Trading Ideas
Month: May 2020
Business News
Telefonica shares rise on O2-Virgin Media merger talks
Shares in Spain’s Telefonica SA rose on Monday to post the only strong gains on an otherwise almost entirely red Madrid index, after the company confirmed it was in talks with billionaire John Malone’s Liberty Global Plc over a possible merger of their respective businesses in Britain.
Business News
Stocks fall as U.S./China tensions threaten rebound
European stock markets and oil prices fell on Monday as a spat between top U.S. officials and China over the origin of the coronavirus fuelled fears of a new trade war, derailing a rebound in global markets.
Business News
Norwegian Air’s shareholders vote in favour of rescue plan: DN
Norwegian Air’s shareholders gave their backing on Monday to the company’s financial survival plan, with about 95% of votes cast supporting the conversion of debt into equity, financial daily Dagens Naeringsliv reported on Monday.
Business News
HSBC to buy out life insurance joint venture partner in China
HSBC Holdings PLC said on Monday its insurance unit had agreed to acquire its China life insurance venture partner’s 50% stake to own fully the company under the new rules on foreign ownership that came into effect in January.
Business News
J. Crew files for bankruptcy protection
J. Crew Group Inc filed for bankruptcy protection on Monday, adding to an array of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the coronavirus pandemic.
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Liberty, Telefonica in Talks to Build $30 Billion U.K. Arm
(Bloomberg) — Telefonica SA and John Malone’s Liberty Global Plc have never been closer to finally creating the U.K.’s biggest telecom operator after flirting with various combinations over the years.Racing for a potential announcement as early as this week, talks hinge in part on striking equal control for the merger of O2 and Virgin Media, while structuring a deal that’ll help the Spanish giant pay down its huge debt pile, according to people familiar with the matter, asking not to be identified because the talks are private.In a statement Monday, Telefonica confirmed that talks are ongoing “on a potential integration …read more […]
Business News
Mastercard promotes Mark Barnett to European president role
Mastercard has promoted Mark Barnett to the role of president of its European business, responsible for the payment giant’s strategy and operations across 53 countries.
Business News
Oil prices fall on demand concerns, U.S.-China trade tension
Oil prices fell on Monday, paring last week’s gains, on worries a global oil glut may persist amid slumping demand and U.S.-China trade tensions that could restrict an economic recovery even as coronavirus pandemic lockdowns start to ease.
Business News
UK watchdog investigates EY audit of NMC Health
Britain’s accounting regulator said it has opened an investigation into EY’s audit of NMC Health, the troubled hospital operator that was placed into administration in April.
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Goldman Sachs says it remains bullish on oil prices in 2021
The Wall Street bank raised its 2021 forecast for global benchmark Brent crude prices to $55.63 per barrel from $52.50 earlier. The bank hiked its estimate for U.S. West Texas Intermediate (WTI) crude to $51.38 a barrel from $48.50 previously. …read more […]
Business News
EU clears 7 billion euros in state aid for Air France
The European Union’s competition watchdog on Monday approved 7 billion euros worth of French state aid for Air France AIRF.PA.
Business News
Britain’s Hotel Chocolat bolsters finances to get through coronavirus crisis
British chocolatier Hotel Chocolat has increased its banking facilities to help get it through the coronavirus crisis, it said on Monday.
Business News
Norwegian Air says lessors support rescue ahead of shareholder vote
Norwegian Air has won “strong support” from lessors for its plan to convert debt to equity, the carrier said on Monday, as shareholders prepared to cast their vote on the scheme in a meeting set to begin at 0630 GMT.