Month: October 2020

The all-stock deal comes as U.S. shale companies have posted big losses due to weak crude prices amid the COVID-19 pandemic and have struggled to raise new capital to restructure debt. Concho shareholders will receive 1.46 shares of ConocoPhillips for each share held. The deal for $49.30 per share, represents a 1.4% premium to Concho’s closing close on Friday, according to Reuters calculations. …read more […]

(Bloomberg) — Halliburton Co. expects the rout in North American shale to peter out after history’s worst crude crash decimated many of its customers earlier this year.The world’s biggest provider of fracking signaled that attrition among oilfield service companies is beginning to show results and, in North America at least, a bottom may have been reached, according to a statement on Monday. Overseas is another story, however, because orders there are still weak.““The pace of activity declines in the international markets is slowing, while the North America industry structure continues to improve, and activity is stabilizing,” Chief Executive Officer Jeff …read more […]

(Bloomberg) — Jack Ma’s Ant Group Co. won a key approval from the China Securities Regulatory Commission for its listing in Hong Kong, paving the way for what could be the world’s biggest initial public offering.The Chinese regulator has given Ant a green light to seek a listing hearing with Hong Kong Exchanges and Clearing Ltd., according to a notice on the commission’s website. A Hong Kong hearing could happen as soon as Monday, according to people familiar with the matter, requesting not to be named because the information is private.Ant still has to complete its registration for the Shanghai …read more […]

We went to Gettysburg the other day.
It’s a small town with a big history. It’s a history that’s on the minds of many today.
Freedom. Government. Equality. The air may be quiet, but the spirits of the old town and the hallowed fields that surround it scream those words. They beg us to ponder their merit and their worth.
The ties to today are clear.
If we believe the polls, nearly 2 in 3 Americans are worried about another Civil War.
If that’s you… there’s a tie to the past you should know about.
It’s as important today as it was when brother took aim …read more […]

A decade-long Republican campaign to weaken the consumer watchdog’s independence is set to backfire if Democrat Joe Biden wins the presidential election, by handing him the power to swiftly replace the agency’s director with a consumer champion, said nearly a dozen lawyers, lobbyists and policy experts. The Consumer Financial Protection Bureau (CFPB) has been a political lightning rod since it was created following the 2009 financial crisis, beloved by Democrats as a guardian of ordinary Americans but reviled by Republicans as too powerful and unaccountable. The Trump administration has clipped the agency’s wings, relaxing enforcement and some rules, …read more […]

A week before a referendum on whether to ditch Chile’s dictatorship-era constitution, protesters torched two churches, looted stores and clashed with police in Santiago. Thousands gathered on the anniversary of mass antigovernment demonstrations. Photo: Martin Bernetti/AFP/Getty Images …read more […]

Top news and what to watch in the markets on Monday, October 19, 2020. …read more […]

Boeing’s production cuts have sent shockwaves through the aviation industry, forcing suppliers to lay off thousands of employees. Tool Gauge reconfigured its operations just after opening a new facility in Tacoma, Wash., designed to manufacture Boeing parts. Photo: Joel Winter for The Wall Street Journal …read more […]

Oct.19 — Bruegel Director Guntram Wolff discusses Brexit negotiations and the potential for a “no deal” departure. He speaks on “Bloomberg Markets: European Open.” …read more […]

A Puerto Rico-based bank founded by long-time bitcoin skeptic Peter Schiff is under investigation over suspicions it facilitated tax evasion. …read more […]

Oct.19 — With the presidential election little more than two weeks away, Bloomberg’s Derek Wallbank considers the importance of early voting, the latest polls, and a subtle shift in the rhetoric of Republican senators which could indicate which whether Donald Trump or Democrat Joe Biden are heading for victory. Wallbank reports on “Bloomberg Markets: European Open.” …read more […]

US president Donald Trump announced on August 11, 2020, that the “Made in Hong Kong” label could no longer be used on US-bound exports from the city. The order, which requires Hong Kong exports to be labelled as “Made in China”, came as Washington imposed sanctions against Hong Kong over a national security law imposed on the city by China’s central government.

Two local businessmen spoke with the South China Morning Post about how policy has affected their operations. Both were concerned that… …read more […]

(Bloomberg) — ESG investing is the most significant development in money management since the creation of the exchange-traded fund two decades ago and it will reshape finance just as passive funds have.That’s the finding of a new report from PwC that forecasts as much as 57% of mutual fund assets in Europe will be held in funds that consider environmental, social and governance factors by 2025, or 7.6 trillion euros ($8.9 trillion), up from 15.1% at the end of last year. In addition, 77% of institutional investors surveyed by PwC said they plan to stop buying non-ESG products within the …read more […]

Oct.19 — Tech is “having the time of its life and is not going anywhere, vaccine or no vaccine,” says Baring Investment Services Chief European Strategist Agnes Belaisch. She speaks on “Bloomberg Markets: European Open.” …read more […]

(Bloomberg) — Danone is reviewing its entire portfolio for underperforming assets in Chief Executive Officer Emmanuel Faber’s biggest shakeup of the French yogurt maker, whose shares are languishing near a six-year low.The company is putting the Vega protein powder brand up for sale as well as a unit in Argentina, getting rid of businesses that contribute 500 million euros ($585 million) to revenue. The stock rose as much as 1.8% in Paris.Two weeks after raising 470 million euros by selling a stake in Japanese beverage maker Yakult Honsha Co. and ending a two-decade alliance, Faber is set to divest even …read more […]