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Catalan separatist leaders are trying to find a way to put off a declaration of independence and negotiate a settlement with Spain. The first signs came last night, when regional president Carles Puigdemont didn't call for secession in a televised statement, as some expected he would. This morning, in an exclusive interview with Bloomberg TV, Spanish Economy Minister Luis de Guindos ruled out mediation and said Catalonia's independence push is doomed. A Spanish court this afternoon enjoined a session of the Catalan Parliament planned for Oct. 9. Now separatist leaders are scrambling for middle ground. — Andy Reinhardt
‘Landmark' visit. Russian President Vladimir Putin held talks with Saudi King Salman bin Abdulaziz, who's making an historic first visit to Russia by a monarch of the Gulf kingdom, as the two energy superpowers seek agreement on whether to extend a deal curbing oil supplies. We're seeing a convergence of interests between the world's two largest oil exporters. The Saudi energy minister said cooperation between the countries has “breathed life back into OPEC.”
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European tensions. As if the shock of Brexit wasn't enough, another rupture may be sneaking up on Europe. This one is between the West European core of the EU, led by Germany's Angela Merkel and France's Emmanuel Macron, and the populist leaders of Eastern Europe, who dislike Brussels. Pent-up anger over issues such as immigration and EU integration could deliver surprises few business and political leaders anticipate.
Italian IPO boom. Tiremaker Pirelli's return to the stock market this week made it the 30th company to join the Borsa Italiana in 2017, driving company listings to the highest level in at least a decade. Italian companies have raised €4.11 billion ($4.83 billion) from IPOs this year, more than double the €1.45 billion in 2016. As many as 12 more are in the pipeline this year. Valentino, Furla and Eataly are considering 2018 listings.
Speedfactory. At a plant halfway between Munich and Frankfurt, Adidas workers mold shoe soles in just seconds, with machines replacing manual stitching and gluing. The shoemaker's “Speedfactory” takes a page from fast-fashion pioneers Zara and H&M, and is key to proving it can profitably make footwear in developed economies. By next fall the facility will employ about 160 people to make 1,500 pairs of shoes a day.
He said, she said. As high-profile London divorce cases go, it's a doozy. At stake in the court battle between Asif Aziz, founder and CEO of investment fund Criterion Capital, and his estranged partner Tagilde, is an estate she values at £1.1 billion ($1.3 billion). The wrinkle: he claims they were never legally married under English law, which would cut her out of the typical 50 percent share of his assets.
Remote island. Located 1,200 miles off the western coast of Africa, the British overseas territory of Saint Helena is where Napoleon Bonaparte was banished in 1815. This month the tiny island will get its first-ever scheduled flights—and two weeks later, its first luxury hotel. If golf, swimming with whale sharks, and beautiful views aren't enough for you, Napoleon's house, complete with the original furnishings, is one of the island's main attractions.
Compiled by Andy Reinhardt and Leila Taha
To contact the editors responsible for this story: Andy Reinhardt at areinhardt2@bloomberg.net, Leila Taha Lisa Fleisher
With assistance from Editorial Board
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