Real estate investment trusts have been a favorite instrument for many investors during recent years. Not only do they provide a way to play the real estate market without buying and selling physical properties, but they pay out hefty and healthy dividends .
Valeant Launches Loan Offering Days After Paying Down $1.1 Billion in Debt
Just days after paying down $1.1 billion in debt, embattled biotech Valeant is taking out $2.5 billion more in senior secured notes. The company’s shares were trading at heavy volume just after opening bell Thursday.
AT&T’s Flashing Yellow Light
Time Warner Inc. investors are becoming convinced the company’s sale to AT&T Inc. will get done, even though President Donald Trump at one point seemed intent on stopping it. But don’t get too excited.
WeWork Is Giving Away $20 Million in Cash to Other Startups
Unlike most startups, WeWork Cos. doesn’t seem to struggle with raising money. Soon it’ll start spreading some of its cash around to smaller startups, partly in the hopes of luring them to become WeWork customers.
AIG Says CEO Hancock to Quit as Swelling Losses Hurt Icahn
Peter Hancock will resign as American International Group Inc.’s chief executive officer after the insurer suffered losses four of the past six quarters and faces pressure from activist investors including Carl Icahn and John Paulson. Hancock, 58, will remain CEO until a successor is named, the New York-based insurer said Thursday in a statement.
Emirates Chief Warns of `Gathering Storm’ From Discount Rivals
Emirates President Tim Clark said he’s bracing for a “gathering storm” as low-cost airlines encroach on the inter-continental routes around which the biggest long-haul carrier has built its business. Dubai-based Emirates sees threats across all markets from rivals spanning Norwegian Air Shuttle ASA to the Scoot unit of Singapore Airlines Ltd., Clark said Thursday in Berlin.
BMW’s Profitability Hits Lowest Since 2010 Amid Tech Rivalry
BMW AG reported its weakest profitability since 2010, capping a negative year for Chief Executive Officer Harald Krueger after the luxury-car marque lost its crown to arch-rival Mercedes-Benz. Amid higher spending on battery-powered and autonomous-driving technologies, BMW’s automotive profit margin narrowed to 8.9 percent in 2016 from 9.2 percent a year earlier, according to a statement on Thursday.
Albert Edwards: The Fed is about to cause a bond market ‘bloodbath’
Markets are pricing in a 100% probability that the Fed will raise its benchmark rate when it meets from March 14-15. The Fed’s most recent projection for the fed funds rate , which will be updated at the meeting, showed that it could hike as many as three times this year.
FCC says it will investigate AT&T wireless 911 outage
The Federal Communications Commission said Wednesday night it will investigate “the root cause” of an outage that prevented AT&T wireless customers in several states from connecting to 911. FCC chairman Ajit Pai tweeted, “.@FCC AT&T has reported to me that 911 service is now restored.
Samsung head Jay Y Lee denies bribery, embezzlement charges in Seoul trial
Jay Y. Lee, co-vice chairman of Samsung Electronics, is at the centre of a growing bribery, perjury and embezzlement scandal in South Korea. The head of South Korea’s Samsung Group, Jay Y. Lee, denies all charges against him, his lawyer said on Thursday, at the start of what the special prosecutor said could be the “trial of the century” amid a political scandal that has rocked the country.
Futures Slip as U.S. Crude Falls Below $50
U.S. stock index futures dipped slightly on Thursday as U.S. crude prices fell below $50 and investors remained cautious ahead of Friday’s nonfarm payrolls data that could move the needle on an interest rate hike next week. Also on investors’ minds is a policy announcement from the European Central Bank on Thursday.
European Central Bank Leaves Interest Rates Unchanged
The European Central Bank left its policy stance unchanged as expected on Thursday, keeping unprecedented stimulus in place and maintaining its dovish guidance even though inflation and growth have rebounded more quickly than expected. Facing low inflation and weak growth, the ECB has kept interest rates in negative territory and bonds purchases at 80 billion euros a month, promising substantial accommodation and an extended market presence to aid the euro zone’s recovery.
Bill Gross: Don’t be Allured by ‘Trump Bull Market’
Bond investor Bill Gross warned on Thursday that investors should not be tempted into buying high-flying equities and corporate bonds, given the possibility that U.S. President Donald Trump might fail to enact policies that fuel economic growth. Wall Street’s main indexes have rallied since Trump was elected president and remain close to all-time highs, driven by optimism that his policies may stimulate growth in various industries and push share prices even higher.
Aig Ceo Peter Hancock to Resign
Hancock will remain CEO until a successor has been named, the company said. (Reporting by Nikhil Subba in Bengaluru; Editing by Saumyadeb Chakrabarty)
Why we’re unlikely to find any Russian connection in Trump’s tax returns
Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events Donald Trump is the first U.S. president since Richard Nixon to shield his tax returns from public view, despite initially saying he would release them. Every week seems to bring yet another revelation about possible relationships between Russia and people close to Donald Trump.
Companies courting lawsuits with worker Twitter crackdown?
On the local scene lately, it seems one of the best ways to disrupt a career is to let your fingers do the talking and tweet remarks that get you in trouble with the boss. Already this year, ABC -7 sportscaster Mark Giangreco was hit with a multiweek suspension without pay for chiding the country’s best known Twitter user, President Donald Trump .
Staples Stock Falls Premarket on Earnings Miss
Staples stock was falling nearly 2% premarket after the office supply retailer reported fourth quarter earnings of 25 cents per share on revenue of $4.6 billion. Analysts on average were expecting the company to report earnings of 26 cents per share on revenue of $5 billion.
Bayer, Monsanto Initiate $2.5 Billion Asset Sale
Artificial crop and chemical manufacturers Bayer and Monsanto are selling off assets worth about $2.5 billion as they seek regulatory approval for their $66 billion merger. The divestiture is about $1 billion more than the $1.6 billion they had previously said they expected to have to divest.
Crude Futures Slip Below $50
Crude futures fell below the $50 mark Thursday, extending the largest decline in the price of oil in over a year as the industry continues to battle a supply glut. U.S. crude inventories rose to 528.4 million barrels, an all-time high, after building up by 8.2 million barrels over the past week.
Carrefour Continues to Struggle on its Home French Turf
France’s major retailers are taking significant hits from domestic markets on their bottom lines amid a persistently weak consumer environment in Europe’s second-largest economy. France’s major retailers are taking significant hits from domestic markets on their bottom lines amid a persistently weak consumer environment in Europe’s second-largest economy.
Google’s Latest Cloud Event Suggests Its Enterprise Message is Gaining Traction
While Amazon remains the cloud infrastructure market’s 800-pound gorilla, Google’s unique services are winning over more businesses. This column originally appeared on March 8 on Real Money, our premium site for active traders.
Cramer: Do Not Sell Cisco
“I would hate to see you out of it,” Cramer said Wednesday in an exclusive conference call with members of his Action Alerts PLUS club for investors. Cisco’s share price took a hit in November on disappointing guidance and sat out the market’s post-election surge until February, when the stock began to rally.
European TV Giant RTL Group Reports Record Full-Year Earnings
The parent company of Germany’s RTL, France’s M6 and ‘Young Pope’ producer FremantleMedia saw profits and revenue hit new highs thanks to German TV and digital expansion. Its annual results published Thursday saw RTL post record revenue and profits, thanks mainly to a still-booming German TV market and to strong growth in the company’s digital operations.
Us FCC to probe at&T 911 call outage
AT&T’s mobile subscribers in some U.S. states were not able to make 911 emergency calls late Wednesday, leading to complaints from police departments and emergency agencies in various parts of the country. Federal Communications Commission Chairman Ajit Pai wrote on Twitter that his agency was receiving reports of widespread AT&T 911 call outages and its public safety staff were investigating.
William Morrison Posts Solid Full-Year Profits, Cautions on Imported Food Costs in 2017
Wm. Morrison Supermarkets posted it first full-year profits in five years Thursday but cautioned on “uncertain” conditions for grocery store companies in 2017. Wm. Morrison Supermarkets plc posted it first full-year profits in five years Thursday but cautioned on “uncertain” conditions for grocery store companies in 2017.
Shell Plans Partial Exit From Canada’s Oil Sands; Will Hold 10% Athabasca Stake
Royal Dutch Shell said Thursday that it will significantly reduce its assets in Canada’s controversial oil sands area in the province of Alberta. Royal Dutch Shell said Thursday that it will significantly reduce its assets in Canada’s controversial oil sands area in the province of Alberta.
Oil Inches Back From $50 Ledge as U.S. Supply Stymies OPEC Cuts
Oil halted losses after the biggest drop in more than a year as record U.S. crude stockpiles began to raise doubts about the effectiveness of OPEC-led efforts to ease a global glut. Futures gained as much as 0.9 percent in New York after losing 5.7 percent the previous three sessions and threatening to slip below $50 for the first time since December.
Secrets of Korea’s Elite to Air in `Trial of the Century’
The trial of Samsung Electronics Co. vice chairman Jay Y. Lee began Thursday, as prosecutors try to prove the billionaire conspired to funnel millions of dollars to a confidante of President Park Geun-hye to help secure control of the world’s largest smartphone maker.
Military-Grade Tech to Monitor Eggplants Rather Than Explosives
On a rooftop in the Jewish-Arab Tel Aviv neighborhood of Jaffa, a former military technologist and an ex-journalist sit in a transparent bio-dome where their robot is busy learning how to grow food. Flux IoT’s Eddy, a robot measuring less than a foot tall and resembling a life buoy, is built with military-grade sensors and armed with image-processing technology.
The FCC is investigating AT&T’s sudden 911 outage
The Federal Communications Commission is investigating a outage of 911 emergency service that affected some AT&T Wireless customers in several states on Wednesday night. The outage, which lasted about an hour, prevented affected customers from making 911 calls.
Oil Rises on Output Cuts
Oil prices climbed on Thursday after sharp losses the session before, buoyed by strong compliance with touted international production cuts, although a surge in U.S. crude inventories continued to drag. The Organization of the Petroleum Exporting Countries and other oil producers reached an agreement last year to cut output by almost 1.8 million barrels per day in the first half of 2017, with investors paying close attention to levels of compliance with the landmark deal.
Nikkei Gains Helped by Weaker Yen; Toshiba Dives
Japan’s Nikkei share average snapped a four-day losing streak on Thursday, helped by a weaker yen as the dollar gained after a private jobs report cemented expectations the U.S. Federal Reserve will raise interest rates next week. Toshiba Corp dived 7.2 percent and was the fourth most traded stock by turnover after sources told Reuters Westinghouse Electric Co LLC, the U.S. nuclear power plant developer it owns, has brought in bankruptcy attorneys from law firm Weil Gotshal & Manges LLP.
China Stocks Close at 2-Week Lows on Slumping Oil Prices
China stocks closed at two-week lows on Thursday, as energy shares tumbled on diving oil prices while global investors turned cautious ahead of a widely expected hike in U.S. interest rates next week. Renewed weakness in the yuan currency also dampened confidence, though China’s state banks stepped into the market to keep the currency from falling too fast.
County leads join political efforts to ban toxic chemical from refineries in Torrance and Wilmington
The county Board of Supervisors, prodded by increasing political and regulatory efforts to protect public health and safety, endorsed proposals Wednesday to ban highly toxic hydrofluoric acid from the two South Bay refineries that use the chemical. That has prompted the South Coast Air Quality Management District to propose banning the chemical by year’s end .
Budget 2017: Squeeze on family finances ‘extended until 2020s’
The squeeze on both family and public finances have been prolonged until well into the 2020s, according to a think tank’s analysis of the Budget. The UK is on course for an unprecedented 15 years of spending cuts and lost pay growth the Resolution Foundation said.
European Stocks Called Lower After Wall Street Declines; ECB Meeting in Focus
European stocks are expected to open lower Thursday following three consecutive session declines on Wall Street as investors await a key policy meeting from the European Central Bank. European stocks are expected to open lower Thursday following three consecutive session declines on Wall Street as investors await a key policy meeting from the European Central Bank .
Carrefour Posts Solid Full-Year Earnings, Sees Stronger Sales Gains for 2017
Carrefour, the world’s second largest retailer, posted full year earnings that were largely in-line with analysts’ forecasts and reiterated plans to float is Carmila property division sometime later this year. Carrefour SA , the world’s second largest retailer, posted full year earnings that were largely in-line with analysts’ forecasts and reiterated plans to float is Carmila property division sometime later this year.
RadioShack Bankruptcy Protection Part Deux
U.S. electronics chain RadioShack filed for bankruptcy on Wednesday for the second time in a little over two years, faced with a challenging retail environment and an unsatisfying partnership with wireless provider Sprint Corp. The Chapter 11 filing comes after RadioShack, owned by General Wireless Operations, tried to revitalize its business by co-branding stores with the wireless carrier in an effort to compete against their largest rivals. General Wireless, which acquired the RadioShack brand in 2015, listed assets and liabilities in the range of $100 million to $500 million in the U.S. bankruptcy court for the Delaware district.
Bull Market in U.S. Stocks Turns 8
The run of gains on Wall Street turns 8 years old on Thursday and, despite its advanced age, is expected to rage on, with perhaps a few hiccups, based on a combination of stronger company earnings, lower taxes and a corporate-friendly administration in Washington. Strategists, however, warn that a correction of as much as 10 percent should be expected as the market is richly valued.
Congress looks to overturn Obama internet privacy rules
PanARMENIAN.Net – Republicans in the U.S. Congress are moving to repeal regulations adopted by the Obama administration in October that would have subjected internet service providers to stricter scrutiny than websites to protect customers’ private data , Reuters reports. Senator Jeff Flake of Arizona introduced a resolution on Tuesday, March 7 backed by 34 other senators to undo the regulations under a provision that allows Congress to repeal recently approved federal regulations.