Economy

Los Angeles Times fires top editor and management team

Los Angeles Times fires top editor and management team Former editor-in-chief of the Chicago Sun-Times, Jim Kirk , was named interim executive editor. "Maharaj was terminated along with a handful of other senior editors, including Managing Editor Marc Duvoisin, Deputy Managing Editor for Digital Megan Garvey and Assistant Managing Editor of Investigations Matt Doig", a report said . [Full Article...]

Oil prices fall on profit taking

Oil prices fall on profit taking USA output may soon slow, as energy companies cut rigs drilling for oil for a second week in three, energy services firm Baker Hughes said on Friday. Traders said the market was dampened by rising US production, which has broken through 9.5 million barrels per day (bpd), its highest since July 2015. [Full Article...]

Sensex, Nifty open higher before shedding gains, Infosys stocks down by 2.7%

Sensex, Nifty open higher before shedding gains, Infosys stocks down by 2.7% The Infosys board has denied the allegations repeatedly and over the weekend blamed Sikka's resignation on Murthy's " continuous assault ", describing the billionaire's latest salvo questioning the integrity of the directors and management as the final nail in the coffin. [Full Article...]

South Korea's Moon says North Korean nuclear-tipped ICBM is a 'red line'

The new U.S. Ambassador to Japan , William Hagerty, said he had arrived at a hard time and the United States wanted to work with Japan to "calm the rhetoric" over North Korea . "This right now is an exercise to make certain that we're ready to defend South Korea and our allies over there", Mattis told reporters aboard an aircraft flying to Amman, Jordan. [Full Article...]

Police called over Prince Frederik incident in Brisbane

Police called over Prince Frederik incident in Brisbane The prince, an avid sailor who is in Australia for the Hamilton Island Race Week , fell foul of Queensland's tough liquor laws at the Jade Buddha in the CBD just before midnight on Friday. However, because they did not have proper ID, they were not allowed to come inside. Health Minister Cameron Dick stood by the ID scanning laws, saying there were "doing what we want them to do" and preventi... [Full Article...]

Ford Launches Scrappage Scheme For Pre-2010 Cars

Ford Launches Scrappage Scheme For Pre-2010 Cars The firm's United Kingdom boss said hundreds of thousands of the dirtiest cars could be taken off the road under the deal, adding that the company "shares society's concerns over air quality". It would be focused on drivers who need most support, such as those on lower incomes or living next to a clean air zone. "Ford shares society's concerns over air quality", said the firm's chairman and MD... [Full Article...]

Hyundai will release a vehicle with low or zero emissions

Hyundai will release a vehicle with low or zero emissions The South Korean firm said the new vehicle's efficiency is "greatly improved" compared with the ix35 fuel-cell model, while the maximum power output has been raised by 20% to 163hp. The mid-sized SUV will be launched in Korea early next year, followed by USA and European markets. Hyundai launched the world's first mass-produced fuel cell vehicle in 2013, dubbed the Tucson Fuel Cell, but sales tr... [Full Article...]

BHP set for return to full-year profit

BHP set for return to full-year profit The company also declared its USA onshore shale assets as "non-core" and said it is actively pursuing options to exit these, agreeing to address a key concern raised by activist fund managers. In the medium term, this translates to a net debt range of US$10 to US$15 billion. BHP Billiton Limited has a consensus rating of "Hold" and a consensus price target of $34.24. [Full Article...]

Regulator OKs China Unicom's non-public offering of shares

Regulator OKs China Unicom's non-public offering of shares The bank's shares rose 1.44 percent in Shanghai on Friday but dropped 0.19 percent in Hong Kong. Merrimack Pharmaceuticals, Inc. has a consensus hold rating from 3 Wall Street analysts, and the number of shares now sold short amount to at least 20.05% of shares outstanding. [Full Article...]

Revenue Estimates Analysis Wal-Mart Stores Inc. (WMT)

Revenue Estimates Analysis Wal-Mart Stores Inc. (WMT) Ltd. (ADR) (NYSE:TSM) has risen 51.40% since August 21, 2016 and is uptrending. It has outperformed by 7.63% the S&P500. Landscape Capital Management Llc decreased Wal (WMT) stake by 22.05% reported in 2016Q4 SEC filing. Cullen Capital Management Llc increased Vermilion Energy Inc. In the past 3-month period alone, shares of WMT have appreciated +1.77 - or +2.28%. After this sale, 1,536,679,855 ... [Full Article...]

Two thirds of top firms 'unprepared for cyber-attacks'

Two thirds of top firms 'unprepared for cyber-attacks' This was despite more than half of executives recognising that such assaults represent a significant risk to their business . One in ten FTSE 350 firms now operate without a response plan for a cyber incident, the report claimed, adding that just six per cent of businesses were "completely prepared" for upcoming data protection rules, according to the FTSE 350 Cyber Governance Health Check ... [Full Article...]

Total Eclipse to Cost US Employers $694 Million

Total Eclipse to Cost US Employers $694 Million Monday's solar eclipse may have only lasted for about 2 1/2 minutes, but according to Outplacement Firm Challenger, Gray & Christmas, it cost employers an estimated $700-million in lost productivity. The cost to states and metro areas directly in the path of the eclipse, where traffic is expected to increase substantially, could see nearly $200 million in lost productivity combined. [Full Article...]

Dutch Bros Coffee recalls eclipse glasses

Dutch Bros Coffee recalls eclipse glasses With the solar eclipse just hours away, yet another company is warning customers against using the glasses handed out at its stores. Looking at the eclipse with glasses that aren't properly tinted (they reportedly need to be 100,000 times darker than normal sunglasses) can damage the retina, and even blind you. [Full Article...]

Indian shares slip; Infosys extends fall

Indian shares slip; Infosys extends fall On Friday, following Sikka's shock announcement, the board of the over company launched an unprecedented attack on founder Murthy for causing his departure. Infosys, which counts Apple, Volkswagen and Wal-Mart Stores among its customers, has underperformed the Nifty IT index this year amid the attacks from its founders and its U.S. [Full Article...]

Sempra seals deal to buy Oncor

Sempra seals deal to buy Oncor Sempra Energy said it would also commit $7.5 billion over five years to expand and reinforce Oncor's transmission and distribution network. Under the terms of the agreement, Sempra will pay around $9.45bn in cash to buy Energy and its ownership in Oncor, "taking a major step forward" in resolving the company's long-running bankruptcy case. [Full Article...]

Rosneft confirms acquisition of Indian refinery stake

Rosneft confirms acquisition of Indian refinery stake Essar subsequently gave an unconditional undertaking to LIC and other lenders, including State Bank of India ( SBI ), ICICI Bank , IDBI Bank , Axis Bank , Yes Bank , that their dues would be cleared within three days after the deal for Essar Oil closes. [Full Article...]

Chinese carmaker Great Wall looks at bidding for Fiat Chrysler

Chinese carmaker Great Wall looks at bidding for Fiat Chrysler Great Wall Motor ranks only as the seventh biggest Chinese auto company in terms of sales - 1.07 million in China previous year - but any purchase of FCA would take the firm to another level. Great Wall Motor would not be the first Chinese auto company to make a major acquisition overseas. Fiat Chrysler also owns Alfa Romeo, Maserati and RAM trucks as well as the Fiat and Chrysler brands. [Full Article...]

Stenson leads Wyndham by one stroke

Stenson leads Wyndham by one stroke The Swede took the lead by reeling off three consecutive birdies from the 15th hole, the last courtesy of a 25-foot putt, before parring the demanding 18th to edge young American Ollie Schniederjans. Notes: Johnson Wagner eagled the par-4 first hole with a shot from the fairway. Davis Love III, at 53 seeking to become the oldest victor in PGA Tour history, shot 67 to trail by three shots. [Full Article...]

Rathbones eyes £2bn tie-up with wealth rival

Rathbones eyes £2bn tie-up with wealth rival While it is the policy of AGF Management Limited (TSX:AGF.B) not to confirm or deny market rumours, in response to media reports in the U.K. regarding a potential change to its investment in Smith & Williamson, a private client business based in the U.K., AGF confirms that Smith & Williamson, a company which AGF now owns 32.3% of, is in exclusive discussions with Rathbone Brothers regarding a po... [Full Article...]

Total to buy Maersk oil and gas division for $7.45bn

Total to buy Maersk oil and gas division for $7.45bn Not a bad deal for both sides, taking into account the prolonged downturn in the gas and oil industry. Total chief executive Patrick Pouyanné said "I welcome Maersk Oil to the Total family". Analysts at Jefferies said the price was 5 percent ahead of its estimates and 18 percent more than consensus of $6.3 billion. "Maersk Oil has for nearly half a century been at the forefront of the Da... [Full Article...]


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