Markets

Randgold, Barrick Gold confirm merger creating $18.3B mining giant

Randgold, Barrick Gold confirm merger creating $18.3B mining giant In Barrick's case, a merger would help the miner boost output at a time when the stock has been punished for the company's stagnant pipeline. Both Thornton and Randgold's Chief Executive Officer Mark Bristow are outspoken leaders with strong visions. [Full Article...]

Michael Kors to take control of Italy's Versace

Michael Kors to take control of Italy's Versace The Versace family, which owns the rest of the company will keep a role. Bloomberg and Reuters news agencies later reported the buyer would be fashion group Michael Kors . After investing in Versace at a high multiple, Blackstone found the fashion group's performance disappointing and not sufficient to justify a market listing, said one of the sources, who is close to the family. [Full Article...]

Pandora is being purchased by SiriusXM for $3.5 billion

The addition of Pandora diversifies SiriusXM's revenue streams with the U.S.'s largest ad-supported audio offering, broadens our technical capabilities, and represents an exciting next step in our efforts to expand our reach out of the vehicle even further. [Full Article...]

OPEC, Russia rebuff Trump's call for immediate boost to oil output

Saudi Arabia , OPEC's biggest producer, says it can add an extra 1.5 million barrels per day - about 1.5 percent of world demand - to the market. The lukewarm response to Trump's tweet has seen global crude futures spike in Asian trade with both Brent and WTI front-month contracts jumping more than 1% to $79.88 and $71.60 per barrel respectively. [Full Article...]

Petrol crosses 90 mark in Mumbai, shoots up in other cities

Petrol crosses 90 mark in Mumbai, shoots up in other cities A litre of petrol was being sold in Mumbai at the rate of Rs. 90.08, according to the website of International Olympic Committee, the largest fuel retailer of the country. The rates went up in other metros too; petrol costs Rs 84.54 per litre in Kolkata, and Rs 85.99 per litre in Chennai. Maharashtra levies 25 per cent value-added tax (VAT) on petrol in Mumbai, in addition to a surcharge of Rs 9 f... [Full Article...]

OPEC raises forecast based on USA oil production

In its latest forecast on the global oil landscape, the Organization of the Petroleum Exporting Countries said it expects US shale growth to "slow significantly" after 2023, before peaking at 14.3 million barrels a day between 2027 and 2028. [Full Article...]

Porsche ends diesel production for good

Porsche ends diesel production for good It is, and will remain, an important propulsion technology. "We as a sports auto manufacturer, however, for whom diesel has always played a secondary role, have come to the conclusion that we would like our future to be diesel-free". Nevertheless, Porsche's image has suffered . It has not had a diesel in its line up since February. The company will introduce the Taycan model next year, the ... [Full Article...]

ABC sacks Michelle Guthrie as Managing Director

ABC sacks Michelle Guthrie as Managing Director David Anderson who is now ABC's head of specialist and factual will stand in as the interim managing director. While it's nice to see so many people invested in the succession plan of the entertainment industry staple, the announcement does leave us with a few questions; like why did the Board feel the public should not be told the reason behind its decision to remove Guthrie? The sensation... [Full Article...]

OPEC raises forecast based on United States oil production

Iranian Oil Minister Bijan Zanganeh also said on Sunday he hoped decisions taken by the OPEC and non-OPEC ministerial committee would not be affected by U.S. In August, OPEC and its allies cut production by 600,000 bpd more than their pact required, mainly as a result of falling output in Iran as customers in Europe and Asia reduced purchases ahead of the US sanctions deadline. [Full Article...]

Son of UB President arrested in Florida after trying to steal plane

Son of UB President arrested in Florida after trying to steal plane At around 2 a.m., the student drove to the hangar when the A321 aircraft was parked, left his vehicle running, and boarded the plane. Airport spokeswoman Lori Booker said officials conducted a sweep of the airfield before reopening the airport. [Full Article...]

Ripple To Launch Payment Service, XRP Price Surges By 74% Since Announcement

Ripple To Launch Payment Service, XRP Price Surges By 74% Since Announcement In a declaration by the Korea-based mobile carrier on Sunday, the trial service is expected to start next year, and would employ the expertise of a cross-carrier blockchain platform referred to as CCPS (cross-carrier payment system). The weight of their legacy model and cost structure may be inhibiting their ability to adapt and innovate in this regard. Ripple's Sarbhai said that more than 12... [Full Article...]

France sees Brexit deal as possible, but must prepare for 'no deal'

France sees Brexit deal as possible, but must prepare for 'no deal' Relations between the EU and Britain have always been a bit prickly, but EU Commission chief Jean-Claude Juncker said Friday that the Brexit negotiations are beginning to resemble the courtship of two hedgehogs. One of the aides was said to have been overheard asking another Tory strategist: "What are you doing in November - because I think we are going to need an election". [Full Article...]

Australia strawberry needle crisis spreads to New Zealand

Australia strawberry needle crisis spreads to New Zealand Countdown advised customers to cut up any Australian strawberries before eating them. According to the Herald, the strawberries were sold nationwide last week. The damage caused by the sabotage prompted Prime Minister Scott Morrison to announce a 10 to 15 year maximum prison sentence for food tampering offences, calling the perpetrator a "grub". [Full Article...]

Tilray stock soars another 27% premarket

Tilray stock soars another 27% premarket Marijuana remains illegal in the U.S.at the federal level, but it's legal for recreational use in nine states and Washington, D.C., and for medical use in 31 states, according to the National Conference of State Legislatures. "Our long-term vision is if a patient walks into any pharmacy in any country in the world that has legalized cannabis that patient should be able to obtain a Tilray product". [Full Article...]

Taped sneakers sold by Nordstrom prompt backlash

Taped sneakers sold by Nordstrom prompt backlash Reaction was so intense Wednesday night that tweets on the subject were compiled onto a landing page for quick consumption in Twitter's "moments" tab, where they quickly gained more traction. Others fought back, noting that Golden Goose creates unique, handcrafted shoes that are worth their price. At the time, the company sold glittery sneakers also with duct tape. [Full Article...]

Comcast outbids Fox with $40 billion winning offer for Sky

Comcast outbids Fox with $40 billion winning offer for Sky With Sky in the fold, Comcast's global revenue will go from 8% of its total to 25%, according to Imperial Capital. Comcast operates a more integrated model in the U.S. "Consumers are no longer buying whole cable packages but are rather going for 'skinny bundles" with SVODs (subscription video on demand) such as Netflix , which offer content at a lower price point; acquiring Sky means that Comca... [Full Article...]

Oil prices pull back as Trump tweet shifts focus to OPEC

Oil prices pull back as Trump tweet shifts focus to OPEC A change in the law allowing U.S. companies to export crude oil for the first time in 40 years also came into effect in 2015, further boosting production. U.S. Energy Secretary Rick Perry had separate meetings with Saudi Arabian and Russian officials this month. A Bloomberg survey of analysts forecasts a 2.5-million-barrel decline in nationwide inventories. [Full Article...]

Uber in talks to acquire European food delivery startup Deliveroo | Leadership

Uber in talks to acquire European food delivery startup Deliveroo | Leadership No talks about acquisition price have come out in the public. The value of the proposed deal is not known, according to Bloomberg , which first reported on the talks, citing people familiar with the matter - but they would likely have to be for more than $2 billion, the United Kingdom company's latest valuation after raising $98 million. [Full Article...]

The airline notably embarrass with the inscription on the plane

The airline notably embarrass with the inscription on the plane The company conducts airline operations principally to and from Hong Kong. The airline first engaged Salesforce for its digital overhaul as a Sales Cloud and Service Cloud customer in 2014. "The airline and travel industry is being disrupted, and we need to be ready for the customer of the future-the digital natives and those with a digitally-savvy mindset and accompanying expectations", said ... [Full Article...]

Emirates, Etihad airlines deny reports of merger

Emirates, Etihad airlines deny reports of merger An Emirates spokeswoman said the company doesn't comment on speculation, as did a spokesman for Etihad, Bloomberg News said. And now UAE based airlines Emirates and Etihad have strictly dismissed the report. after concluding that doubling the fleet is no longer viable, calling into question scores of wide-body jet orders. The Emirates-Etihad merger was rumoured, as the two carriers have been... [Full Article...]


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