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Libya’s Zaraf Oil and Gas Company announced the export of its first batch of oil from the Shadar oil field.
The U.S. Federal Trade Commission is investigating the consulting firms ISS and Glass Lewis.
On November 13th, Federal Reserve Governor Robert Waller stated on Wednesday that the Fed plans to launch a new, simplified payment account system that would allow institutions to access customized payment services based on their risk profiles, with the goal of being operational by the fourth quarter of next year. "We're moving this forward at startup speed, not like traditional federal regulators who drag their feet," Waller said when announcing this rapid timeline. "I've always held the belief that we are a 'new Fed,' and we must make a difference." Waller is the chairman of the Fed's internal payments committee. He first detailed the concept of these "slimmed-down accounts" last month, which would allow certain institutions access to the Fed's payment infrastructure without additional services or guarantees.
Sources say the U.S. Federal Trade Commission is investigating whether the agency consulting firm violated antitrust laws.
House Democrats said Paramount declined to answer questions about the Trump administration's approval of the CBS merger deal.
Sources say France, Germany, and Spain will resume long-delayed fighter jet negotiations.
Eurogroup President Donohue: Bank stress test results are good.
House Minority Leader Jeffreys: We will introduce a three-year extension of the Affordable Care Act tax credit.
Eurogroup President Donohue: Uncertainty remains high.
White House Press Secretary Levitt: Lack of data leads policymakers to make "blind decisions".
On November 13th, Federal Reserve Governor Mirán reiterated his expectation that inflation will decline and reiterated his call for lower interest rates. Mirán stated, "I think we need to get monetary policy in place—to get it off the overly tight track, thereby mitigating some of the downside risks to the economy." Mirán expects to return to his position as a White House economic advisor after his term as a Federal Reserve governor ends in January. He voted against a 50-basis-point rate cut at the Fed's two most recent interest rate decision meetings, instead of the 25-basis-point cut ultimately implemented by the Fed. Mirán also warned against interpreting inflation data "on the surface."
Hang Seng Index futures closed down 0.26% at 26,899 points in overnight trading, a discount of 24 points.
November 13th - According to data from the Bank of America Institute, U.S. credit and debit card spending saw its largest year-over-year increase since early 2024 in October, reflecting strong demand from high-income households and the impact of rising prices. The research shows that based on credit card data compiled by Bank of America, household spending increased by 2.4% year-over-year in October. Compared to September, credit card spending increased by 0.3% month-over-month, marking the fifth consecutive month of growth. Meanwhile, some of the increase in retail spending may reflect price increases rather than increased transaction volume. Data shows that the overall inflation rate in September was 3%. Although the number of retail transactions rose slightly in October, it remained below levels seen earlier this year. Furthermore, spending growth among high-income households outpaced that of low-income groups. The institute stated that this gap is primarily due to stronger wage growth among high-income earners, while wage growth for other groups was generally lower.
November 13th - Waymo will become the first company in the U.S. to offer driverless taxi services on highways, a milestone that will help it better compete with ride-hailing companies and traditional taxi services. According to a statement, starting Wednesday, Alphabet's (GOOG.O) Waymo will offer rides including highway sections in San Francisco, Phoenix, and Los Angeles for select passengers. The highway service will be available 24/7. Users who have already opted into Waymo's new service and features will be the first to experience it. Waymo stated that it will gradually roll out the new service to more users but declined to disclose a timeline for expanding highway routes to other operating markets. Waymo's move from the testing phase to commercial highway service marks a turning point in the company's development and solidifies its position as the leading driverless taxi provider in the U.S.
White House Press Secretary Levitt: Thanks to tariffs, we have pledged to distribute a $2,000 bonus to the American people.
White House Press Secretary Levitt: (When asked about reports that the United States is considering establishing a base on the Gaza Strip border) This is not something the United States intends to participate in.
On November 13th, Ireland's media regulator launched an investigation into Elon Musk's social media platform "X," alleging the company's failure to remove user-reported illegal content. The statement indicated that the investigation will assess whether "X" violated the EU's Digital Services Act, which requires online platforms to curb illegal or harmful content. The regulator noted that its concerns were supported by the non-profit organization HateAid, which filed a lawsuit against "X" in 2023 on behalf of a Berlin researcher who had been repeatedly banned from the platform.
Executives at Rivian, the U.S. electric vehicle company, said winter testing of vehicles in partnership with Volkswagen will begin before the end of the year and continue into the first quarter of 2026.
Bank of Canada meeting minutes: Officials agreed that interest rate policy was "nearing its limit" in helping the economy.
Bank of Canada meeting minutes: Some officials advocated postponing the October 29 rate cut.
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