Business News
Icahn opposes new directors chosen by Occidental CEO
Activist investor Carl Icahn on Wednesday opposed the appointment of two new directors picked by Chief Executive Officer Vicki Hollub for Occidental Petroleum Corp’s board.
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Business News
U.S. does not intend to intervene in currency markets for now, Mnuchin tells Bloomberg
U.S. Treasury Secretary Steven Mnuchin said on Wednesday the United States does not intend to intervene in currency markets for now, Bloomberg News reported.
Business News
Explainer: U.S. dollar intervention: What would it take?
The strength of the U.S. dollar has long been a thorn in President Donald Trump’s side. That has put the almost unthinkable scenario of currency intervention up for debate in global foreign exchange circles.
Business News
PVH cuts profit and revenue forecast as tariffs, Hong Kong protests bite
PVH Corp cut its full-year profit forecast for the second time this year on Wednesday, as the Calvin Klein owner sees pressure from the protracted U.S-China trade tensions and the ongoing protests in Hong Kong.
Business News
Trump to announce plan to boost biofuel demand soon: U.S. agriculture secretary
U.S. President Donald Trump will announce a plan to boost demand for biofuels within weeks, his secretary of agriculture said on Wednesday, as the administration seeks to assuage farmers angered by its expanded use of oil refinery waivers.
Business News
Tiffany profit tops estimates, Hong Kong and tourism hit sales
Luxury jeweler Tiffany & Co on Wednesday reported quarterly earnings that beat estimates on a drop in marketing costs even as sales were hurt by lower spending by Chinese tourists in the United States and political unrest in Hong Kong.
Business News
Retailers howl as U.S. trade agency locks in 15% tariffs on Sept. 1
The Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports and set collection dates of Sept. 1 and Dec. 15, prompting hundreds of U.S. retail, footwear, toy and technology companies to warn of price hikes.
Business News
Forever 21 prepares for potential bankruptcy filing: Bloomberg
Fashion retailer Forever 21 Inc is preparing for a potential bankruptcy filing, Bloomberg reported on Wednesday, citing people with knowledge of the plans.
Business News
Fed’s Daly says her ‘bias’ is to run hot U.S. economy
San Francisco Federal Reserve President Mary Daly on Thursday signaled support for continued U.S. monetary policy accommodation, saying she believes the benefits of running a “hot” economy currently outweigh the potential costs.
Business News
Boeing wins $500 million U.S. defense contract: Pentagon
Boeing Co has been awarded a $500 million contract for providing F-15QA aircrew and maintenance training to Qatar’s air force, the Pentagon said on Wednesday.
Business News
Calvin Klein owner PVH cuts full-year profit, revenue forecast
PVH Corp cut its full-year profit and revenue forecast on Wednesday, as the Calvin Klein owner sees pressure from the escalating trade tensions between the U.S. and China and the ongoing protests in Hong Kong.
Business News
U.S. judge rules for Regeneron, Sanofi in Amgen cholesterol drug patent fight
A U.S. judge on Wednesday set aside a jury verdict that found Amgen Inc patents on its cholesterol drug Repatha were valid, handing a victory to Regeneron Pharmaceuticals Inc and Sanofi SA , which sells a rival drug.
Business News
Former CEO of shut Philadelphia refinery seeks to buy the plant
The former chief executive officer of Philadelphia Energy Solutions is seeking to buy and restart the 335,000 barrel-per-day PES refinery, which closed after a June fire, the former CEO and backers of the plan said in a statement on Wednesday.
Business News
Stocks rise as recession, trade worries ebb; sterling tumbles
A gauge of equities worldwide rose on Wednesday as data showing strong demand for oil helped subdue recession jitters, while sterling tumbled as Britain’s prime minister moved to suspend parliament before the country’s planned departure from the European Union.
Trading Ideas
This 7% Yield Is About to Get Safer
Brookfield Property Partners (Nasdaq: BPY) is a partnership under the giant Brookfield umbrella. Brookfield has several publicly traded subsidiaries. The parent company is involved with private equity, infrastructure, real estate and power.
Brookfield Property Partners owns 96 million square feet of office space and 120 million square feet of retail space, and it has 11 million square feet of office and multifamily projects in development.
Last year, the company reported funds from operations (FFO) per share of $1.48. FFO is similar to cash flow, and it is the metric used by real estate companies.
Brookfield Property Partners paid out $1.26 per share in …read more […]