World Of Business Today (23 Nov, 2015)

1.Britain’s Shares Decline as Miners Head for Lowest Since 2008:
U.K. shares fell, after their best week in almost a month, dragged lower by a slump in commodity producers.All 13 shares in the FTSE 350 Mining Index sank. Glencore Plc lost 6.2 percent, while Rio Tinto Group and BHP Billiton Ltd. declined more than 2 percent.
2.Crude oil futures lost ground on Monday in early Asian trading, as the global supply surplus pressured prices, but a cut in the number of U.S. oil rigs for an 11th week in the last 12 limited the falls:
Benchmark front-month Brent futures for January fell 16 cents, or 0.36%, to $44.50 (£29.33) a barrel, after ending up 48 cents at $44.66 (£29.43) a barrel on Friday.
3.U.S. oil plunges over 3 percent on strong dollar, supply glut:
Crude futures plunged on Monday, with U.S. oil dropping more than 3 percent on a firmer U.S. dollar and festering worries over a global supply surplus.The fall was part of a wider decline in commodities that has also been stoked by worries over faltering demand from China, with prices for base metals such as copper and nickel tumbling.
U.S. crude’s West Texas Intermediate (WTI) January contract CLc1 had fallen $1.16, or 2.77 percent, to $40.74 a barrel by 0740 GMT. It hit $40.59 earlier in the session, near levels seen on Friday before the December contract expired.
4.Euro on defensive, pressured by ECB stimulus expectations:
The euro languished near a seven-month low against the dollar on Monday, weighed down by expectations that the European Central Bank will ramp up its monetary stimulus next month.Most major banks have stuck firmly to the view that the euro will fall toward parity with the dollar in the months ahead as the Federal Reserve begins to lift interest rates while the ECB takes the opposite course.
5.Average U.S. gasoline prices resume slide, hit 10-month low: Lundberg:
The average price of gasoline in the United States resumed its slide over the past two weeks, dropping 11 cents to $2.14 a gallon, the lowest since late January, according to a Lundberg survey released on Sunday.The 5 percent decline in gasoline prices came as oil refiners and gasoline wholesalers and retailers passed along lower oil-buying prices to consumers, said survey publisher Trilby Lundberg in emailed comments.Current retail gas prices were 70 cents below the year-ago period and at the lowest level since Jan. 23, when the average price was $2.07 per gallon. Benchmark crude oil prices were under pressure from hefty supplies and a strong U.S. dollar, the report said.
6.World’s Top Miners Risk $10 Billion of Earnings on Carbon Cost:
The world’s biggest mining companies face a combined $10 billion risk to their earnings if carbon pricing tightens in the wake of crucial global climate talks in Paris starting next week, according to a report from U.K. non-profit organization CDP.CDP, which says it advises institutional investors with assets of $95 trillion, ranked 11 companies on climate change-related metrics including disclosure of emission-reduction targets, conducting water stress-test studies and preparing for an expected tightening of carbon regulation to emerge from the United Nations climate summit.
7.Global Stocks Slip Lower, Weak Commodity Prices Weigh:
Global stocks slipped on Monday following a week of gains for most major indexes, with weak commodity prices taking their toll on the energy and mining sectors.The Stoxx Europe 600 was down 0.5% in early trade after adding 3.3% last week.
8.Nigerian import curbs hit SA groups:
SALES at Mr Price’s Nigerian stores have slowed after the country’s central bank imposed foreign exchange restrictions to stem the flow of dollars out of the country, resulting in delays of merchandise being imported into the country.
9.Accused Mastermind of J.P. Morgan Hack a Product of Israel’s Internet Underbelly:
To many in Tel Aviv’s thriving tech community, Gery Shalon appeared to be one of its most prosperous entrepreneurs.
10.Copper Slumps Below $4,500, Nickel Plunges 5% as Metals Slide:
Copper fell below $4,500 for the first time since May 2009 as investors fear China’s shift to a consumer-driven economy from investment-led expansion will slow demand in the world’s biggest user. Nickel lost more than 5 percent to the lowest since 2003 and Shanghai futures fell the daily limit. Glencore Plc shares slid 3 percent and BHP Billiton Ltd. dropped 2.1 percent.