Month: December 2019

(Bloomberg) — Oil rebounded from the biggest weekly loss since early October after Iraq signaled OPEC and its allies will consider deeper production cuts at its meeting later this week, contrary to indications from the group.Futures surged as much as 1.9% in New York after plunging 5.1% on Friday, the largest loss in more than two months. The reduction could be about 400,000 barrels a day, Iraq’s oil minister Thamir Ghadhban told reporters in Baghdad on Sunday, adding that the nation complied with its commitments to lowering output last month. A gauge of China’s manufacturing sector jumped unexpectedly in November, …read more […]

The United States has formally requested the extradition of Michael Lynch, the British tech billionaire who sold his data company Autonomy to Hewlett Packard (HP) in an ill-fated $11.1 billion deal, to face charges including securities fraud, wire fraud and conspiracy. The U.S. embassy in London submitted the extradition request on Nov. 21 for Lynch to stand trial in the United States, according to a court filing dated Dec. 1. Lynch, once hailed as Britain’s answer to Bill Gates, is currently battling the American IT giant in London’s High Court. …read more […]

Food delivery platforms are helping independent and chain restaurants in London, Paris, Madrid and Warsaw serve more meals every week, boosting the sector’s revenue and profit, according to a Deloitte report commissioned by Uber Eats. Food delivery has grown rapidly across Europe, initially driven by companies such as Just Eat and Takeaway.com that offered marketplaces for restaurants that had their own delivery services. Uber Eats, a unit of the ride-hailing service, Britain’s Deliveroo and Spain’s Glovo expanded the market by supplying their own delivery to both independent and chain restaurants. …read more […]

(Bloomberg Opinion) — Hong Kong property companies, whose shares have been beaten down amid this year’s protests, are missing an opportunity to unlock value for shareholders. More should consider packaging their trophy assets into real estate investment trusts to release capital and improve the market’s view of their prospects.The Hang Seng Properties Index has slumped more than 17% from an April high as the unrest disrupted business, deterred home buyers and caused tourists and shoppers to stay away. The broader Hang Seng Index has lost 11%. Many real estate companies are trading at a steep discount to the value of …read more […]

(Bloomberg) — For years, OPEC ignored the rise of the U.S. shale industry and came to regret its mistake. Now, the group is making another bold gamble on America’s oil revolution: that’s its golden age is over.When the Organization of Petroleum Exporting Countries meets this week, ministers will discuss whether to extend their current output target, rather than reduce it, according to people familiar with the internal debate. The reason? They believe relentless U.S. oil production growth will slow rapidly next year.Iraq said on Sunday that OPEC and its allies will consider deeper production cuts, though the comments come after …read more […]

(Bloomberg) — Acosta Inc., the marketing firm owned by Carlyle Group LP, has gone bankrupt after big consumer-product firms decided to do more of the work themselves to keep up with changing consumer tastes.The Chapter 11 bankruptcy filing in Wilmington, Delaware, listed liabilities of $1 billion to $10 billion, and no more than $1 billion in assets. Recent records show the company had about $2.85 billion in bonds and loans outstanding, according to data compiled by Bloomberg.Acosta skipped its Oct. 1 bond interest payment and said it was working on a plan that would hand control over to its creditors. …read more […]

Conventional wisdom has it that energy stocks can’t rally without a significant rise in oil prices, but could it be that this logical assumption is wrong? …read more […]

(Bloomberg) — Stocks in Asia were set for a muted start to December as investors weighed data on China’s economy that showed a bright spot for manufacturing and the latest news on the trade front. The Australian dollar rose.Futures pointed marginally higher in Tokyo and Hong Kong. The S&P 500 Index dipped on Friday. On U.S.-China trade: the Global Times reported that China’s government wants tariffs to be rolled back as part of the phase one trade deal with the U.S. Oil was in focus after Iraq said OPEC and its allies will consider deeper production cuts.A gauge of China’s …read more […]

(Bloomberg) — In the heart of New Delhi’s largest wholesale bazaar, merchants who normally compete with each other have united against a common enemy.“Amazon, Flipkart!” one merchant after another shouts into a microphone from a small stage in Sadar Bazaar’s central traffic circle. Some 50 other shopkeepers gathered around shout back in unison: “Go back! Go back!”The sit-in, which created more chaos than usual among the rickshaws, motorbikes and ox-carts plying the market road, was one of as many as 700 protests against Amazon.com Inc. and Walmart Inc. — owner of local e-commerce leader Flipkart — that organizers say took …read more […]

Today, we’ll introduce the concept of the P/E ratio for those who are learning about investing. We’ll look at Genesis… …read more […]

DuPont de Nemours, Exelon, Occidental Petroleum, Ventas, Plains All American Pipeline and CenterPoint Energy present buying opportunities Continue reading… …read more […]

Insiders invest in Gannett, Aramark, ServiceNow, UroGen Pharma and Enphase Energy Continue reading… …read more […]

A look at the retailer’s third-quarter results Continue reading… …read more […]