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Petrobras is ramping up efforts to maximize oil extraction from its current fields in Brazil. The company is also actively searching for new reserves to ensure production doesn’t start to decline in the 2030s.
BlackRock’s Gargi Chaudhuri Sees Promising Earnings in Health Care, Utilities
Market News
Gargi Chaudhuri, chief investment and portfolio strategist for the Americas at BlackRock, believes there’s potential for earnings growth in the health care and utilities sectors. However, speaking on “Bloomberg The Close,” she noted that small-cap stocks may struggle to outperform in the current market environment.
Italy Plans €4 Billion Tax Increase Targeting Corporations in Budget Reform
Market News
Italy’s government aims to raise €4 billion, about $4.4 billion, from companies. This will be achieved by adjusting tax thresholds and removing specific tax deductions, as sources familiar with the budget plans report.
Cambria’s Meb Faber Unveils Tax-Aware ETF Set for December Launch
Market News
Meb Faber, co-founder of Cambria Investment Management, spoke with Katie Greifeld and Eric Balchunas on “ETF IQ” about the upcoming launch of the Cambria tax-aware ETF, expected in December. This ETF will seed funds using investors’ assets, aiming to provide a tax-efficient investment option for clients.
China ETFs Attract Billions in Domestic and Foreign Investments
Market News
China exchange-traded funds, or ETFs, are seeing a surge in investments, drawing billions from both domestic and foreign investors. This trend underscores growing confidence in China’s market and economic prospects, as more investors seek to capitalize on potential growth opportunities in the region. Bloomberg’s Carolina Wilson highlights this shift, signaling an increased interest in Chinese assets amidst a challenging global economic environment.
India’s Inflation Surges, Central Bank Hikes Interest Rate Concerns
Market News
India’s inflation rose faster than anticipated in September, reinforcing the central bank’s cautious stance. This surge comes amid increasing demands for interest rate cuts. As prices climb, the Reserve Bank of India is likely to consider its options carefully, balancing growth and price stability.
Emerging-Market Currencies Fall as Chinese Stimulus Fails to Impress
Market News
Emerging-market currencies dipped on Monday as disappointing Chinese stimulus measures strengthened the US dollar. Trading volume was thin due to a bond market holiday.
Electric Vehicle Demand Rises as Plug-in Prices Drop According to Stellantis, Renault
Demand for electric vehicles is rebounding, as prices for plug-in models are decreasing. This update comes from Stellantis NV and Renault SA, highlighting a positive shift in the market for electric cars.
US Election Uncertainty Drives Finance Executives to Strengthen FX Hedges
With less than a month to go until polling day, uncertainty looms over the US presidential election, prompting finance executives to strengthen their foreign-exchange hedges. The tight race is raising concerns that the outcome could shake currency markets, leading companies to take preemptive measures to protect their finances.
Yapi Merkezi Secures €2.7 Billion Deal for Uganda Railway Project
Yapi Merkezi Holdings AS has signed a €2.7 billion ($2.95 billion) deal to construct a railway line in Uganda. This agreement revives a project that had previously faced financing challenges after China pulled its support.
Prabowo Subianto Meets with Cabinet Candidates, Including Sri Mulyani
Indonesia’s Finance Minister Sri Mulyani Indrawati, a former World Bank managing director, joined President-elect Prabowo Subianto at a cabinet selection meeting ahead of his inauguration later this week.