Sep.28 — Siemens AG is unleashing a true behemoth that will be behind much of the world’s electricity. Siemens Energy’s listing marks the next step in the unwinding of the giant German conglomerate. Bloomberg’s Oliver Sachgau reports on “Bloomberg Markets: European Open.” (Corrects company name in description.) …read more […]
Owner of the famed Las Vegas casino reveals its hand as one of two possible bidders for the UK firm. …read more […]
Sep.28 — Democratic Presidential nominee Joe Biden zeroed in on the risk to Americans’ health-care coverage if conservative favorite Amy Coney Barrett is confirmed as President Donald Trump’s new Supreme Court pick. She would replace the most progressive member of the Supreme Court, Justice Ruth Bader Ginsburg, who died on Sept. 18. Biden spoke Sept. 27 in Wilmington, Delaware. …read more […]
(Bloomberg) — Caesars Entertainment Inc. said William Hill Plc’s board would likely recommend its 2.9 billion-pound ($3.7 billion) takeover offer price, putting it on the front foot in a potential bidding war with Apollo Global Management Inc.The British gambling company confirmed it received approaches from both U.S. companies after Bloomberg reported Apollo’s interest on Friday. Caesars’ bid is 57.6% above William Hill’s closing price on Sept. 1, the day before its first approach.Caesars’ power over an existing joint venture with William Hill “makes rival offers unlikely,” said Goodbody analyst Gavin Kelleher. Some people may see Caesars’ offer price of 272 …read more […]
(Bloomberg) — Cleveland-Cliffs Inc. will buy the U.S. operations of ArcelorMittal SA for $1.4 billion in cash and shares to become the biggest flat-rolled steel producer in North America.Cleveland-Cliffs will pay about $873 million of common and non-voting preferred stock, and $505 million in cash, according to a statement.The transaction will save about $150 million in annual costs for the combined operations, improve Cleveland-Cliffs’ liquidity and is expected to boost its sales to the key automotive market. U.S. steel prices have risen in recent months, driven by tight supply after plant usage dropped in response to weaker demand due to …read more […]
Sep.28 — Ram Parameswaran, founder and portfolio manager at Octahedron Capital Management, discusses the sale of ByteDance Ltd.’s U.S. operation to Oracle Corp. and Walmart Inc. and a federal judge blocking President Donald Trump’s ban on TikTok. He speaks on “Bloomberg Markets: Asia.” …read more […]
Sep.28 — Manny Maceda, worldwide managing partner at Bain & Co., discusses the company’s report on the lessons learned from the pandemic and the future of work post-coronavirus. He speaks on “Bloomberg Markets: Asia.” …read more […]
Mornings have been lacking in joy this month for investors seeking returns in U.S. stocks. On average, losses on the benchmark S&P 500 index have been steepest between 10 a.m. and 11 a.m. Eastern (1400-1500 GMT), and every hour thereafter during the session has registered declines. Overall, the S&P 500 has registered losses for four straight weeks, its longest such streak in a year. …read more […]
U.S. gold futures were down 0.1% at $1,863.70. “Gold is going to be driven by the tenor of the U.S. dollar,” said Stephen Innes, chief market strategist at AxiCorp. “The big move is going to probably occur after the presidential debate when we have a better read on where the polls are going to be sitting.” …read more […]
Mornings have been lacking in joy this month for investors seeking returns in U.S. stocks. On average, losses on the benchmark S&P 500 index have been steepest between 10 a.m. and 11 a.m. Eastern (1400-1500 GMT), and every hour thereafter during the session has registered declines. Overall, the S&P 500 has registered losses for four straight weeks, its longest such streak in a year. …read more […]
(Bloomberg) — Siemens AG is about to let investors make pure-play bets on a company whose technology is behind roughly one-sixth of the world’s electricity.Monday’s listing of Siemens Energy AG marks the next step in the unwinding of a German conglomerate making a vast array of goods that spans medical scanners, locomotives and gas turbines into separate companies better suited to confront their own unique challenges.There will be no shortage of hindrances ahead for the extraction, processing, and transportation of oil and gas, as well as the generation, transmission and distribution of power and heat that Siemens Energy handles. Efforts …read more […]
Sep.27 — President Donald Trump called for Democratic presidential nominee Joe Biden to take a drug test before Tuesday’s presidential debate. He speaks at a news briefing at the White House. …read more […]
(Bloomberg) — HSBC Holdings Plc rose the most intraday in more than three years after last week hitting the lowest in quarter of a century and its biggest shareholder raised its stake in the embattled lender.A unit of Ping An Insurance Group Co. revealed in an exchange filing that it last week bought 10.8 million shares of HSBC, bringing its stake to 8% and cementing its place as the largest shareholder. Ping An purchased the shares at an average HK$28.2859 apiece.HSBC shares on Monday rose as much as 6.4%, the biggest intraday gain since June 2017, clawing back some of …read more […]
Sep.27 — Alexious Lee, head of China strategy research at Jefferies, discusses Chinese markets and his investment strategy. He speaks on “Bloomberg Markets: China Open.” …read more […]
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