Year: 2019

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 […]

(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 […]

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 […]

(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 […]

(Bloomberg) — Gold is all that nationalist leaders in Europe’s east can talk about these days.Just this week, Poland’s government touted its economic might after completing the repatriation of 100 tons of the metal. Over in Hungary, anti-immigrant Prime Minister Viktor Orban has been ramping up holdings of the safe-haven asset to boost the security of his reserves.The gold rush mirrors steps by Russia and China to diversify reserves exceeding $3 trillion away from the dollar amid flaring geopolitical tensions with the U.S. Motivations in Europe’s ex-communist wing, however, can vary.Take the latest example. Former Slovak Premier Robert Fico, who …read more […]

British drugmaker AstraZeneca Plc said on Friday its immunotherapy cancer treatment Imfinzi has been granted a speedy review by the U.S. medicines watchdog for the treatment of a particularly aggressive type of lung cancer. The company said the U.S. Food and Drug Administration (FDA) accepted its supplemental application and granted priority review to Imfinzi for the treatment of previously untreated late-stage small cell lung cancer (SCLC). The FDA decision is a boost for the treatment as it competes against similar medicines from rivals Merck and Roche , and follows data in September which showed Imfinzi prolonged survival in …read more […]

Brazil’s state-controlled oil company Petroleo Brasileiro SA has selected four groups for the second round of bidding for four refineries up for sale, including China’s Sinopec, Abu Dhabi’s state investor and two Brazilian firms, according to four people with knowledge of the matter. Sinopec, Abu Dhabi’s Mubadala Investment Co and Brazil’s Ultrapar Participações SA and Raizen were chosen to go through to the next phase, they said. …read more […]