- 2019-07-15 18:52:34Z
SAO PAULO/RIO DE JANEIRO (Reuters) - Two Iranian vessels have been stranded for weeks at Brazilian ports, unable to head back to Iran due to lack of fuel, which state-run oil firm Petrobras refuses to sell them due to sanctions imposed by the United States. The vessels Bavand and Termeh came to Brazil a couple months ago carrying urea, a petrochemical product used as fertiliser. Food is not covered by U.S. sanctions, and Iran is one of the largest buyers of Brazil's agricultural commodities, importing more than 2.5 million tonnes of Brazilian corn so far this year - more than any other country.
Stocks Top Investors Are Buying Now But QCOM stock looks like a tough dividend stock to stomach. After all, Qualcomm stock is bouncing around more than high-octane growth names like Shopify (NASDAQ:SHOP) and Roku (NASDAQ:ROKU), with the latter name recently hitting new, all-time highs. The bottom line is that there are far less volatile names with yields similar to that of QCOM stock.
The decrease in growth in new cloud bookings, a keenly watched metric because it indicates future revenue, underscores the difficult transition to internet-based software as Chief Executive Officer Bill McDermott challenges rivals such as Salesforce.com Inc. and Oracle Corp. Cloud sales can initially be less profitable than traditional on-premise installations, and while the company has pledged to increase its non-IFRS operating margin by 1 percentage point a year on average through 2023, profitability was flat in the second quarter. SAP's second-quarter performance was "underwhelming," Citi analyst Walter H. Pritchard said in a note to clients, citing "light" cloud bookings and...
British online fashion retailer ASOS dented profit expectations for the third time in eight months on Thursday, saying problems in ramping up warehouses in the United States and Germany had hit sales and increased costs. "Clearly management need to rebuild credibility in their financial guidance," said analysts at Shore Capital. ASOS, which sells fashion aimed at twentysomethings, issued a shock profit warning in December, and in March said its new U.S. warehouse was struggling to cope with demand, hitting sales there and adding to challenges in France and Germany.
(Bloomberg) -- Taiwan Semiconductor Manufacturing Co. projected current-quarter revenue ahead of estimates, as the Apple Inc. supplier shrugs off a smartphone slump and U.S. sanctions on Huawei Technologies Co. to ride demand for cutting-edge chips.The world's largest contract chipmaker expects sales
The job of the European Central Bank's finance industry supervisors, who have to make sure the revamp goes smoothly, won't be easy either. The ECB will need to use its regulatory stick and carrot wisely. This means standing by the lender in its sensible efforts to downsize, but being ready to demand more capital if the attempt doesn't go according to schedule. Andrea Enria, head of the Single Supervisory Mechanism (the ECB's banking supervisory body), dodged a bullet in April when Deutsche and its domestic rival Commerzbank AG decided not to merge.
China's total corporate, household and government debt rose to 303% of GDP in the first quarter of 2019, from 297% in the same period a year earlier, the IIF said in a report this week which highlighted rising debt levels worldwide. "While authorities' efforts to curb shadow bank lending
Once one of the world's most powerful and notorious criminals, Mexican drug lord Joaquin "El Chapo" Guzman was sentenced to life imprisonment Wednesday -- the mandatory punishment for a host of crimes spanning a quarter-century. Guzman, the 62-year-old former co-leader of Mexico's mighty Sinaloa drug cartel, was convicted in February in US federal court on a spate of charges, including smuggling hundreds of tons of cocaine, heroin, methamphetamine and marijuana into the United States. The much-anticipated hearing in New York capped a dramatic legal saga and saw Guzman -- wearing a gray suit, lilac shirt, purple tie and trademark mustache -- somberly take in his punishment.
The shares plunged as much as 13% to $314 in late trading after Netflix reported the loss of 130,000 customers in the U.S. -- the result of higher prices and a weak slate of TV shows. It signed up 2.8 million subscribers internationally in the period, roughly half what the company predicted. "Netflix has a difficult road ahead, with looming competition and the removal of popular content," said EMarketer Inc. analyst Eric Haggstrom.
Ray Dalio, billionaire investor and co-chairman of Bridgewater Associates, called on investors in a research note to prepare portfolios for the coming transition out of this decade's central bank-led reflationary environment into a future met with unsustainably large liabilities and rising social and geopolitical tensions. The note, titled Paradigm Shifts, is a summation of ideas Dalio has formed throughout his career studying markets, as well as a targeted focus this past year to study economic and market moves in major countries over the last 500 years.
The House voted overwhelmingly to repeal a tax Wednesday intended to fund the Affordable Care Act, preserving tax breaks for employer-sponsored insurance plans favored by large corporations. In a reversal of the usual partisan roles, Democrats rather than Republicans led the charge to kill a key part of Obamacare. The bill to repeal the levy commonly known as the "Cadillac tax" passed 419-6 with bipartisan support.
International Business Machines Corp posted a 4.2% fall in quarterly revenue, in line with analysts' estimates, as weakness in its legacy businesses of selling hardware and software offset growth in its high-margin cloud computing unit. The Armonk, New York-based technology services giant, which
In 2019, cloud giants Amazon (NASDAQ: AMZN) and Microsoft (NASDAQ: MSFT) are battling over a potentially $10 billion contract. The Joint Enterprise Defense Infrastructure (JEDI) project could be the crown jewel of cloud contracts. The deal itself is worth $10 billion, which may not directly move the needle for Microsoft and Amazon stock.
WTI Crude Oil The WTI Crude Oil market rallied a bit during the trading session on Wednesday but then gave back quite a bit of the gains to cross below the 50 day EMA again. By forming the candle stick that we have, it looks very likely that we are going to drop down, perhaps to the $56 level, possibly even the $55 level underneath there. I think that the market is starting to show signs of extreme weakness, so if we drop below the bottom of the candle stick for the trading session on Wednesday, then there could be a bit of a "flush lower.
Infamous drug kingpin Joaquín Guzmán Loera -- known as El Chapo -- was sentenced to life in prison in New York on Wednesday morning. Here's a look at how much he could have.
The $1.4 trillion market for Treasury Inflation-Protected Securities shows expectations for consumer-price gains are moving closer to the Federal Reserve's target as so-called breakeven rates trade at the highest since May. Another gauge of inflation expectations monitored by policy makers -- the five-year, five-year forward swap -- has surged in the past month too. "The pain trade for the summer remains up in stocks and yields," warned Michael Hartnett, chief investment strategist at Bank of America Corp. after the firm's latest survey of money managers found a long Treasury position was the most-crowded trade last month.
(Bloomberg) -- A former Credit Suisse banker best known for his role in privatizing Russian state assets after the fall of communism is capitalizing on another transformative moment, this time in the U.S.Boris Jordan, 53, is getting rich from cannabis. His 31% stake in Curaleaf Holdings Inc., the biggest
Delay Taking Social Security If you are physically able to keep working past retirement age, you may be able to generate income for current expenses and boost your Social Security payments. Your Social Security benefits will increase each month that you delay collecting payments until age 70. "For most people, the delay from 67 to age 70 can be the same as if they saved $80,000 to $100,000 additional in those few years," says Roger Gainer, a retirement income certified professional and president of Gainer Financial & Insurance Services in San Rafael, California.
(Bloomberg) -- Laurence Blau, 78, woke up Tuesday morning to a frustrating figure: $6,410.That's the dollar amount that Tesla Inc. had lopped off the list price of a fully loaded performance edition of the Model 3 sedan the night before. Blau, who paid $68,400 for the car less than three weeks earlier
Managing your income by using the right mix of investments and annuities in retirement could help you trim your retirement tax rate to under 10% ... even for those investors with $4 million in assets.
(Bloomberg Opinion) -- When news broke last week that a right-wing member of Israel's government, Rafi Peretz, had remarked that assimilation of American Jews is a "second Holocaust," a column in the left-leaning Haaretz newspaper braced for the worst reaction, proclaiming, "Israel's Education Minister
Only a small percentage of Americans who reached millionaire status feel wealthy, according to a new survey from Ameriprise Financial. Why is that?
The New York hedge fund, run by billionaire Paul Singer, disclosed earlier Wednesday that it holds 5.1% of voting rights in the company through financial instruments. Saga is valued at about 516 million pounds ($640 million). "We have good and open relations with all of our shareholders and expect to be in contact with Elliott shortly," a representative for Saga said in an emailed statement.
Canopy CFO Mike Lee dishes on growth expectations for fiscal 2020.
(Bloomberg) -- Stocks in Europe drifted, U.S. equity futures edged higher and Asian shares were mostly down as fresh trade tensions offset solid economic data and a raft of corporate earnings. Treasuries were steady and European government bonds climbed.The Stoxx Europe 600 index fluctuated between gains
Anglo-German chip designer Dialog Semiconductor on Wednesday raised its second-quarter earnings outlook, citing strong revenue and gains from a transfer of assets to iPhone maker Apple. The operating profit includes $28 million in one-offs, including $16 million on the transfer of assets to Apple and
In March 2018, the Chilean government unveiled big news: Corporate investors, including South Korean electronics giant Samsung, would build three factories in Chile to produce battery parts for electric vehicles. Chile had lured the companies with an enticing offer. In exchange for helping the South American country, the world's No. 2 miner of lithium, jumpstart its own EV battery industry, the firms would get a guaranteed supply of the coveted metal at attractive prices for nearly three decades amid a global race to lock down supplies.
(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.After years betting solely on Kweichow Moutai Co., Dong Baozhen is diversifying.The money manager's flagship fund has returned 785% since its inception in 2010. He trounced the Shanghai
Jul.16 -- Becky Liu, head of China macro strategy at Standard Chartered, discusses the rally in China bonds, China's debt profile and the job market. She speaks on "Bloomberg Markets: China Open."
The company, which delayed its IPO amid market jitters in May, sold 44.9 million American depository shares for $11.50 each, according to a statement. At bottom-end pricing, the company is valued in the listing at about $3.7 billion, based on the number of shares listed as outstanding in its filings with the U.S. Securities and Exchange Commission. It is the biggest cross-border listing from China since Tencent Music Entertainment Group raised $1.07 billion in December.
According to data from U.S. Customs and Border Protection, the tariffs President Trump has imposed on Chinese imports have generated $20.8 billion so far, Ana Swanson and Jim Tankersley of The New York Times reported Tuesday.Trump has portrayed this revenue as a great victory, with billions of dollars
(Bloomberg) -- The Trump administration urged a federal appeals court to put on hold an order that would force Qualcomm Inc. to change how it licenses its patents, saying the case "threatens competition, innovation, and national security."The filing Tuesday with the U.S. Court of Appeals in San Francisco
In the year-ago period, the business posted a profit of $239 million, or 86 cents per share-this amounts to a year-over-year gain of 6.7% in this metric. It was a positive period for Fidelity National as its earnings total surpassed the 86 cents per share that analysts were calling for. The company added that its title adjusted pretax profit totaled $363 million, about 7.7% higher than the $337 million from the same period a year ago.
CBS Corporation (NYSE: CBS) said Tuesday it continues to negotiate "resolutely and in good faith" but warned that so far it has been unable to reach an agreement to keep its programming on various cable and satellite services owned by AT&T Inc. (NYSE: T), which could result in a blackout. The two companies are trying to work out an extension of a carriage agreement for CBS programming ahead of its expiration at midnight Pacific Time on Friday. "CBS has reached timely, fair agreements with hundreds of other cable, satellite, telco and internet providers to carry our industry-leading, fan-favorite programming," the company said in a statement released Tuesday.
"America doesn't want to witness a food fight, they want to know how we're going to put food on their tables."
Kayla Ramos says she was holding her phone in her hand when sparks started flying from the device.
Jul.16 -- Almost overnight, a $693 million loan Clover Technologies took to the market five years ago lost about a third of its value. The startling nosedive stung even sophisticated investors, people who deal in the arcane business of trading corporate loans. Bloomberg's Lisa Lee has more on "Bloomberg Markets."
Veteran reporter Norah O'Donnell debuted as host of the CBS Evening News on Monday night, and wasted no time differentiating her show from other mainstream media when she, clearly and directly, called President Donald Trump's recent attacks on four freshman congresswomen "racist."Taking
Burberry Group (OTCMKTS:BURBY) is having an impressive day thanks to Riccardo Tisci, propelling shares forward more than 10%. The luxury fashion house - based out of the United Kingdom - garnered serious traction Tuesday as comparable store sales gained 4% during its latest three-month quarter that lasted through June. This figure is double the amount analysts projected, a successful surge that can be partially attributed to Tisci's new collections.
The Dow Jones Industrial Average may be a fundamentally flawed index in terms of how it's weighted - choosing to use price rather than the market cap - but in terms of what companies are in the index, the Dow Jones can't be beat. Dow Jones stocks represent the "Bedrock of America" and some of the most important companies on the planet. There's a reason why financial media still quotes the close and movements of the Dow Jones Industrial Average.
(Bloomberg) -- Internet searches for "Canceling Amazon Prime" were 18 times higher on Monday -- the beginning of Amazon.com Inc.'s two-day sale -- than the previous day, according to search intelligence firm Captify. The data suggest shoppers want to snatch up discounted gadgets and appliances without
Gov. Phil Murphy on Tuesday signed into law a measure to make so-called smart guns available in the state, reversing his predecessor's vetoes of similar legislation. Murphy, a Democrat, signed the bill at Governor Livingston High School alongside Attorney General Gurbir Grewal, lawmakers, local
With the Federal Reserve expected to cut interest rates later this month, likely fueling another surge in buying interest, I've noticed a number of transportation stocks perking up. Shares of Union Pacific (NYSE:UNP) are breaking up and out of a multi-month consolidation range to push back towards the highs seen in May. Shares were recently initiated with a buy rating at Goldman Sachs, with a $198 price target translating into a gain of roughly 13% from here. Analysts are looking for earnings of $2.14 per share on revenues of $5.6 billion.
Canadian Pacific Railway (NYSE: CP) on Tuesday reported second-quarter earnings of $4.30 per share, which beat the analyst consensus estimate of $3.20. This is a 74.8% increase over earnings of $2.46 per share from the same period last year. The company reported quarterly sales of $1.98 billion, which beat the analyst consensus estimate of $1.5 billion.
The UAW and General Motors Co on Tuesday formally kicked off contract talks, with the union's president calling on the automaker to keep open plants it has slated for closure and to invest in its workforce after the union helped it through a government-led bankruptcy a decade ago. "We invested in you, now it's your turn to invest in us," United Auto Workers' President Gary Jones said at a joint event with GM executives in downtown Detroit. This year's talks on a new four-year contract between the union and the Detroit automakers are expected to be contentious, as U.S. auto sales are slowing after a long boom.
Thermo Fisher stock's multiple has now expanded to the high end of the research firm's trading range multiple of 17.5 times to 22.5 times. Despite a downgrade, the bullish stance on Thermo Fisher's stock remains unchanged and based on expectations for above average revenue growth over the coming decade, the analyst wrote. The company's acquisition of Patheon expanded Thermo Fisher's total addressable market opportunity to $160 billion of which it holds just a 15% market share.
An enormous shift is coming in the stock market …Source: Shutterstock I am not talking about a crisis or a bear market -- though the market's December drop does play a role in it.The shift I'm talking about will bankrupt many investors who've made gobs of money during this historic bull market
The United States did not fully comply with a World Trade Organization ruling and could face Chinese sanctions if it does not remove certain tariffs that break WTO rules, the WTO's appeals judges said in a ruling on Tuesday. China went to the WTO in 2012 to challenge U.S. anti-subsidy tariffs on
Executives from tech giants Apple Inc, Amazon.com Inc, Facebook Inc and Alphabet's Google go before the House Judiciary Committee's antitrust panel Tuesday to discuss competition in online markets. The committee is likely to discuss antitrust probes of the four companies under way at the Justice
Johnson & Johnson executives responded to Oklahoma's opioid lawsuit against the company and the lawsuits it faces over baby powder in a conference call Tuesday. The company is under criminal investigation for allegedly lying to the public about the cancer risks found in its ever-popular baby powder, Bloomberg reported. Johnson & Johnson Chief Financial Official Joseph Wolk said in the conference call that the company vowed to defend itself against the lawsuits.