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Media Digest

WSJ

– Jarden Corp on Monday said it would merge with Newell Rubbermaid Inc in a $15.4 billion deal, combining names like Newell’s Sharpie markers and Baby Jogger strollers, and Jarden’s Rawlings baseball gloves and Mr. Coffee machines. (http://on.wsj.com/1RjResU)

– Investors retreated from the U.S. junk-bond market for the third straight trading day and stocks of large asset managers were hit by heavy selling, a sign that the deepest turmoil in financial markets since summer is intensifying. (http://on.wsj.com/1SYaytl)

– The U.S. Department of Homeland Security is working on a plan to expand scrutiny of social media posts as part of its visa application process before certain people are allowed to enter the country, a person familiar with the matter said. (http://on.wsj.com/1Qjy46w)

– Image bookmarking service Pinterest Inc is scaling back the breadth of its advertising ambitions, focusing more on attracting dollars from retailers and consumer packaged-goods companies while de-emphasizing other marketing categories. (http://on.wsj.com/1lJZSnM)

FT

Samsung Electronics is taking its fight over design patents with Apple to the U.S. Supreme Court, where more than half a billion dollars is at stake on the ongoing fight.

Brussels has widened its probe into alleged tax deals with Apple. EU authorities have sent lengthy questionnaire sets to Ireland, which points to the probe lengthening well beyond the 2016 elections.

Charif Souki’s Cheniere Energy will soon start exporting liquefied natural gas from the southern states of the U.S. to customers in Europe and Asia. Yet over the weekend Souki was ousted as chief executive, following a clash with the board. His ouster is a sign of the tensions that have emerged in the emerging U.S. LNG export industry

Plastic packaging producer RPC said it will buy Global Closure Systems in a deal that values the company at about 650 million euros. ($715.07 million)

 

NYT

– The Hudson’s Bay Company, which owns Saks Fifth Avenue, is in advanced talks to buy the fashion flash-sale website, Gilt Groupe, for about $250 million, a person briefed on the matter said on Monday. That is down significantly from the $1 billion valuation that Gilt fetched more than three years ago.(http://nyti.ms/1TMlNVK)

– On Monday, Third Avenue Management said that its chief executive, David M. Barse, a bankruptcy lawyer who had been instrumental in establishing the credit fund, would be leaving the firm, bringing an abrupt end to a 24-year career at the firm.(http://nyti.ms/1Nmj9EA)

– The New York City public advocate has asked federal regulators to investigate whether the gun manufacturer Smith & Wesson Holding Corp had made adequate disclosures in its financial statements about how often its products are involved in crimes. (http://nyti.ms/1I5WSw2)

– The Federal Aviation Administration on Monday announced new rules that will require nearly all owners of remote-controlled recreational drones to register the machines in a national database, an attempt by the agency to address safety fears. Drone owners will be required to submit their names, home addresses and email addresses to the F.A.A., disclosures meant to encourage users to be more responsible, officials said. (http://nyti.ms/1QhMhRw)

– Samsung Electronics Co Ltd has filed an appeal to the Supreme Court, arguing that the legal framework for design patents is an issue larger than its dispute with Apple Inc. (http://nyti.ms/1IRjkZO)

 

Canada

THE GLOBE AND MAIL

** Encana Corp cut its dividend by 79 percent and slashed its 2016 budget by one-quarter, stepping up efforts to conserve cash as oil prices plumbed multi-year lows. Calgary-based Encana chopped its annual dividend to 6 cents per share. (http://bit.ly/1NmMz5z)

** Major landlords of insolvent Target Canada are pushing the retailer to disclose details of a C$132 million ($96.5 million) settlement with its largest landlord, RioCan Real Estate Investment Trust, in exchange for other concessions. (http://bit.ly/1O27vft)

** Some Ontario grocers, including Loblaw Cos Ltd, will start stocking beer on their shelves on Tuesday as the province loosens its ban on supermarkets selling alcoholic drinks. Still, other retailers that got the green light to sell six-packs of beer will not have the approvals they need by Tuesday. (http://bit.ly/1TMMJER)

NATIONAL POST

** Canada’s new finance minister, Bill Morneau, gave his first public speech Monday, outlining how his government plans to kickstart a sluggish Canadian economy. Speaking to business professionals at a Toronto Region Board of Trade luncheon, Morneau focused on moving away from a promise to keep annual deficits under C$10 billion ($7.3 billion), instead putting emphasis on lowering Canada’s debt-to-GDP ratio. (http://bit.ly/1J8Gaa0)

** Days after furious Toronto taxi drivers snarled traffic to protest against Uber Technologies Inc, a Canadian company is launching a new app that aims to give cabbies access to the same technology that’s helped make Uber so popular. Beginning Monday, The Ride app will allow people in 35 Canadian cities and towns to e-hail a cab.(http://bit.ly/1J8Gmq3)

** The Toronto Transit Commission called its lawyers Monday to figure out whether Uber’s new shuttle service threatens the TTC’s legally mandated monopoly in the city. “(The City of Toronto Act) is very specific,” TTC CEO Andy Byford said. “The TTC and only the TTC can run mass transit in this city.” (http://bit.ly/1J8GA0h)

 

Britain

The Times

Sir Hector Sants, the former chief executive of the Financial Services Authority, was criticised by an official investigator yesterday for failing to take action against Andy Hornby over the collapse of HBOS Plc. (http://thetim.es/1Rl9jXm)

Royal Dutch Shell Plc announced plans to cut a further 2,800 jobs as the oil major’s increasingly contentious 36 billion pounds ($54.55 billion) takeover of BG Group Plc received clearance from the Chinese competition authorities. (http://thetim.es/1Rl9phG)

The Guardian

Commodities trader Trafigura is to pay $775 million in share-based bonuses to 600 staff after it banked bumper profits from oil trading in turbulent markets that have seen the price of crude approach lows not seen since before the financial crisis. (http://bit.ly/1Rl9CBx)

Fitch, which cut its rating on the United Kingdom to a notch below the top AAA level in 2013, said on Monday a vote for Brexit would be “moderately credit negative” for the UK, putting at risk its medium-term growth and investment prospects, its external position, and the future of Scotland within it. (http://bit.ly/1Rl9EcR)

The Telegraph

Opec will be forced to call an emergency meeting within weeks to stabilize the market if crude prices fail to rebound after crashing to seven-year lows of $35 a barrel, two of the oil cartel’s member states have warned. (http://bit.ly/1Rl9IsY)

Yahoo Inc is facing pressure from its shareholders SpringOwl Asset Management and Canyon Capital Advisors to pursue other alternatives besides a complex spin-off of its internet operations while Chief Executive Officer Marissa Mayer struggles to revive the company’s revenue growth. (http://bit.ly/1Rlaoi1)

Sky News

Amazon.com Inc’s UK website appears to have stopped selling hoverboards pending safety reviews amid fears some models could explode or catch fire. (http://bit.ly/1RlardM)

Arnaud de Puyfontaine, the chief executive of Universal Music’s parent company, Vivendi, is to join Gloo Networks as it chairman, Sky News understands. (http://bit.ly/1MdIcFZ)

The Independent

China’s eleventh richest man, Guo Guangchang, attended a company meeting in Shanghai on Monday, his first public reappearance since he was detained by Chinese authorities. Guangchang was reportedly missing since last Thursday. (http://ind.pn/1RlaB4T)

The Advertising Standards Authority is examining complaints that drug firm Reckitt Benckiser Group Plc, makers of Nurofen, is misleading consumers with unfounded claims for its pain-relief products. (http://ind.pn/1RlaIxi)

 

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