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Retailers see biggest-ever Cyber Monday after record online Black Friday

U.S. retailers kicked off Cyber Monday by launching a slew of deals earlier than usual over the weekend, seeking to sustain the momentum of a record $11.6 billion in online sales on Thanksgiving and Black Friday. Shoppers already had nearly a month of sales promotions as retailers look to draw out a holiday season that on paper is six days shorter this year due to a late Thanksgiving. Amazon.com Inc and other traditional retailers such as Target Corp and Walmart have beefed up delivery services to fulfill online orders faster as more customers order over their mobile phones …read more […]

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Off the radar: U.S. CEOs' jet perks add millions to corporate tax bills

As U.S. corporate jet use approaches pre-financial crisis levels and chief executives take an increasing number of personal trips on the company tab, many investors are being kept in the dark about the true cost of the perk. For the S&P 500 companies that pay for their CEOs to use corporate jets for private trips, the estimated median value of that flying climbed 11 percent last year to $107,286 from $96,532 in 2017, according to the latest available figures from compensation research firm Equilar Inc. That is up 27 percent from $84,636 in 2007, the year before the financial …read more […]

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Israel's Leviathan to begin supplying gas by end of month -Noble

Israel’s largest offshore natural gas field, Leviathan, will begin supplying the local market by the end of this month, with exports to Egypt and Jordan following shortly after, an official from the field’s operator said on Monday. “Within 2-3 weeks we will open the wells and start to supply the gas,” said Binyamin Zomer, vice president for regional affairs at Texas-based Noble Energy, reaffirming the company’s pledge to begin production by the end of 2019. “Before the end of the year we will start supplying the domestic market, and the in the weeks right after that we will …read more […]

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EMERGING MARKETS-Stocks inch up after strong China data; Gazprom boosts Russian shares

Emerging market stocks edged up on Monday after declining for two straight sessions, as investors cheered an unexpected rebound in Chinese manufacturing activity, while Russia’s Gazprom hit a three-week high as it began gas supplies to China. Gazprom’s shares were set for their best day in more than a week, as Russian President Vladimir Putin said supplies to China via the Power of Siberia pipeline would help the two countries reach $200 billion in trade by 2024. …read more […]

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WTO finds Airbus still receives some EU subsidies – sources

PARIS/BRUSSELS (Reuters) – The World Trade Organization has found that the European Union has failed to withdraw all subsidies to planemaker Airbus , three people familiar with the matter said. A new compliance report expected to be published as soon as Monday has found that the Airbus A350 jetliner continues to be subsidized as a result of earlier government loans, they said. Neither the WTO nor the parties in the 15-year-old trade case, which involves mutual claims of billions of dollars of subsidies to both planemakers, had any immediate comment. …read more […]

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Merkel’s Christian Democrats Play Hardball With Coalition’s Future in Balance

Dec.02 — Chancellor Angela Merkel’s Christian Democrats told the new leadership of the Social Democrats that they can quit the governing coalition, but there will be no renegotiation of the terms of their alliance. The SPD on Saturday picked coalition critics Norbert Walter-Borjans and Saskia Esken to take the party forward over Merkel’s SPD vice chancellor Olaf Scholz and the new leaders said they will demand policy changes from Merkel if they are to maintain their support. Birgit Jennen reports from Berlin on “Bloomberg Markets: European Open.” …read more […]

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UBS Asset Management bullish on emerging market equities, debt

The United States’ economic outperformance will wane, the dollar will probably weaken and growth next year can be expected from emerging markets, UBS Asset Management said on Monday, the latest money manager to turn bullish on the sector. It follows upgrades on the outlook for emerging markets, loosely defined as more recently industrialised nations – including China, much of Southeast Asia and Latin America – from J.P Morgan Asset Management and Morgan Stanley last month. “As we look towards 2020, we’re looking towards ex-U.S. equities,” said Evan Brown, head of multi-asset strategy at UBS Asset Management. …read more […]