petroleos Mexicanos expects a drastic drop in oil exports over the next three years as the company faces the twin challenges of declining output and supplying crude to a controversial new $8 billion refinery championed by the country’s President Andres Manuel Lopez Obrador. Pemex, as the state oil company is also called, is forecasting a reduction of almost 70% ...

Bloomberg Billions of dollars could be on the way to Sand Hill Road this week, home base for Silicon Valley’s venture capital elite, after a string of initial public offerings. Venture firms netted handsome returns on paper for their early investments. While the firms mostly won’t be able to sell their shares until lockup periods expire, proceeds from exits could ...

Bloomberg The consensus among equity strategists is that the European market is going nowhere for the rest of the year after their brisk rebound in the first half of 2020, although predictions range from Deutsche Bank AG calling for an 18% gain to Commerzbank AG’s forecast of an 11% slide. The Stoxx Europe 600 Index will end 2020 at a ...

Bloomberg Saudi Arabia’s warning to Opec+ cheaters and short-sellers alike helped oil prices stage their biggest weekly rally since June, despite a grim start to the week as industry heavyweights painted a troubling demand picture for the petroleum complex. Futures in New York rise 10% this week following a show of determination by Saudi Arabia, the most influential nation in ...

Bloomberg TikTok asked a federal judge in Washington to block the Trump administration from enacting a ban on the fast-growing social-media network. TikTok and its parent company, ByteDance Ltd., filed a complaint challenging the Trump administration’s recent moves to prevent the app from operating in the US. The lawsuit marks the second time TikTok has challenged President Donald Trump’s actions ...