- 2019-09-16 10:35:31Z
WeWork, with its estimated valuation crashing, is likely to postpone its public listing until at least October, according to people familiar with the matter. No final decision has been made and the timing could still change, said the people, who asked not to be identified because the deliberations weren't public. Representatives for New York-based WeWork didn't respond to a request for comment.
Brazil's Natura Cosmeticos SA is creating a subsidiary to manage its Singapore operations, the company said on Monday, as the global cosmetics firm seeks to boost its sales in East Asia. In a securities filing, Natura said its board had approved the creation of the subsidiary, which will be 100% held by the parent firm. Natura executives have said the firm is looking to boost its business in Asia and has plans to double its presence in key markets such as Japan and South Korea.
Nexstar is on track to become the U.S.'s largest local television station company after the Federal Communication Commission approved its $4.1 billion all-cash bid to acquire Tribune Media. The FCC voted 3-2 along party lines to approve the merger, which was first announced in Dec. 2018. In order to comply with FCC rules regarding television station ownership, Nexstar has agreements in place to sell a total of 21 local television stations to Tegna, Scripps and Circle City Broadcasting.
In early September, we have seen a violent, significant and largely unprecedented shift in the investment landscape from momentum stocks to value stocks. In response to rising recession fears, investors ditched economically sensitive value stocks that require a good economy to head higher, and piled into momentum growth stocks that don't require a good economy to head higher (because they have such strong secular tailwinds).
Since early 2018, on four separate occasions, Bank of America (NYSE:BAC) stock has traded up to at least $30 per share. Each time, the BAC stock price has subsequently dropped. Three things are now working in Bank of America's favor: Yields are going the right way, the recession scare triggered by the yield curve inversion has faded, and the bank plans to retire a huge load of BAC stock in coming quarters.
There is a feeling in financial markets right now that the U.S. and global economic environments are actually improving. If the U.S. and global economic environments are actually improving, then the long end of the U.S. Treasury yield curve shouldn't be so low. While that is great news for the economy, it's bad news for growth stocks.
A unit of Reliance Communications Ltd., Anil Ambani's distressed telecom firm, has filed for bankruptcy protection. GCX Ltd., which owns the world's largest private undersea cable system, is the latest company owned by the tycoon to stumble. The former billionaire's Reliance Communications itself fell back into bankruptcy earlier this year.
While we do not expect the major royalty companies to be the very top-performers in a metals bull market, these companies - on balance - have the lowest risk of any precious metals sector, second only to bullion itself, notes Adrian Day, editor of Global Analyst. Franco-Nevada (FNV) is the crème of the crop; it has top management, innovative and conservative; a solid balance sheet, with modest debt only twice in that time frame; a willingness to act counter-cyclically; strong diversification in its portfolio; a low cost structure; and a deep pipeline of assets. Only two of its assets contribute more than 10% of its revenue, and the top operator is responsible for only 12%.
Investing a portion of a portfolio across several funds from the same provider, such as the best Vanguard dividend funds, can offer investors protection from market fluctuations and deliver long-term returns, explains income investing specialist Ned Piplovic, editor of DividendInvestor. The lowest yield among these funds is 3.4% and each one of these funds has delivered a total return of more than 10% over the trailing 12 months. Additionally, four of these funds have also delivered double-digit percentage total returns over the past three and five years.
The loss of 5% of world crude oil output from an attack on Saudi Arabia's largest oil processing plant pushed crude prices sharply higher on Monday. U.S. crude oil was trading 9% higher while Brent crude added more than 10%. The attack on the Saudi Aramco facility halted output of more than half of Saudi Arabia's daily exports.
U.S. motorists most likely to feel the hit from rising gas prices following the attacks on Saudi Arabia's oil facilities are on the West Coast, which accounts for nearly half of all of U.S. crude imports from the kingdom. The attacks on Saudi Arabia's oil facilities on Saturday knocked out more than 5% of global oil supply and sent oil prices surging as much as 20%. U.S. pump prices are likely to rise in coming days as gasoline futures spiked by more than 10% on Sunday trading, analysts said.
Retail sales and investment gauges also worsened, data on Monday showed, reinforcing views that China is likely to cut some of its key interest rates this week for the first time in over three years to prevent a sharper slump in activity. Industrial output growth unexpectedly weakened to 4.4% in August from the same period a year earlier, the slowest pace since February 2002 and receding from 4.8% in July. In particular, the value of delivered industrial exports fell 4.3% on-year, the first monthly decline since at least two years, Reuters records showed, highlighting the growing toll on Chinese manufacturers from the escalating Sino-U.S. trade war.
Sep.15 -- Joanne Lim, algorithmic and portfolio trader at Bernstein, discusses her outlook for Chinese stocks. She speaks on "Bloomberg Markets: China Open."
It surpasses the loss of Kuwaiti and Iraqi supply during the Gulf War in August 1990, and the hit to Iranian output in 1979 from the Islamic Revolution, according to the International Energy Agency. The price gap between Brent for delivery this November and December 2020 doubled from $3.57 a barrel at the close of trading Friday to more than $7 on Monday. Calls on West Texas Intermediate crude futures are pricier than puts for the first time since 2018.
S&P 500 Index futures expiring in December dropped as much as 0.8% as of 9:25 a.m. in Singapore. Brent crude soared as much as 19.5% and West Texas Intermediate added 15.5% after the news of the attack on the world's largest crude exporter. The Saudi Arabia attacks will likely hurt Asian stock markets today with the S&P e-mini futures already lower, Jeffrey Halley, a market analyst at Oanda Asia Pacific Pte, wrote in an email.
The New York-based private equity firm agreed to pay C$16.79 a share in cash for Dream Global Real Estate Investment Trust, according to a statement from the companies Sunday. "This transaction is an exciting opportunity for Blackstone to expand its existing office and logistics portfolios in some of the largest and most important markets in the region," said James Seppala, head of Backstone's real estate in Europe. The deal comes less than a week after Blackstone separately said it raised $20.5 billion for its largest real estate fund ever.
(Bloomberg) -- Oil surged along with the yen and Treasury futures after a strike on the heart of Saudi Arabia's oil production increased geopolitical risk concern. U.S. equity futures declined, while shares in Asia opened flat.Brent crude soared 13% and West Texas Intermediate added 12%. News of the
More people are citing flexibility, including temporary assignments, as a key workplace desire - a trend that appears likely to continue thanks partly to technological advances. Both also reflect new ways of thinking about jobs from the perspective of companies and workers. At large employers with 1,000 or more workers, the proportion of contingent, non-traditional jobs his risen to about 22% on average, stable over the past couple years but roughly double the percentage from a decade earlier, according to Staffing Industry Analysts, an employment-research firm.
WASHINGTON/LOS ANGELES, Sept 9 (Reuters) - Dozens of cities in liberal-leaning states such as California, Washington, and Massachusetts are studying proposals to ban or limit the use of natural gas in commercial and residential buildings. The movement opens a new front in the fight against climate change that could affect everything from heating systems in skyscrapers to stoves in suburban homes. Berkeley, California, in July became the first U.S. city to pass an ordinance banning gas systems in new buildings, and it may soon be followed by many others, according to interviews with local officials, activists and industry groups.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. For Republicans, the Texas Miracle may become a victim of its own success.The booming economy that helped the Lone Star State weather the 2008 recession has also sparked a migration there
The country quadrupled gold reserves in the past decade as it diversified away from U.S. assets, a move that has paid off recently as haven demand sent prices to a six-year high. In the past year, the value of the nation's gold jumped 42% to $109.5 billion and the metal now makes up the biggest share of Russia's total reserves since 2000. Russia's central bank has been the largest buyer of gold in the past few years as President Vladimir Putin seeks to break reliance on the U.S. dollar as relations between the countries remain strained.
U.S. prosecutors have charged a Chinese professor with fraud for allegedly taking technology from a California company to benefit Huawei, in another shot at the embattled Chinese telecommunications equipment maker. Bo Mao was arrested in Texas Aug. 14 and released six days later on $100,000 bond after he consented to proceed with the case in New York, according to court documents. According to the criminal complaint, Mao entered into an agreement with the unnamed California tech company to obtain its circuit board, claiming it was for academic research.
Asian stocks tip-toed higher on Monday amid a cautious market mood as investors hoped for stimulus to support growth in the world's major economies. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1%. Global equity markets received a lift after China's central bank said on Friday it was reducing how much cash banks must hold in reserve, releasing liquidity to shore up an economy slowed by the Sino-U.S. trade conflict.
China has added almost 100 tons of gold to its reserves since it resumed buying in December, with the consistent run of accumulation coming amid a rally in prices and the drag of the trade war with Washington. The People's Bank of China raised bullion holdings to 62.45 million ounces in August from 62.26 million a month earlier, according to data on its website at the weekend. Bullion is near a six-year high as central banks including the Federal Reserve cut interest rates as signs of a slowdown mount amid the U.S.-China trade war.
Sep.08 -- Apple Inc. and manufacturing partner Foxconn violated a Chinese labor rule by using too many temporary staff in the world's largest iPhone factory, the companies confirmed following a report that also alleged harsh working conditions. The claims came from China Labor Watch, which issued the report ahead of an Apple event on Tuesday to announce new iPhones. Peter Elstrom reports on "Bloomberg Markets: China Open."
Most Americans don't spend time giving much thought to Africa. But based on my recent trip to Africa, they should.Twenty years ago, the venerable Economist magazine called it the "Hopeless Continent." Even today, stories of poverty, disease, dictatorial states, and corruption often engender feelings of fatalism or exasperation. Here is what many people are missing. Information technology -- especially mobile phones -- is connecting African farmers and producers to new markets, and the continent is now a major buyer of consumer goods from around the world. Better health outcomes mean that Africa's share of the world's population is projected to grow from 16 percent in 2015 to 25 percent in...
A majority of House Democrats favor starting an impeachment inquiry. A majority of Americans oppose it. Now they face a delicate political question.
Disney World's second theme park will likely be its least visited attraction this year. Big changes are on the way, and it means a lot of experiences coming to a close this weekend.
President Donald Trump imposed tariffs to another $112 billion in Chinese imports Sept. 1 and plans to extend import taxes to everything China ships to the United States Dec. 15. The two countries are fighting over U.S. accusations that China steals technology, forces foreign firms to surrender trade secrets and subsidizes Chinese firms in a drive to become a technological powerhouse. The Associated Press spoke with Myron Brilliant , the U.S. Chamber of Commerce's head of international affairs and a veteran of U.S.-China negotiations.
The U.S. shale patch is bracing for an extended period of weak oil prices and drillers and oilfield services firms are cutting staff and reducing budgets to weather the slowdown in North America's fracking growth. While U.S. shale production is booming and the Permian continues to set new production records, the pace of growth is slowing as many companies have recently scaled back production growth targets while investors and bankers continue to be skeptical about the shale industry's returns. Big Oil continues to bet big on the Permian, but many independents have scaled back budgets and production targets, industry executives and analysts tell Reuters.
You can profit from investing in the high-growth, easy-to-understand fast-food industry.
Digging into the copper mining industry can reveal some potential investment opportunities and better explain what it takes to make money from an ore that is growing in value.
Telegram has got the ball rolling on its blockchain-based payments network.
This statistic shows that traders are moving back into the Bitcoin market but they may have no clue where it's going.
Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Teck...
According to Goldman Sachs, the time is now ripe for dividend investing. Similarly, in a recent interview with CNBC, Mark Tepper, president and CEO of Strategic Wealth Partners, commented: "As an investor, it's important to understand that the 30-year yield is pretty much in line with the dividend yield on the S&P 500 right now. For investors looking to pick up some top dividend names, Goldman Sachs screened for stocks with both strong dividend growth and high dividend yields, based on dividend estimates and payout ratios.
These stocks provide dependable high-dividend yields along with solid growth prospects.
Gold The precious metal suffered its biggest daily loss in almost three years on last Thursday, shedding over $40 thanks to the risk-on mood and positive data from the United States. While Gold is positioned for further punishment in the near term, the downside will be capped by global growth concerns and low interest rates across the globe. Where the metal concludes last week and performs in the week ahead will be influenced by the US jobs report scheduled for release on Friday afternoon.
In this article we are going to estimate the intrinsic value of Victoria plc (LON:VCP) by taking the expected future...
TOC Property Backed Lending Trust Plc (LON:PBLT) stock is about to trade ex-dividend in 3 days time. Investors can...
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Oil prices remain stubbornly low despite big output cuts by the so-called OPEC+ group and geopolitical factors such as the U.S. sanctions on Iran. The meeting of the Joint Ministerial Monitoring Committee, a body set up by OPEC+ to oversee its production-cutting strategy, won't reset the group's approach but it might provide some clearer guidance on its goals. The ministers insist that they don't have a target for how far they want the price of crude to rise, and say instead that their aim is to reduce excess stockpiles.
(Bloomberg) -- Istanbul's infamous traffic means that vast seas of idled vehicles are an everyday sight. But the hundreds of cars neatly parked in the neighborhood of Yenikapi have been gathered as an exhibit in the political battle for Turkey.Fresh from ending the long rule of President Recep Tayyip
(Bloomberg) -- China's exports unexpectedly contracted in August with sales to the U.S. shrinking by 16% from a year earlier, as the trade war between the two nations escalates.Exports decreased 1% in dollar terms from a year earlier, while imports declined 5.6%, leaving a trade surplus of $34.84 billion
It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be...
Luk Fook Holdings (International) Limited's (HKG:590) released its most recent earnings update in July 2019, which...
(Bloomberg) -- While one Iranian tanker is attracting global attention, serious oil watchers remain absorbed by a bigger mystery: the hunt for the rest of Iran's fleet.The quest has led to ever more inventive methods of tracking ships, and divergent views on the amounts of crude secretly slipping into
(Bloomberg) -- Boeing Co. suspended testing of its 777X aircraft Saturday after a cargo door failed in a ground stress test, Reuters reported, citing a statement from a company spokesman."During final load testing on the 777X static test airplane, the team encountered an issue that required suspension
As presidential hopefuls travel Iowa seeking to woo voters, their families often join them for the ride, in some cases taking on participatory roles.
This weekend's Barron's offers three cheap stock picks for impatient investors. Other featured articles discuss how to play the alternative meat, athleisure and mobile gaming themes. Also, the prospects for an aerospace giant, a beleaguered drugmaker a mobile payments company and more.