Markets


VW says recall will be limited to older diesel engines
- November 03, 2015

The software allowed Volkswagen vehicles to pass emissions tests without the usual trade-off in fuel economy and performance. In Europe, Volkswagen makes about 40 percent of its sales. A few of the employees were directly involved in programming cars to cheat on emissions tests, but others may share blame because they found out about it and did not pass the information up the chain of command. (more...)
Ali Khamenei proposes that Assad hold elections Ali Khamenei proposes that Assad hold elections
- November 02, 2015

Elections will allow the civil war in Syria to be stopped, the supreme leader of the Islamic Republic of Iran, Ali Khamenei , stated today. The war, in its fifth year, has killed around 250,000 people and displaced millions more. The root cause of insecurity in the region is Washington's support for the Zionist regime of Israel and the terrorist groups, the Leader underscored. (more...)
Ellison: Oracle cloud compute is half the price of AWS Ellison: Oracle cloud compute is half the price of AWS
- November 02, 2015

Oracle Corporation (NYSE:ORCL) has beefed up its efforts of grabbing a chunk of the cloud market, with a new range of IaaS services and subscriptions that put the company in direct competition with Amazon Web Services. Oracle is investing in the cloud as the company comes under growing pressure from rivals that deliver software via connections over the Internet. (more...)
Lufthansa cabin staff plan week of walkouts: Union Lufthansa cabin staff plan week of walkouts: Union
- November 02, 2015

Lufthansa said on Sunday that the offer it had made for retirement provisions was the best it could do without worsening its cost position further. FRANKFURT-Deutsche Lufthansa AG's cabin crew union, UFO, said Monday it will stage a one-week strike at the German flagship carrier, should Lufthansa fail to come forward with an improved offer by Thursday afternoon. (more...)
Northrop Grumman wins multi-billion dollar contract Tuesday Northrop Grumman wins multi-billion dollar contract Tuesday
- November 02, 2015

Northrop Grumman had been competing against Boeing and Lockheed Martin for the deal, which will value the aircraft at about a half billion dollars each. The USA government is ready to buy 100 aircraft. The EMD phase contract is a cost-reimbursable incentive agreement, which transitions to fixed-price options "with incentives for cost" for the five production lots. (more...)
Uber taxi driver, Edward Caban, pepper sprays abusive drunk passenger in Uber taxi driver, Edward Caban, pepper sprays abusive drunk passenger in
- November 02, 2015

Golden is out of jail but faces charges, including assault on a cab driver and public intoxication. The passenger then opens the door and says; "Let me tell you something you little s***". The suspect, who is seated directly behind the driver, begins slapping Caban, pulling his hair and slamming his head toward the auto window. "I turned around and sprayed as much as I could onto his face until he got out of the vehicle", said Caban. (more...)
GM recalling 1.4M cars; oil leaks can cause engine fires GM recalling 1.4M cars; oil leaks can cause engine fires
- November 02, 2015

More than 2,00,000 United States cars were recalled in 2008 post investigation. All have a 3.8-liter V-6 engine. This oil can seep out under hard braking, causing it to fall onto the exhaust manifold and catch fire. There is no charge to owners for the repairs. This will ensure that homes and garages would be safe from burning down in the event that fire originates from the car's engine. (more...)
Time Warner Cable Q3 Profit Tops Estimates By $0.05 Time Warner Cable Q3 Profit Tops Estimates By $0.05
- November 02, 2015

Although the pay-TV industry is indeed in slow and steady decline, the results from Comcast, TW Cable and Charter show that "all three are now outperforming pay TV as a whole", he wrote. Rutledge said in a separate call that the company was operationally ready to close the deal before 2015 ends. The company's position is complicated by its deals to buy TWC and Bright House Networks. (more...)
SEC opens door to startup investing for all SEC opens door to startup investing for all
- November 02, 2015

Piwowar was the lone dissenting vote. "At that point we may be able to access more retail investors". The framework "strives to be workable for issuers and delivers a strong set of investor protections", she said. An individual can't invest more than $100,000 in all crowdfunding offerings during a 12-month period. Businesses would be limited to raising $5 million under that proposal, and the deals would be overseen by state regulators. (more...)
Valeant Falls Deeper; Citron Says Stock has Better Chance Going Zero Valeant Falls Deeper; Citron Says Stock has Better Chance Going Zero
- November 01, 2015

Valeant shares have plunged in the wake of a report from influential short-seller Citron Research that suggested the Canadian drugmaker may have fraudulently inflated revenues by using its ties with a specialty pharmacy. His efforts to link the two companies became so frequent that one person who dialed into the call said Ackman was trying to wrap "himself up in Buffett's clothes". (more...)
Valeant to sever ties with troubled pharmacy Philidor Valeant to sever ties with troubled pharmacy Philidor
- November 01, 2015

Mr. Pearson emphasized that Valeant's priority is "operating honestly and ethically". Valeant said Thursday that Philidor represented 6.8 percent of its revenue during the third quarter. Last week, under pressure from angry investors, Valeant revealed more about Philidor , saying it had an expanding "network of pharmacies" across the nation. (more...)
Sierra Announces Receipt of Unsolicited Proposal from Microsemi Corporation Sierra Announces Receipt of Unsolicited Proposal from Microsemi Corporation
- November 01, 2015

Massachusetts-based Skyworks said it reached an amended merger agreement with PMC that will see it pay $11.60 per share, up from the $10.50 the companies agreed to, earlier this month. The boards of directors of Skyworks and PMC have each approved the amended merger agreement. Aliso Viejo, Calif.-based Microsemi , which also makes chip equipment and provides software for cloud data, has been trying to build up its communications business at a time of surging demand for data storage on ... (more...)
Why Valeant Pharmaceuticals Intl Inc Tumbled Again Today Why Valeant Pharmaceuticals Intl Inc Tumbled Again Today
- November 01, 2015

Though, Valeant refused those claims at that time. Before the group of East Coast investors arrived late a year ago, Camarillo pharmacist Russell Reitz had been promoting his modest prescription-filling business as "your local pharmacy". (more...)
USA fed funds rate holds at 0.12 pct after Fed decision USA fed funds rate holds at 0.12 pct after Fed decision
- November 01, 2015

The requirements are most stringent for JPMorgan, followed by Citigroup Inc. Only a strong NFP showing will have the market believing in a rate hike after the Fed's latest timing hint. "It's like getting married because there's a sale at the bridal shop". The wage and confidence news comes just a day after the government reported gross domestic product growth of just 1.5 percent in the third quarter. (more...)
Oil prices drop in Asia on oversupply fears Oil prices drop in Asia on oversupply fears
- November 01, 2015

Torbjorn Tornqvist, chief executive at trading house Gunvor, said he did not expect the oil price to rise beyond normal volatility levels at least until mid-2016. "They know they are better off talking to each other to preserve the common, long-term interest; even those who left long to return if they can". However, given the amount of oil that might be exported it may not make much, if any, the difference in the global price of oil. (more...)
Pentagon awards major bomber contract to Northrop Grumman Pentagon awards major bomber contract to Northrop Grumman
- November 01, 2015

Atkins, D-San Diego, said that while Northrop Grumman and Lockheed Martin/Boeing made strong proposals, "the real victor is California's workforce". There's also the question of whether upgraded nuclear bombers are needed at all with the Cold War decades in the past though renewed tensions with Russian Federation and a technologically sophisticated Chinese force pose new challenges that may not have existed a decade ago. (more...)
Barclays confirms Jes Staley as new chief executive Barclays confirms Jes Staley as new chief executive
- November 01, 2015

Barclays shares were little changed at 249.95 pence at 9:07 a.m.in London. New Barclays boss Jes Staley could earn up to £8.2 million a year, it has been revealed. He helped found its equities business and later became CEO of asset management. In a memo sent yesterday to the bank's 134,000 staff, he promised to "complete the cultural transformation of the group". (more...)
Amazon enters into mobile payment service with Amazon enters into mobile payment service with "Pay With Amazon"
- November 01, 2015

The e-commerce giant brought PayPal's Patrick Gauthier on board this year, exclusively to create a payments' business for its Web and applications. Its efforts so far, have not yet resulted in providing the company with a payments platform at the level it desires. (more...)
Aer Lingus' new owner IAG to pay first ever dividend in December Aer Lingus' new owner IAG to pay first ever dividend in December
- October 31, 2015

That covers the period since the airline was acquired by global Consolidated Airlines' Group (IAG). Operating profits for the quarter to September 30 climbed to €1.25 billion, an improvement from past year of €350 million, including Aer Lingus and €305 million better excluding the Irish flag carrier. (more...)
Marathon Petroleum reports higher profits, lower revenues
- October 31, 2015

Oil companies have struggled lately to generate enough cash to cover their spending and dividends, despite efforts to slash billions of dollars from their budgets in the face of tumbling oil prices. On Thursday, Marathon Oil cut its quarterly dividend to 5 cents a share from 21 cents a share. Three analysts surveyed by Zacks expected $18.19 billion. (more...)