Markets


Saudi Aramco raises $25.6b in world’s biggest stock market float Saudi Aramco raises $25.6b in world’s biggest stock market float
- December 06, 2019

Last week, the company announced that retail subscriptions, ending November 28, had reached about 11.5 billion euros, with almost five million subscribers and almost 1.5 billion shares sold - exceeding their target of one billion. The government used a series of initiatives to encourage Saudis to buy a stake in the kingdom's crown jewel, including offers of bank loans and nationalist rhetoric portraying the investment a patriotic duty. (more...)
Elon Musk due back on witness stand in 'pedo guy' defamation trial Elon Musk due back on witness stand in 'pedo guy' defamation trial
- December 06, 2019

Elon Musk testified today that he was being insulting, not literal, when he called a British diver a paedophile in a tweet , prompting a defamation lawsuit from the man who helped rescue a dozen boys and their soccer coach from a flooded Thailand cave past year. (more...)
Ford will use McDonald's coffee to make car parts Ford will use McDonald's coffee to make car parts
- December 06, 2019

Ford will make use of coffee chaff , a term for the outer husk of the coffee bean that separates during roasting that's sometimes used to make garden mulch or charcoal. They have also been developing innovative and sustainable materials to build consumer products. In recent years, Ford has tried to use more recycled material in its cars , including seat cushions made from soy products, gaskets made from old tire rubber, interior console components made from bamboo, and wiring ... (more...)
Canada central bank holds key lending rate at 1.75% Canada central bank holds key lending rate at 1.75%
- December 05, 2019

Mr. Lane argued that despite the Canadian economy's close ties to the US, it often doesn't make sense for the Bank of Canada to match Fed rate moves - something that some critics have argued the Bank of Canada should be doing, to avoid too much divergence in the two countries' interest rates. (more...)
Huawei asks court to throw out USA telecom funds ban Huawei asks court to throw out USA telecom funds ban
- December 05, 2019

Last month, the FCC banned USA rural carriers from using federal funds to buy equipment from companies that "pose a national security threat", naming Huawei and ZTE as such firms. The FCC ban will take effect upon being published in the Federal Register and will initially affect future projects paid for by the USF and the use of federal funding to maintain existing equipment. (more...)
RBI policy: MPC springs a surprise; keeps repo rate unchanged at 5.15% RBI policy: MPC springs a surprise; keeps repo rate unchanged at 5.15%
- December 05, 2019

The MPC recognises that there is monetary policy space for future action. The six-member monetary policy committee (MPC) unanimously voted to hold the key repo rate at 5.15 percent while the reverse repo rate was also held at 4.9 percent. (more...)
SWR begins 27-day strike over role of guards SWR begins 27-day strike over role of guards
- December 05, 2019

On Monday morning the DfT refused to state how much taxpayers" money it was providing SWR in respect of the current wave strikes, citing "commercial confidentiality'. "They said at the outset this was about keeping the guard on the train - that is exactly what we have offered". "Unfortunately it's a ways definite to us that the RMT is unclear on what this dispute is about and intent on inserting no matter what". (more...)
Markets in tailspin amid fears US-China trade deal is in peril Markets in tailspin amid fears US-China trade deal is in peril
- December 04, 2019

Trump's statement on Tuesday prompted investors to reduce their exposure to risk, with Asian shares extending their losses, while the US dollar slid to a one-month low, making gold more attractive. "That's a trend that is going to continue, especially as long as there's the trade uncertainty", Ross said. "What President Trump envisions with tariffs is a means to an end, and the end ... (more...)
There could be a french fry shortage, here's why There could be a french fry shortage, here's why
- December 04, 2019

Despite cold weather affecting some of this year's crop, Frank Muir, president and CEO of the Idaho Potato Commission, said he's not too anxious. A french-fry starvation may be nigh, warn farmers who've experienced a bad potato crop this year. (more...)
Oil prices surge as Saudi seeks more supply cuts Oil prices surge as Saudi seeks more supply cuts
- December 03, 2019

American benchmark West Texas Intermediate (WTI) was trading at $56.16 a barrel at the same time for a 0.2% increase after it ended the previous session at $56.03 per barrel. Trump said he was willing to wait another year to sign a trade deal with China. The investment bank said it expected Brent to trade around $60 a barrel in 2020, "absent new growth or geopolitical shocks". (more...)
Riot Games to Pay $10 Million to Settle Gender-Discrimination Lawsuit Riot Games to Pay $10 Million to Settle Gender-Discrimination Lawsuit
- December 03, 2019

Taking to the stage next Saturday, Jason Derulo will close the immersive themed festival revolving around the iconic League of Legends . The payout for this gender discrimination class-action lawsuit is one of the largest in California's history, says the plaintiff's lawyer. (more...)
Saudi Aramco IPO institutional tranche oversubscribed more than twice Saudi Aramco IPO institutional tranche oversubscribed more than twice
- December 03, 2019

The institutional bookbuilding began on November 17 and investors have until December 4 to place orders. Aramco plans to sell 1.5 per cent of its shares in a deal that could raise up to $25.6bn. The retail investment ended yesterday, but institutional investors still can purchase shares up to next week. On Sunday, Iraq's oil minister, Thamer Ghadhban, told reporters in Baghdad that Opec and allies outside the cartel, known as Opec+, would consider cutting supply further by about 400,000 ... (more...)
Spain manufacturing decline slows in November - PMI Spain manufacturing decline slows in November - PMI
- December 03, 2019

A reading above 50 indicates expansion, while a reading below reflects contraction. "Latest PMI data revealed positive results across the board for the French manufacturing sector in November", IHS Markit economist Eliot Kerr said. Although conditions in the manufacturing sector improved in November, the rise remained subdued compared with earlier this year and the survey history, the study said. (more...)
USA threatens tariffs on French goods over digital tax USA threatens tariffs on French goods over digital tax
- December 03, 2019

France and the European Union are ready to fight back over the latest USA tariff threats on French products, French government ministers said on Tuesday. He later told a press conference: "We are not targeting any country". France wants digital companies to pay their fair share of taxes in countries where they make money and is pushing for an global agreement on the issue. (more...)
EU Antitrust Regulators Take Notice of Google's Actions & Monetization Practices Once Again EU Antitrust Regulators Take Notice of Google's Actions & Monetization Practices Once Again
- December 03, 2019

It comes in the wake of USA investigators revealing in September that they were launching an investigation into "potential monopolistic behaviour" against Google on behalf of 50 U.S. Google is appealing most of these fines and decisions, though the fines have had little impact on Google's revenue or share price. At the state level , Google is being investigated by a partnership of 48 us states along with the District of Columbia and Puerto Rico, led by Texas Attorney General Ken Paxton, ... (more...)
Evacuation slide falls from jet, lands in backyard while man is gardening Evacuation slide falls from jet, lands in backyard while man is gardening
- December 03, 2019

One Boston home just got a fun new backyard toy to play with, thanks to Delta Air Lines . It reportedly damaged and broke several branches of his Japanese maple tree. "It's pretty heavy. You can't even carry it". Massachusetts Port Authority spokesperson Jennifer Mehigan confirmed that the slide detached from the wing of the Delta plane , also noting that the flight landed at Logan International Airport safely. (more...)
France will be France will be "pugnacious" over new USA tariff threat -minister
- December 03, 2019

As well as threatening new tariffs on a series of French imports, the United States administration said it would consider whether to impose "fees or restrictions" on French services. "We will not give up on taxation" of digital firms, the official said. Senators Charles Grassley and Ron Wyden, who sit on the Senate Finance Committee, said: "The French digital tax is unreasonable, protectionist and discriminatory". (more...)
U.S. online Black Friday sales hit record $7.4 bn U.S. online Black Friday sales hit record $7.4 bn
- December 02, 2019

Shoppers spent $7.4 billion online on Friday, according to Adobe. Best selling video games included Federation Internationale de Football Association 20, Madden 20, and Nintendo Switch . "We've got a shorter holiday selling season", Jason Woosley, Adobe's vice president of commerce product and platform, told CNN Business earlier this week. (more...)
China factory activity expands in November after 6-month losing streak China factory activity expands in November after 6-month losing streak
- December 02, 2019

The reading is slightly above the 50-point mark that separates growth and contraction every month. China's factory activity rebounded for the first time in seven months in November, data showed on Saturday, despite the looming threat of the new United States tariffs in few weeks if Beijing and Washington fail to sign a partial trade deal. (more...)
Main Street shops enjoy crowds on Small Business Saturday Main Street shops enjoy crowds on Small Business Saturday
- December 01, 2019

November 30 is Small Business Saturday, a day when shopping small and locally can help make a difference for many small businesses in Plainfield this holiday season. Numerous small businesses in Missoula are in the downtown area which has over 50 local stores. Helping out local stores like Pruess Pets really impacts the community. (more...)

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