The Economy
China’s Stock Market Suffers Biggest Loss In Nearly Two Years
China’s stock market dipped by 3% on Thursday, its biggest loss in almost two years, as a result of tighter lending rules implemented by the government. It is suggested that the fall was also due to firmer bond prices with the dollar also dropping overnight after the minutes from the Federal Reserve’s latest policy meeting.
The Markets
U.S. Oil Price Hits Two-Year High
The U.S. crude price reached a two-year high on Thursday as the shutdown of TransCanada Corp. (TSX-V:$TRP)’s Keystone pipeline and a decline in fuel inventories caused a tightening of the market, despite rising output from U.S. producers.
On a related note, the OPEC will hold a meeting on November 30 to discuss policy, including the possibility of an extended oil supply cut.
Broadcom Considers Raising Qualcomm Bid
Chipmaker Broadcom Ltd. (NASDAQ:$AVGO) is considering upping its bid to buy rival Qualcomm Inc. (NASDAQ:$QCOM) by offering more of its stock. Broadcom has previously offered to pay $103 billion for Qualcomm, comprising $60 per share in cash and $10 per share of its own stock.
SQM’s Legal Disputes Could Linger Through 2018
Sociedad Quimica Y Minera (NYSE:$SQM)’s ongoing legal disputes over royalty payments with the Chilean government may not be resolved until the end of 2018. The Chilean government has alleged that the company failed to meet its contractual obligations in their lease agreement on the Salar de Atacama.
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