Finance
10 things you need to know in markets, November 5
Good morning! Here’s what you need to know in markets on Monday.
1.
Oil prices fell slightly on Monday as the start to U.S. sanctions
against Iran’s fuel exports was softened by
waivers that will allow some countries to still
import Iranian crude, at least temporarily. In a
government-organized rally In Tehran, Iranians
chanted “Death
to America” ahead of the reimposition of US sanctions on its
oil sector. Brent crude futures fell 0.2% to $72.66 per
barrel at 7:37 a.m. in London on Monday.
2.
US President Donald Trump says his administration is looking at
anti-trust proceedings against Amazon, Facebook and
Google. Trump said the European Union’s $5
billion fine against Google helped convince the
president to consider pursuing regulation.
3.
A pro-Brexit lawmaker in Prime Minister Theresa May’s
Conservative Party said that the U.K. must leave the European
Union’s customs union. “If we’re going to regulate
our own economy, if we’re going to have our own independent trade
policy, if we’re going to be a normal, independent country which
is what I understood the referendum to have decided, then we need
to be out of the customs union,” MP Steve Baker told BBC radio.
4.
Warren Buffett’s Berkshire Hathaway bought back nearly $1 billion
of stock. The
company said its quarterly operating profit nearly doubled and
benefited from lower taxes.
5.
SoftBank CEO Masayoshi Son will face questions on Monday about
the Japanese company’s dependence on Saudi Arabia,
in his first public appearance since the murder of a journalist
by Saudi security forces sparked global outrage.
6.
A Chinese warship reportedly threatened a US Navy destroyer
in the South China Sea. The transcript of the
radio exchange suggests that the Chinese naval vessel
threatened the US destroyer, warning that it would “suffer
consequences.”
7.
The sons of murdered journalist Jamal Khashoggi gave an emotional
interview, saying they hoped his death was
“peaceful.” They also called on Saudi Arabia to
release his body so he could be properly
buried.
8.
Amazon has reportedly closed in on Northern Virginia for its
second headquarters. The
company is near to announcing the location of its second
headquarters, known as HQ2.
9.
Brazil’s far-right president Jair Bolsonaro has declared war
on “fake news” media. Bolsonaro
has threatened to cut funding for ads to adversarial media
groups.
10. An
environmental group says new evidence points to China’s use of
banned industrial gas that is destroying the
planet. The harmful gas is
supposed to be banned worldwide under the Montreal Protocol,
which is a global agreement to protect the ozone layer.
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Business6 days ago
TikTok Shop expands its secondhand luxury fashion offering to the UK
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Business5 days ago
UnitedHealth says Change hackers stole health data on ‘substantial proportion of people in America’
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Business6 days ago
Mood.camera is an iOS app that feels like using a retro analog camera
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Business4 days ago
Tesla’s new growth plan is centered around mysterious cheaper models
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Business3 days ago
Xaira, an AI drug discovery startup, launches with a massive $1B, says it’s ‘ready’ to start developing drugs
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Business5 days ago
Two widow founders launch DayNew, a social platform for people dealing with grief and trauma
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Entertainment4 days ago
Tesla’s in trouble. Is Elon Musk the problem?
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Business4 days ago
UK probes Amazon and Microsoft over AI partnerships with Mistral, Anthropic, and Inflection