Bloomberg The UK economy kicked off the fourth quarter on a disappointing note as Brexit concerns pushed growth in services to a seven-month low. IHS Markit’s index for the sector fell more than economists expected last month, recording the lowest reading since March when the nation was battered with bad weather. New business growth and optimism over the outlook were ...
Read More »Abbott gets FDA approval for much-awaited diabetes app
Bloomberg Abbott Laboratories won US approval for its FreeStyle LibreLink diabetes-monitoring app, giving users a way to keep track of their glucose levels from their iPhones. The app works with Abbott’s FreeStyle Libre glucose sensors, which have rapidly become some of the top-selling medical devices in the US. It is likely to be a welcome addition for millions of customers ...
Read More »Trafigura’s bet on Nyrstar keeps getting uglier
Bloomberg For nearly a decade, Trafigura Group Chairman Claude Dauphin coveted a zinc deal with Europe’s top smelter. The commodities trader finally got across the threshold in 2015, months after its co-founder’s sudden death. Just a few years later, it’s become one of Trafigura’s biggest headaches. Nyrstar NV shares have plu-nged to record lows as falling zinc prices squeeze profit ...
Read More »Merkel’s party turns inward with ‘leadership contest’
Bloomberg Contenders to succeed German Chancellor Angela Merkel as party chief will criss-cross the country to campaign ahead of a convention in December, giving an early taste of the choices for the next potential leader of Europe’s pivotal country. The process agreed among the Christian Democratic Union’s leadership signals that Germany is headed for another inward-looking period as the post-Merkel ...
Read More »Pompeo defends Iran oil sanctions waivers
Bloomberg Secretary of State Michael Pompeo defended the temporary waivers granted to eight countries to continue buying Iranian crude oil for now against Congressional critics and others who say the US is being too lenient on the Islamic Republic. The comments on “Fox News Sunday†come a day before US sanctions on Iran’s energy and shipping are due to snap ...
Read More »UK plans Brexit cabinet without deal
Bloomberg The UK Cabinet will discuss Brexit on Tuesday, but Prime Minister Theresa May probably won’t ask ministers to approve the terms of a deal, according to a person familiar with the matter. The premier is likely to update ministers on the past two weeks’ of technical negotiations that have been taking place at a less senior level, the person ...
Read More »Swedish speaker bets on opposition leader to break stalemate
Bloomberg The speaker of parliament said he will nominate opposition leader Ulf Kristersson as the prime minister candidate next week to break the gridlock that has gripped Sweden since its inconclusive election two months ago. At a press conference at parliament on Monday, Speaker Andreas Norlen said it’s important that the process is driven forward and that alternatives are tested ...
Read More »US midterm votes vulnerable to cyber-attacks: Experts
Bloomberg US cybersecurity experts are bracing for possible attempts to attack the midterm election by Russia or another adversary hoping to engineer a disruption that casts doubt on the integrity of the vote. Interference may range from altering websites used by state and local election authorities, to spreading propaganda through social media, to hacking at polling places intended to complicate ...
Read More »Diverging economies will keep driving markets
The divergence among economies, and the asset-price dispersion that has come with it, remains one of the key global issues for policy makers and investors this year. The phenomenon isn’t sufficiently appreciated, even though it has material impact on benchmark market relationships and leads to feedback loops between financial and economic influences. Yet it will continue to be important, defining ...
Read More »Driverless cars and future of parking
Alphabet Inc. subsidiary Waymo got the green light to test its driverless vehicles in California, an expansion of the program currently underway in Arizona. Waymo’s minivans will be driving in a swath of Silicon Valley around its headquarters, an area the company says it knows well. If — or when — Waymo and other driverless-car operators expand into denser urban ...
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