The British currency has surged the most since May 2008 after Theresa May pledged to give parliament a vote on any final ‘Brexit deal’. Sterling surged against its major counterparts on foreign exchange markets Tuesday afternoon as traders bet that lawmakers will eventually water down Theresa May’s push for a so called ‘Hard Brexit’.
Day: January 17, 2017
Jim Cramer — Noble’s $2.7 Billion Purchase Makes Perfect Sense
Noble purchasing Clayton Williams for $2.7 billion is an excellent, strategic move to gain more exposure to the Permian, Cramer said. Shares of Clayton Williams Energy are up 36% Tuesday after it was announced on Monday that Noble Energy would purchase the company for $2.7 billion in cash and stock.
United Airlines Has Tough Act to Follow After Delta’s Unit Revenue Guidance
Earnings from United Airlines, scheduled to be released after the market closes Tuesday, will have to match up with Delta’s results. United Airlines will report earnings Tuesday afternoon amid high expectations for the airline industry but not-quite-so-high expectations for itself.
Salesforce.com CEO Marc Benioff : ‘Expect Us to Look at Anything That’s Exciting’
Salesforce.com hopes to double its annual revenue, despite already being the fastest growing enterprise software company of all time. Cloud computing company Salesforce.com spent about $5 billion on acquisitions in the past year and it will continue to look at any “exciting” opportunities out there, CEO Marc Benioff said on CNBC’s “Squawk Box” on Tuesday morning.
Peugeot Citroen Wobbles on Report of Emission Test Failure
France’s No.2 carmaker joined larger French rival Renault under scrutiny but shares in both rose on the back of a bumper 2016 for European new car sales. PSA Peugeot became the latest European car manufacturer to tremble in the wake of Volkswagen ‘s record fine for cheating emission tests after it was reported that one of its models had failed to meet EU standards and showed anomalies in official testing.
Tractor Supply Looks Ready to Sprout
Shares of Tractor Supply bought the farm in September after the company reported disappointing results. The stock hit a 52-week low in late October and has been bouncing back ever since.
Yum! Brands May Benefit From Bringing Taco Bell Staples to China
The U.S. restaurant company’s Chinese spin-off is introducing the Mexican’s fast-food chain’s Doritos Locos Tacos and Fire Sauce, and the strategy could drive revenue. Yum China Holdings , which was spun off last year from Yum! Brands ‘ , has unveiled plans to bring Taco Bell’s Doritos Locos Tacos and the popular Fire Sauce to China.
Cramer: Rising Deal Tide in the Permian Lifts Oil Boats
Yes, the Permian buys continue to move the needle. It looked like Noble Energy would be hammered when it paid a gigantic premium for Clayton Williams over the weekend; the latter stock is up 37%, but more important, perhaps, is that the stock was at $7 a little less than a year ago and now it is at $143.
The Common Smartphone Could be a Massive New Risk to Investors
As any diligent investor knows, one of the most important considerations in making investment decisions is risk assessment. Understanding the potential risks and how those risks affect future cash flows is critical.
The Bulls Are Back on Randgold Resources
Recent strength in the price of gold, weakness in the U.S. dollar and improved technical signals on GOLD suggest that GOLD and other precious metal miners can rally further. You don’t have to be a confirmed gold bug to participate.
Bearish Arguments Make Early Headway
There are several explanations for the weak action this morning. Breadth isn’t terrible with about 2,300 gainers to decliners but it is slipping.
China’s Xi defends global trade at World Economic Forum in Davos
Chinese President Xi Jinping is the first Chinese leader to attend the World Economic Forum in Davos, Switzerland. Chinese President Xi Jinping on Tuesday trumpeted the need for free trade and urged the world to “say no to protectionism,” delivering a strong rebuke to isolationist tendencies that helped fuel Donald Trump’s presidential election victory.
Scaramucci Clarifies That His SkyBridge Is ?Almost? Sold
Anthony Scaramucci, named as an adviser to U.S. President-elect Donald Trump, said he has “almost” sold his SkyBridge Capital asset-management firm. Scaramucci, 53, clarified a comment he made earlier Tuesday during a presentation at the World Economic Forum in Davos, Switzerland that the firm had been sold today.
TRUMP: The strong dollar is ‘killing us’
The index’s drop follows two comments from President-elect Donald Trump in an interview with The Wall Street Journal . Trump said the border-adjustment plan, a proposal that would tax imports and exempt exports, was “too complicated.”
CMHC to hike mortgage insurance premiums by an average of $5 a month
CMHC is ratcheting up its mortgage insurance premiums starting in March for new applications. Existing policies will see no change.
Oil Prices Jump as Dollar Sags, Saudis Reiterate Commitment to Production Limits
Global oil prices resumed their upward march Tuesday, boosted by a weaker U.S. dollar and a further commitment to OPEC agreed production cuts from Saudi Arabia. Global oil prices resumed their upward march Tuesday, boosted by a weaker U.S. dollar and a further commitment to OPEC agreed production cuts from Saudi Arabia.
Standard Chartered Stock Surges On Big Shipping Industry Bet
Standard Chartered shares surged the most in nine months Tuesday after the emerging market bank announced a big bet on the beleaguered shipping industry. The London-based bank said it closed three trade finance deals totalling $1.6 billion in value during December, providing funding to merchants transporting liquefied natural gas and other types of energy, at a time when banks are pulling back en masse from the shipping industry.
Rio Tinto Beats Q4 Expectations, Reaffirms 2017 Targets
Strong cash flows could lead to significant dividend hikes and share buybacks, underpinning a rally that has lifted shares by a third in the three months. Rio Tinto shares traded firmly lower in London Tuesday despite solid fourth quarter earnings from the world’s biggest seaborne iron ore exporter and a confirmation of its 2017 targets that set the stage for increased dividends and share buybacks.
Singapore Wealth Fund Said to Hit Snag on Vietnam Deal Approval
Singapore sovereign fund GIC Pte has hit a snag as it seeks government approval for its planned investment in Bank for Foreign Trade of Vietnam JSC, the nation’s biggest lender by market value, people with knowledge of the matter said. The deal, originally expected to be completed by the end of 2016, hasn’t yet been approved by Vietnamese authorities, according to the people.
Trump Fears Fade, Emerging Market Stocks Heat Up
Emerging market exchange traded funds were among the worst hit in the wake of Donald Trump’s election day win, but the asset category has quickly rebounded in recent weeks, breaking back above their trends. For instance, the widely observed Vanguard FTSE Emerging Markets ETF is 6.9% higher and iShares MSCI Emerging Markets ETF is up 7.7% since the late December lows.
Out-of-Touch Elite: What They Can Learn From Donald Trump
U.S. President-elect Donald Trump (C) smiles as he is applauded by his son Eric Trump (L) daughter Ivanka and son Donald Trump Jr. (R) ahead of a press conference in Trump Tower, Manhattan, New York, U.S., January 11, 2017. REUTERS/Shannon Stapleton (
The Latest: In Davos, Trump adviser rebuts isolationism talk
John Cryan, Chief Executive Officer of Deutsche Bank, speaks during a panel session on the first day of the 47th annual meeting of the World Economic Forum, WEF, in Davos, Switzerland, Tuesday, Jan. 17, 2017. ( CEO of The Dow Chemical Company Andrew N. Liveris gestures as he speaks during a panel ‘Size matters: The Future of Big Business’ at the ‘World Economic Forum’ in Davos, Switzerland, Tuesday, Jan. 17, 2017.
BAT agrees to buy Reynolds for $49 billion
British American Tobacco has agreed a $49.4 billion takeover of U.S. rival Reynolds American Inc , creating the world’s biggest listed tobacco company after it increased an earlier offer by more than $2 billion. BAT, which already owned 42 percent of Reynolds, will pay $29.44 in cash and 0.5260 BAT shares for each Reynolds share, it said, a 26 percent premium over the price of the stock on Oct. 20, the day before BAT’s first offer was made public.
Why You Might Do Your Best Work When You Don’t Have A Boss
… Trott had worked with his boss for a little over two years, both early members of the design team at the business news site Quartz. “The idea of not actually having anyone to oversee me, or check in on anything, or set new goals for me was kind of …
What Happened When I Stopped Saying “Sorry” At Work For A Week
We all say “I’m sorry” too often-that much you already know. And, trust me, I’m right in that boat with you.
Three Essential Rules For Desperate Freelancers To Avoid Getting Screwed
The moment someone asks for your services is the moment they expect you to ask to be paid for them. When you’re anxious to get work or earn a quick windfall, you’re more likely to get burned .
How (And Why) To Master The Habit Of Delaying Gratification
You already know what delaying gratification entails, which means you already know how difficult it is. Avoiding a temptation that’s standing right in front of you so you can hold out for something substantially better down the line-for many of us, that’s a losing battle.
It’s The Most Popular Month To Look For A Job: Here’s How To Stand Out
Here’s why it seems like everyone is looking for a new job in January . If you kicked off 2017 by browsing the online job boards, beefing up your resume, and submitting a few applications, you’re not alone.
House price inflation picking up again, ONS says
House price inflation picked up to 6.7% in the year to the end of November, according to the Office for National Statistics . The average price of a UK home in November was A 218,000, according to the ONS and Land Registry data.
State telecom firm disputes FCC’s findings of misconduct
A telecommunications provider in Hawaii is denying claims by the federal government that it received more than $26 million in overpayments of federal subsidies over a decade. The Washington, D.C., law firm Venable LLP filed a petition this month on behalf of Sandwich Isles Communications Inc., reported The Honolulu Star-Advertiser.
Brent Oil Trades Above $56 as Saudis See Market Balanced by June
Brent oil traded above $56 a barrel after Saudi Arabia said output cuts from OPEC and other producers will balance the market by June. Futures added 0.8 percent in London after advancing 0.7 percent Monday.
Samsung Succession in Disarray as Lee Criminal Case Advances
The long-orchestrated plan to cement Jay Y. Lee’s position atop Samsung Group may put him in jail instead, raising questions about who would step in to run South Korea’s biggest conglomerate in the aftermath. Prosecutors are seeking Lee’s arrest on allegations including bribery and embezzlement, which if proven could prompt him to relinquish duties at the family business.
Internal document raises possibility of ‘Netflix tax’
A briefing note for MA lanie Joly, minister of Canadian Heritage, weighs the pros and cons of enforcing a sales tax on the digital services of foreign companies such as Netflix. The Liberal government is reviewing whether to enforce a so-called Netflix tax on the digital services Canadians buy from foreign-based firms over the internet.
Why the Dow Jones hitting 20,000 is meaningless
Trader Peter Tuchman, on the floor of the New York Stock Exchange , wears a cap in anticipation of the Dow Jones Industrial Average reaching the 20,000-point mark. Host of On The Money on CBC News Network and economics reporter for CBC news.
Top-down solutions from Davos elite out of step with populist anger: Don Pittis
A member of the Swiss special police guards the Congress Hotel as the rich and famous gather at the World Economic Forum that officially begins today in the ski resort community of Davos, Switzerland. Don Pittis was a forest firefighter and a ranger in Canada’s High Arctic islands.
Foxconn Billionaire Said to Assuage China About U.S. Plans
Foxconn Technology Group Chairman Terry Gou has moved to reassure China’s government the Apple Inc. assembler remains committed to the country even as it expands U.S. operations when President-elect Donald Trump takes office, people familiar with the matter said. A high-ranking Chinese official recently expressed Beijing’s concerns to Gou, the people said, asking not to be identified because the conversation was private.
The World’s Most Sustainable Companies 2017
Build a voice and an opinion first, and then if it resonates with the audience, then you’ll get an audience.”
Deutsche Bank May Withhold 90 Percent of Bonuses, NY Post Says
Deutsche Bank AG may withhold bonuses from as many as 90 percent of its bankers and traders, the New York Post reported, citing unidentified people briefed on internal talks. Only the top 10 percent are expected to receive a bonus for 2016, and those payments may be spread out over the next five years, the newspaper said.