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Spain's Telefonica eyes $2.2 billion sales boost from strategic overhaul

Spain’s Telefonica said it would separate parts of its Latin America business and regroup cybersecurity and cloud computing activities under a plan aimed at generating more than 2 billion euros ($2.20 billion) a year in extra revenues by 2022. Along with its peers, Europe’s fourth-largest telecoms company is struggling to achieve solid profit growth and has seen its share price touch its lowest level in more than two decades amid increasingly tough market conditions. “The model is tired out so we need to reinvent ourselves,” Alvarez-Pallete told a news conference on Wednesday called unexpectedly after a board meeting …read more […]

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Skrill Extends Footprint with New Crypto-to-Crypto Feature

Skrill has announced a new crypto-to-crypto buy and sell service for its users. After launching a fiat-to-crypto on-ramping feature for users of its payment platform last year, this latest move represents a further reach into the cryptocurrency space for the London-based payments firm. With the introduction of crypto-to-crypto transfers, Skrill users will have access to […] …read more […]

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6 LNG Investments to Tap Into

The global liquefied natural gas (LNG) sector is poised for major growth over the next several decades.
The U.S. alone is expected to add almost 7.06 trillion cubic feet (Tcf) to global production by 2025.
Not surprisingly, the bulk of it will come from existing shale plays. U.S. producers will turn nearly half of U.S. domestic production (37.1 Tcf) into LNG for export.
Additionally, half of all new global gas growth will come from American shale wells.
Production growth from shale wells increases by nearly 4% annually. That’s four times faster than conventional gas wells.
Even with all this new shale gas production, U.S. producers …read more […]

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Barclays’s Jenkins Says Bank Didn’t Try to Hide Qatari Fees

(Bloomberg) — When Qatari officials demanded higher fees in exchange for saving Barclays Plc during the 2008 financial crisis, investment banking head Bob Diamond led the resistance, former bank executive Roger Jenkins said.Jenkins is in court with ex-colleagues Tom Kalaris and Richard Boath, charged with disguising payments made to Qatar for a 4 billion-pound ($5 billion) capital injection as advisory service agreements. The men deny the charges.The investment was crucial to allowing Barclays to avoid a U.K. government bailout amid the credit crisis. Hussain Al-Abdulla, an adviser to Qatar’s prime minister Sheikh Hamad bin Jassim Al Thani, demanded fees of …read more […]

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Here is What Hedge Funds Think About Constellation Brands, Inc. (STZ)

Does Constellation Brands, Inc. (NYSE:STZ) represent a good buying opportunity at the moment? Let’s quickly check the hedge fund interest towards the company. Hedge fund firms constantly search out bright intellectuals and highly-experienced employees and throw away millions of dollars on satellite photos and other research activities, so it is no wonder why they tend […] …read more […]

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Blackstone says Unizo has not agreed to its $1.6 billion takeover offer

Blackstone Group Inc said on Thursday it has been unable to obtain an agreement from Japanese hotel operator Unizo Holdings Co Ltd for its $1.6 billion takeover bid proposal. Blackstone last month offered to buy the company at 5,000 yen a share, which valued the hotel chain at 171 billion yen ($1.6 billion). It also warned the company that it would take any measures if Unizo fails to respond to Blackstone’s offer by a deadline that it keeps extending. …read more […]

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Billionaire Ken Griffin Bets Big on These 3 “Strong Buy” Stocks

Ken Griffin built his impressive reputation as an investor early in life, founding Citadel Advisors when he was just 22, with $4.6 million in seed money. By 2003, when became the youngest self-made millionaire on the Forbes 400 list, his hedge fund controlled well over $1 billion in investment capital. Today, Griffin’s Chicago-based fund holds $212 billion in equity assets under management.In the third-quarter, Citadel made 9-digit purchases in three particularly interesting stocks. All three are rated Strong Buys in the TipRanks database, and all three show unique combinations of strengths and weaknesses. We’ve pulled up the data on each, …read more […]

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Oil Edges Lower as U.S. Inventories Rise Amid Record Production

(Bloomberg) — Oil sank as production hit a record high and refinery demand slipped, pushing stockpiles higher across the nation.Futures fell as much as 0.8% in New York after Energy Information Administration reported that U.S. commercial crude inventories rose 1.57 million barrels last week and output hit 12.9 million barrels a day. That countered optimism that a U.S.-China trade deal was drawing closer, which may support stronger economic growth and fuel demand.U.S. President Donald Trump told reporters at the White House that the U.S. and China were “in the final throes of a very important deal,” though he told Fox …read more […]

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Massachusetts adopts tough ban on flavored vaping, tobacco products

Massachusetts on Wednesday adopted the country’s toughest ban on the sale of flavored tobacco and vaping products, including menthol cigarettes, in response to a rise in youth vaping and an outbreak of vaping-related serious lung injuries. Governor Charlie Baker, a Republican, signed into law legislation passed by the state’s Democrat-controlled legislature earlier this month that also places a 75% excise tax on e-cigarettes. Several other states have recently adopted emergency bans on the sale of flavored vaping products amid a nationwide outbreak of lung injuries among e-cigarette users and concerns about the growing popularity of the products among …read more […]

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RBC Sees Stock Turbulence Ahead as S&P 500 Pushes Toward 3,350

(Bloomberg) — The U.S. stock market’s record-setting rally will lose some steam in 2020, with the risk of a pullback increasing in the next few months, according to RBC Capital Markets.Lori Calvasina, the firm’s head of U.S. equity strategy, predicted that the S&P 500 will finish next year at 3,350, a gain of roughly 7% from Tuesday’s close, while profits will grow 6% to $174 a share. With valuations expanding and fund managers turning “euphoric,” investors should watch out for a market retreat that’s bound to occur by the end of March, she warned.“We expect 2020 to be a year …read more […]