First Quantum Minerals Ltd., the owner of Africa's biggest copper mine, is drawing preliminary takeover interest from global miners after losing half its value over the past five years, people with knowledge of the matter said. Vancouver-based First Quantum, which has a market capitalization of C$7.7 billion ($5.8 billion), is working with defense advisers to examine its options, according to the people. It hasn't yet received any formal takeover offers, the people said, asking not to be identified because the information is private.
Brazil's currency and market-based interest rates fell sharply on Thursday after the central bank slashed borrowing costs to an all-time low and signaled it was prepared to do so again in the coming months. In highly liquid trading - with rates futures contracts changing hands at a volume that spiraled near all-time highs - traders and investors adjusted positions in anticipation of even lower borrowing costs to come. The central bank on Wednesday reduced its benchmark Selic rate by 50 basis points to 5.50%, highlighting tame domestic inflation and an increasingly uncertain global economic outlook.
The Democratic Party seems to be leaning towards the left on policies, which is very harmful for the economy. I don't like the shift to the left,” he explained to CNBC, adding that the market, of course, will open, but it won't be pretty. It would be a bear market and they go on for a year and go down 25%,” he said.
In a new interview, Jonathan and Drew Scott — co-hosts of the HGTV series “Property Brothers” — explain where buyers should invest in real estate, and why Las Vegas and Nashville are at the top of their list. “Don't go and invest across the country somewhere that you don't know,” Drew Scott says. Political or economic conditions can determine whether it's worthwhile to build somewhere, said Jonathan Scott, Drew's twin.
Rick Rieder, global chief investment officer of fixed income at BlackRock, said the Federal Reserve "needs to let the balance sheet grow" to prevent a recurrence of this week's spike in the overnight repurchasing rate. The so-called repo rate is the amount hedge funds and banks have to pay to borrow funds for a single day. Rieder made his comments at the CNBC Institutional Investor Delivering Alpha conference on Thursday.
The British pound has pulled back slightly during the trading session on Thursday, as the ¥135 level has offered a certain amount of resistance. There is the psychological aspect of that number, and of course the 38.2% Fibonacci retracement level sitting right there that will cause quite a bit of an issue. The market move recently has been a bit parabolic so it would make sense that we pull back from here, reaching down towards the ¥132 level, perhaps even the ¥130 level.
Sue Trinh, managing director for global macro strategy at Manulife Investment Management, discusses the repo market volatility and its impact on Fed policy. She speaks on “Bloomberg Markets: China Open.
At an event Wednesday at his house in San Francisco's Pacific Heights neighborhood, Ellison met with a small group of entrepreneurs, and spent more than an hour answering their questions on a variety of topics. Ellison asserted that while he is close friends with Softbank's Masayoshi Son, he doesn't see the investment case for either WeWork or Uber, both large holdings in Softbank's VisionFund. WeWork declined to comment on Ellison's remarks.
The Australian dollar has fallen a bit during the trading session on Thursday to reach towards the 0.68 level. This of course is a negative sign, so it is possible that we see more of a “risk off” move coming out there, but the reality is that money seems to be flowing towards the United States in general so it makes sense that this pair continues to fall. Beyond that we also have the US/China trade situation, as that situation continues to cause issues as real progress seems to be allusive to say the least.
For years, AT&T (NYSE:T) stock has been a “yield trap.” This is a stock who's dividend is too good to be true. DirecTv cost AT&T $49 billion in 2015 but has lost 2.5 million subscribers in the last year. AT&T CEO Randall Stephenson's planned glorious retirement next year is beginning to look more like former General Electric (NYSE:GE) CEO Jeff Immelt's more ignominious exit.
The United States could learn quite a bit from other countries around the world when it comes to retirement security, according to a new report. The annual Global Retirement Index, started by Paris-based investment bank Natixis Investment Managers, analyzes four key indexes: finances in retirement, including taxes and the old-age dependency ratio; health, such as life expectancy and expenses; “material well being,” which is income equality and unemployment; and quality of life, including happiness and water quality. Iceland topped the list this year, followed by Switzerland and Norway.
Here are some of the best National Cheeseburger Day deals 2019 to keep a look out for. Applebee's — The Classic Bacon Cheeseburger only costs $6.99 today and comes with endless fries. Burger King — Customers can get a 59-cent cheeseburger today when ordering through the chain's app.
Francis Kinniry, Vanguard senior investment strategist, discusses recent bond fund flows and how he's navigating a changing risk environment with Bloomberg's Romaine Bostick and Guy Johnson on "Bloomberg Markets."
Technological improvements in hydraulic fracking are making 'America Great Again' when it comes to its energy sector. Unconventional oil and gas reserves, which previously were deemed as 'uneconomic to produce', are being exploited on a massive scale. Consequentially, the shale revolution has altered the international energy landscape, which has enabled cooperation between rivals Russia and Saudi Arabia within the OPEC+ framework.
Crude oil prices headed back up Thursday as tensions with Iran escalated, while analysts doubted Saudi Aramco's timeline to return to normal. The attacks over the weekend hit the Abqaiq production facility, the heart of Saudi Arabia's oil sector. It processes 5.7 million barrels of oil a day, or roughly half of the country's production and 5% of global supply.
Gold markets have rallied slightly during the trading session on Thursday as the $1500 level continues to attract a lot of order flow. The large, round, psychologically significant figure has been one that's been worth paying attention to for some time, and of course we also have the 50 day EMA which sits just below it offering support as well. Even further down, the $1450 level would also be supported based upon the ascending triangle that had been formed there, as it would be a retest of major resistance to see if it will act as support.
Solar and wind power provide carbon-free electricity. While lithium-ion batteries have started to meet some of the need for storage, the metals needed to make them are not plentiful enough for large-scale energy hoarding. At Quartz, we've written about companies working on reversible sulfur power-plants, injecting water underground, running “refrigerators on steroids,” and using stacked concrete blocks—all with the purpose of storing excess renewable energy.
Canopy Growth Corp. (CGC), the largest cannabis company in the world by market capitalization, has seen its stock plunge by more than 50% over the last 11 months, dragging down its value from about $20 billion to $9.5 billion today. Now, the Canadian grower faces even more trouble ahead as it racks up an estimated $500 million in losses for the two-year period ending March of 2021, according to Oppenheimer analyst Rupesh Parikh, according to Barron's as outlined in detail below. The woes at Canopy Growth, whose stock initially soared several-fold after it went public, illustrates both the massive operating and market challenges facing cannabis producers, and waning investor optimism for cannabis stocks such as Aurora Cannabis Inc. (ACB), Tilray Inc. (TLRY) and Cronos Group Inc. (CRON).
Although the concept of an ideal retirement portfolio is somewhat relative, many financial planners would define this in terms of what it is able to do. An “ideal” plan in this sense is one that would meet your financial needs until death. The manner in which the actual funds are allocated in order to accomplish this can vary substantially depending on a number of factors. Most ideal portfolios for carrying someone through retirement are going to have at least some measure of the following characteristics. Retirement plans are designed to grow over long periods of time, and growth instruments such as stocks and real estate typically form the nucleus of most successful retirement portfolios, at least when they are in the growth phase.
The Federal Reserve announced Wednesday that its Open Market Committee had voted to cut the federal funds rate by 25 basis points to a range of 1.75% to 2%. The federal funds rate is the benchmark interest rate that banks use when lending to one another. Interest rates on loans and deposits are typically influenced by the Federal Reserve's decisions vis-à-vis the federal funds rate.
In a complaint filed on Wednesday that refers to him as "one of the most, if not the most, famous pilots of all time," the 96-year-old Yeager objected to a June 2017 piece on Airbus' website about making the Airbus Racer a fast and cost-effective way to fly. The piece quoted Guillaume Faury, now Airbus' chief executive officer and at the time Airbus Helicopters' CEO, as saying: "Seventy years ago, Chuck Yeager broke the sound barrier," and Airbus was now "trying to break the cost barrier.
One of Patrick Byrne's last acts at Overstock.com Inc. appears to have forced a short squeeze that warranted the attention of the Securities and Exchange Commission, and the sell-off of his entire stake over the last three days is now raising questions about whether he tried to manipulate the market. Byrne, the controversial founding chief executive of Overstock (OSTK) who has long been at open war with short sellers and Wall Street at large, left the company last month amid some of the strangest circumstances and stories from a tech executive since John McAfee fled Belize. Before he left, though, he installed plans for a “digital dividend” for Overstock shareholders that appears designed to be a shot of pure poison for the people Byrne appears to hate only as much as “the Deep State,” short sellers.
FedEx Corp. shares traded lower Thursday following a report that suggested one of its pilots was detained by police in Southern China. The Wall Street Journal reported Thursday that the pilot, former U.S. Air Force colonel Todd Hohn, was detained last week in the city of Guangzhou. Citing sources, the Journal said Hohn, who lives in Hong Kong, had been flying a FedEx plane as part of his normal route through the company's hub in the Southern China city.
J.P. Morgan's Chris Schott took a close look at what he calls New Pfizer—the company that will be left over after the spinoff of its Upjohn division, which is set to merge with the generic drugmaker (MYL)(ticker: MYL). While the Mylan / Upjohn transaction creates a smaller, innovation-driven biopharma business and increases the company's near-term growth prospects, we feel the company's multiple is ahead of itself with Pfizer RemainCo trading near the top end of the Major Pharma valuation range,” Schott wrote. Schott says that the stock is now trading at 15.6 times the projected 2020 earnings per share of the post-split company.
But as 5G takes the world by storm and ushers in a new technological revolution, there's about to be a WAY bigger opportunity than we could capture by simply buying Nokia stock. The infographic below shows how 5G compares to 4G… how that compared to 3G… and so on. Those Nokia flip-phones had their heyday back at 1G and 2G. Then 3G was what allowed Apple (NASDAQ:AAPL) to take the world by storm with the iPhone.