Trading Ideas
Oilfield Services Face Crisis As Shale Slowdown Worsens
Two of the largest oilfield services companies in the world saw their earnings hit hard in the third quarter due to the U.S. shale slowdown …read more […]
Month: October 2019
Trading Ideas
Hundreds of Thousands in California Are Facing Another Blackout
(Bloomberg) — Hundreds of thousands of Californians are once again facing the prospect of a deliberate blackout as utility giant PG&E Corp. tries to keep its power lines from igniting catastrophic wildfires.Forecasts for strong and dry winds has the San Francisco-based power company considering a shutoff to about 209,000 homes and businesses this week. People in 15 Northern California counties may go dark on Wednesday and Thursday, the company said.The threat of widespread shutoffs is hitting just two weeks after PG&E and Edison International’s Los Angeles area utility carried out the biggest deliberate blackout in California history, plunging more than …read more […]
Business News
Drug firms avert landmark opioid trial as talks on $48-billion settlement set to resume
Four large drug companies could resume talks on Tuesday to try to reach a $48 billion settlement of all opioid litigation against them, after agreeing with two Ohio counties to a $260 million deal to avert the first federal trial over their role in the U.S. opioid epidemic.
Trading Ideas
Hedge Funds Have Never Been This Bullish On Medidata Solutions Inc (MDSO)
With the first-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the second quarter. One of these stocks was Medidata Solutions Inc (NASDAQ:MDSO). Medidata Solutions Inc (NASDAQ:MDSO) has seen […] …read more […]
Trading Ideas
Hedge Funds Have Never Been More Bullish On Assured Guaranty Ltd. (AGO)
World-class money managers like Ken Griffin and Barry Rosenstein only invest their wealthy clients’ money after undertaking a rigorous examination of any potential stock. They are particularly successful in this regard when it comes to small-cap stocks, which their peerless research gives them a big information advantage on when it comes to judging their worth. […] …read more […]
Business News
Howard Hughes announces management reshuffle, to sell assets worth $2 billion
Howard Hughes Corp , which counts activist investor William Ackman as chairman, said on Monday it would sell about $2 billion of non-core assets following a strategic review and announced a management reshuffle.
Business News
South Africa’s Eskom takes Deloitte to court alleging improper contracts
South Africa’s cash-strapped state power firm Eskom said on Monday it had filed court papers in a bid to recover 207 million rand ($14 million) in connection with contracts it alleged were improperly awarded to Deloitte Consulting in 2016.
Trading Ideas
U.K. Politicians Push for Divestment of BP and Shell Shares
(Bloomberg) — A group of 300 British politicians are pushing the trustees of the Parliamentary Pension Fund to sell shares of BP Plc and Royal Dutch Shell Plc to ward off the risks of climate change.The group, organized by environmental non-profit 350.org, adds to pressure on the fossil fuel industry. Over the last two weeks, climate change activists from the group Extinction Rebellion have disrupted London by blocking roads and climbing on commercial airplanes. Just weeks before that, an estimated 7.6 million people globally took to the streets to protest continually rising emissions.“Reducing our dependence on fossil fuels is probably …read more […]
Business News
China asks WTO for $2.4 billion sanctions against U.S. in latest clash
China is seeking $2.4 billion in retaliatory sanctions against the United States for failing to comply with a World Trade Organization ruling in a case that highlights White House complaints about the global trade body.
Trading Ideas
UPDATE 1-San Jose to propose turning PG&E into giant customer-owned utility – WSJ
San Jose, California’s third-biggest city, is proposing to convert PG&E Corp into the country’s largest customer-owned utility, the Wall Street Journal reported on Monday, citing the city’s mayor. Mayor Sam Liccardo said in an interview to the WSJ the city served by PG&E hopes to persuade other cities and counties in coming weeks to line up behind the plan. The plan is to strip PG&E of its status as an investor-owned company and turn it into a nonprofit, electric-and-gas cooperative, the Monday’s report https://on.wsj.com/2JaJWJg added. …read more […]
Business News
Santander to sell Puerto Rico unit to FirstBank in $1.1 billion deal
Banco Santander said on Monday it had agreed to sell Santander Bancorp, the Spanish lender’s retail and commercial banking franchise in Puerto Rico, to FirstBank Puerto Rico in a deal valued at $1.1 billion.
Trading Ideas
Santander to sell Puerto Rico unit to FirstBank in $1.1 billion deal
The deal includes Santander’s 27 bank branches on the island and total assets of $6.2 billion, the companies said. First BanCorp , the bank holding company of FirstBank Puerto Rico, said its 2020 consensus earnings of 81 cents per share are now expected to get a boost by 35%. …read more […]
Business News
U.S. allows Chevron to drill for oil in Venezuela for three more months
The U.S. Treasury Department on Monday renewed a license allowing Chevron, the last U.S. operating energy company in Venezuela, to continue drilling in the country for another three months through Jan. 22.
Business News
SoftBank’s WeWork financing would lead to Adam Neumann’s exit: sources
SoftBank Group Corp offered close to $10 billion to WeWork owner The We Company, its employees and its investors on Monday under a plan to keep the struggling U.S. office-space sharing start-up afloat that would lead to the exit of its co-founder and Chairman Adam Neumann, people familiar with the matter said on Monday.
Business News
Former Chevron exec seeks $500 million for post-sanctions Venezuela
The former chief of Chevron Corp’s Latin American operations is moving to raise $500 million from big financial firms to invest in Venezuela once U.S. sanctions are eventually lifted, confident that political change will come and that foreign investment will be needed to boost sagging oil output.