13 November – 17 November
Kenya Airways will be almost 90 per cent owned by the Kenyan government and a group of 11 local banks under a restructuring deal unveiled on Monday after the terms of a debt-for-equity swap for the lossmaking airline were finalised.
Uber’s US rival Lyft is expanding outside of its home market, taking the competition between the two companies into a new arena at a time when both ride-hailing companies are in separate fundraising talks.
US equities indices were set to extend last week’s losses, while the dollar index inched higher ahead of another critical week in lawmakers’ efforts to overhaul the US tax code.
Russia’s economy grew by 1.8 per cent in the third quarter compared with the same period last year, a marked slowdown from the 2.5 per cent the Federal Statistics Service had reported for the second quarter.
Buffalo Wild Wings soared 26 per cent higher in after-hours trading on Monday following a report that private-equity firm Roark Capital Group had made a takeover bid for the beer-and-wings casual dining chain valued at more than $2.3bn.
The International Energy Agency on Tuesday lowered its oil demand forecast for this year and next, saying the rally in prices since June was likely to crimp consumption.
The common currency got a boost on Tuesday after Germany reported stronger than expected economic data that provided the latest evidence of the acceleration of the eurozone’s biggest economy.
Italy’s economy expanded at a quicker clip than economists forecast in the third quarter as the eurozone economy continues its rebound from the troubles it faced in 2012-13.
Asia Pacific equities were down on Wednesday following a weak lead-in from Wall Street, where the S&P 500 index fell 0.2 per cent on Tuesday, while an overnight tumble in oil prices hit energy stocks.
General Electric has lost its position as the largest US manufacturer by market capitalisation, held since 1980, following a 13 per cent slide in its share price over the past two days.
Venezuela has suffered what is expected to be the first in a cascade of defaults on more than $60bn of international bonds after missing several interest payments.
Sweden and Norway’s currencies were testing levels usually seen only during financial crises on Wednesday, despite their healthy economies, as weak data and tumbling commodity prices exacerbated the effects of the euro’s renewed rally.
The energy sector sank to the bottom of the S&P 500 on Wednesday, with lower oil prices pressuring shares of companies including Exxon Mobil, Halliburton and Schlumberger.
The holiday season does not officially kick off in the US until next week, but some stockings hung up on Wall Street have already received a lump of coal.
The value of US Treasuries held by China and Japan, the US’s two largest creditor nations, dipped in September alongside a selloff in the country’s debt.
South Africa has called a crisis meeting of regional leaders to discuss the military takeover in Zimbabwe, amid fears of instability spilling over the border. Soldiers continued to round up allies of the 93-year-old president, Robert Mugabe, as member states of the Southern African Development Community called on the army to avoid an “unconstitutional” change in government and urged “calm and restraint”. They will meet in Botswana later today, at the request of Jacob Zuma, the chair of SADC and president of South Africa.
Singapore’s non-oil exports grew at a faster pace than expected in October as outbound shipments to China jumped.
India’s rupee gained as much as 1.1 per cent to the strongest level in a week on Friday after Moody’s upgraded the country’s sovereign rating on expectations of continued progress for economic and institutional reforms.
It has been a miserable year for the holding companies that own the world’s largest advertising groups, with shares in WPP, Publicis, Omnicom and Interpublic Group all down sharply over the past 12 months.
Shares in South Korean air carriers jumped on Friday after the government said domestic airlines will be allowed to pass higher fuel costs on to customers.