Barclays Bank PLC (DJP) prices $924K 5.00% callable notes; callable after one year

A Nigerian court approved a settlement in a dispute involving Shell, Aiteo, and lenders over a $2B financing arrangement related to Shell's 2015 sale of Nigerian oil assets. Shell provided $512M in vendor financing to Aiteo, leading to years of litigation. The settlement's terms are not fully disclosed, but it resolves disputes over the financial arrangements.

Tesla was found liable for fraud and negligent misrepresentation in a Solar Roof lawsuit. The judge ruled after Tesla missed deadlines for evidence production. The case involves an uncompleted project and damages sought by the homeowner. Tesla has admitted to breaching the contract and acting negligently, but disputes the fraud and misrepresentation claims. The trial will focus on compensatory and punitive damages.

The U.S. Air Force plans to invest $1.057 billion in a new complex at Nellis Air Force Base to test and maintain Boeing's F-47 stealth fighter, a sixth-generation aircraft exceeding 2,400 km/h. The facility will evaluate combat capabilities, train crews, and integrate unmanned drones. The F-47 will replace the F-22 Raptor, with speeds over Mach 2 and a 1,600 km combat radius, featuring stealth and advanced sensors.

Alstom signed a €460M contract with the Royal Commission for Riyadh City to supply driverless metro trains for Riyadh's Lines 3, 4, and 6, expanding the existing fleet. The deal, valued at $585.5M including VAT, will be recognized in Q2 of Alstom's 2026/27 financial year. The new trains aim to increase capacity and service frequency, according to Alstom.

UBS analyst Jay Sole downgraded Gildan Activewear (GIL). Wall Street saw volatility, with $2.3T erased in market value, Nasdaq in correction, and VIX up 70%. Strong jobs data raised Fed rate hike bets to 78%, with 10-year Treasury yield at 4.87%. Analysts predict more hikes, noting wage growth lagging inflation. Historically, VIX spikes preceded S&P 500 gains.

GE Aerospace announced US$12.9bn in agreements with China Eastern Airlines (MU) and others at the China International Import Expo. Deals include 202 LEAP-1A engines for Airbus A320neo-family aircraft, spare engines, and long-term support. CFM International, a GE-Safran joint venture, confirmed the engine selection. GE's Q3 results show a US$170bn services backlog and 17% YoY growth in services revenue.