Activists staged protests against online retailer Amazon around France on Friday and tried to blockade a shopping mall in Paris, denouncing the rampant consumerism of the U.S. Black Friday shopping frenzy that has spread to European shores.
(Bloomberg) — For the last year, Saudi Arabia has largely turned a blind eye to cheaters within the OPEC+ alliance, cutting its own output more than agreed to offset over-production from the likes of Iraq and even Russia. Now, Riyadh’s had enough.Prince Abdulaziz bin Salman, who took over from Khalid Al-Falih in September, will likely use his first OPEC meeting as Saudi oil minister next week to signal OPEC’s dominant producer is no longer willing to compensate for other members’ non-compliance, according to people familiar with the kingdom’s thinking. OPEC meets in Vienna on Dec. 5, followed by the larger …read more […]
Top news and what to watch in the markets on Friday, November 29, 2019. …read more […]
U.S. consumers splurged more than $2 billion online in the first hours of Thanksgiving shopping on Thursday, while crowds were largely thin at retailers on the eve of Black Friday, reflecting the broader trend away from shopping at brick-and-mortar stores.
Daimler on Friday announced thousands of job cuts across the globe by the end of 2022 after reaching an agreement on its plans with labor unions.
Oil prices will remain subdued in 2020 as growth concerns weigh on demand and fuel a glut of crude, a Reuters poll showed on Friday ahead of production-policy talks among OPEC and its allies next week.
U.S. consumers splurged more than $2 billion online in the first hours of Thanksgiving shopping on Thursday, while crowds were largely thin at retailers on the eve of Black Friday, reflecting the broader trend away from shopping at brick-and-mortar stores. Early discounts offered this month by chains seeking to extend this year’s shorter holiday season saw a dip in the numbers lining up at stores across the country, according to consultants and analysts making spot checks on the ground. “We’ve seen many merchants start their promotions pretty much right after the trick-or-treaters have gone to bed,” said Lauren …read more […]
Oil prices dipped on Friday in muted activity because of the U.S. Thanksgiving holiday while OPEC watchers expect an extension to a pact to throttle oil output but no deeper cuts to be agreed by the producer group and its allies next week.
(Bloomberg) — Oil is heading for a fourth weekly gain, the longest winning streak since April, before a key OPEC+ meeting next week that will set the path for future production cuts.Futures were steady near $58 a barrel in New York as the U.S. Thanksgiving holiday reduced trading volumes. Saudi Arabia is likely to signal at the Vienna gathering that it’s no longer willing to compensate for the non-compliance of other members, according to people familiar with the kingdom’s thinking. OPEC and its allies are expected to extend the current supply pact, rather than deepen reductions, according to a Bloomberg …read more […]
Euro zone inflation accelerated faster than expected in November on a rise in food and services prices, likely comforting European Central Bank policymakers even if some factors pushing up prices may be only temporary.
Nov.29 — Morgan Stanley fired or placed on leave at least four traders over an alleged mismarking of securities that concealed losses of between $100 million and $140 million, according to people with knowledge of the matter. Bloomberg Opinion columnist Elisa Martinuzzi has the details on “Bloomberg Markets: European Open.” The views expressed are her own. …read more […]
Activists staged protests against online retailer Amazon around France on Friday, denouncing the rampant consumerism typified by the annual Black Friday shopping frenzy.
Renault, Nissan and Mitsubishi plan to appoint a general secretary at the helm of their partnership to boost cooperation and reboot joint operations after the departure of former alliance supremo Carlos Ghosn.
Agricultural machine manufacturers are working with banks in Brazil to avoid a repeat of slumping sales when public financing is expected to run out next year, the head of the local unit of U.S. tractor maker Deere & Co told Reuters on Thursday.
(Bloomberg) — Luxshare Precision Industry Co. has more than tripled this year, outperforming virtually every major stock traded in the Asia Pacific and underscoring the importance of a certain Apple Inc. product the Chinese company assembles: AirPods.Commanding a 50% share of the nascent true wireless earphones market — defined by earbuds that have no wired connection between each other or to the music source — Apple’s AirPods have quickly become an important growth driver for the Cupertino, California company. Wearables are Apple’s fastest-growing category, up 41% in 2019, and are filling in for the iPhone as the company’s growth driver …read more […]
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