Markets


Brexit minister Davis - It is the government's right to trigger Article 50
- October 13, 2016

Britain can not reveal its top priorities in upcoming talks with the European Union on leaving the bloc, because doing so would be "expensive" for the government, Brexit minister David Davis said on Wednesday. Thornberry strongly denied she had ever sought a second Brexit vote. He also said that while he will in the future be "pressing for a vote" on the government's Brexit terms, Labour's motion on Wednesday was meant to ensure parliamentary scrutiny rather than secure a vote. (more...)
Samsung Distributes Flame-Proof Boxes for Note 7 Recall Samsung Distributes Flame-Proof Boxes for Note 7 Recall
- October 13, 2016

The fiasco of Samsung's fire-prone Galaxy Note 7 smartphones - and Samsung's stumbling response to the problem - has left consumers from Shanghai to NY reconsidering how they feel about the South Korean tech giant and its products. Samsung's shares plunged by 8 percent on Tuesday, the largest intraday drop since the financial crisis in 2008. And that was before it announced it was discontinuing the Note 7. (more...)
Toyota, Suzuki tying up in technology, ecology partnership Toyota, Suzuki tying up in technology, ecology partnership
- October 13, 2016

In exploring collaboration between Toyota and Suzuki Motor Corp., chieftains Akio Toyoda and Osamu Suzuki seek to tie together companies with a history of failed alliances. The New York Times reports that an alliance between Suzuki and Toyota may be in the works. It is also the majority owner of Hino Motors Ltd., the largest shareholder in Subaru maker Fuji Heavy Industries Ltd. (more...)
Snapchat has reportedly chosen Morgan Stanley and Goldman Sachs for its IPO
- October 13, 2016

Sources tell Bloomberg that Snap Inc. has picked a pair of banks to lead its planned initial public offering next year: Morgan Stanley and Goldman Sachs . Morgan Stanley had in September arranged a credit facility for Snap Inc , the parent company of Snapchat . So it's no surprise that both of those banks have been asked to help with Snapchat's potential public offering, Barinka said. (more...)
Top Bankers Warn Of Risk Of 2017 Exodus From Britain
- October 13, 2016

Yesterday, new member of the Bank of England's Monetary Policy Committee Michael Saunders told MPs at the Treasury Select Committee he expects sterling to fall further as the United Kingdom adjusts to the post-Brexit vote environment. But the issue has split the Conservatives, and Tory lawmakers loudly heckled one another during the six-hour debate. The Labour leader said the Government offers "no strategy for negotiating Brexit and offers no clarity, no transparency and no chance of ... (more...)
Wells Fargo CEO retires under fire
- October 13, 2016

Stumpf joined Wells Fargo in 1982, became its CEO in 2007 and took on the title of chairman in 2010. The package remains that large even after Stumpf last month agreed to a $41 million clawback following a grilling he received from the Senate Banking Committee reprimanding him for not taking responsibility. (more...)
Clinton demands of GOP: Are you with him or not?
- October 13, 2016

Trump campaign manager Kellyanne Conway, in a conference call that included former House Speaker Newt Gingrich, criticized the Clinton campaign's "hostility to religious liberty" and said the aides involved should be fired. Hillary Clinton's top adviser, meanwhile, raised the prospect of an extraordinary link between Russian Federation and the US presidential election. (more...)
Domino's Pizza confident over full-year results despite sales slowdown Domino's Pizza confident over full-year results despite sales slowdown
- October 13, 2016

United Kingdom third quarter sales increased to £220.9mln, versus £200mln in Q3 2015, while Irish sales rose to €14.9mln from €13.8mln. Switzerland's system sales grew 5.3 percent, while LFL sales were flat. "The comparatives remain challenging, but the continued strong sales performance means the board is confident our forecast full-year results will be in line with market expectations", Domino's said. (more...)
Erdogan says TurkStream, nuclear power deals with Russia to be expedited
- October 13, 2016

Speaking at a joint news conference in Istanbul after signing an agreement on TurkStream with Russian President Vladimir Putin, Erdogan said time lost on the Akkuyu project would be made up. First put forward by Putin in 2014 after plans to build a similar South Stream gas pipeline to Bulgaria collapsed under European Union pressure, TurkStream envisions Russian Federation bypassing Ukraine by bringing gas to Turkey and onto Europe through Greece. (more...)
Oil Markets Could Rebalance In Early 2017 If OPEC Keeps Deal Oil Markets Could Rebalance In Early 2017 If OPEC Keeps Deal
- October 13, 2016

Growth in demand for oil slowed in the third quarter of 2016 to a four-year low as a result of "vanishing OECD growth" and a "marked" deceleration in China, according to the IEA. He said that if the trends persisted, they would give way to oil shortages and "new, unpredictable price hikes". " OPEC has abandoned its free-market policy set in train almost two years ago". (more...)
Capital Investment Services Of America Lowers stake in Union Pacific Corporation (UNP) Capital Investment Services Of America Lowers stake in Union Pacific Corporation (UNP)
- October 13, 2016

Oppenheimer Holdings has a "Market Perform" rating on the stock. Union Pacific Corporation closed down -0.81 points or -0.83% at $96.54 with 42,02,412 shares getting traded on Tuesday. The company's Market capitalization is $23.04 Billion with the total Outstanding Shares of 884.74 million. The transaction was disclosed in a document filed with the SEC, which is available through this link. (more...)
Wells Fargo CEO is out as bank grapples with sales scandal Wells Fargo CEO is out as bank grapples with sales scandal
- October 13, 2016

On September 8, Americans learned that Wells Fargo had fired 5,300 employees for secretly creating as many as 2 million unauthorized accounts since 2011 and was paying a penalty of $185 million. Warren tweeted on Wednesday that she would still like to see Stumpf "return every nickel he made" during the period the fake accounts were opened, as well as face an investigation by the Department of Justice and Securities and Exchange Commission. (more...)
Trump Taj Mahal to close 26 years after Trump opened it
- October 13, 2016

In this October 5, 2016 photo, a striker's sign is displayed on the Boardwalk in Atlantic City, N.J., advising of a walkout against the Trump Taj Mahal casino. Many of them have been picketing since going on strike in July. "Despite our best efforts, which included losing nearly $350 million over just a few short years, we were unable to save the Taj Mahal", Icahn said. (more...)
Dollar near 7-mth high on reinforced U.S. rate hike prospects Dollar near 7-mth high on reinforced U.S. rate hike prospects
- October 13, 2016

The dollar index, which measures the greenback against a basket of six major currencies, fell 0.1 per cent to 97.879. "If the minutes provide more data that the voter members in the FOMC are showing greater divergence in opinions, (then) combined with the recent release of USA economic data. (more...)
Hard Brexit could cost £66bn a year
- October 13, 2016

The government said it would not give a "running commentary" on negotiations. "I don't think it should debate on have a vote on whether to leave". What are the Brexit options? The Scottish National Party's Westminster spokeswoman for global trade, Tasmina Ahmed-Sheikh, said: " This leaked report not only shows the deep divisions at the centre of Theresa May's Government, but also clearly demonstrates that Cabinet ministers like Liam Fox, who advocate a hard Brexit, value ideological ... (more...)
Samsung revises down Q3 earnings after discontinuing Galaxy Note 7
- October 13, 2016

Samsung Electronics said Tuesday that it is discontinuing production of Galaxy Note 7 smartphones permanently, a day after stopping global sales of the ill-fated devices . Kim Duk-jin, the vice chief of private-run Korea-Insight Institute said that "Samsung is recommended to drop the Note brand as consumers may still find it unsafe even when the new Note 8 comes out". (more...)
Back in 1998 Trump called Bill Clinton's accusers 'unattractive' Back in 1998 Trump called Bill Clinton's accusers 'unattractive'
- October 13, 2016

Eighty-eight percent of Democrats support Clinton, while 83 percent of Republicans say they'll vote for Trump. House Speaker Paul Ryan has told GOP lawmakers Monday his highest priority was denying Clinton a congressional majority in the face of increasingly certain win. (more...)
China's exports, imports fall in September on weak demand
- October 13, 2016

Economists had expected exports to fall 3.3 percent and imports to rise 1 percent. "Still sluggish global demand appears to be to blame" for the steep decline in exports, Capital Economics analyst Julian Evans-Pritchard said in a report. (more...)
Zuma supports minister after fraud charges
- October 13, 2016

Section 27 says ANC leaders should obey their conscience and demonstrate their loyalty to the Constitution by refusing to allow Gordhan to be removed from office. Suspicions about a plot to gain control of the Treasury erupted in December when Zuma sacked respected finance minister Nhlanhla Nene and replaced him with an unknown lawmaker. (more...)
Cypress Semiconductor Corporation's (CY): Viewing Major Stock of Yesterday
- October 13, 2016

Hedge funds and other institutional investors own 94.67% of the company's stock. Nuveen Asset Management LLC boosted its stake in ON Semiconductor Corp.by 343.8% in the first quarter. CY is up +7.4% over the last three months and up +36.8% over the last six months. CY's value Change from Open was at -1.02% with a Gap of -0.08%. Many Wall Street Analysts have commented on ON Semiconductor Corp. (more...)

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