Evening Briefing Europe: Las Vegas, Catalonia, Banks, Michelin
(Bloomberg) -- The evening briefing will soon be available in your inbox every day. Sign up here.
Hours after a gunman opened fire on a concert in Las Vegas, President Donald Trump struck a somber tone as he addressed the nation—and the world—from the White House. Calling the shooting an “act of evil,” Trump pledged to visit the city on Wednesday. At least 50 people were killed and more than 400 injured in the worst shooting in U.S. history. The aftermath is sure to test Trump's leadership as the gun-control debate returns to the agenda. — Adam Blenford
Is this what democracy looks like? The independence referendum in Catalonia was bound to be messy: Spain's government declared it illegal in advance and took strong steps to block the vote. That led to a day of violence that injured hundreds of people and drew international condemnation. Unofficial results showed 90 percent of voters supported seceding from Spain, and Catalan leaders said they might issue a unilateral declaration of independence as soon as this week. Spanish Prime Minister Mariano Rajoy said the ballot was illegitimate and vowed to double down on the breakaway region. How far can the rebellion go?
Banks and Brexit. As banks prepare to move hundreds, if not thousands, of employees out of the U.K., they're finding the bills could reach $500 million. Costs are climbing as banks find it difficult to persuade Londoners to move abroad. A shortage of experienced bankers in Dublin, Paris and Frankfurt could force firms to resort to costly relocation packages that include housing, private schools and other perks.
Packaged tours. U.K. carrier Monarch filed for insolvency, Britain's biggest-ever airline collapse, leaving the government to arrange for 110,000 tourists to return home. Monarch was put under administration and its license suspended. It's the third failure of a major European operator in five months, following bankruptcy filings by Alitalia and Air Berlin.
Electric car blitz. By the end of the year, electric-car maker Tesla will have burned through more than $10 billion in capital, and now companies around the world are lining up to compete with it. By 2022, almost 50 new electric car models will come to market, including vehicles from Daimler and Volkswagen. Regulators are pushing electric cars, and it doesn't hurt that Tesla CEO Elon Musk has captured the imagination of of consumers and investors.
Making nice. A few years ago, Google regularly traded barbs with major news publishers in public. Today, Google is rewiring its search engine to appease them. The company will drop its controversial “first-click free” program and won't demote paywalled news sites in search results. It also promises to give publishers new tools to attract paying customers.
More stars. Michelin & Cie announced its annual restaurant rankings for the U.K. today, and a total of 19 establishments joined the exclusive group holding one or more stars. Japanese restaurant Araki, which seats only nine diners at a time and serves a single £300 ($398) sushi menu on Monday, became only the fifth establishment in the U.K. to hold three Michelin stars. Claude Bosi at Bibendum, a new London restaurant, was awarded two stars, taking that cohort's total to 20.
Compiled by Andy Reinhardt and Leila Taha
To contact the editor responsible for this story: Andy Reinhardt at areinhardt2@bloomberg.net, Leila Taha
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.