stayontheblack.com

Business

Yellen Says Trump Should Focus on Long-Term Growth Objectives, Will Help

The Fed signaled in December that it expected to raise rates three times in 2017. Repeating caution that she and other central bank officials have issued in recent months, Yellen said that even though the Fed expects to hike gradually and to keep policy accommodative, getting rates back to normal levels is important.

Business

Cigna Terminates Merger Deal With Anthem, Sues Insurer For $13 Billion

But Anthem and Cigna battled each other over the fate of their planned $48 billion transaction. Each of the companies, Aetna , Humana , Cigna and Anthem, carries a Zacks Rank # 3 (Hold). Court of Appeals for the District of Columbia Circuit. "But", he said, "we would consider the probability and the timing of completing a transaction as an important input to that, considering the environment that we're in today and considering ...

Business

SoftBank to pay $3.3bn for Fortress Investment

In the Fortress deal, each Class A shareholder will receive $8.08 per share, which represents a premium of 38.6% to the closing price of Fortress Class A common stock on Monday. The stock has soared to a new high for the year. Fortress is a prominent private equity firm managing a highly diversified range of assets including private equity , credit and real estate.

Business

Retail Sales Have Grown Sharply Over the Past Year

Sales of electronics were up by 1.6% versus December while those of gasoline advanced 2.3%. Retail sales of petrol service stations, food & beverages, wearing apparel & footwear, watches & jewellery and department stores also decreased between 0.3 per cent and 2.2 per cent during this period.

Business

Brooklyn Bridge Among Thousands Of Structurally Deficient Spans Across US

The information was analyzed by the American Road & Transportation Builders Association. More than one in four bridges (173,919) are at least 50 years old and have never had major reconstruction work, according to the ARTBA analysis . In the District, 3.7 percent of 245 bridges are in need; in Maryland, it's 5.8 percent of 5,321 bridges; in Virginia, it's 6.7 percent of 13,892 bridges.

Business

Judge Denies Tribes' Request to Block DAPL, Legal Options Narrow

Previous court filings by potentially affected tribes had made no mention of the Dakota Access Pipeline potentially compromising their ability to freely practice their religion. Chase Iron Eyes, a member of the Standing Rock Sioux, said in a statement that the tribe is disappointed with the ruling, but not surprised. A lawyer for Dakota Access LLC, the company building the pipeline, offered a new, faster possible timeline for construction to finish.

Business

Cisco Shares Rise as Company Beats Earnings Expectations

The reported EPS for the same quarter previous year was $0.53. The Company now has ROA (Return on Assets) of -19.5 percent, Return on Equity (ROE) of -44.2 Percent and Return on Investment (ROI) of -52% with Gross margin of 0 percent and Operating & Profit margin of 0% and 0% respectively.

Business

Aetna, Humana call off $34 billion deal

The other deal - a combination of Anthem and Cigna - was also blocked by the Justice Department on antitrust grounds, and a different judge upheld that decision over the last few weeks. Aetna said that in mid-March it will redeem for cash $10.2 billion of the remaining debt it had issued to acquire Humana. Judges, clearly, agreed.

Business

Tata Motors' consolidated Q3 net profit plunges

The rupee strengthened about 15 percent against the British pound a year ago, eroding the repatriated earnings from the luxury unit, which contributes about 86 percent of Tata Motors' operating profit. Tata Motors blamed the demand shrinkage on demonetisation. "On a full year basis, we expect sales to be flat", said C Ramakrishnan, chief financial officer, Tata Motors' adding that the company expects better margins in Q4.

Business

Sen. Warner on confirmation of Mnuchin for Treasury

Democrats boycotted the vote in the Senate Finance Committee that sent Mnuchin to the full Senate, forcing Republicans to change committee rules to push his nomination forward. Democratic Sen. Joe Manchin of West Virginia voted for Mnuchin. Also on Monday evening, the Senate confirmed Shulkin unanimously. That vote was unanimous.

Business

Ivanka Trump Now Dropped By Sears, Kmart

Alongside Trump Home products are items unaffiliated with the brand, including a life-size Donald Trump cardboard cutout, framed inauguration day photos and novelty "Dump Trump" toilet paper. None of the items were sold directly in stores. Last week Nordstrom and Neiman Marcus announced they were dropping first daughter Ivanka Trump's eponymous collection.

Business

Gary Rowett speaks with Rangers board over becoming next manager

McLeish, who won the treble among other honours in a five-year spell as Gers manager from 2001 to 2006, is the front runner for the managerial post occupied by Mark Warburton until Friday night. Ex-Rangers star Frank De Boer is another high profile manager who has been linked with a possible move to Scotland and the Dutchman has now gone on to make a huge revelation which is certain to please the club faithful.

Business

Dozens dead as Taiwan tour bus flips over near Taipei

Local TV station TVBS said 16 people were taken to hospital to be treated for injuries. The one-day tour group of local elderly people set off from Taipei on Monday morning for a daytrip to Wuling Farm to see cherry blossom, reported the Chinese-language Apple Daily.

Business

Melissa McCarthy as Spicer, Leslie Jones as Trump and More

She also reads through a list of terror attacks, including one in "Orlanta" and the recent light act of terrorism - Nordstrom dropping Ivanka Trump's clothing line. The real life Mr. Spicer hasn't been so amused of the show's take on President Trump. "In fact, I am wearing one of her bangles right now". After failing to explain what extreme vetting for immigrants entering the country constitutes, a frustrated Spicey once again resorted to props to make his point.

Business

China's kicks off 2017 with above-forecast trade numbers

In the previous month the exports had dropped 6.1 percent. In the USD terms, China's trade balance came in surplus at USD 51.4 billion, increasing from December's surplus of USD 40.8 billion. Now, traders are anticipating more, positive economic data out of China and for that reason have bid the commodity higher, betting that the sell-off was overdone.

Business

Obese Egyptian woman arrives in Mumbai for bariatric surgery

Her family told the doctor that as a child she was diagnosed with elephantiasis, a condition that causes the limbs and other body parts to swell, leaving her nearly immobile. She will undergo initial blood test and body check up today to assess her condition and once her condition stabilises in few days. The bed-ridden 36-year-old Eman Ahmed Abd El Aty was flown in on a chartered plane to Mumbai and driven to Saifee Hospital in a large truck.

Business

Sears to may sell real estate, cut jobs to save $1 billion

In a bid to survive, Sears is taking a sledgehammer to its costs. Despite the stock's big move Friday, shares are down more than 15% this year. Lampert also crowed that the company had "significantly improved" its operating performance in the fourth quarter and "made progress" toward profitability, though comparable store sales in the three months ended January 31 are expected to fall 10.3 percent - 12.3 percent at the 702 Sears stores and 8 percent at the 801 Kmart stores.

Business

Oil prices stable on OPEC-led production cuts, but bloated inventories weigh

Commerzbank highlighted a recent surge in USA crude imports as a reason for doubt, while consultancy Petromatrix said "high compliance from OPEC was expected for the starting months", but more strenuous efforts by Saudi Arabia to protect its market share could be expected.

Business

Oil prices fall on rising U.S. output

April Brent crude LCOJ7, -0.45% on London's ICE Futures exchange fell 45 cents, or 0.8%, to $54.59 a barrel. Oil prices are likely to swing between minor gains and losses in the coming days. Asia-bound crude cargoes from West Africa are also on the rise, and may well reach in February their highest level in at least five and a half years.

Business

Coca-Cola's Quarterly Revenue Beats on Higher N America Demand

On 08 February 2017, The Coca-Cola Company (NYSE:KO) shares moved to $42.02 after starting the day at $41.52. Coca-Cola Company has a 12-month low of $39.88 and a 12-month high of $47.13. The firm owned 19,110 shares of the company's stock after selling 188 shares during the period. The number of shares now owned by investors are 484.34 mln.

Business

Home Loans: Current Mortgage Rates at BoA, Suntrust Feb 9, 2017

The loan package features an April variable of 3.708%, according to today's updated loan information. Multiple benchmark refinance rates sunk lower today. The short term, popular 15 year fixed rate mortgages can be had for 3.710% today and an April of 3.894%. Mortgage rates or interest rates on home loans eased slightly for the week ending February 9, according to mortgage provider Freddie Mac.

Business

Alastair Cook steps down as England Test cricket captain

Cook had been bestowed with the captaincy in the year 2012 and had led the team in 59 tests including the double Ashes win at home and the win over India and South Africa. Alastair Cook is regarded as one of the most prolific players of the country with many laurels to his name. "I'd been to the well a couple of times as England captain and I couldn't go again".

Business

Assocham wants RBI to nudge banks to pass on cuts to customers

Earlier in December, the RBI's Monetary Policy Committee (MPC), during its second bi-monthly monetary policy review - the fifth of the fiscal - kept the repurchase rate, or the short-term lending rate it charges on borrowings by commercial banks, unchanged at 6.25%.

Business

Michael Kors comparable sales fall more than expected

OTR GLobal Upgrades the company's stock to Mixed on 10/17/16 with no specific Price Target. Management blamed a highly promotional environment during the season as the company is struggling with lower mall traffic and demands from retail partners like Macy's to discount its items to bring in more customers and clear inventory.

Business

BP falls short of profit forecasts

BP added that the total bill for the 2010 Deepwater Horizon oil spill in the Gulf of Mexico had surged to 62.6bn U.S. dollars (£50.4bn), with another 625m USA dollar (£504m) charge taken in the fourth quarter. He added: "We start this year with considerable momentum - and a sense of disciplined ambition". BP posted its second annual loss in a row, as weak oil prices continue to hit the oil industry.