Plastic bottles repaving South Africa’s roads

A South African company is taking plastic bottles out of landfill to make roads.

(CNN Business)Plastic milk bottles are being recycled to make roads in South Africa, with the hope of helping the country tackle its waste problem and improve the quality of its roads.Potholes cost the country’s road users an estimated $3.4 billion per year in vehicle repairs and injuries, according to the South African Road Federation, as well as damaging freight.In August, Shisalanga Construction became the first company in South Africa to lay a section of road that’s partly plastic, in KwaZulu-Natal (KZN) province on the east coast.It has now repaved more than 400 meters of the road in Cliffdale, on the outskirts of Durban, using asphalt made with the equivalent of almost 40,000 recycled two-liter plastic milk bottles.


Alibaba’s Singles’ Day sales hit record $38 billion; growth slows

By Josh Horwitz

HANGZHOU, China (Reuters) – Chinese retailer Alibaba Group Holding Ltd’s sales for its 24-hour Singles’ Day shopping blitz hit a record $38.4 billion, more than U.S. rival Inc’s haul last quarter from online store sales.

But sales growth for the annual shopping festival eased to 26%, the weakest since the event started in 2009, held back by a slowing e-commerce industry in China as the country’s economic expansion heads toward a historic low.


Wall Street Democratic donors warn the party: We’ll sit out, or back Trump, if you nominate Elizabeth Warren

Democratic donors on Wall Street and in big business are preparing to sit out the presidential campaign fundraising cycle — or even back President Donald Trump — if Sen. Elizabeth Warren wins the party’s nomination.

In recent weeks, CNBC spoke to several high-dollar Democratic donors and fundraisers in the business community and found that this opinion was becoming widely shared as Warren, an outspoken critic of big banks and corporations, gains momentum against Joe Biden in the 2020 race.


Nike posts another strong quarter thanks to digital strategy

The footwear and apparel company on Tuesday posted earnings of $0.86 per share for the three months ending in August, up 28% from the same period in the prior year. That growth was driven by a 7% increase in revenue and expanding gross margins in direct to consumer sales. Total net income was up 25% in the quarter to $1.4 billion.


Bob Iger on why Disney walked away from Twitter: ‘The nastiness is extraordinary’

Disney called off a deal to buy Twitter because the platform was just too problematic, CEO Bob Iger revealed in a New York Times interview.

Disney considered buying the social media company, calling it a “compelling” way to reach consumers. However, the deal never went through and Disney instead purchased a majority stake in sports streaming site BAMTech.


U.K. Launches Massive Tourist Airlift After Thomas Cook Collapse

The U.K. government deployed the “largest repatriation in peacetime history” to bring home more than 150,000 tourists stranded on overseas beaches and in vacation hotspots by the collapse of tour operator Thomas Cook Group Plc.


Gold prices surge today, silver prices jump over ₹1,300 in a day

Gold and silver prices in India jumped sharply tracking higher global rates and a softer rupee. On MCX, October gold futures prices today shot up by 1.7% to ₹38,163 per 10 grams as compared to Friday’s close of ₹37,503. Silver prices on MCX also shot up by 3% or ₹1,326 to ₹47,087 per kg. 


Two Major Saudi Oil Installations Hit by Drone Strike, and U.S. Blames Iran

Drone attacks claimed by Yemen’s Houthi rebels struck two key oil installations inside Saudi Arabia on Saturday, damaging facilities that process the vast majority of the country’s crude output and raising the risk of a disruption in world oil supplies.


Hong Kong Exchange Makes Unsolicited $36.6 Billion LSE Bid

Hong Kong Exchanges & Clearing Ltd. made an unexpected $36.6 billion bid for London Stock Exchange Group Plc, a bold move that would upend the U.K. bourse’s combination with Refinitiv.


5 Reasons WeWork’s Gigantic IPO Valuation Plunged 69%

In the age of the unicorn valuation, WeWork is only the latest company to incur massive losses and still fetch a valuation in the tens of billions of dollars.

That’s the kind of stock market that should scare investors. Not only is it indicative that the market itself is overvalued, but investors in IPOs of these unicorns are getting burned. We already know that the Uber and Lyft IPOs have been crushed – and been an incredible disappointment to investors.

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