Business
Oil Jumps as Saudi Pipeline Attack Deepens Energy Crisis
Oil surges above $108 a barrel after an attack shuts Saudi Arabia’s East-West pipeline, a key route that bypasses the Strait of Hormuz and threatens to deepen the global energy crisis. A planned Oman-Iran meeting on Hormuz is postponed as Saudi Arabia submits amendments to Oman’s proposal, while Houthi advances raise fresh risks for shipping through the Bab el-Mandeb Strait. The US energy deputy secretary discusses Venezuela’s oil potential and efforts to limit the impact of higher prices.
Asian stocks fall on concerns over an AI slowdown, with SoftBank shares sliding after AI leaders raise caution about development and spending. OpenAI’s Sam Altman says the company will prioritize safety and does not expect an IPO in 2026, while AI figures including Altman and Elon Musk weigh concerns over the pace of AI development.
Markets also face a major week for central banks, with Kevin Warsh under pressure to consider a 25-basis-point rate hike. US core CPI comes in above forecasts, adding to pressure on policymakers. Trump and Warsh remain on a collision course over interest rates, while Trump says he is not worried about Xi calling off their summit and announces plans to eliminate tariffs on Irish whiskey.
The UAE economy shows resilience despite the war, although economists expect GDP growth to slow to 1.7% this year before a sharp recovery next year. Meanwhile, Dangote’s fortune could rise by $23 billion through a refinery IPO expected to raise $1.6 billion and value the business at almost $50 billion. Guests includes Hasan Alhasan, IISS Middle East Policy Senior Fellow and Anita Krishna Gupta, Wealthbrix Capital Partners CIO.
Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.
Chapters:
00:00:00 – Introduction
00:04:33 – Saudi Shuts Oil Pipeline Bypassing Hormuz
00:08:02 – Hasan Alhasan, IISS Middle East Policy Senior Fellow
00:15:24 – Anita Krishna Gupta, Wealthbrix Capital Partners CIO
00:27:11 – AI Bosses Back Slower AI Development
00:32:50 – UAE Economy Shows Resilience Amid War
00:36:36 – James Danly, US Energy Deputy Secretary
00:39:23 – Dangote’s Fortune Set to Jump $23B on Refinery IPO
00:42:24 – Major Central Banks to Deliver Rate Decisions This Wee
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Business
Stocks Fall on Nvidia Worries; Nvidia Board Considers Huang’s Future
US equity futures decline as investors grapple with a leadership crisis at Nvidia that threatens a wider fallout across the global AI supply chain and trade relations between the US and China. Wei Li of BlackRock joins “Bloomberg Brief” to discuss the market impact of the Nvidia turmoil. Bloomberg’s Jennifer Zabasajja speaks to UN Secretary General Antonio Guterres, who argues that multilateral institutions must reform to reflect merging economies, at COP31.
Chapters:
00:00:00 – Bloomberg Brief
00:05:37 – Nvidia Board Weighs Jensen Huang’s Future
00:11:10 – Ukraine Talks, UK Economy and CoreWeave
00:12:36 – Wei Li, Global Chief Investment Strategist, BlackRock, on Nvidia and AI
00:20:33 – Mississippi Election and Gaza Strike
00:26:14 – Nvidia Fallout and US China Relations
00:28:16 – COP31 and Global Climate Risks
00:30:31 – Antonio Guterres, UN Secretary-General, on UN Reform and the US
00:39:58 – Steve Witkoff, Jared Kushner Meet Putin
00:42:08 – US Jobless Claims and Fed Speakers
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Business
Trump Stands By Nvidia’s Huang, Defense Secretary Hegseth
President Donald Trump calls Nvidia CEO Jensen Huang “an amazing guy” and offers support for Pete Hegseth. Tyler Kendall reports on “Balance of Power: Evening Edition.”
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Business
Nvidia Looks for a New Era After Huang
Bloomberg’s Emily Chang tells Bloomberg This Weekend what her recent interview with Jensen Huang reveals about Nvidia’s succession challenge after the longtime CEO’s abrupt departure. Speaking with hosts David Gura and Christina Ruffini, Chang examines who could succeed Huang, the questions surrounding Nvidia’s China strategy and whether the AI giant can preserve the influence and relationships Huang built over more than three decades.
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Business
Inside Indonesia’s Wash-Trade Scheme
(Corrects reference to regulatory action at 5:25 in video published Nov. 1.)
Trading volume manipulation, opaque ownership and coordinated trades have shaken confidence in Indonesia’s markets and put the country at risk of being pushed out of MSCI’s major emerging-market indexes. Bloomberg reporting reveals how some brokers engineered activity and inflated the appearance of demand, and why the fallout could drive billions of dollars out of one of Asia’s biggest economies.
https://bloom.bg/4imB8kr
#Indonesia #Markets #Stocks #Business
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Business
What Huang’s Departure Means for the Future of Nvidia
Nvidia CEO Jensen Huang was ousted from his post after reports of two affairs, including with one woman who is suspected of spying for China. Ed Ludlow and Mandeep Singh discuss what this means for the future of the company on “Bloomberg Open Interest.”
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