Markets
Retired Zappos CEO's Death Accidental, State Officials Say
Hsieh was visiting family in CT at the time of the fire, officials said. The state agency issued a brief emailed statement in response to inquiries from Bloomberg, saying the death was caused by "complications of smoke inhalation", and ruled an "accident". [Full Article...]
England announces new coronavirus quarantine exemptions for 'high-value' business travellers
Transport Secretary Grant Shapps said the move will allow "more travel to support the economy and jobs" and full guidance will be issued soon. However, shadow transport secretary Jim McMahon said the announcement was divisive, describing it as "one rule for some and another rule for everyone else". [Full Article...]
Brexit trade talks in 'difficult phase', British minister says
In briefings to European Union ambassadors and MEPs in Brussels, the bloc's chief negotiator said Downing Street had revised its demand down from 80%, but that it was unclear whether the divide could be bridged in the time remaining, prompting member states to caution against rushing into a deal. [Full Article...]
RBI Bars HDFC Bank from Issuing New Credit Cards
The bank's Chief Executive Officer Sashidhar Jagdishan in a note addressed to customers and posted on its website, apologized and assured that the lender was working on a "war footing" to strengthen its digital capabilities. The bank tried to play down the wider implication of the penalty on market competition. Card customers had complained that they were stuck at merchant establishments with pa... [Full Article...]
OPEC+ agrees to increase output by 500,000 barrels a day in January
However, over the past few weeks the outlook on demand has changed to somewhat more favorable with the advent of the COVID-19 vaccines. The so-called OPEC+ group said in August it would taper its production cut by 2 million barrels per day to 7.7 million. [Full Article...]
Pelosi And Schumer Back Bipartisan Coronavirus Bill, giving Boost To Compromise
It costs less than half of the $2.2 trillion stimulus package passed by the House more than six months ago but is almost double the $500 billion "skinny" relief bill backed by McConnell. "We simply can not afford to wait", said Gottheimer, D-5th Dist. Manchin noted he is confident there will be enough Republicans supporting the framework to pass out of Congress. [Full Article...]
UK services activity drops less than feared in second lockdown - PMI
However, the figure was higher than the initial estimates of 45.8 and well above the low of 13.4 in April. However, the survey suggested a far smaller overall contraction of gross domestic product compared with that seen in spring following the first lockdown, as activity remained solid in those sectors not affected by the partial lockdown. [Full Article...]
PPP loan recipient data reveals disappointing patterns
About 600 businesses - including powerful law firms such as Boies Schiller Flexner, restaurants such as the steakhouse chain started by Ted Turner, as well as the operator of New York's biggest horse tracks - received the maximum loan amount of US$10 million, according to the data . [Full Article...]