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Global Automotive Usage-Based Insurance Market | Use of Smartphone-enabled Programs to Boost the Market Growth

October 10, 2020

The global automotive usage-based insurance market size is poised to grow by 37.25 million units during 2020-2024, progressing at a CAGR of almost 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201009005433/en/

Technavio has announced its latest market research report titled Global Automotive Usage-Based Insurance Market 2020-2024 (Graphic: Business Wire)

The growth in smartphone-enabled programs and their usage will be a significant factor driving the growth of the automotive usage-based insurance market. Automotive OEMs are increasingly collaborating with smartphone and tablet manufacturers to provide in-vehicle products and services.

Global stocks follow Wall Street higher on stimulus hopes

October 9, 2020

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BEIJING (AP) — Global stock markets and Wall Street futures rose Friday after President Donald Trump said talks had resumed on an aid package for the struggling U.S. economy.

London and Frankfurt opened higher. Shanghai and Sydney advanced. Tokyo and Hong Kong declined.

Wall Street gained Thursday after President Donald Trump, who earlier called off negotiations with legislative leaders, said “very productive” talks had begun. Separately, a report indicated the near-record pace of U.S. job losses might be slowing.

Stock prices have been volatile since mid-September as investors swing between optimism about possible development of a coronavirus vaccine and unease that markets recovered too fast and shares are too expensive.

“When the world’s financial markets are at the mercy of the randomness emanating from the White House, it is hardly surprising that investors elsewhere would prefer to wait on the side-lines,” said Jeffrey Halley of Oanda in a report. “Unfortunately,

Global Stocks Advance with Futures; Dollar Drops: Markets Wrap

October 9, 2020

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(Bloomberg) — Global stocks headed toward their best weekly gain since July and U.S. futures also climbed as European companies boosted guidance and the White House suddenly signaled an openness to large-scale stimulus.

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Shares rose in Europe on a host of companies raising outlooks, from Denmark’s drugmaker Novo Nordisk and jewelry producer Pandora to German online clothing retailer Zalando. Property firm British Land Co. gained on reinstating its dividend. Stocks underperformed in Spain, where the government is weighing a state of emergency for the capital to control the spread of Covid-19.

Italy’s 10-year bond yield fell to a record low amid fading domestic political risks and central-bank support. S&P 500 contracts rose following reports Treasury Secretary Steven Mnuchin told Nancy Pelosi that President Donald Trump wants agreement on a comprehensive aid package. Treasuries gained and the dollar retreated.

chart: MSCI gauge of global equities heads for best week since early July

© Bloomberg
MSCI gauge of global equities heads for best

GLOBAL MARKETS-Global shares advance on stimulus, Biden victory hopes

October 9, 2020

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By Hideyuki Sano

TOKYO, Oct 9 (Reuters) – Asian shares inched towards 2-1/2-year highs on Friday as revived hopes for a U.S. stimulus deal eclipsed weaker-than-expected jobs data, while mainland Chinese markets jumped after a week-long holiday.

Investors were also increasingly expecting the Democrats to take back the White House, and possibly the Senate as well, in the Nov. 3 U.S. election, analysts said.

A widening lead for Democratic presidential candidate Joe Biden is seen as reducing the risk of a contested election and opening the way for a big economic stimulus, helping to counter investors’ wariness about a Democrat pledge to hike corporate tax rates.

European shares are expected to open higher with Euro Stoxx50 futures STXEc1 rising 0.1% in early trade.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.34%, inching closer to its Aug. 31 peak, which was its highest level since March 2018.

Sunrise shareholders accept Liberty Global tender offer

October 9, 2020

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ZURICH, Oct 9 (Reuters) – Liberty Global LBTYA.O cleared a key hurdle in its all-cash 6.8 billion Swiss franc ($7.43 billion) tender for Switzerland’s Sunrise Communications SRCG.S, with provisional results on Friday showing an acceptance rate of nearly 82%.

In the surprise deal announced in August, Liberty Global offered 110 Swiss francs per share in Sunrise, Switzerland’s No. 2 telecoms company. One condition was that it get at least two thirds of the shares.

Shares closed on Thursday at 109 francs, up 43% this year.

An additional acceptance period now runs until Oct. 28. Liberty Global intends to initiate a squeeze-out procedure and delist Sunrise shares from trading on the SIX Swiss Exchange once the deal is set.

The agreed deal reversed Sunrise’s failed bid to buy Liberty’s Swiss business last year and marked a strategic reversal by the

McDonald’s global sales improve in third quarter versus second quarter after coronavirus disruption

October 9, 2020

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By Hilary Russ

NEW YORK (Reuters) – McDonald’s Corp <MCD.N> global sales improved in the third quarter versus the second quarter, down just 2.2% year over year, as drive-thru orders surged and special promotions lifted sales to double-digit percentage increases in September, the company said on Thursday.

Comparable sales had plunged nearly 24% the previous quarter as dining rooms shut and U.S. customers stayed home during the early months of the coronavirus pandemic.

Amid the uncertainty earlier this year about the outbreak and its impact on operations, the Chicago-based burger chain held back on advertising spending but has now begun to deploy that stash of cash in national campaigns.

In mid-September, it launched a limited-time promotional deal with rapper Travis Scott and quickly began to run out of ingredients to assemble its signature Quarter Pounder sandwich, which was featured in the meal.

It also added Spicy Chicken McNuggets and ran

GLOBAL MARKETS-Asian markets to inch up as U.S. stimulus talks restart

October 9, 2020

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By Imani Moise

NEW YORK, Oct 8 (Reuters) – Asian shares were set to track Wall Street gains on Friday as revived hopes for a U.S. stimulus deal helped investors overlook weaker-than-expected jobs data and growing global coronavirus cases.

In energy markets, oil prices rallied on production shutdowns ahead of a storm in the U.S. Gulf of Mexico and the possibility of supply cuts from Saudi Arabia and Norway. O/R

U.S. President Donald Trump on Thursday said talks with Congress had restarted on targeted fiscal relief, after calling off negotiations earlier this week.

House Speaker Nancy Pelosi downplayed the likelihood of stand-alone bills without more comprehensive aid, but the fact that talks had resumed was enough to lift markets.

Futures for the S&P 500 EScv1 rose 0.44%, Australia’s S&P ASX 200 futures YAPcm1 were 0.20% higher and Japan’s Nikkei 225 futures NKc1 added 0.32% in early Asia.

Mixed messages

GLOBAL MARKETS-Wall St gains, crude settles higher on signs of pandemic aid talks progress

October 8, 2020

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By Stephen Culp

NEW YORK, Oct 8 (Reuters) – U.S. stock indexes touched one-month highs and crude prices gained ground on Thursday amid signs of progress in fiscal aid negotiations.

U.S. House Speaker Nancy Pelosi said emergency aid for commercial airlines was a matter of national security and could only pass through Congress with assurances that negotiations will continue toward crafting a broader pandemic relief package.

And while White House adviser Larry Kudlow said the Trump administration would like to see “standalone” bills to provide additional unemployment assistance and extend the Paycheck Protection Program, Senate Leader Mitch McConnell warned there remain “vast differences” between Democrats and Republicans regarding the size of a more comprehensive deal.

“We’re seeing the broad market lift and certainly cyclical sectors are doing well,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “That shows that the market is anticipating some kind

Global Stocks Rise on Optimism That Some Stimulus Will Get Enacted After All

October 8, 2020

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White House chief of staff Mark Meadows is interviewed outside the White House on Oct.... — White House chief of staff Mark Meadows is interviewed outside the White House on Oct. 7, 2020 in Washington, D.C.

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Stocks gave up some of their morning gains on Thursday, but remained in the green in afternoon trading.

House Speaker Nancy Pelosi said earlier that she wouldn’t support a narrower stimulus bill including targeted aid for airlines. It remains all or nothing for a fiscal and coronavirus relief package, with party leaders still far apart on its size and scope.

Indexes across the globe were still holding on to modest gains, however, helped by a number of incrementally positive factors.

There was reason for optimism on the Covid-19 vaccine and treatment front, with President Donald Trump touting

Regeneron Pharmaceuticals

’ (ticker: REGN) antibody cocktail and the company saying it would seek emergency use authorization. And betting odds of a Democratic election victory in November ticked higher

Opec rejects projection that global demand for oil has peaked

October 8, 2020

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The world’s most powerful oil-producing nations have denied that oil demand may have already reached its peak and have claimed that the world will continue to consume more fossil fuels for almost 20 years.

A new report from the Opec oil cartel, which represents the interests of countries including Saudi Arabia and Iran, has predicted that the world’s appetite for oil will continue to rise before reaching a plateau in the late 2030s.

The research arm of the Vienna-based cartel said oil use would rise from just below 100m barrels a day last year to 109m barrels in 2045 after recovering from the severe slump in demand during the coronavirus pandemic.

“Oil will be needed for years to come, and even if demand plateaus in the long-term, it will remain a key fixture in the energy mix,” the group’s report said.

Opec

White House chief of staff Mark Meadows is interviewed outside the White House on Oct. 7, 2020 in Washington, D.C.