Quest’s Profitable Moment
It is at all times fascinating to go to and expertise international locations in transition. I’m in Saudi Arabia the place I’ve been attending the Misk Global Forum.
Saudi is present process a change the likes of which have not been seen in a long time. Crown Prince Mohammed Bin Salman has made dramatic modifications, from decreeing that girls can drive subsequent 12 months to an enormous crackdown on corruption. More than 200 arrests have despatched the message: It’s not enterprise as regular in Saudi.
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What’s fascinating is the large swell of help from the youth for these modifications. “About time” is the response to the financial modifications. “Good riddance” (and worse) is thrown at these arrested for corruption.
It’s too quickly to say what the long run outcome shall be, however life is altering right here in Saudi and it is about time.
Canada fights again as NAFTA talks restart
Prime Minister Justin Trudeau is not tolerating President Trump’s tariffs on Canadian lumber.
Trudeau’s administration filed a movement to create a panel of commerce judges to resolve a dispute between American and Canadian lumber corporations. The U.S. has slapped an 18% tariff on Canadian lumber. The timing is essential: NAFTA talks aren’t going properly and Round 5 begins in Mexico City on Friday.
Trudeau, and Mexican President Enrique Pena Nieto, are additionally in search of alternate options: Their international locations basically agreed to revive TPP with 9 different international locations. Trump did not commit, however he did return from Asia to brag about all of the offers he signed with China and others.
— Patrick Gillespie
Can Saudi Arabia be the subsequent Silicon Valley?
Saudi Arabia needs to grow to be much less reliant on oil.
The authorities is taking steps to make it simpler for entrepreneurs to launch startups there. Saudi Arabia has no main tech companies, however a Saudi governor who helps oversee small companies hopes the dominion will at some point be house to its personal Apple or Google.
Meanwhile, the United States is changing into extra like Saudi Arabia. Thanks to a booming shale gasoline business, the International Energy Agency predicts America will export extra oil than it imports throughout the subsequent decade.
— Paul R. La Monica
Boeing & Airbus fly excessive in battle for the skies
Boeing and Airbus have been huge winners on the Dubai Air Show. Boeing inked offers to promote 225 of its 737 Max planes to FlyDubai and 40 787-10 Dreamliners to Emirates. The two purchases are value $42 billion at listing costs.
But Airbus countered that with a sale of 430 A320neo jets to Indigo Partners, which owns a number of low-cost airways across the globe. The deal is value $50 billion at listing costs.
Investors are giddy. Airbus rose this week and its inventory is up greater than 35% this 12 months. Boeing rallied too. It’s soared 70% in 2017 — tops within the Dow.
— Paul R. La Monica
The Chinese tech big taking over Facebook
Watch out, Zuckerberg. Shares in Tencent, a Chinese social media and gaming conglomerate, have greater than doubled in worth over the previous 12 months, and the corporate is inching nearer to Facebook’s $570 billion market cap.
Its secret weapon: WeChat, a wildly fashionable social networking platform with virtually one billion customers.
While Facebook is decidedly extra international — virtually all of WeChat’s customers are in China — traders even have their eyes on Tencent’s investments in smartphone video games, cell funds and music streaming.
— Julia Horowitz
Putin provides Venezuela a lifeline after default. Watch out: You might personal its debt
Speaking of Russia, Moscow is relinquishing management of iconic Kalashnikov
GE’s money crunch forces dividend to be halved. Fixing this mess shall be troublesome
Life in Zimbabwe underneath Robert Mugabe: Food shortages, corruption, inflation
Norway used oil to construct a $1T pension fund. Now it needs to dump oil shares
Thanksgiving festivities: U.S. markets shall be closed on Thursday in observance of Thanksgiving Day. Trading may also shut down at 1 p.m. ET on Friday. Due to the vacation, Quest’s Profitable Moment shall be revealed on Wednesday subsequent week.
Earnings parade continues: Not to be outdone by the Macy’s Thanksgiving Day parade in Manhattan, one other batch of main corporations are as a result of report outcomes subsequent week. Highlights embody Lowe’s, Salesforce, GameStop, Campbell Soup and each HP Inc. and HP Enterprises.
CNNMoney (New York) First revealed November 17, 2017: 2:37 AM ET