2) An adults-only luxury resort in the Maldives is offering guests (two people max) a year’s worth of unlimited stays in 2021 for $30,000. Called the “Unlimited Stays in Paradise” package, which includes an over water bungalow, free breakfast services, discounts on dining experiences at the resort and spa services. The 5-star adult-only resort has multiple restaurants and private dining experiences, an option for private movie screenings, a spa, and offers fun excursions. Since the start of the coronavirus pandemic, many destinations, Bermuda and Barbados for instance, are taking advantage of people wanting to opt-out of quarantining in their homes for an isolated vacation overseas. Three Hawaiian islands, Maui, Kauai, and the Big Island, considered allowing tourists to vacation in a Resort Bubble, which will allow visitors to safely roam.
3) China’s Ruler Xi Jinping has halted Ant’s record-breaking $37 billion IPO after the company’s boss Jack Ma snubbed government leaders. Jack Ma, Ant’s founder, criticized Chinese government leaders, when a week before the Chinese fintech was set to go public, Ma made incendiary comments that didn’t go down well with the president or other government officials. This is another example of how President Xi deals with any threat to his authority, such as Hong Kong, including a low tolerance for big private businesses that accumulate wealth and power. Ma also criticized the regulators who enforce a set of international banking rules as an old people’s club. The fintech had already secured over $3 trillion in orders from individual investors across its dual listings in Hong Kong and Shanghai.
4) Stock market closings for – 16 NOV 20:
Dow 29,950.44 up by 470.63
Nasdaq 11,924.13 up by 94.84
S&P 500 3,626.91 up by 41.76
10 Year Yield: up at 0.91%
Oil: up at $41.47