Month: November 2019

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Billionaire John Fredriksen stepped down as chairman of Seadrill Ltd., the offshore-rig company he founded more than a decade ago and which is struggling with high debt amid a slow market recovery.The Norwegian-born shipping tycoon, who owns 30% of the company and was instrumental in its financial restructuring last year, said his “strong support” would continue. He will be succeeded by Glen Ole Rodland, who has 25 years in the shipping and oil industries and currently heads the board at Prosafe SE.“While …read more […]

Q3 2019 Qudian Inc Earnings Call …read more […]

(Bloomberg) — An epic stock rally for China’s e-commerce upstart just faltered, clipping the fortune of its founder.Pinduoduo Inc. Chairman and Chief Executive Officer Colin Huang lost almost a quarter of his fortune as the company’s stock plummeted 23% on Wednesday, according to the Bloomberg Billionaires Index. His net worth tumbled to $16.3 billion, down $4.8 billion from a day earlier.PDD’s stock drop was the biggest since it held an initial public offering in July last year, reducing this year’s gain through Wednesday to a still-respectable 40%. The sell-off was triggered by the company’s worse-than-expected quarterly results. Sales more than …read more […]

(Bloomberg) — Sony Corp. is in talks to acquire a stake in the Indian television network controlled by billionaire Mukesh Ambani, as the Japanese giant seeks to tap booming demand for content in the South Asian nation, according to people familiar with the matter.The Tokyo-based company is currently conducting due diligence on Ambani’s Network18 Media & Investments Ltd. before any possible offer, the people said, asking not to be named as the information is not public. Sony is considering several potential deal structures, including a bid for the company or a merger of its own Indian business with Network18’s entertainment …read more […]

More than 1,350 Australian women won a seven-year-old class action lawsuit on Thursday against Johnson & Johnson (J&J) for misleading patients and surgeons about the risks of the pharmaceutical giant’s pelvic mesh implants. The suit is one of many J&J has faced in the United States, Canada and Europe over the implants, used to treat urinary incontinence and pelvic organ prolapse, in which organs shift from normal positions. J&J in October agreed to pay nearly $117 million to resolve claims in 41 U.S. states and the District of Columbia. …read more […]

Sen. Elizabeth Warren defended her proposed wealth tax during the Democratic presidential debate. …read more […]

Q3 2019 Chesapeake Energy Corp Earnings Call …read more […]