Just a small investment can go a long way when investing in high-flying, top-tier companies with massive addressable markets.
Armored Vehicles Market is poised to experience spend growth of more than USD 3 billion between 2020-2024 at a CAGR of over 5.92%.
Matt Harmon looks at the five things he cares about and the five things he doesn't care about coming out of the Sunday games from Week 12, including a flawless night from the Packers offense, Austin Ekeler's return, and more.
Jarryd Hayne has told a jury if the woman accusing him of rape had told him "no" or to stop, he would have known she was not consenting.
The Electric Vehicle Charging Infrastructure Market will grow by $ 17.64 bn during 2020-2024
The first family might include a cat for the first time in more than a decadewhen President-elect Joe Biden takes office.
(Bloomberg) -- Universal Studios Japan plans to open its $580 million Nintendo attraction on Feb. 4, finally debuting a long-delayed effort to introduce Mario and other beloved characters to real-world theme park visitors.Super Nintendo World, built on the existing Universal Studios Japan site, is envisioned as a life-sized replica of Nintendo Co.’s most popular games with rides, shops and walk-through activities. One of the first attractions will be a Mario Kart ride inside a recreation of Bowser’s Castle. Borrowing an idea from the Super Mario franchise, visitors can collect virtual coins by wearing a dedicated wristband as they explore the area and interact with park features via a Switch console.Read More: Nintendo Plans Life-Sized Video Game at Universal Studios JapanThe showcase is one of the largest projects ever conceived by the Osaka-based amusement park operator, which invested more than 60 billion yen ($578 million). It was originally slated for a summer opening but got postponed during the pandemic. Its kick-off could still get pushed back, as Japan grapples with a fresh outbreak and Osaka, where the park is located, becomes one of the nation’s worst-affected cities.A lot is riding on Super Nintendo World as the theme-park industry struggles with falling revenue and Japan debates whether to promote domestic tourism. Walt Disney Co. is cutting jobs while Comcast Corp.’s NBCUniversal, the owner of the Osaka park, is suspending plans to open another Nintendo area within its Orlando location. Universal Studios Japan is also operating at half its full capacity to help curb the spread of the virus.Read More: Disney Cuts 4,000 More Jobs Blaming Virus Hit to Theme ParksThe project, which licensed characters from Nintendo, is part of efforts by the Kyoto-based games company to broaden its franchises beyond console players. Movies, merchandise stores and smartphone apps are all designed as a hook to lure new users to buy game-dedicated machines and software.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
David Warner will not need surgery on a groin injury that has ruled him out of the white-ball matches against India, leaving him some chance to play the Tests.
(Bloomberg) -- Emerging-market stocks and currencies posted their fourth week of gains last week amid optimism over vaccine developments and the formal start of President-elect Joe Biden’s transition to power. On a monthly basis, currencies are set for a sixth straight monthly gains in November, the longest streak since May 2017. Central banks in South Korea, Nigeria, Colombia and Sri Lanka all held rates steady as the scope for further monetary easing fades.The following is a roundup of emerging-market news and highlights for the week through Nov. 29:Click here for our emerging-markets weekly preview and listen here to our weekly podcast.Highlights:Leaders of the world’s richest countries promised to ensure equality in the race to vaccinate people against the coronavirus, even as President Donald Trump stayed quiet on sharing U.S.-made vaccines with other nationsA leading Chinese vaccine developer has applied for authorization to bring its Covid-19 shot to the market, seeking to get a jump on Western rivals as the race for a working inoculation against the virus enters the final stretchAstraZeneca Plc’s Covid-19 vaccine looks like it’s headed for an additional global trial as the drugmaker tries to clear up uncertainty and confusion surrounding favorable results in its current studyBiden said his transition team will not be “so far behind the curve” now that the Trump administration has begun cooperating on the fight against the coronavirus and providing access to intelligence reports after a three-week delayBiden plans to nominate former Federal Reserve Chair Janet Yellen to serve as his Treasury secretary, people familiar with the matter said, choosing the first woman and a seasoned central banker for the nation’s top economic policy job as the coronavirus pandemic threatens another U.S. downturnChina’s President Xi Jinping broke his silence on Biden’s election victory, sending the U.S. president-elect a message that he hopes to “manage differences” and focus on cooperation between the world’s two largest economiesThe Trump administration is close to issuing a list of 89 Chinese aerospace and other companies that would be unable to access U.S. technology exports due to their military ties, Reuters reportedChina’s imports of U.S. goods under the phase-one trade deal slowed last month after hitting a high in September, leaving the full-year target well out of reachA panel of OPEC+ ministers couldn’t reach an agreement on whether to delay January’s oil-output increase, leaving the matter unresolved before a full meeting of the cartel and its allies on MondayBank of Korea Governor Lee Ju-yeol said the economy is expected to shrink less this year despite a resurgence of the coronavirus, while issuing a warning over rapid won gains that could undermine the recovery; the central bank board kept its key rate steady on Thursday and upgraded its growth forecastsTurkey took a further step toward mainstream economic management by abolishing a rule that compelled lenders to extend credit and buy government debtAsia:Foreign investors are piling money into major Asian equity markets outside of China at the fastest pace in seven years this quarterThe International Monetary Fund’s October acknowledgment of the case for temporary debt monetization in Asia marked yet another example of how the pandemic has upended economic orthodoxyChina’s economic recovery stabilized in November, underpinned by solid global demand for exports ahead of the Christmas period and the stock market’s gain to its highest since 2015China confirmed it’s compiling a global watch list of Taiwanese independence backers it plans to “punish”Hong Kong Chief Executive Carrie Lam defended Beijing’s sweeping actions to exert greater political control over Hong Kong while outlining steps aimed at interlocking the two economies; she also said Hong Kong will expand the scope of the China stock connect programChina is very likely to exit from some of its stimulus measures as the economy improves, a leading state newspaper said on its front page Thursday; the central bank said it will maintain normal monetary policy for as long as possibleThe foreign ministers of China and Japan agreed at a meeting in Tokyo to lift some virus-related travel restrictions by the end of the monthChina will likely return to a more “proper” range of economic development next year, Premier Li Keqiang saidThe U.K. is considering a ban on the installation of Huawei Technologies Co. 5G equipment as soon as next year to appease hawks pushing for tighter restrictions on the Chinese network equipment makerChina is set to impose anti-dumping duties of more than 100% on Australian wine from this weekend, adding to a series of sweeping trade reprisals this year and further escalating tensions with CanberraSouth Korea’s stocks hit a record high as improving trade data and the earnings outlook boosted investor confidence; early trade data showed exports extending their recovery in NovemberHousehold debt rose 2.7% to 1,682.1 trillion won in the third quarter, the fastest pace since 2016The nation’s exporters see the won as too strong and cited currency volatility as one of their key concerns for next year, according to a trade group surveyIndia stocks rose to a fresh record as foreign net buying was also set for a monthly recordIndia’s key manufacturing exports may lose market share to a China-backed Asian trade blocIndian banks are making fresh loans at the slowest pace in at least three yearsConcern about the depth of India’s recession is slowly being replaced by optimism that a recovery is taking holdIndia entered an unprecedented recession with the economy contracting 7.5% last quarter from a year ago due to the lingering effects of lockdownsIndonesia is planning to shorten the duration of the year-end holiday to avoid mass gatherings suspected of triggering a recent spike in casesThe country’s lenders are pushing back against central-bank pressure to further lower interest rates for their customersIndonesia’s central bank will stay focused on supporting economic growth, even as inflation is expected to remain low due to weak demand, Governor Perry Warjiyo saidIndonesia’s tax collections from the production sectors are still “under deep pressure” amid the pandemic, Finance Minister Sri Mulyani Indrawati saidThailand’s trade indicators show a gradual recovery in many areas, according to the Commerce Ministry’s Trade Policy and Strategy Office; exports fell more than expected in OctoberThousands of pro-democracy protesters in Thailand gathered outside the main office of the nation’s most valuable lender, in which King Maha Vajiralongkorn is the biggest shareholder, as they push for more transparency and accountability from the monarchyThailand’s manufacturing production fell 0.54% year-on-year in October, less than economists’ forecastThailand must check the gains in its currency as it makes it harder for exporters to compete in the global market, according to the nation’s largest industry groupEconomists have slashed their 2020 outlook for the Philippines by more than any other Southeast Asian nation as it struggles with one of the region’s worst coronavirus outbreaksThe Philippine government can further loosen movement curbs before year-end to support a recovery from recessionBudget deficit was 61.4 billion pesos ($1.3 billion) in October, according to the Bureau of the TreasuryThe Philippines plans to offer total 120 billion pesos of treasury bills and bonds in December, Bureau of the Treasury says in memorandum to dealersMalaysia Prime Minister Muhyiddin Yassin survived a key test of his leadership on Thursday when he won enough support in parliament for his 2021 budgetOctober consumer prices fell 1.5% from a year earlier, the Department of StatisticsPalm oil exports fell by 18.66% m/m during Nov. 1-25, according to Intertek Testing ServicesExports rose 0.2% in October; median estimate was for a 0.4% declineMalaysia has no current plans to extend a tax exemption on crude palm oil exports that’s set to end on Dec. 31, the Ministry of Plantation Industries and Commodities saidA senior U.S. military officer who oversees intelligence gathering for the Indo-Pacific Command made an unannounced visit to Taiwan, Reuters reportedTaiwan’s economy grew 3.92% y/y in 3Q, compared with 3.3% estimateTaiwan raised its forecast for growth this year as stronger-than-expected international demand for technology products shielded the economy from the global slowdownAn informal U.S.-led alliance to provide an alternative to China’s Belt and Road Initiative will provide greater transparency to countries seeking funding to develop their infrastructure, Taiwan’s finance minister saidU.S. National Security Adviser Robert O’Brien told Vietnamese leaders they must curb illegal re-routing of Chinese exports and purchase more U.S. goods such as liquefied natural gas and military equipment in order to avoid punitive American tariffsVietnam reported its slowest inflation this year while exports rose in November even as the coronavirus pandemic continues to hinder trade activitySri Lanka’s central bank kept borrowing costs unchanged for a third straight meeting, counting on fiscal measures to provide stimulus to an economy at risk from a new wave of Covid-19 infectionsSri Lanka’s long-term foreign currency debt rating was downgraded by Fitch to CCC from B-The government of Afghanistan and the rebel Taliban movement have agreed on procedural rules for peace talks to end the country’s 19 years of conflictEMEA:Turkey’s central bank raised the amount of lira and FX deposits that commercial lenders must park at the monetary authority, according to a decree published in the Official GazetteThe country is lengthening its bond maturities on foreign and local markets as it seizes on investor optimism after President Recep Tayyip Erdogan’s economic revamp earlier this monthEuropean Union foreign-policy chief Josep Borrell highlighted the possibility of tougher EU sanctions against Turkey over its activities in the eastern Mediterranean, saying the bloc’s leaders will tackle the matter at a Dec. 10-11 meetingTurkey’s new economic managers are racing to reverse the interventionist policies spearheaded by President Recep Tayyip Erdogan’s son-in-law, but their market-friendly U-turn could initially mean more volatility for the liraThe leaders of Poland and Hungary, who effectively vetoed the European Union’s $2 trillion spending package recently, are meeting as pressure builds on them to relent on their opposition to tying funding to upholding the rule of lawSerbia is making a rare trip to the dollar bond market, raising 10-year debt to partly redeem its last outstanding notes in the currency due within a yearRomania returned to international debt markets, with its fourth publicly syndicated transaction this year, as the country seeks to fund next year’s spending just before a crucial ratings decision and a general electionSouth African inflation unexpectedly accelerated in October to the highest rate in seven months, driven by food, non-alcoholic beverages, housing and utilitiesThe nation’s business confidence jumped to the highest level in more than two years in the fourth quarter as further easing of lockdown restrictions spurred a resurgence in activity but economic risks could weigh on sentiment in the new yearThe Public Investment Corp., Africa’s biggest fund manager, is willing to help South African power utility Eskom Holdings SOC Ltd. resolve its debt crisis, Finance Minister Tito Mboweni said at the Bloomberg Capital Markets Focus virtual event TuesdaySouth Africa can’t implement a pay deal with public servants because it would precipitate a fiscal crisis, Finance Minister Tito Mboweni saidStronger African economies don’t need debt relief from bondholders, whose money will be crucial to help finance the recovery of the continent, according to Senegal Economy and Planning Minister Amadou HottNigeria’s central bank held its benchmark interest rate to allow previous cuts to flow through the economy, saying Africa’s largest economy should exit its recession by the end of this yearThe nation’s official exchange rate should not be determined by the parallel market where the naira value has weakened to a three-month lowAn attack by Boko Haram Islamist insurgents on rice farmers in Nigeria’s northeast left at least 110 of them dead, a United Nations official saidAfrica’s stocks and bonds are starting to win over investors scouring some of the developing world’s most beaten-down markets for returnsA major battle for control of Ethiopia’s Tigray state capital appears imminent and fears are mounting that numerous civilians who are unable to escape the fighting could be caught in the crossfireEfforts by African Union envoys to quell a civil conflict in Ethiopia have foundered, with Prime Minister Abiy Ahmed eschewing negotiations with the dissident Tigray stateZambian inflation quickened for the third straight month in November to a four-year high propelled by food and non-food itemsDubai’s government raised $1.5 billion by reopening existing debt instruments, data compiled by Bloomberg showThe United Arab Emirates abolished the need for companies to have Emirati shareholders, local media reported, in a major shake-up of foreign ownership laws aimed at attracting investment into an economy reeling from the coronavirus and a decline in oil pricesOman, one of the weakest sovereigns in the Gulf Arab region, returned to the dollar debt market as a rally in its bonds that were issued about a month ago enabled it to lock in cheaper ratesSaudi Arabia denied reports about a meeting between Crown Prince Mohammed Bin Salman and Israeli officials during a visit by the U.S. Secretary of State Michael Pompeo to the kingdomThe Saudi central bank has extended a loan deferral program to help small businesses cope with the fallout of the coronavirus pandemic until the end of the first quarter next year.Israel’s government instructed the military to prepare for a possible U.S. strike against Iran during the remainder of President Donald Trump’s term, Axios reported, citing unidentified Israeli officialsIran accused Israel and the U.S. of being behind the assassination of one of its top nuclear scientists on Friday and vowed revengeLebanon’s President Michel Aoun said a forensic audit at the nation’s central bank has become a requirement for talks with the International Monetary Fund, days after an audit firm hired to do so quit over lack of dataKenya’s central bank held its key interest rate for the fifth straight meeting as the impact of the coronavirus pandemic in East Africa’s largest economy started easing in the second half of the yearLatin America:Brazil surprised analysts with stronger-than-expected employment and budget numbers for October, a sign that the economic recovery seen in the past few months is gaining speed in the beginning of the fourth quarterAnnual inflation accelerated to 4.22% in mid-November, above the official target, amid higher prices for food and transportationEconomists raised their forecasts for both inflation and the key interest rate next yearMembers of Brazil’s economic team see odds of reforms being approved next year growing thinner by the day, according to people familiar with the matterCentral bank president Roberto Campos Neto said policymakers are relatively comfortable with inflationBrazil may sell external bonds before the end of the year, the Treasury saidSao Paulo state is considering whether to reimpose more severe restrictions on the movement of people amid the Covid-19 pandemicBrazil’s two biggest cities will be governed by centrist mayors who defeated President Jair Bolsonaro’s candidates in nationwide municipal elections, consolidating the return of more moderate political actors following a conservative wave that swept the country two years agoMexico’s economy leaped 12.1% in the third quarter from the previous three months, the fastest pace in at least three decades amid a surge in manufacturingAnnual inflation slowed to 3.43% in mid-November, less than expected by all analysts in a Bloomberg survey, and below the ceiling of the target rangeNation recorded its highest trade surplus since at least 1984 in October, as exports to the U.S. boomed while internal demand stayed weakCentral bank expects economy to shrink 8.9% this year versus its prior forecasts of between 8.8% and 12.8%Mexico’s central bank should be able to resume its cycle of interest rate reductions after the first quarter of 2021 once the slowdown of inflation is confirmed, Deputy Governor Jonathan Heath saidArgentina’s Neuquen province reached a debt agreement with creditors, Governor Omar Gutierrez saidEconomic activity increased 1.9% in September from August, in line with economists’ expectationsChile’s senate passed a government-backed bill allowing people to tap their pension savings for a second time, unleashing billions of dollars into the economyUnemployment rate fell for the third straight month to 11.6% in the three months through OctoberPeru sold $4 billion of bonds, including securities coming due in 100 years, just days after political turmoil gripped the country in the wake of former President Martin Vizcarra’s impeachmentThe century bonds were sold at the lowest yield for an emerging-market government everColombia’s government estimates the economy will rebound 11.8% in 2021, after an estimated contraction of 6.8% this year, Finance Minister Alberto Carrasquilla saidThe central bank left its key interest rate unchanged at 1.75% as the strong recovery from the coronavirus slump suggests the economy may not need extra stimulusEcuador’s government is aiming to approve by mid-December an anti-corruption bill that is key to securing the disbursal of $2b by the IMFSuriname extended the expiration date of its consent solicitation, which seeks to delay payments on the nation’s 2023 and 2026 dollar bonds, until Dec. 4 at 5 p.m. ETFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
A GoFundMe page has been set up to support the dad and three sisters following the tragic death.
Tokyo Stock Exchange President and Chief Executive Officer Koichiro Miyahara has decided to resign over a system failure that caused an unprecedented all-day suspension on the bourse last month, the Nikkei business daily reported on Monday. Akira Kiyota, CEO of Japan Exchange Group (JPX), which operates the Tokyo Stock Exchange, will stay on and also serve as president of the Tokyo bourse, the Nikkei said. Kiyota is due to hold a news conference at 3:30 p.m. (0630 GMT) following a briefing by the Financial Services Agency, which is widely expected to issue a business improvement order after the system failure.
Victoria has recorded Australia's first coronavirus death in a month, taking the state's toll to 820, and the national figure to 908.
The Cordless Power Tools Market will grow by USD 6.17 bn during 2020-2024
Fortnite fans, rejoice! (And while you’re at it, show off your best emotes!) Starting now, a special Fortnite Nintendo Switch bundle will be available to purchase at select retailers at a suggested retail price of $299.99. The bundle represents a great value, and includes a uniquely decorated Nintendo Switch system with special art on the system and Nintendo Switch dock, a yellow Joy-Con (L) and blue Joy-Con (R), the Fortnite game pre-installed, 2,000 V-Bucks, and a download code for The Wildcat Bundle. The Wildcat Bundle is an in-game pack that includes cosmetic items like the Sleek Strike Back Bling and the Wildcat Outfit. For a list of participating retailers, visit https://www.nintendo.com/holiday/deals.
(Bloomberg) -- Turkey’s coronavirus-battered economy fared better than most peers in the third quarter, driven by a stimulus campaign that sacrificed the lira and price stability.The $740 billion economy likely outperformed all Group of 20 nations except for China, thanks in part to a combination of interest-rate cuts, fiscal spending and a government-led credit push. Data on Monday will show gross domestic product rose 4.8% from a year earlier, according to the median of 14 forecasts in a Bloomberg survey.To help businesses and consumers ride out the the pandemic, the Turkish government pushed banks to ramp up lending. Loan growth remained robust throughout the summer, slowing toward the end of the third quarter.At the same time, the central bank injected liquidity by scooping up government bonds, and delivered 1,575 basis points of easing until rate cuts stopped in June, leaving Turkey’s inflation-adjusted borrowing costs among the lowest in the world. The weighted average cost of funding dropped as low as 7.34% in July, then started growing for the rest of the quarter to end at 11.1%.With the lifting of most virus-related restrictions imposed in the previous quarter, domestic tourism gained pace, and airports were opened to most foreign tourists.The picture for the fourth quarter is less rosy as Turkey began reimposing limitations following a virus surge and replaced its central bank and economy chiefs. President Recep Tayyip Erdogan pledged to support his new economic managers with “bitter-pill” policies that conflict with his views -- but only after the currency hit record lows, keeping headline inflation in double digits. The lira has lost 24% against the dollar this year.The central bank’s new governor, Naci Agbal, started his tenure by raising interest rates by the most in over two years, a move that could damp demand.“The fourth quarter will point to a slower growth picture.”said Enver Erkan, an Istanbul-based economist at the Tera Yatirim investment house.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Datto Holding Corp. ("Datto") (NYSE: MSP), the leading global provider of cloud-based software and technology solutions purpose-built for delivery by managed service providers (MSPs), today announced several key sales leadership appointments across Asia Pacific (APAC) and Europe, the Middle East and Africa (EMEA). As the MSP technology company, Datto expanded its sales leadership team to help empower MSPs with the IT resources and added expertise required to meet the increasing and accelerating digital transformation needs of the (Small and Medium Enterprises) SME market in 2021.
(Bloomberg) -- The golden age of the City of London began with a big bang. It’s ending with a whimper.Fears that the finance powerhouse that emerged from Margaret Thatcher’s 1986 deregulation -- known as the Big Bang -- will gradually be dismantled have deepened with a recent flurry of announcements about some business heading to the European Union as Britain enters the last month of the Brexit transition period without a financial-services deal in sight.The latest shift comes Monday at 8 a.m., when London Stock Exchange Group Plc’s stock trading platform Turquoise Europe goes live in Amsterdam. It joins other trading venues like Cboe Europe and Aquis Exchange Plc setting up shop on the continent as part of their no-deal Brexit plans, a contrast with the late 1980s, which ushered in a period where London became the place to be for equities trading.“The City of London has been thrown to the lions,” said Alasdair Haynes, chief executive officer at Aquis, adding that the U.K. could lose even more stock trading than it expects if giant U.S. asset managers like BlackRock Inc. decide to trade in Paris and Amsterdam.Last week, Goldman Sachs Group Inc., said it had applied to French regulators to open its SIGMA X Europe stock platform in Paris from Jan 4. Goldman partner Elizabeth Martin said that she expects most of the 8.6 billion euros ($10 billion) a day in London-based European share trading to shift to the bloc.Aquis has already established a platform in the French capital. It went live with more than 1,700 European shares earlier this month. Other trading venues like Liquidnet have outposts in Dublin to ensure they can service clients.“We are expecting a big bang on Jan. 4,” said David Howson president of Cboe Europe, the largest of London’s stock trading platforms, which opened its own venue in the Dutch capital last year. “The industry has never had to move this much flow overnight.”It’s not just stock dealing that’s shifting. Brussels disappointed London swap traders last week when its markets regulator said that derivatives need to change hands on EU-based platforms from January. That means trillions of dollars of transactions is at risk of being transacted outside of the U.K.Land GrabThe bloc has already made a land grab for London’s euro swaps clearing business, urging its banks to accelerate a shift to Europe. Deutsche Boerse AG’s Eurex Clearing has built up a 19% share of the business over recent years although it is dwarfed by London’s market share.In recent weeks, Goldman and JPMorgan Chase & Co. have indicated that between them more than 300 staff will move to continental cities. Goldman is shifting as much as $60 billion in assets to Frankfurt, while JPMorgan is moving about $230 billion to the German city.Consultancy EY said in a report last month that the 7,500 roles and 1.2 trillion pounds ($1.6 trillion) in assets that have moved already may just be the beginning. It expects further shifts in personnel and assets once the U.K.’s transition period officially ends.That bodes ill for the U.K., where finance employs more than one million people, makes up about 7% of the economy and accounts for more than a 10th of all tax revenue. Despite that, the industry has garnered little of the attention bestowed on fishing, which makes up just 0.1% of the U.K. economy, in the protracted Brexit negotiations.Talent PoolTo be sure, London’s long-standing advantages of the English language and legal system and a deep talent pool mean it won’t be overtaken anytime soon. And a last-minute agreement with the EU on financial services could still happen.The LSE said it would call off its plan for Turquoise Europe if the European Union declared that Britain can host trading services for EU shares, part of a process known as equivalence. Such an agreement remains a possibility.But time is running out. And without an agreement London’s status as Europe’s financial hub will no longer be in its hands.“The kingmakers here will be the Americans,” Aquis CEO Haynes said. “There’s no guarantee they will still trade in London. They will follow the liquidity.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Oil dropped below $45 a barrel as a consensus within OPEC+ to postpone an output hike planned for January remained elusive ahead of a meeting of the cartel’s power brokers later on Monday.Futures in New York declined 1.3% in Asian trading. Most participants in an informal discussion of OPEC+ ministers on Sunday supported keeping production curbs at current levels into the first quarter, said one delegate, although there was opposition from the United Arab Emirates and Kazakhstan.The Trump administration, meanwhile, is poised to add four Chinese companies including explorer China National Offshore Oil Corp. to a list of firms owned or controlled by China’s military, Reuters reported. Worsening relations between the world’s two largest economies may threaten energy demand.Oil is still set for the biggest monthly gain since May as Covid-19 vaccine breakthroughs raised optimism for a long-term rebound in fuel consumption. Unless the existing OPEC+ agreement is revised this week, however, producers will restart about 1.9 million barrels a day of halted output, potentially pushing the global market back into surplus.While a majority of watchers are expecting a three-month delay to the planned output increase, a recent price rally may complicate talks. Some producers such as Iraq -- which is seeking an upfront payment for its crude -- are facing a cash squeeze and are keen to pump more.“The argument that might be going on within OPEC centers around the big improvement in the demand outlook for 2021,” said Michael McCarthy, chief market strategist at CMC Markets. “The expectation is that Asian demand will lead the way and drive the improvement in the market, particularly with Europe and the U.S. potentially facing further Covid containment measures.”Vaccine optimism is also having an impact on oil’s forward curve. Brent’s prompt timespread flipped into backwardation at the start of last week -- a sign that concerns about over-supply have eased -- although it moved back into contango on Friday.“With the strong rally we have seen in the flat price and timespreads more recently, I am sure some members would question: why roll over cuts?” said Warren Patterson, head of commodities strategy at ING Group. “If Brent were still trading closer to $40, I think there would be less hesitation, as it would be pretty clear that OPEC+ needs to do more.”See also: OPEC Faces Seismic Demand Split as Cartel Plots Next MoveChina is continuing its robust rebound from the virus-induced crash. An official gauge of manufacturing activity rose faster that expected in November, while at least one fuel supplier is already gearing up for an expected surge in air travel ahead of the Lunar New Year holiday in February.The Middle East, meanwhile, is once again seeing rising tension. An oil refinery in Iraq’s north was hit by a rocket, causing a fire, according to al-Arabiya television. That comes after Iran accused Israel and the U.S. of being behind the assassination of one of its top nuclear scientists Friday, vowing revenge.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Bitcoin’s recent tumble cleared some speculative “froth” but further declines remain possible, according to JPMorgan Chase & Co.Momentum traders such as commodity trading advisors and other quantitative funds likely played a big role in the slide by unwinding long Bitcoin futures positions, strategists led by Nikolaos Panigirtzoglou wrote in a Nov. 27 note.“The previous froth in momentum traders’ positioning has been cleared to a large extent,” they wrote, while adding momentum signals will continue to deteriorate unless Bitcoin recovers quickly.The largest cryptocurrency slid as much as 14% on Nov. 26, not long after nearing its December 2017 record high of $19,511. Profit-taking and concern about new regulations were among the factors cited for the slump, which revived questions about whether digital assets are in an unsustainable bubble.Bitcoin is still up about 160% so far this year. Proponents argue that a broadening investor base and the need for additional ways of diversifying portfolios amid the pandemic point to further gains.“Momentum traders have room to further propagate” the Bitcoin decline, the JPMorgan strategists said.They added that investments into and out of the Grayscale Bitcoin Trust will be key, referring to a fund that invests in and tracks the price of Bitcoin. If flows into the trust wane, the Bitcoin price could suffer if momentum traders keep backing away, according to the strategists.Read more: Guggenheim Fund Reserves Right to Put Up to 10% in Bitcoin Trust“A failure by the Grayscale Bitcoin Trust to receive additional inflows over the coming weeks would also cast doubt to the idea that institutional investors such as family offices have embarked on a trend of embracing Bitcoin as digital gold replacing traditional gold as a long-term investment,” the strategists wrote.Bitcoin climbed over the weekend and was up 1.3% to about $18,512 as of 1:19 p.m. in Tokyo on Monday.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Cyber Monday fireplace deals for 2020 have arrived, compare the latest Cyber Monday electric fireplace & fireplace TV stand sales right here on this page Cyber Monday fireplace deals for 2020 are underway. Compare the best discounts on Touchstone, Dureflame, Amerwiood & more. Links to the latest deals are listed below.Best Fireplace Deals: * Save up to 68% on a wide range of fireplaces at Walmart \- click the link to get the latest deals on wall-mounted, real-flame, freestanding & more fireplaces * Save up to $240 on fireplace TV stands from brands like Ameriwood Home & Mainstays at Walmart - find deals on fireplace TV stands for 65-inch, 70-inch and 80-inch TVs and more * Save up to $190 on top-rated fireplaces & fireplace TV stands at Amazon \- compare the latest fireplace deals on top-rated brands like Duraflame, TURBRO, R.W.FLAME, Ameriwood & Touchstone * Save up to 45% on freestanding fireplaces, wall-mounted fireplaces & more at Target.com * Save up to $241 on fireplaces at Overstock.com \- click the link for live deals on electric, gel, biofuel, natural gas, & wood fireplaces * Save up to $230 on premium fireplace TV stands at Belk.com \- check live prices on Bridgeport Designs fireplace TV stands for 48-inch, 50-inch, 60-inch TVs and more * Save up to $200 on fireplaces at TractorSupply.com \- check out live deals on TV stand fireplaces, mounted fireplaces, & freestanding fireplaces * Save up to 68% on a wide range of electric fireplaces at Walmart \- get the latest deals on electric fireplaces from brands including Costway, Cambridge, Northwest & more * Save up to $100 on a variety of top-rated electric fireplaces at AmazonWant some more deals? Check out Walmart’s Cyber Monday sale and Amazon’s Cyber Monday deals to view even more live offers. Consumer Walk earns commissions from purchases made using the links provided.About Consumer Walk: Consumer Walk reports the latest online retail news. As an Amazon Associate and affiliate Consumer Walk earns from qualifying purchases.Contact: Andy Mathews (email@example.com)
(Bloomberg) -- A panel of OPEC+ ministers couldn’t reach an agreement on whether to delay January’s oil-output increase, leaving the matter unresolved before a full meeting of the cartel and its allies on Monday.Most participants in an informal online discussion on Sunday evening supported maintaining the production curbs at current levels into the first quarter, said a delegate. Yet while Russian Deputy Prime Minister Alexander Novak spoke in favor of postponing the supply hike that’s currently scheduled to happen in the new year, the United Arab Emirates and Kazakhstan were opposed, said the delegate, asking not to be named because the talks were private.Brent oil declined 1.2% to $47.61 a barrel in trading on Monday at 8:50 a.m. in Dubai. Prices have advanced 27% this month and are set for the biggest monthly gain since May.Unless the agreement is revised this week, they will restart about 1.9 million barrels a day of halted output, potentially pushing the global market back into surplus and undermining the recent surge in crude prices.“Saudi Arabia will have to lean hard to get an agreement,” said Mohammad Darwazah, an analyst at research firm Medley Global Advisors LLC. “There have been particularly acute rumblings of dissatisfaction with the status quo from Abu Dhabi.”The Organization of Petroleum Exporting Countries and its allies, a 23-nation network that pumps more than half the world’s crude, made vast production cuts during the depths of the pandemic to offset a historic collapse in fuel demand. The alliance had planned to ease some of those curbs at the start of 2021, in anticipation of a global economic recovery.Last-Minute TalksSaudi Arabia and Russia summoned a small group of OPEC+ countries for last-minute talks this weekend, in an apparent effort to forge a consensus before making a final decision at a conference scheduled for Monday and Tuesday. Despite the lack of an agreement so far, negotiations in the coming days could still result in a deal, said another delegate.There have been numerous signals that the cartel was leaning toward a delay. Last week, Algerian Energy Minister Abdelmajid Attar -- who this year holds OPEC’s rotating presidency -- told Bloomberg News that the group must remain cautious because the surge in oil prices to above $45 a barrel in New York this week could prove fragile. OPEC technical experts also considered data that pointed to the risk of a new oil surplus if the production increase goes ahead.Prior to this weekend, a clear majority of OPEC+ watchers were expecting the group to keep pumping at current levels for a few months longer due to lingering uncertainty about the strength of demand. However, the decision has been clouded by public complaints from Iraq and Nigeria, and private discord with the UAE, all of which have chafed at their output limits this year.“As usual, it will all be down to the meetings behind closed doors on Monday and Tuesday,” said Harry Tchilinguirian, head of commodity markets strategy at BNP Paribas SA. “We expect that Saudi Energy Minister Abdulaziz Bin Salman will be at the forefront of preserving group cohesion, to ultimately deliver the much expected delay to the tapering of supply cuts due next year.”(Updates with oil prices in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.