Page 103 - Bloomberg Businessweek-October 29, 2018

◼ IN BRIEF Bloomberg Businessweek Oct. 29, 2018

By Kyle Stock

● The day after billionaire ● The Nasdaq plunged
containing an explosive 4.4%
philanthropist George
Soros received a package

device, similar packages on Oct. 24, its biggest
arrived at the homes of single-day slide since
the Clintons, the Obamas, August 2011. The index
and other Democratic is down 12 percent from
figures. The Time Warner August, meeting the
Center in New York was definition of a correction.
also evacuated when a
suspicious parcel was
detected there at the offices
of CNN. ● Afghans voted in parliamentary elections on Oct. 20, three years after they were
originally scheduled. Security concerns have been a perennial problem, and many
polling stations remained closed because of threats of violence from the Taliban.

● McDonald’s reported ● During an ● Pakistani Prime Minister ● The Bank of
2.4 percent growth in same- Oct. 24 earnings Imran Khan drew Canada pressed
store sales in the U.S. It criticism at home
attributed the gains in part call, Boeing for attending the ahead with a
to cutting preservatives reported higher- Future Investment Initiative fresh interest-rate
from many offerings and than-expected conference in Riyadh on increase.
ordering fresh rather than Oct. 23. The next day,
frozen beef, which led to an earnings and Pakistan’s Finance Ministry
uptick in consumer interest. predicted that announced that Saudi
AFGHANISTAN: HAMED SARFARAZI/AP PHOTO. BIG MAC: COURTESY MCDONALD’S. KHAN: AMIR QURESHI/AFP/GETTY IMAGES. DI MAIO: ALESSIA PIERDOMENICO/BLOOMBERG
sales would Arabia had agreed to 11
provide $6 billion in aid.
reach a record
$100 billion for The bank acknowledged for the
first time in more than a decade that
the year. it expects to completely remove
monetary stimulus from the economy.
● “This is the first Italian ● The New York Attorney ● Tesla posted quarterly
General’s Office sued
net income of
budget that the EU doesn’t climate change regulations $2.90
Exxon Mobil for misleading
investors about the risk
like. No surprise this is the posed to its business. An per share. Analysts had

first Italian budget Exxon spokesman called predicted a small loss for
the allegations “baseless.”
the company. This was
written in Rome and only the third time Tesla
has reported positive net
not in Brussels.” quarterly income; it also
generated more cash than
expected. As of press
time, Elon Musk hadn’t
Italian Deputy Prime Minister Luigi Di Maio said the country tweeted about it.
would move forward after the European Commission
rejected the budget’s 2.4 percent funding deficit.

● Dyson announced it would build an electric vehicle factory in Singapore and said its cars would be “radically different.”
● India removed Central Bureau of Investigation Director Alok Kumar Verma over graft allegations. Verma has appealed.
● Former U.S. Supreme Court Justice Sandra Day O’Connor, revealing she has dementia, said she’s retiring from public life.

● Snap said it had helped register more than 400,000 voters, mostly in Georgia, Florida, and other battleground states.