Markets


Fintech firm Misys to merge with Canada's DH Corp Fintech firm Misys to merge with Canada's DH Corp
- March 13, 2017

Vista said on Monday it would buy DH for C$4.8bn and combine it with Misys , which abandoned plans to list on the London stock market in October 2016, blaming shaky market conditions. Vista officials justify the merger because it will yield "a diversified Fintech market leader" with a global reach, a broad set of financial software solutions, approximately $2.2 billion in revenues, 10,000 employees and more than 9,000 customers across 130 countries, "including 48 of the top 50 banks". (more...)
Surdyk's fined, license suspended for Sunday sales violation Surdyk's fined, license suspended for Sunday sales violation
- March 13, 2017

Owner Jim Surdyk tells Minnesota Public Radio News (http://bit.ly/2mALeCp ) he chose to staff on Sundays as soon as he saw Gov. Mark Dayton sign the bill into law last week. "Why send more tax dollars to Wisconsin?" "We have people in the store", said Jim Surkyk, Liquor Store Owner. Surdyk can contest the city's 30-day suspension at a hearing of the city council's regulatory subcommittee. (more...)
Budget analysis: ObamaCare repeal would result in millions more uninsured Budget analysis: ObamaCare repeal would result in millions more uninsured
- March 13, 2017

That would force insurance companies to raise their premiums, which in turn would push more individuals to drop their insurance, leaving behind an even higher-risk pool and causing premiums to shoot up even more. The idea of offering tax credits to the uninsured to buy health insurance has been around since long before Obamacare was even a word. The national uninsured rate is below 9 percent, a historic low. (more...)
Why so few are anxious about likely Fed rate hike this week
- March 13, 2017

Markets have fully priced in an US interest rate rise when the Federal Reserve meets this Wednesday, a view cemented by robust U.S.jobs data. "You don't need any intrigue or fundamental shifts in beliefs about the economy to realize why a rate increase might be likely", Johns Hopkins University professor and former Fed adviser Jon Faust said of the central bank's plans. (more...)
Trump administration to review fuel economy regulations Trump administration to review fuel economy regulations
- March 13, 2017

President Trump will land in the Motor City on Wednesday and is expected to deliver a speech to talk about the automotive industry, specifically jobs and keeping them in the United States. The White House has not released details about the trip. However, when then the new regulations first were announced in 2011, the EPA set an April 2018 deadline for its review to determine whether the standards were feasible. (more...)
United Kingdom rents fall for first time in six years United Kingdom rents fall for first time in six years
- March 13, 2017

The reason? Well, the folks at Countrywide reckon it's down to a recent increase in the number of rental properties available in London, which is partly due to landlords rushing to buy property before a 3 percent stamp duty surcharge came into effect a year ago. (more...)
Retailer Gordmans files bankruptcy, plans to liquidate its stores Retailer Gordmans files bankruptcy, plans to liquidate its stores
- March 13, 2017

Liquidation usually leads to store closings but the president and CEO of Gordmans says all stores will operate as usual until further notice. Gordmans also announced an arrangement for the sale and liquidation of the inventory and other assets of Gordmans' retail stores and distribution centers with Tiger Capital Group, LLC and Great American Group, LLC. (more...)
Fed expected to send hawkish signals with the dot plot
- March 13, 2017

That's up from two hikes that respondents predicted in a survey in February and now matches the median number of increases that Fed policy makers forecast in December. A Reuters poll conducted on February 3 showed 14 primary dealers surveyed say they expected no rate hike in March with 12 of them anticipating such a move by the end of the second quarter. (more...)
Republicans fall short on health care Republicans fall short on health care
- March 13, 2017

This popular change will very likely decrease the number of people insured causing rates to increase for everyone else who pay for health insurance. "Republicans will come together and save the day". Furthermore, in a Fox News op-ed with Rep. Mark Meadows (R-N.C.), who chairs the conservative House Freedom Caucus , Ryan said the AHCA keeps "Obamacare-like subsidies to buy insurance but rename [s] them refundable tax credits". (more...)
Amec Foster Wheeler secures contract of Brunei Shell Petroleum Amec Foster Wheeler secures contract of Brunei Shell Petroleum
- March 13, 2017

Shares for both companies received a boost after the deal was disclosed, with AMEC and Wood seeing a 14.7 and 4.4 increase, respectively. Wood Group's shares also rose, up 6.8% to 804p. Ian Marchant will remain as chairman of the combined company. AMFW shares continued to top the FTSE 250 leader board in late morning trading, up over 14.5%, or 71.8p at 561.0p, while Wood Group shares were up nearly 4.5%, or 33.5p at 785.5p. (more...)
Arkansas Unemployment Rate Drops To 3.8 Percent Arkansas Unemployment Rate Drops To 3.8 Percent
- March 13, 2017

But as Arkansas saw unemployment decline, the US jobless rate increased one-tenth of a percentage point, rising from 4.7 percent in December to 4.8 percent in January. The annual growth rate of Colorado nonfarm payroll jobs was 2.3 percent in 2016, revised down from the previously published 2.6 percent. In another sign of tightening conditions, the average work week for all private sector employees increased from 33.4 to 33.8 hours. (more...)
Iceland Set To Remove Capital Controls Iceland Set To Remove Capital Controls
- March 13, 2017

Iceland has been lifting capital controls over the past year at an "incremental" rate, that will see the final measures removed later this week. Reykjavik broke off negotiations on European Union membership, nationalized three major banks and defaulted on $85 billion in loans. (more...)
Marissa Mayer to Get $23 Million Golden Parachute After Verizon Buys Yahoo Marissa Mayer to Get $23 Million Golden Parachute After Verizon Buys Yahoo
- March 13, 2017

Yahoo previously said that after the sale it would change its name from RemainCo to Altaba , whose remaining assets include a stake in Chinese online giant Alibaba Group and Yahoo Japan. She is expected to remain with Yahoo once it becomes part of Verizon during the second quarter. A separate filing notes that CEO Marissa Mayer and CFO Ken Goldman will continue in their present roles up till the closing of the Verizon deal. (more...)
U.S. attorney Preet Bharara fired by Trump administration after refusing to resign U.S. attorney Preet Bharara fired by Trump administration after refusing to resign
- March 13, 2017

She pointed to a Justice Department statement that said only two of the 46 U.S. attorneys are being exempted: Virginia U.S. Attorney Dana Boente, the acting deputy attorney general Dana Boente, and Maryland U.S. A short time later, New Jersey's U.S. Attorney Paul Fishman tendered his resignation as well. His office has secured settlements with companies including General Motors Co and JPMorgan Chase & Co; won several convictions and guilty pleas of former employees of Ponzi scheme ... (more...)
CRA website back online up after security concerns CRA website back online up after security concerns
- March 13, 2017

A notice on the website posted for much of Saturday said services including "the ability to electronically file your taxes, are temporarily unavailable as a result of system maintenance". Then the following day (Friday, March 10) the sites were again taken offline at 2 p.m. after deciding digital services could be at risk. Samson also said previously filed tax returns were still being looked at during the disruption. (more...)
US House panels OK Obamacare replacement after marathon debate US House panels OK Obamacare replacement after marathon debate
- March 13, 2017

The revived 2015 bill also would repeal the Prevention and Public Health Fund, often referred to as the "Obamacare slush fund", the Kentucky Republican said, and eliminate expanded eligibility for Medicaid. The report also noted , "People who live in rural and other areas of the country where health care costs and premiums are higher also would face higher premium surcharges if they had a gap in coverage". (more...)
Employers added strong 235000 jobs in February Employers added strong 235000 jobs in February
- March 13, 2017

The economy added 58,000 construction jobs in February, with gains in specialty trade contractors (+36,000) and in heavy and civil engineering construction (+15,000). The data also indicate that wages are rising at the fastest pace since the economic recovery began eight years ago, and that almost a half million new jobs were created in the first two months of 2017. (more...)
Over 2000 Vodafone jobs to be created in £2bn investment drive Over 2000 Vodafone jobs to be created in £2bn investment drive
- March 13, 2017

Around 800 of the new jobs will be based at the company's existing customer services centre in Manchester, around 150 will be created in Newark, more than 150 at Vodafone's Stoke contact centre, and around 100 at its Glasgow contact centre. (more...)
Brexit: UK government warned over 'serious dereliction of duty'
- March 13, 2017

Her critics who support the conditions imposed on the bill by the Lords say legislators must have the power to stop her quitting negotiations without an agreement. MPs demanding the right to reject a hard Brexit have warned that the United Kingdom could crash out of the European Union without a deal in six months. (more...)
N. Korea 'preparing for biggest nuclear test' N. Korea 'preparing for biggest nuclear test'
- March 13, 2017

Less than a week after North Korea test-launched four ballistic missiles that plunged into the Sea of Japan just 200 miles from Japan's coastline, the isolated country appears to be readying its Punggye-ri nuclear site for a future test. China is South Korea's largest trading partner and the most important source of inbound tourism, "This could be just the beginning", says Michael Na of Nomura Financial Investment Korea, "China has so many options to punish Korean businesses, nearly every ... (more...)

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