ExxonMobil wrote down $20bn-worth of assets in natural gas. The energy company was the world’s biggest by market capitalisation seven years ago. It has yet to report a profit this year and was removed from the Dow Jones Industrial Average in August.
Turkey’s economy grew by 15.6% in the third quarter over the previous three months, and by 6.7% compared with the same quarter last year. The spurt in growth was fuelled by government-backed credit. However, with exports falling, a widening current-account deficit could spell more trouble for the lira.
India’s economy is still struggling, contractingby 7.5% in the three months ending September, year on year. Still, that was an improvement on the previous quarter, when GDP shrank by 24%.
The OECD’s latest outlook forecast that global GDP will return to pre-pandemic levels by the end of next year, if outbreaks of COVID-19 are under control and vaccines are widely available. It forecasts the world economy will grow by around 4% in both 2021 and 2022. The recovery will be uneven, however. China and other non-oecd countries will chalk up faster growth rates than developed ones.
In Britain, the pandemic pushed more long-struggling retailers to the wall. Arcadia, which owns a string of high-street clothing brands, such as Topshop and Burton, fell into administration. That led the firm behind a potential rescue of Debenhams to pull out of its deal; the department-store chain now faces liquidation. The collapse of both retailers puts 25,000 jobs at risk.
Hewlett Packard Enterprise, which provides computer servers and IT services, decided to move its headquarters from Silicon Valley to Houston. In 2015 HPE split from the pc-and-printer business that was Hewlett Packard, a computing pioneer born in Silicon Valley and often synonymous with the famous tech cluster. HP computers is still based there, though the region’s high living costs and terrible traffic have made Texas a tempting location for many tech companies.
提供計算機服務器和IT服務的惠普企業(Hewlett Packard Enterprise)決定將總部從硅谷遷至休斯頓。2015年，惠普企業從個人計算機和打印機業務中獨立出來。惠普是誕生於硅谷的計算機先驅，通常是著名科技集羣的代名詞。儘管加州的高物價和糟糕的交通狀況迫使許多科技公司搬往得州，但惠普電腦公司仍將保留舊園區。