No Picture
Trading Ideas

UPDATE 1-Murban crude listing will not impact OPEC cuts compliance -UAE energy min

United Arab Emirates’ Minister of Energy Suhail al-Mazrouei said on Tuesday that he sees no conflict between his country’s compliance with OPEC output cuts and plans to list Murban crude oil by the Abu Dhabi National Oil Co (ADNOC). Intercontinental Exchange Inc will next year launch a new exchange in the UAE to list ADNOC’s flagship Murban crude grade. Mazrouei said the UAE remains committed to cuts agreed by the Organization of the Petroleum Exporting Countries, plus allies led by Russia. …read more […]

No Picture
Trading Ideas

Osram Advises Shareholders to Accept $4.4 Billion Takeover

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Osram Licht AG is backing a $4.4 billion takeover offer from AMS AG after reaching an agreement with the Austrian sensor maker that will protect workers from merger-related layoffs until 2022.Osram recommended Tuesday investors accept the proposal of 41 euros a share in cash, saying it “represents an appropriate valuation of the company.” The German car-parts supplier also reported better-than-expected fourth-quarter earnings, while pushing back mid-term targets. The shares rose 0.2% to 40.22 euros in Frankfurt.Osram’s decision to back a deal with …read more […]