Unilever shares soared this morning after food conglomerate Kraft-Heinz, backed by Warren Buffett and Brazil's 3G, confirmed it made a £112bn takeover offer for Unilever, leading to a 11% surge in the shares of the London-listed Anglo-Dutch conglomerate, the biggest one day surge since 1987. Shares of Kraft Heinz rose over 4% premarket in New York.
In a fiery speech delivered in London aimed to show U.K. Prime Minister Theresa May that she won’t get everything her own way, former British Prime Minister Tony Blair Tony Blair urged opponents of Brexit to “rise up” and fight to change the British people’s minds about leaving the European Union.
Finally some good news for active managers. After one year of consecutive outflows, last week saw the first inflows into long-only equity mutual funds going back to last February, as according to BofA there finally was a $0.5 billion cash inflow, "a sign of rising investor confidence & broadening participation in equity rally."
S&P equity futures followed Asian and European stocks lower, driven by weakness in Franch and Italian markets, as French political concerns returned; the pound tumbled after UK monthly retail sales unexpectedly dropped pushing the dollar higher and Euro lower.
In a move that is sure to unleash a fresh firestorm of accusations that Russia is interfering in the upcoming French elections, Wikileaks has has released three classified CIA "tasking orders" revealing details of a seven-month long campaign by the agency to intervene in the 2012 French presidential election.
Robert Harward, Donald Trump's pick to replace Mike Flynn, is said to have turned down Trump's offer to become the President's new National Security Advisor. “Harward is conflicted between the call of duty and the obvious dysfunctionality."
Yesterday it was widely reported in the business press that Mary Jo White is returning to her former law firm as a partner representing clients who face government investigations. This news is highly significant because it would appear that the U.S. Senate was seriously misled by White’s ethics letter in its deliberations to confirm her as the top cop of Wall Street.
The rise of fake news is complex and very difficult to untangle. However, the fact is that established news outlets aren’t doing themselves any favors. If people feel like they can’t trust the Washington Post or other such sources, then it should be no surprise that they are turning to the power of “word of mouth” from their peers more often – no matter how fallible this might be.
The tawdry Michael Flynn soap opera boils down to the CIA hemorrhaging leaks to the company town newspaper, leading to the desired endgame: a resounding victory for hardcore neocon/neoliberalcon US Deep State factions in one particular battle. But the war is not over; in fact it’s just beginning.
President Trump blasted the "out of control" dishonesty of the mainstream media during a Thursday press conference, accusing reporters of distorting facts to help special interests: "I watch CNN. It's so much anger and hatred and just the hatred. I don't watch it anymore"
While the market itself has exhibited the exuberance we have all seen before (and never seem capable of learning from), BNP has quantified this love-panic relationship (and the news is not great for the bulls). When in 'love' mode, the average drop in stocks has been 12% in the next six months...
A year after the largest methane leak in U.S. history was sealed in Porter Ranch, California, residents are continuing to experience significant adverse health consequences. As SoCalGas - the company responsible for the blowout - uses fabricated gas shortages to justify reopening the Aliso Canyon gas storage facility, which has been shut down indefinitely since the leak occurred, a local doctor is now speaking out.
American farmers are making no money and are only managing to barely stay afloat by adding a massive amount of debt and slashing capital expenditures...yet John Deere's stock continues to soar to all new highs with each passing day...so which is right?
Samsung chief Jay Y. Lee was formally arrested on allegations of bribery, perjury and embezzlement, "an extraordinary step that jeopardizes the executive’s ascent to the top role at the world’s biggest smartphone maker and the nation’s most powerful company."