|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||52.01 - 52.59|
|52 Week Range||42.28 - 56.27|
|PE Ratio (TTM)||16.36|
|Earnings Date||Oct 26, 2018|
|Forward Dividend & Yield||2.56 (4.80%)|
|1y Target Est||67.59|
A.P. Moeller-Maersk A/S said it will seek a spinoff next year of its offshore drilling unit, which it has been trying to sell as it battles a painful slump in its core shipping business. The industry as a whole is contending with rising fuel costs and depressed freight rates. Maersk cut its full-year earnings forecast last week, with core profit expected to come in at $3.5 billion to $4.2 billion, compared with previous guidance of $4 billion to $5 billion.
Of the ten analysts covering BP (BP), four (40%) recommend “buy” or “strong buy,” five (50%) recommend “hold,” and one (10%) recommends “sell.” Jeffries recently cut its target price for BP to $48.60. However, Goldman Sachs has added BP stock to its Conviction List. Analysts’ mean target price for BP is $49, implying an 18% upside.
Rudy Giuliani. He’s back again. Like a bad smell. A bad penny. The boulder has rolled from his political tomb and — like Lazarus wrapped in his graveclothes — he has risen. Again. And yet. What else should ...
A.P. Moller-Maersk A/S has decided to list its drilling unit separately, marking its latest step toward a complete exit from the energy industry. Copenhagen-based Maersk, which is working on turning itself into a pure transport company, said the decision will take effect next year and will offer shareholders “the possibility to participate in the value creation opportunity of a globally leading pure play offshore drilling company with long-term development prospects,” according to a statement on Friday. As part of the preparation, debt financing of $1.5 billion from a consortium of international banks has been secured for Maersk Drilling “to ensure a strong capital structure after a listing,” it said.
Online discounting, the World Cup and good weather helped UK retailers to bounce back by more than expected in July after a decline in sales volumes in June, the Office for National Statistics said on Thursday. Retail sales rose by 0.7 per cent during the month, compared to a decline of 0.5 per cent the previous month. Analysts had expected an increase of 0.2 per cent.
The metal’s fall is part of a broader slump as investors shy away from emerging market shares and currencies. Investors have pulled $3.9bn worth of gold from exchange traded funds since the beginning of June, according to Reuters. Total gold demand in the first half of the year hit its lowest level since 2009, according to the World Gold Council.
Europe led a global retreat from the US Treasury market in June, as the region’s central bank plots a slow retreat away from it bond buying program. The UK sold the most, shedding $21.1bn in Treasuries over one year in maturity, according to data from the US Treasury on Wednesday.
Turkey cracked down on short selling of the lira on Wednesday, helping the currency recover against the dollar as Ankara declared that Qatar had offered it billions of dollars of support. The lira rose on the day by about 5 per cent to TL6.04 against the dollar in afternoon trading after Turkish authorities took measures to curb banks’ ability to supply the currency to foreign financial institutions. At the beginning of the week, the lira had fallen to an all-time intraday low of TL7.2149.
The 77-year-old singer had sued the BBC for filming a 2014 raid on his home in Berkshire, which was part of a probe by South Yorkshire Police into allegations of child sexual abuse. The police later told Sir Cliff that the allegations were false, prompting him to say the broadcaster had invaded his privacy and “shattered” his private life.
Ankara declared that Qatar had offered it billions of dollars of support as it seeks to emerge from a crisis affecting the Turkish lira. Ibrahim Kalin, spokesman for president Recep Tayyip Erdogan, said on Twitter that Qatar, the world’s richest nation in per capita terms and a strong ally of Turkey, had pledged $15bn in direct investment in the country. Another Turkish official this said would ”provide rapid funds to the financial markets and the banks”.
The UK’s jobless rate has fallen to a four-decade low, official figures published on Tuesday said. Only 4 per cent of those active in the labour market were out of work during the three months to the end ...
Malaysian oil and gas company Petroliam Nasional Bhd (Petronas) said on Monday it has acquired a 30 percent stake in Senegal's Rufisque Offshore Profond block, its first project in the West African nation. Oil major Total will maintain operatorship of the block with a 60 percent ownership, Petronas said in a statement.
Aug 13 (Reuters) - Total: * A spokeswoman for Total said on Monday that China's state-owned CNPC had the right to take Total's stake in the Iranian South Pars gas field project, but added that Total had ...
State-owned CNPC, which joined a consortium with Total and Iran’s Petropars Ltd. in 2016 to develop Phase 11 of the South Pars Gas field, is set to increase its stake in the project from the current 30 percent. CNPC will become the lead operating partner, the state-run Islamic Republic News Agency reported, citing Mohammad Mostafavi, National Iranian Oil Co.’s investments and business head.
As the UK economy made a slow start to 2018, Mark Carney, the governor of the Bank of England, coined a new sound bite. Explaining why policymakers at the central bank were relaxed about first-quarter gross domestic product growth of 0.2 per cent, he said the weakness reflected “the weather and not the climate”. On Friday, the Office for National Statistics confirmed his view as GDP growth for the second quarter bounced back to 0.4 per cent.
Russia's Novatek has launched a second liquefied natural gas (LNG) production train at its plant on the Yamal peninsula ahead of schedule, as Moscow is trying to turn into a significant global player on the super cooled gas market. Novatek, which controls Yamal LNG in which France's Total along with China's CNPC and the Silk Road Fund are minority shareholders, said that the launch was made six months ahead of its initial schedule.
U.S. liquefied natural gas company Tellurian Inc said on Wednesday it remains on track to begin construction of its Driftwood LNG export terminal in Louisiana in the first half of 2019 and begin operations in 2023. Tellurian is on schedule to announce its partners in the $27.5 billion project in the third or fourth quarter, Tellurian President and CEO Meg Gentle said in the company's second-quarter earnings release. Driftwood is one of more than two dozen LNG export projects under development in the United States and seeking customers so they can start construction and enter service in the next decade.
Yesterday, the SEC delayed its decision on a new bitcoin exchange traded fund, paradoxically named SolidX bitcoin, after reviewing a rule change by the Chicago Board Options Exchange which would allow the ETF to list. The ETF, much like the Winklevii's failed fund of a few months back, plans to hold bitcoin and mirror its price action.
Although there wasn't much news behind the stock's dramatic price move, the excitement about a big new shareholder is ebbing
Non-food sales dropped 1 per cent in July compared to last year, according to the figures from BRC and the consultancy KPMG, leaving total retail sales only 1.6 per cent higher than a year earlier. This was despite a 4.5 per cent year-on-year increase in food and drink spending, making this year the strongest July for grocers in five years, barring Easter-related distortions, the BRC said.
The question often fired at US fund managers — “Where are the customers’ yachts?” — ricochets off Gerald Beeson, a top executive of Citadel, the Chicago-based hedge fund. Investment managers often command vast salaries that appear wildly unfair to the public, with hedge fund managers gaining notoriety because of the mismatch between high fees and poor performance. Mr Beeson’s pay as chief operating officer of Citadel is unknown and the hedge fund, unsurprisingly, refuses to disclose details to FTfm.
“Using credit cards did not feel like spending money, and the debt grew and grew,” said the 26-year-old, whose starting salary of Rmb3,000 ($470) a month could not cover rent and the consumption habits he called “irrational”, such as buying the latest smartphone. To cover repayments and keep spending, Mr Wang took on more debt — borrowing Rmb60,000 over four credit cards — before turning to online lenders for a further Rmb70,000.
In such scenarios, algorithms in smart appliances automatically respond to price drops on wholesale spot markets caused by higher supplies of wind and solar power, saving households money and balancing the electricity market. This may be many years away, but it is the future envisioned by the European Union, which wants to make the electricity system more efficient as the continent switches from predictable fossil-fuel power generation to intermittent renewables. Most utilities have long offered cheaper night-time tariffs, but new EU rules expected in 2020 will require them to provide more flexible options that encourage customers to use power during sunny or windy periods, at varied times of day or when businesses are shut at weekends.