What happened Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading higher amid a broad-based rally on Wednesday afternoon, after a JPMorgan analyst upgraded the stock ahead of Thursday's earnings report.
What happened Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading higher amid a broad-based rally on Wednesday afternoon, after a JPMorgan analyst upgraded the stock ahead of Thursday's earnings report.
The veteran broadcaster enjoyed a long career at the BBC and was well known for hosting programmes such as Grandstand and Breakfast Time.
(Bloomberg) -- Oil extended its slide to a second day on a toxic cocktail of surging coronavirus cases in the U.S. and Europe, dwindling prospects for pre-election stimulus in Washington and a steady resumption of supply from Libya.Futures in New York fell toward $39 a barrel after dropping 1.9% on Friday. The U.S. reported record infections for a second straight day, while Italy approved a partial lockdown and Spain announced a national curfew. Democrats and Republicans accused each other of “moving the goalposts” in interviews on CNN as hopes for a deal before next week’s election appeared to be in tatters.The worsening demand outlook is coinciding with Libya’s push to almost double crude output, which is gaining momentum as rival sides prepare for a new round of talks aimed at ending a nearly decade-long conflict. A force majeure has been lifted on the Ras Lanuf and Es Sider ports, and the country’s state oil company said output would surpass 1 million barrels a day in four weeks.A little more than six months after Covid-19 sent oil prices into a tailspin, a second wave is threatening to take another bite out of energy demand. There are several reasons why a repeat of April’s bloodbath is unlikely, however. Flagging consumption isn’t coinciding with a price war, governments may be less likely to impose major lockdowns and demand in Asia is holding up.See also: It’s Asia to the Rescue Again as Oil Demand Falters Elsewhere“Demand issues tied to resurgent virus cases have taken the market’s attention for the past few weeks,” said Daniel Hynes, a senior commodity strategist at Australia & New Zealand Banking Group Ltd. “The supply side issues have now certainly started to gain a little bit more prominence with Libya suggesting that their supplies will rise significantly over the next couple of months. That presents a new headwind for OPEC.”Brent’s three-month timespread widened to 97 cents a barrel in contango - where prompt prices are cheaper than later-dated ones - from 86 cents on Friday. The change suggests concerns about over-supply have risen slightly.If virus cases keep rising in Europe and the U.S., it’s possible the OPEC+ alliance will push back a planned easing of production cuts from January. Russian President Vladimir Putin last week signaled openness to delaying the taper. The group will decide on whether to stick to the current plan at a meeting scheduled for Nov. 30-Dec. 1.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.
Harvest Technology Group Ltd (ASX:HTG) shareholders might be concerned after seeing the share price drop 14% in the...
(Bloomberg) -- Amazon.com Inc. secured relief in its dispute with Future Group after a court put a temporary hold on Future’s $3.4 billion sale deal with Indian billionaire Mukesh Ambani’s Reliance Industries Ltd.An arbitration court in Singapore restrained Future Retail Ltd. and its founders from going ahead with the sale of assets, according to people with knowledge of the matter, who asked not to be identified as the proceedings were private. The ruling was on Amazon’s request for an interim order before main tribunal hearings start.In an emailed statement late Sunday in Mumbai, Amazon said it got all the relief it sought, without providing specifics.“We welcome the award of the Emergency Arbitrator,” Amazon said. “We remain committed to an expeditious conclusion of the arbitration process.”Reliance Retail Ventures Ltd. said it entered the transaction after proper legal advice. The company “intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay,” it said in a statement late Sunday. Representatives for the Future Group declined to immediately comment when reached outside of business hours in India.The ruling marks some respite for the American e-commerce giant as it seeks to halt India’s biggest retail deal that can give Ambani, Asia’s richest man, unparalleled dominance in the race for India’s estimated $1 trillion retail market. Ambani’s Reliance is already India’s biggest brick-and-mortar retailer and has ambitious plans for the online segment, where it’ll take on Amazon.Battle LinesAmazon drew the battle lines earlier this month when it accused its partner, Future Group, of violating a contract by agreeing to a buyout by Reliance. The deal was a bailout for the Future Group, which could once again face a severe cash crunch amid intensifying competition and the pandemic-induced lockdown.A spokeswoman for the Seattle-based e-tailer told Bloomberg on Oct. 8 that it had initiated steps to enforce its contractual rights, without giving more details. The deal between Reliance and Future, announced late August, is awaiting regulatory approvals, which won’t necessarily be delayed by the Singapore court’s order.Amazon agreed to purchase 49% of one of Future’s unlisted firms last year, with the right to buy into flagship Future Retail after a period of between three and 10 years. But about two months ago, rival Reliance announced it would buy the retail, wholesale, logistics and warehousing units of the indebted Future Group, almost doubling its footprint.In May, Amazon was considering increasing its stake in Future’s retail unit to as much as 49%, people familiar with the matter said at the time. But that transaction didn’t materialize in time for Future, forcing it to cut a deal with Ambani’s refining-to-retail conglomerate.Blocking Reliance’s rising stronghold on India’s retail sector is crucial for Amazon if it wants to dominate the only billion-people plus consumer market that’s still open to foreign firms.(Updates with comment from Reliance in the fifth 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.
(Bloomberg) -- Chile voted overwhelmingly on Sunday to draft a new constitution, launching a two-year struggle over first principles expected to blunt the neo-liberalism that has made it an investor favorite but plunged it into riots over inequality.With 87% of votes counted, a larger-than-expected 78.2% backed a fresh charter, a key demand of protesters who took to the streets last year in the largest civil unrest in decades. The current document dates back to the dictatorship of Augusto Pinochet.The result sets off almost two years of debate and uncertainty before a final vote on a new charter. Many investors fear that a new constitution means Chile will do away with the pro-business rules and fiscal discipline they say created one of Latin America’s most stable and prosperous economies. Protesters say that model -- enshrined in the current charter -- has left millions grappling with low wages, poor social services and injustices.“This plebiscite is not the end, it is the start of a road that we must travel together to agree a new constitution for Chile,” President Sebastian Pinera said in a national address Sunday evening.The referendum was one of several concessions that the government and lawmakers agreed to in order to quell riots that started last October. Sparked by a metro fare increase, the protests quickly spiraled into a broader social movement with grievances ranging from pensions to education. While pandemic-fighting lockdowns kept a lid on tensions most of this year, violent protests flared up again in recent weeks.Read more: Protesters Clash With Chile Police, Burn Church in SantiagoAbout 80% of voters also backed a constitutional convention of newly elected representatives to write up the charter, rather than a mixed convention with 50% of existing lawmakers.“This isn’t a triumph for political parties,” Paulina Astroza, a political analyst from Universidad de Concepcion, said in via Twitter. “Parties will have a huge challenge: they must modernize, clean up, be transparent, allow new leaderships and end with” their strongman tactics.What’s at Stake in Chile Debate Over New Constitution: QuickTakeAfter renewed violence in the run-up to the referendum, voting was peaceful and orderly, with many people lining up for hours to cast their ballot.Thousands later congregated at Plaza Italia, the Santiago square that has become the symbolic center of the protest movement, to celebrate. After initially using water cannons to deter the protesters, the police withdrew.“Until now the constitution has divided us,” Pinera said. “As of today, we must all collaborate so that the new constitution be a great framework for unity, stability and the future.”Two ThirdsChileans will vote again in April to elect delegates to the assembly in charge of writing the new text. To avoid more radical viewpoints from making it into the constitution, legislators agreed on a clause that all articles must be approved by two-thirds of the assembly members.Still, the difficulty in meeting that threshold means Chile could end up “with an excessively abbreviated constitution that would likely fail in bringing greater political stability,” Leonardo Suarez, head of research at brokerage firm LarrainVial, wrote in a report last week.Amid the constitutional process, Chile will also hold a presidential election in November 2021. With the center-left opposition deeply divided and the current government unpopular, the outcome is far from clear.On expectations that a peaceful vote may quell some of the unrest, some investors have started to bet again on the Chilean market.“While the medium-term political uncertainty on the back of the constitutional process and presidential election in 2021 might continue to cap market performance, we do believe that the momentum for the Chilean market is positive,” JPMorgan analyst Diego Celedon said in a note last week.(Updates with new count of vote in second paragraph and analyst in seventh 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.
The ceremony was held online on Sunday night.
Police said all 22 crew members were safe and well.
NSW weather: flood rescues, power blackouts and transport chaos as storms lash state. Emergency service receives 545 requests for help at weekend while wild weather forecast to continue throughout week with high winds and heavy rain
The United States on Sunday said a new humanitarian ceasefire will take effect on Monday in the conflict between Azerbaijan and Armenia over the enclave of Nagorno-Karabakh, even as fresh fighting erupted between the two sides. The latest ceasefire is due to take effect at 8 a.m. local time (12 a.m. EDT) on Oct. 26, the U.S. State Department and the governments of Azerbaijan and Armenia said in a joint statement."Congratulations to Armenian Prime Minister Nikol Pashinyan and Azerbaijani President Ilham Aliyev, who just agreed to adhere to a cease fire effective at midnight. Many lives will be saved," U.S. President Donald Trump wrote on Twitter.The announcement came after U.S. Secretary of State Mike Pompeo held separate meetings with the foreign ministers of Armenia and Azerbaijan in Washington on Friday."Those meetings were joined by the co-chairs of the OSCE Minsk Group, formed to mediate the conflict and led by France, Russia and the United States, which described them as "intensive discussions" on the ceasefire and the beginning of talks about core elements of a comprehensive solution.The Minsk Group said its co-chairs and the foreign ministers agreed to meet again in Geneva on Oct. 29.A senior administration official expressed confidence that this ceasefire would hold. "U.S. leadership with support from Russia and France brings additional hope that the ceasefire will lead to a lasting peace settlement," said the official.But the eruption of new fighting on Sunday and the collapse of two previous ceasefires brokered by Russia raised questions about the prospects for this fresh push to end the clashes in Nagorno-Karabakh, a part of Azerbaijan populated and controlled by ethnic Armenians.The fighting that broke out on Sept. 27 over the disputed territory has surged to its worst level since the 1990s, when some 30,000 people were killed.Local officials in Nagorno-Karabakh on Sunday accused Azeri forces of firing artillery on settlements in the areas of Askeran and Martuni during the night. Azerbaijan said its positions had been attacked with small arms, mortars, tanks and howitzers.Armenia accused Azeri forces of shelling civilian settlements. Baku denied killing civilians and said it was ready to implement a ceasefire, provided Armenian forces withdrew from the battlefield.The defence ministry of the Nagorno-Karabakh region said on Sunday it had recorded another 11 casualties among its forces, pushing the military death toll to 974.Earlier on Sunday during a meeting with defense officials, Azerbaijan President Ilham Aliyev accused Armenia of bombarding civilian sites and launching two ballistic missiles on the city of Ganja.Armenian President Armen Sarkissian accused Baku of being "aggressively stubborn and destructive".World powers want to prevent a wider war that draws in Turkey, which has voiced strong support for Azerbaijan, and Russia, which has a defence pact with Armenia.Differences over the conflict have further strained relations between Ankara and its NATO allies, with Pompeo accusing Turkey of fuelling the conflict by arming the Azeri side. Ankara denies it has inflamed the conflict.Sarkissian, in comments reprinted by the Armenpress news agency, called on "global players" to step in immediately to bring about a ceasefire and said Russia was "a trusted and pro-active mediator" between the conflicting sides.Aliyev said it was "very hazardous" for Armenia to want Russian military support in the conflict and third parties should not get involved militarily.Russian President Vladimir Putin has said he speaks to leaders of Armenia and Azerbaijan several times a day by phone, and that he hopes the United States will help Moscow broker a solution to the conflict.About 30,000 people were killed in a 1991-94 war over Nagorno-Karabakh. Armenians regard the enclave as part of their historic homeland; Azeris consider it illegally occupied land that must be returned to their control. (REUTERS)
Bruce Arians said in March that signing Brown was "not gonna happen."
Cameroon's so-called separatist Anglophone crisis erupted in 2016 as low-level protests over the real and perceived marginalization of Anglophones by the Francophone-dominated government.
In the days leading up to the Patriots' matchup with the 49ers, Cam Newton said he felt like he hadn't played up to the expectations he set for himself prior to this season. Newton played his worst game of 2020, completing 9 of 15 passes for a season-low 98 yards and three interceptions before being replaced by Jarrett Stidham in the fourth quarter. Stidham was 6 of 10 for 64 yards and an interception.
Chileans voted overwhelmingly in a landmark referendum Sunday to replace their dictatorship-era constitution, long seen as underpinning the nation's glaring economic and social inequalities.
New Mountain Capital announced that it has reached a definitive agreement with Aurobindo Pharma to acquire Natrol and combine it with Jarrow Formulas, another New Mountain Capital portfolio company. The transaction is expected to close by January 2021 subject to customary closing conditions and regulatory approvals.
"He’s going to burn it all down, sow more chaos and division because that’s where he succeeds," the president's niece predicted.
Journalists and politicians have praised Mr Bough following his death aged 87.
(Bloomberg) -- Violent winds are rattling Northern California, sending the risk of wildfires soaring and prompting the state’s largest utility to cut power to prevent live wires from toppling into dry brush and sparking blazes.PG&E Corp. has cut electricity to 225,000 homes and businesses in areas north of San Francisco earlier on Sunday and will turn off power to an additional 136,000 in areas including the East Bay and South Bay in the evening, impacting an estimated 1.1 million people as gusts exceeding 50 miles (80 kilometers) an hour swept through an area already bone-dry from heat and drought. Utilities in Southern California warned they may need to cut power, too.“This is the strongest event we have seen so far this year,” said Karleisa Rogacheski, a meteorologist with the National Weather Service in Sacramento. It’s some of most dangerous weather the state has seen since the Camp Fire erupted in 2018, killing 85 people, she said.PG&E said it may restore power starting Monday afternoon, though some customers may be left in the dark through Tuesday. By mid-afternoon Sunday, at least three blazes had broken out north of Sacramento, according to the California Department of Forestry and Fire Protection.The brutal winds, fires and blackouts are the latest blow for a state that’s been battered by violent weather and has already seen a record 4.1 million acres (1.66 million hectares) scorched this year. PG&E has previously cut power four times in 2020 to prevent falling wires from igniting blazes in a region that’s tinder dry from heat and drought. This round is the biggest yet as an estimated 4.2 million people are at risk from extreme fire conditions, according to the National Weather Service.The winds, fueled by a low pressure system in the Pacific Northwest, were gusting as high as 52 mph in Northern California at 10:30 a.m. local time. Gusts in canyons and atop ridges could hit 70 mph, just shy of hurricane strength.Fire fighters were battling three new blazes in Shasta County, including the Point Fire which had burned 275 acres and was 70% contained by about 6 p.m. Local time, Cal Fire said. The nearby Dersch Fire had burned at least 50 acres. Come Monday, humidity will be as low as 6% in Redding and just 5% in Grass Valley, according to the National Weather Service. It comes as the state is already riddled with dry brush and grasses due to some of the warmest temperatures record over the last nine months, according to the U.S. National Centers for Environmental Information.PG&E is cutting power in stages. It began at 10 a.m. local time Sunday in the Northern Sierra region and will continue through Monday evening, the company said. The outages will hit 36 counties that include the San Francisco Bay area, the Sierra Nevada foothills, the Central Valley and the Central Coast.The blackouts may hit densely populated parts of the San Francisco metropolitan area, including portions of Oakland, Berkeley and Marin County -- cutting power to many residents as they are working from home due to the coronavirus pandemic. The city of Berkeley advised residents living in the hills to evacuate due to the fire risk, according to a statement.In Southern California, Edison International said about 75,000 customers could lose power beginning Monday. That’s about 225,000 people based on the size of the average California household. Sempra Energy’s San Diego Gas & Electric Co. is considering about 21,000 outages.And Pacific Power, owned by Warren Buffett’s Berkshire Hathaway Inc., said it could switch off power in Northern California and Southern Oregon on Sunday due to the gusts, according to a statement.Much of the U.S. West is at risk from wildfires as dry weather and stiff winds turn hillsides, forests and scrub land into tinderboxes. In Colorado, two of the largest fires in state history have forced the closure of Rocky Mountain National Park and triggered the evacuation of nearby towns.More than 8 million people across California will be in high-risk zones, including the cities of Sacramento, Stockton, and San Bernardino, the U.S. Storm Prediction Center said in its long-range forecast.The outages come on the heels of a blistering heat wave that gripped California earlier this month, driving temperatures to record daily highs. In August, a freak lightning storm sparked more than 150 wildfires in 24 hours. Days before that, the state’s grid operator ordered the first rotating outages since the Enron-era energy crisis of 2001 as scorching weather sent electricity demand surging.PG&E began resorting to preventative shutoffs after its equipment caused some of California’s worst blazes, forcing the company into bankruptcy last year. PG&E emerged from Chapter 11 in July after paying $25.5 billion to resolve fire claims.(Adds details of blackouts in second 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.
(Bloomberg) -- U.S. equity futures started the week on the back foot as a stimulus deal remained elusive and coronavirus infections hit a record for a second day. Asian stocks were mixed and Treasuries advanced.S&P 500 contracts retreated though were off their session lows. Stocks slipped in China and Japan, fluctuated in South Korea and edged higher in Australia. U.S. House Speaker Nancy Pelosi said the chamber could pass a pandemic relief plan this week, though a deal with the White House remains elusive as chances faded of a resolution before next week’s election. The pound ticked higher after trade talks between the U.K. and the European Union were extended to Oct. 28. Hong Kong is closed for a public holiday Monday.Ten-year Treasury yields ticked lower though remained above 0.8%. Oil extended a decline. U.S. stocks rose Friday as investors held out hope for a spending package, with the S&P 500 Index paring a weekly decline.Investors remain focused on the chances of an agreement on a stimulus package as November’s election fast approaches. Still, concerns are mounting that surging virus cases could force additional business closures. The U.S. added more than 85,000 cases in a record figure for one day.“There is very limited incentive on both sides to get a deal done,” Joseph Shaposhnik, a portfolio manager at TCW, said on Bloomberg TV. “The market has baked that in, has baked in the election and is looking out six months and thinking what are the odds life begins to normalize, a vaccine is introduced.”President Donald Trump’s chief of staff said the U.S. isn’t going to “control” the pandemic. U.S. Vice President Mike Pence’s chief of staff tested positive, raising the prospect of another outbreak within the White House. Cases also continue to surge in Europe and other parts of the world.Meanwhile, China is rethinking its yuan internationalization strategy and a senior central bank official called for more proactive with policies to support markets, including improving bilateral currency swap agreements.These are some events to watch this week:The Chinese Communist Party’s Central Committee holds its all-important plenum, where it’s expected to chart the course for the economy’s development for the next 15 years. Through Oct. 29.Brexit negotiating teams have started intense daily negotiations, and these are likely to continue as both sides push to finalize a deal by the middle of November.Bank of Japan and the European Central Bank have monetary policy decisions Thursday, followed by briefings from Governor Kuroda and President Lagarde.The first reading of U.S. 3Q GDP Thursday is anticipated to be the strongest on record following a record dive in the prior quarter as many businesses were shuttered by the pandemic.Here are the major moves in markets:StocksS&P 500 futures fell 0.4% as of 10:26 a.m. in Tokyo. The S&P 500 Index rose 0.3% Friday.Topix index was flat.Australia’s S&P/ASX 200 Index rose 0.4%.South Korea’s Kospi index rose 0.2%.Shanghai Composite Index fell 0.6%.CurrenciesThe yen was little changed at 104.73 per dollar.The offshore yuan was at 6.6688 per dollar.The euro fell 0.1% to $1.1847.The British pound traded at $1.3052, up 0.1%.The Bloomberg Dollar Spot Index rose 0.1%.BondsThe yield on 10-year Treasuries fell almost two basis points to 0.82%.Australia’s 10-year bond yield fell four basis points to 0.82%.CommoditiesWest Texas Intermediate crude lost 1.3% to $39.36 a barrel Friday.Gold was little changed at $1,901.98 an ounce.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.
Steve Hilton, Host of 'The Next Revolution,' weighs in on the 2020 presidential election and the people's fight against the establishment.
Colombian security forces have killed a top National Liberation Army (ELN) rebel commander known best by his nom de guerre Uriel, during an operation in the coastal Pacific province of Choco, President Ivan Duque said on Sunday. Uriel, known for his media appearances, online videos and one-time Twitter account, was responsible for kidnappings, the murders of human rights activists and members of the security forces and forced recruitment of minors, Duque said in a broadcast with police and military leaders on Sunday evening."The terrorist Andres Felipe Vanegas Londono, who used the alias Uriel, has been downed," Duque said. "This criminal was killed in a meticulous operation of shared intelligence by the national army of Colombia and the national police."Uriel used his social media to "defend crime," Duque said, as he called for other ELN members to demobilise.The ELN, founded in 1964 by radical priests, are considered more radical and less centrally controlled than the FARC rebels, who signed a peace deal in 2016 and are now a legal political party.The ELN, which has about 2,000 fighters, began peace talks with the previous government, but negotiations fell apart after a car bombing in Bogota and Duque demanded that the guerrillas release all its hostages.The government recently announced the capture of eight rebels it accuses of taking part in the bomb attack, which killed 22 police cadets in early 2019. (REUTERS)