Year: 2019

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Saudis, Kuwait Agree to Resume Oil Output at Shared Fields

December 24, 2019 admin Comments Off on Saudis, Kuwait Agree to Resume Oil Output at Shared Fields

(Bloomberg) — Saudi Arabia and Kuwait agreed to resume oil production in a shared border region more than four years after halting output.Their agreement allows for “the resumption of oil production from the joint fields,” the Saudi energy ministry said on Twitter. The oil fields in the so-called neutral zone can produce as much as 500,000 barrels a day — more than each of OPEC’s three smallest members pumped last month.Chevron Corp., which operates the area’s Wafra field together with Kuwait Gulf Oil Co., expects full production there to be restored within 12 months, it said Tuesday in a statement. …read more […]

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Wesco offers to buy Anixter for $3 billion

December 24, 2019 admin Comments Off on Wesco offers to buy Anixter for $3 billion

This comes a day after Anixter, which supplies communications and security products, said it had agreed to a bid worth $86 per share and $2.50 per share contingent value rights from private equity firm Clayton, Dubilier & Rice. The equity value of Wesco’s bid for Anixter would be about $3 billion, according to Reuters calculations. Wesco’s per share offer is at a premium of 2.8% to the Anixter stock’s Monday close. …read more […]

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Here’s to Your Health: A Decade of Drug Breakthroughs

December 24, 2019 admin Comments Off on Here’s to Your Health: A Decade of Drug Breakthroughs

(Bloomberg Opinion) — For all the flak the pharmaceutical industry has taken for its exorbitant pricing practices, there’s no getting around the fact that it’s been a pretty stunning decade for medical progress.Multiple new categories of medicines have moved from dreams and lab benches into the market and people’s lives, and investors who came along for the ride often reaped extraordinary profits. The Nasdaq Biotech Index is up 360% over the last 10 years to the S&P 500’s 190%. And that’s without mentioning the hundreds of billions of dollars in takeovers that rewarded shareholders with windfalls. As 2020 …read more […]