1.Reactions as Nigeria’s foreign reserves drops $30.04 billion:
Mixed feelings since the CBN said,Nigeria’s foreign reserves fell to $30.04 billion by Thursday, November 26.
2.TCN MD Resigns as Weak Transmission Network Leads to Drop in Power Supply by 900MW:
The Managing Director of the Transmission Company of Nigeria (TCN), Mrs. Veronica Osuhor, has resigned her appointment following a protracted dispute among key leaders in the power industry.This came as indications yesterday emerged that weak transmission network that cannot evacuate power generated by the power stations had forced a drop in power supply from the 4,883.9 megawatts new peak celebrated recently to 3,900 megawatts.
3.Morgan Stanley to Cut a Quarter of Bond, Currency Trading Jobs:
Morgan Stanley plans to slash hundreds of jobs from its debt and currencies division, people familiar with the matter said, revealing that the Wall Street firm believes that a monthslong slump in trading revenue may persist.
4.Russia and Saudi Arabia Battle for Control of European Oil Market:
LONDON—A contest for dominance in Europe’s oil market is heating up between the world’s two biggest oil exporters—Saudi Arabia and Russia—as they contend with stubbornly low crude prices and the prospect of Iran’s post-sanctions return.
5.China’s manufacturing PMI report for November has come in below expectations, at a more than 3-year low:
According the government, the index slipped to 49.6 in November, missing expectations for an unchanged reading of 49.8. Anything below 50 signals contraction.
6.Samsung announced on Monday that it’s replacing its president of mobile communications — the latest sign of change at the electronic giant’s ailing smartphone business:
According to Bloomberg, Samsung will replace its former president of mobile communications, Shin Jong-Kyun, with Koh Dong-Jin, who was part of the Galaxy S6 and Note 5 business. The move was announced as part of Samsung’s annual year-end management reorganization.
7.China’s manufacturing PMI report for November has come in below expectations, at a more than 3-year low:
According the government, the index slipped to 49.6 in November, missing expectations for an unchanged reading of 49.8. Anything below 50 signals contraction.
8.Billionaire David Einhorn’s Hedge Fund Is Down By 20% In 2015:
Billionaire David Einhorn’s terrible year got even worse in November with his Greenlight Capital hedge fund tumbling by about another 5%. As a result, Einhorn’s Greelight Capital has fallen by more than 20% in the first eleven months of 2015, according to the web site of his reinsurance company.
9.Forte Oil profit up 7% on reduced borrowing costs:
Forte Oil Plc, an integrated energy group has made a remarkable leap forward in profits buoyed by a reduction in borrowing costs, increase in other income from ordinary activities as the company continues to overcome the gloom caused by delay in subsidy payments.
10.Swiss GDP Unexpectedly Stagnates in Third Quarter:
Swiss economic growth unexpectedly stalled in the third quarter, with momentum held back by weak performance in the energy, construction and financial sector.Output was unchanged in the three months through September, after
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