Month: January 2020

(Bloomberg) — China’s Oceanwide Holdings Co. has sold its San Francisco property project for about $1 billion, taking a loss on an ambitious development that was expected to include the city’s second-tallest office tower but has lain idle for months.The Oceanwide Center site, which includes offices, upscale condos and a Waldorf Astoria hotel, faced “huge challenges” on construction and cost controls, the company said in a filing to the Shenzhen stock exchange late Wednesday.It expects to take a loss of about $276 million on the project, it said. The buyer was named as a unit of SPF Capital International Ltd., …read more […]

(Bloomberg) — After spending almost a year at war with some of the biggest names in the financial world, bankrupt utility giant PG&E Corp. has finally got them on its side. Now it just needs to win over California‘s governor.On late Wednesday, California power giant PG&E reached a settlement with a group of noteholders led by bond giant Pacific Investment Management Co. and activist investor Elliott Management Corp., who had repeatedly sought to derail the company’s $46 billion restructuring plan. The deal turns some of PG&E’s most formidable adversaries into backers of its turnaround proposal, bringing the company closer to …read more […]

It’s no secret that energy stocks have struggled this year, but there are some companies that could still have great success …read more […]

(Bloomberg) — Texas Instruments Inc. gave a quarterly sales and profit forecast that was in line with estimates, indicating that demand from electronics makers is poised to improve amid progress resolving the China-U.S. trade dispute.First-quarter earnings will be 96 cents a share to $1.14 a share, on revenue of $3.12 billion to $3.38 billion, the Dallas-based company said Wednesday in a statement. On average, analysts predicted profit of $1.04 a share and sales of $3.2 billion, according to data compiled by Bloomberg.Texas Instruments has the biggest customer list and widest product range in the semiconductor industry, making its earnings an …read more […]