Finance


American hedge fund drove Murdoch's advance on Sky
- December 18, 2016

In the aftermath the company gave up a bid it had made for BSkyB (now simply called Sky), a satellite broadcaster in which it had a stake. The terms of the formal offer, Sky News stated, would mean Fox paying 10.75 pounds per Sky share, for the remainder 61% of Sky. (more...)
Veracity of Santa story that moved the world questioned Veracity of Santa story that moved the world questioned
- December 18, 2016

Not every event is happy, though. WBIR in Knoxville reports it has "independently verified several critical details" of professional Santa Eric Schmitt-Matzen's account of being called by a nurse to a dying boy's ICU bedside but has agreed to not publish them "for the sake of privacy". (more...)
Fed effect smashes euro to 14-year low as dollar soars Fed effect smashes euro to 14-year low as dollar soars
- December 17, 2016

That's the first time it's fallen below $1.04 since early 2003 when the USA was readying for an invasion of Iraq. But home loan costs have closely tracked the federal funds rate for the past 40 years. The rising dollar slugged oil prices, already smarting from concerns about oversupply. "I believe my predecessor and I called for fiscal stimulus when the unemployment rate was substantially higher than it is now", she said. (more...)
Cuba offers rum to pay debt to Czech Republic Cuba offers rum to pay debt to Czech Republic
- December 17, 2016

Zurovec says that the Czechs would still prefer the debt was at least partly paid in cash. Cuba's debt goes back to when the country was part of Czechoslovakia and the wider communist bloc within Eastern and Central Europe. Along with cigars and coffee, rum is one of Cuba's most celebrated products and it may very well be used as a de facto form of currency. Cuba's external debt is around US$25 billion, equivalent to about 31 percent of its GDP. (more...)
In ongoing struggle to maintain relevance, McDonald's begins delivery
- December 17, 2016

For McDonald's, the struggle to stay relevant continues. Customers will be able to place delivery orders through the UberEATS app or website . McDonald's said Thursday it will test delivery through UberEats in three Florida markets next year, a nod to the burger chain's hyperfocus on technology and growing its base of younger customers. (more...)
Say hello to Waymo: Google's self-driving vehicle company Say hello to Waymo: Google's self-driving vehicle company
- December 16, 2016

When the company first initiated its self-driving product at X Labs, it was nearly alone in Silicon Valley in thinking that self-driving cars were a solvable problem. Interestingly, the analyst believes big vehicle companies such as General Motors and Ford might partner with Alphabet to develop self-driving system, but majority will likely opt for their own technology. (more...)
Heineken in bid battle for Punch Taverns Heineken in bid battle for Punch Taverns
- December 15, 2016

Heineken's potential bid would expand its presence across the United Kingdom - with i ts Star Pubs & Bars business already boasting a portfolio of 1,100 British pubs. Edward Mundy, an analyst at Jefferies, said: "We expect Heineken to exercise capital discipline when considering potential acquisitions, however the market may question the strategic logic of allocating capital to both the United Kingdom and pubs, which could be viewed as a defensive move to protect profitability in the United ... (more...)
Consortium offers A$7.3bn counterbid for Tatts Group
- December 15, 2016

Tatts shareholders would receive A$3.40 in cash plus one share in the wagering unit, which would be listed separately on the Australian Securities Exchange or sold. The company's stock closed 8.4 percent higher in Sydney at A$4.49, the highest since August 2007. A spokesman representing the Pacific Consortium declined to comment. (more...)
Are Cabot Oil & Gas Corporation (NYSE:COG) Shares Headed Higher? Are Cabot Oil & Gas Corporation (NYSE:COG) Shares Headed Higher?
- December 15, 2016

RBC Capital Markets maintained the shares of TOG in a report on Tuesday, December 15 with "Outperform" rating. During the same quarter in the prior year, the business earned ($0.01) earnings per share. WARNING: This story was first posted by Marea Informative and is the propert of of Marea Informative. 16/02/2016 - UK Oil & Gas Investments had its "Buy" rating reiterated by analysts at WH Ireland. (more...)
Non-OPEC oil producers to cut output 558000 barrels a day Non-OPEC oil producers to cut output 558000 barrels a day
- December 14, 2016

The Organization of the Petroleum Exporting Countries (OPEC) had previously agreed to cut output by 1.2 million barrels per day (bpd), and on Saturday, 11 non-OPEC producers agreed to join the effort and reduce output by 558,000 bpd. Amrita Sen from consultancy Energy Aspects said: "Compared to two months ago when the prospects of a deal were fading rapidly, this is a huge turnaround". (more...)
Venezuela closes border with Colombia 'to destroy mafia'
- December 14, 2016

In the country, the exchange control imposed in 2003 is still in force, now with two official rates, a preferential rate of 10 bolivares per dollar and a complementary rate of 670 bolivares. While Maduro's critics hold him responsible for the crisis, the leader has blamed the opposition and the business community for the shortage in essential supplies. (more...)
Grammy country committee rejects Beyonce song Grammy country committee rejects Beyonce song
- December 14, 2016

On her tail, Drake , Rihanna, and Kanye West gained eight nominations each. In addition to competing against Rihanna in three categories, Beyoncé is nominated in two of the biggest categories, Album of the Year and Song of the Year , where Rihanna was not. (more...)
Unicredit readies bad loan sales of $18.8 billion Unicredit readies bad loan sales of $18.8 billion
- December 14, 2016

European stocks jumped to an 11-month high on Tuesday as Italian bank shares strengthened after the country's largest lender, UniCredit SpA, rolled out a restructuring plan. The bank will book another 8.1 billion euros in provisions in the fourth quarter to cover bad loans, part of a total 12.2 billion euros in one-time charges in the quarter. (more...)
Trend of lower gas prices appears over
- December 13, 2016

Reuters reported Monday that US crude futures settled up $1.33 at $52.83 a barrel, a 2.6 percent gain, though that was sharply off the day's highs. "Something we have not seen very often is that gas prices have been rising during the month of December", said Patrick DeHaan, senior petroleum analyst at GasBuddy.com. (more...)
Google Home starts Netflix, Google Photos integration Google Home starts Netflix, Google Photos integration
- December 13, 2016

According to Android Police , it doesn't work with everyone. Since its launch, Google Home has already been linked with YouTube, Google Play Music, Spotify and Pandora. And then, you can now see the Videos and Photos group wherein linking an account to Netflix and Google Photos is available. For instance, if you say, "Okay, Google, when's it going to rain again?", it will answer. (more...)
London home prices hit six-year low in December
- December 13, 2016

While the rate of growth has slowed, it is still the seventh consecutive year of rising property prices. The website said house prices declined 2.1% month-on-month in December, taking the average asking prices to GBP 299,159. Rightmove's report also showed demand in London - as measured by sales agreements - was down 7.2 percent in November from a year earlier. Miles Shipside, Rightmove director and housing market analyst, said: "As well as prices moving out of reach for some buyers, the ... (more...)
In confession, Roof said he planned to kill self In confession, Roof said he planned to kill self
- December 12, 2016

Throughout the video, Roof laughs, though it's unclear if his laughter reflected humor, darkness or something in between. He explained that he wanted to leave at least one person alive to tell what happened and complained that his victims "complicated things" when they hid under tables. (more...)
Trump picks Andrew Puzder to lead US Department of Labor
- December 11, 2016

But Debra Ness, president of the National Partnership for Women & Families criticized the selection, saying that the "nomination betrays America's workers, especially women and people of color whose rights he has worked to erode". US Senator Johnny Isakson, who serves as Chairman of the Senate subcommittee on Labour, however, said he is pleased to see that Trump is drawing from his own experience in business to nominate a qualified, successful businessman and job creator to become the next ... (more...)
OPEC deal will go ahead even if only Russian Federation commits
- December 11, 2016

OPEC's oil output set another record high in November, rising to 34.19 million barrels per day (bpd) from 33.82 million bpd in October, according to a Reuters survey based on shipping data and information from industry sources. OPEC last week agreed to slash production by 1.2 million bpd in the first half of 2017, that bolstered crude futures despite doubts over whether the amount was enough. (more...)
Non-Opec countries agree to cut oil output Non-Opec countries agree to cut oil output
- December 11, 2016

Under the deal, Opec also wants oil-producing nations outside the group to lower their output by 600,000 barrels a day. Qatari Energy Minister Mohammed bin Saleh al-Sada, OPEC's president, said Saturday that non-members agreed to cut 558,000 barrels per day, less than the 600,000 barrels a day that OPEC had hoped for. (more...)
Rupert Murdoch's Fox agrees deal to buy Sky
- December 10, 2016

As recently as Monday, James Murdoch, who is also chief executive of 21st Century Fox, said "at this point, we haven't made any decision" on what to do with Fox's Sky stake, but "we've said before that long term, the 39% holding is probably not a natural end state for us". (more...)
Rival views of UK constitution battle it out in Brexit case Rival views of UK constitution battle it out in Brexit case
- December 09, 2016

Prime Minister Theresa May plans to launch European Union exit talks by the end of March using ancient powers known as royal prerogative, which enable governments to join or leave worldwide treaties. "Our submission is that a motion in parliament does not affect, can not affect, the legal issues in this case", he said. Last month, three High Court judges agreed. (more...)
Bank of Canada keeps interest rate at 0.5%
- December 09, 2016

Beata Caranci, chief economist for TD Bank, pointed out this week that there is increasing uncertainty when it comes to economic predictions for 2017. "Consumption growth was robust in the third quarter, supported by the new Canada Child Benefit, while the effects of federal infrastructure spending are not yet evident in the (gross domestic product) data", the bank said its brief, one-page statement. (more...)
Judge Blocks Overtime Rule Judge Blocks Overtime Rule
- December 09, 2016

The Labor Department said Tuesday that it was considering all its legal options. The Department of Labor plans to appeal the ruling to the conservative Fifth Circuit Court of Appeals, but Rylander believes that effort could end when Donald Trump takes office. (more...)
US consumers should feel muted impact from rising oil price US consumers should feel muted impact from rising oil price
- December 09, 2016

After sinking in overnight trading, West Texas Intermediate crude, the main North American contract was up 28 cents at midday to $51.33 United States a barrel. Wednesday's landmark decision to cut output by at least 1.2 million barrels per day came after Riyadh and Tehran finally papered over the differences. (more...)