The Week That Was- 18th November
Paris was hit by a horrific series of attacks masterminded by ISIS in which over a 120 people died. France has since intensified air raids against ISIS in Raqqa, Syria, as well as cracked down to find the culprits behind the attacks.
The Marriott Group launched a bid to buy fellow rival Starwood Hotels for $12.2 billion in a deal that will make it the world biggest hotelier. The merger comes during a period of consolidation in the industry as hotels face competition from the sharing economy.
Nobel Prize winner Aung San Suu Kyi’s party secured a historic victory in presidential elections held in Myanmar this week. This election was the first proper one to be held after 25 years of army rule in the South Asian country.
AB InBev made a formal offer of £71bn for its chief rival SABMiller. The combined entity will produce one in every four beers in the world.
Deviating significantly from his American counterpart, BoE governor Mark Carney announced that the UK would not be raising rates till the second half of 2016 as weak global growth and strong global spending would keep UK growth and inflation under control. However after strong US jobs data on Friday, Fed Chair Janet Yellen is even more likely to raise US rates in December.
Microsoft chief Satya Nadella announced that the company would be offering data storage to its foreign customers in European facilities under the control of Deutsche Telekom- thus protecting it from snooping by the US government.
Oil prices fell below $45 a barrel and copper prices plunged to a fresh six year low as the crisis in commodities continued in spite of cuts in production by manufacturers. Earlier this week platinum producer Lonmin was forced to announce a rights issue at 1p a share to keep the company solvent.