Markets
S&P 500 posts fifth week of gains as Wall St. hits records
The news sent all the three major US stock indexes sharply lower, but the S&P and Nasdaq quickly recovered to trade near flat. Investors grew more confident about economic growth, piling into shares of cyclical stocks during the week and unraveling bets on safer investments like Treasurys. [Full Article...]
Canadian Dollar: Loonie Sinks on Weak Jobs Report, Housing
In October a year ago, Victoria's unemployment rate was 3.9%. The Canadian dollar weakened to a three-week low of $1.3232 to the US dollar, or 75.57 cents USA, after the jobs data was released. Ontario accounted for most of the roughly 23,000 manufacturing positions that were lost in the month. The decrease came as the local economy added 4,600 new jobs. [Full Article...]
Mercedes-Benz G-Class Is Getting An Electric Variant
No ready date has been provided, of course, but given the power that will be needed to propel this heavy, resolutely un-aerodynamic vehicle, patience is in order. The AMG division plans to introduce the technology in several of the models that it adapts for enhanced performance. Chennai: At a time when the struggling auto market is still recovering, Mercedes-Benz, India's biggest luxury carm... [Full Article...]
Amazon founder Jeff Bezos reportedly interested in owning National Football League team
Billionaire investor and founder of Omega Partners Leon Cooperman told CNBC on Friday that he would back the former NYC mayor now that he is in the race. Bezos is not the only billionaire who has expressed interest in a Bloomberg campaign. "They're scared that under a Warren presidency, they would no longer have a government that caters to their every need". [Full Article...]
Amazon to build first Quebec fulfilment centre, create 300 jobs
By expanding in the province, Amazon hopes to "better serve its Quebec customers". "A giant just landed in Lachine, in Montreal, in Quebec", said Lachine Mayor Maja Vodanovic, citing the borough's central location as ideal for the tech giant. [Full Article...]
Alibaba eyes US$15 billion Hong Kong IPO
Alibaba - which had roughly US$57 billion of cash and equivalents as of September - rode a national e-commerce boom that stemmed from an increasingly affluent middle class. That would be a welcome change for domestic Chinese investors who, because of an effective bar to owning shares overseas, have not been able to share in the success of Alibaba , and the other successful Chinese tech companies... [Full Article...]
Germany's goods exports September report is better than expected
Carsten Brzeski, chief economist at ING Germany , said the figures suggested that "a technical recession is not a done deal" and that a third-quarter dip in output might be avoided "at the last minute". Despite the ongoing trade woes, German exports had a better-than-expected quarter. In the first nine months of the year, exports to the USA accounted for 9% of all German exports. [Full Article...]
Phoenix Group CEO Clive Bannister to retire
Briggs will join Phoenix as CEO-designate and board member on January 1, 2020 and will be tasked with continuing the insurer's growth, led by the takeover of many closed pension schemes from United Kingdom companies anxious to offload the long-term risks. [Full Article...]