Interactive Brokers Hit by ‘Significant Failure’ on Platform

Interactive Brokers Group Inc. said it was experiencing “a significant failure” across multiple parts of its data storage system as several hundred users complained that they had lost service.

“We recognize the dislocation this has caused to our clients, and express our apologies,” the Greenwich, Connecticut-based company said Monday in an emailed statement. “Many services have already been restored and the remaining services are expected to be available promptly.”

Robinhood Markets said it had resolved problems with its own platform, and customers of TD Ameritrade Holding Corp. also logged complaints about their service on Downdetector’s website.

It wasn’t immediately clear how many of its more than 1 million customers were affected by the disruption.

The problems started shortly after 6:30 a.m. in New York, with more than 300 people registering complaints on Downdetector’s website by 9 a.m. Social media postings about the online brokerage increased.

Interactive Brokers slid 2.1% to $53.90 at 10:12 a.m.

Kelly Loeffler’s Repetitive ‘Radical Liberal’ Debate Attack Inspires Drinking Game

Twitter users following Georgia Sen. Kelly Loeffler’s (R) debate against her Democratic opponent were so awed at her relentless repetition of the attack phrase “radical liberal” that they were inspired to talk up a drinking game, requiring a shot every time she uttered the words.

One person quipped that anyone who actually stuck to the game rules would be “dead now.”

Loeffler repeated the phrase a lot. People on Twitter counted anywhere from 13 to 24, to “like 50” or “a million” repetitions.

The phrase seemed a bit harsh for Democrat Raphael Warnock. As someone sarcastically quipped: “Nothing says ‘radical liberal’ like a reverend from Georgia.”

China’s Exports Growth Accelerates More Than Expected

China’s exports growth accelerated more-than-expected in November driven by strong demand for electronic goods and medical equipments, official data revealed Monday.

Exports advanced 21.1 percent on a yearly basis in November, the General Administration of Customs reported. This was the biggest growth since February 2018.

Economists had forecast shipments to grow 12 percent after rising 11.4 percent in October.

At the same time, imports grew moderately by 4.5 percent annually, which was faster than the 6.1 percent increase expected by economists but slower than the 4.7 percent increase logged in October.

As a result, the trade surplus increased to $75.4 billion in November. Economists had forecast the surplus to fall to $53.5 billion from $58.44 billion in the previous month.

China’s trade surplus with the United States was $37.42 billion in November.

According to Purchasing Managers’ survey, China’s manufacturing sector grew the most in a decade in November. Orders for manufactured goods continued to grow led by firmer domestic demand. Growth in new export work was not as marked as that seen for total orders.

Last week, the Organisation for Economic Cooperation and Development said the activity in China would to return to its past trajectory, with growth of 8 percent in 2021 and 4.9 percent in 2022.

Hindalco to invest ₹730 cr. in extrusion plant

Unit at Silvassa to go live in 24 months.

Hindalco Industries Ltd., belonging to the Aditya Birla Group, has announced plans to set up a 34,000-tonne extrusion plant at Silvassa with an investment of ₹730 crore. The new plant will service the market for extruded aluminium products in the western and southern regions, the company said in a statement.

“The project in Silvassa signals a big step forward in Hindalco’s downstream strategy as the company revives its long-term downstream investment plan, it said. The company plans to build a larger value-added product portfolio over the next few years and this investment indicated confidence in the economic revival, which in turn would help raise demand for downstream products, it said. Commercial production is expected to start in 24 months. Satish Pai, MD, said, “We are seeing a revival in the economy, with demand picking up in the construction and auto sectors. This has given us confidence to move forward.”

‘RIL, others don’t need govt. nod for gas pricing’

Discretion allowed under new norms.

Reliance Industries and other producers of natural gas will no longer need the government’s approval for gas price if it is arrived at using the new guidelines for the discovery of market price, an official order said.

The Ministry of Petroleum and Natural Gas, last week, notified guidelines for discovery of market prices for domestically produced natural gas via e-bidding.

The companies “shall design the tender/ bid offer, including the eligibility criteria, bid parameters, evaluation criteria, tender fee, salient terms and conditions of Gas Sales Agreement and any other relevant information, etc., with a view to encourage wider participation from prospective buyers, promote competition and maximise the value of natural gas offered,” the order said.

ONGC and OIL are also to follow these guidelines for discovery of market price of natural gas from their fields wherever pricing and marketing freedom have been granted, it added.

Lunch Special: Denver sports live chat with Mark Kiszla – The Denver Post

Got a question about Colorado sports? The Denver Post’s Mark Kiszla is discussing all things Denver sports in a live Lunch Special chat, scheduled to begin at noon on Monday, Dec. 7, 2020.

Mobile users, if you can’t see the live chat, tap here.