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2 – Premier Rachel Notley announced across-the-board oil production cuts would be imposed starting in January to reduce a glut of oil that had increased the price discount on the province’s oil compared with the North American benchmark. She ordered an 8.7 per cent reduction in oil production, reducing raw crude and bitumen production by roughly 325,000 barrels per day.

27 – MPs unanimously endorsed a motion to revoke the honorary Canadian citizenship of Myanmar’s de facto leader, Aung San Suu Kyi. The move came after a United Nations fact-finding mission found the Myanmar military was committing genocide against the Rohingya and other ethnic minorities, and that Suu Kyi had failed in her duty to protect her own citizens.

VW says even the smallest of the MEB cars will be able to house the largest battery pack, and all cars have packaging space reserved for inductive charging.

23 – In a bid to survive after New Brunswick’s cliffhanger election, the minority Liberal government presented a throne speech outlining what it said was a framework for collaboration.

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I am always dubious about anything coming out of Wall Street - which is, let's face it, a den of thieves and pickpockets, unscrupulous scoundrels who long ago abandoned even a pretense of morality and ethics.  These pigs are out there specifically to separate you from your cash and put it into their own pockets.  So the first question on this (or any) IPO is:  what does the seller plan to do with the capital it raises?  Are the owners simply cashing out, transferring future risk onto your shoulders?  Or is there a real need for new capital, in order to build new plant or acquire a competitor?  And if so, are debt issues being also considered, and what is the state of the debt load on the firm?

Ternium (NYSE:TX) last posted its quarterly earnings data on Tuesday, October 30th. The basic materials company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.89. Ternium had a return on equity of 21.81% and a net margin of 11.58%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts forecast that Ternium will post 6.89 EPS for the current fiscal year.

Part of the reason for continuing demand for expensive goods is that those goods are complex, and thus require a high level of integrated skill to produce.  For example, take the conundrum of massive cruise ships, the stuff of Costa Concordia size, now being built at 140,000 tons, a floating city of 5,000 guests and another 2,500 staff.  These monsters are invariably built up an obscure North German River, the Ems, at the town of Papenburg, at the Meyer Werft shipyard, which has been around in the Meyer family since 1795  (the current CEO is Jan Meyer, no surprise).  Here in this tiny town you have this monster shipyard with 3,300 men building the world's cruise ships.  German (and danish) shipwrights will earn easily the equivalent of $50,000/year each; the men in yards in Romania are paid $2,500./year, and in say Poland perhaps $4,000./year.  So the logical approach you would think would be to build the hull (if not the entire ship) in Romania, then tow it up to Germany or Denmark and do the outfitting there. 

19 – Global Affairs Canada said it was providing assistance to the family of a third Canadian detained in China. It did not release the person’s name or hometown, but officials said the government had no reason to believe the case is linked to the recent detention of two other Canadians in China tied to the arrest of senior Chinese tech executive Meng Wanzhou in Vancouver.

Global Galvanization Market Competitive Players: (Arcelor,RIVA,Severstal,Hyundai-steel,Rio Tinto,Nippon Steel Corporation,JFE,Concord,Youfa,WISCO)

The regulator also argued that Eskom’s free cash flow is expected to be positive, even with the lower increase, and that the utility can further improve its cash flow position through capital expenditure (capex) rationalisation, along with better working capital management.

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