Business


IBM to acquire Red Hat in deal valued at $34B IBM to acquire Red Hat in deal valued at $34B
- October 28, 2018

Red Hat, which is publicly traded, has a market cap of $20.5 billion . Following a weekend of rumours, IBM has confirmed that it will acquire enterprise Linux vendor Red Hat, in a US$34 billion cash deal. Since the day we made a decision to bring open source to the enterprise, our mission has remained unchanged. "The next 80 percent is about unlocking real business value and driving growth", she said. (more...)
UK court: Barclays won’t face trial on Qatar deal UK court: Barclays won’t face trial on Qatar deal
- October 28, 2018

The SFO may be able to appeal to the Supreme Court but that option... The Serious Fraud Office (SFO) brought charges against the bank over the 2008 deal, which saved Barclays from having to request a United Kingdom government bailout like its rivals Royal Bank of Scotland and Lloyds. (more...)
New York Attorney General Issues Lawsuit to Exxon Mobile Over Misleading Investors New York Attorney General Issues Lawsuit to Exxon Mobile Over Misleading Investors
- October 28, 2018

The lawsuit , which has not been tested in court, alleges the company told investors it made plans assuming carbon prices as high as $80 a tonne. In this case, the NY AG is focusing on investor fraud, which hinges on the company knowingly misleading investors as to the risks related to climate regulation. (more...)
Mayor of London offered extra £350m to complete Crossrail project Mayor of London offered extra £350m to complete Crossrail project
- October 28, 2018

The Mayor has been given a 350 million pound loan to plug Crossrail's growing financial gap. "As joint sponsors we agreed this incredible project has got to be finished". London will bear any additional costs as a result of the loan "via a financing arrangement", the minister added. This was cut to £14.8 billion in 2010, only to now return to the original figure of £15.9 billion thanks to the "cost overuns". (more...)
Seed funding drops 21% in 2018; deep-tech startups booming: NASSCOM report Seed funding drops 21% in 2018; deep-tech startups booming: NASSCOM report
- October 28, 2018

If India wishes to cement its position as the startup hub, it is important to nurture and sustain its increasing entrepreneurship culture. Speaking on the occasion, Ms Debjani Ghosh , President , NASSCOM , said, "The start-up landscape in the country is becoming the epitome of innovation , with companies bringing out solutions that are aimed at solving locally relevant issues". (more...)
Shopify (SHOP) Stock Price Up 2.8% Shopify (SHOP) Stock Price Up 2.8%
- October 28, 2018

Outstanding shares refer to a company's stock now held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.89 and a quick ratio of 12.89. The Ottawa-based company said it now expects revenue of US$1.05 billion to US$1.06 billion for the full year, up from its earlier guidance of US$1.02 billion to US$1.03 billion, and ahead of ... (more...)
Millennial railcard to be fully rolled out UK News Millennial railcard to be fully rolled out UK News
- October 28, 2018

The cards were first piloted in the East in December previous year. No date has been announced as yet for the release of the railcard, but the Rail Delivery Group (RDG) has said it will be out by the end of 2018. Those taking part in the trial took on average six leisure journeys a month and covered an average of 400 miles. 'More young people can explore Britain for less using our trains and benefit from saving a third on rail travel , making it cheaper to get out and enjoy the seaside ... (more...)
Saudi diplomat says global outcry over Khashoggi murder 'hysterical' Saudi diplomat says global outcry over Khashoggi murder 'hysterical'
- October 28, 2018

Khashoggi, who lived in the United States, was a critic of Crown Prince Mohamed bin Salman, the kingdom's de facto ruler. "From the person who gave the order to the person who carried it out, they must all be brought to account". "What is the link between arms sales and Mr. Khashoggi?" he said, calling it "pure demagoguery to call for a halt" to exports over the killing. Trump told reporters that allowing one month for an investigation, as requested by Riyadh, would be too long. (more...)
'Major step forward': AMP sells life insurance arm in $3.45b deal 'Major step forward': AMP sells life insurance arm in $3.45b deal
- October 28, 2018

Resolution is a fascinating company. It will also sell its Australian and New Zealand life insurance businesses. Resolution Life runs and specialises in managing life insurance businesses, and that means a really deep level of expertise coming to our net business. (more...)
The key indicator our public transport sucks The key indicator our public transport sucks
- October 28, 2018

Millions of people living on the outskirts of Australia's major cities are being left behind by a lack of access to public transport, a damning audit by the country's independent infrastructure adviser reveals. "A quarter of the total population of those cities aren't withing walking distance, that's 15 minutes of frequent public transport", he said. The Mandurah line was given as an example: after opening in 2007, patronage grew above projections and it now added about 20 million passenger ... (more...)
Lloyds Banking Group plc (LYG) Trades at Its 52-Week Low Lloyds Banking Group plc (LYG) Trades at Its 52-Week Low
- October 28, 2018

It's relative volume stands at 1.93. LYG saw its unproductive stir of -5.98% in last week. Net interest margin is a key measure of the profitability of a bank's lending. It's relative volume stands at 1.01. The Company has market Cap of $368.68M. Analyst's mean target price for the company is $3.02 while analysts mean suggestion is 4. (more...)
Google parent Alphabet misses revenue estimates, first time in 2 years Google parent Alphabet misses revenue estimates, first time in 2 years
- October 28, 2018

The stock presently has a consensus rating of "Buy" and a consensus price target of $1,308.81. The stock decreased 2.20% or $24.1 during the last trading session, touching $1071.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,646 shares of company stock valued at $104,260,256. Large investors have recently made changes to their positions in the stock. (more...)
Oil falls on oversupply worries despite Iran sanctions Oil falls on oversupply worries despite Iran sanctions
- October 28, 2018

Indian public sector companies have already placed orders with Iran for crude oil supply during November, a senior government official said on Friday. "The market in the fourth quarter could be shifting towards an oversupply situation as evidenced by rising inventories over the past few weeks", Adeeb Al-Aama told Reuters. (more...)
Shocking adjustment:: Royal Caribbean Cruises Ltd., (NYSE: RCL) Shocking adjustment:: Royal Caribbean Cruises Ltd., (NYSE: RCL)
- October 28, 2018

The stock had previously closed at $114.85. While this information can be of use, most investors will be more concerned with where the shares are headed from here. The PE ratio of 13.41 helps investors explore how much they should pay for a stock based on its current earnings. They partake in earnings conference calls, company sponsored events, and investment conferences. (more...)
Walkout Of Postal Workers In Toronto Impacts Mail Delivery Nationwide Walkout Of Postal Workers In Toronto Impacts Mail Delivery Nationwide
- October 28, 2018

They join their fellow workers in other parts of Canada who have also launched rotating strikes . Anna Beale, the Executive VP of the Calgary Local for the Canadian Union of Postal Workers ( CUPW ) says ideally the strike could be settled by Thursday afternoon. (more...)
United States economic growth slows less than expected in Q3 United States economic growth slows less than expected in Q3
- October 28, 2018

Trump in recent weeks has accelerated his attacks on the Federal Reserve for raising interest rates, contending that the higher rates by slowing the economy will work against his efforts to speed up growth through the $1.5 trillion tax cut package Trump got Congress to pass past year. (more...)
McDonald's bringing back the McRib on Monday McDonald's bringing back the McRib on Monday
- October 28, 2018

By "it", we are of course referring to that sweet, BBQ-slathered McDonald's meat creation known only as the McRib , and by "back", we mean that it's available now at 9,000s Mickey D's locations-for a limited time. "While McDonald's has ushered in many new items this year - such as fresh beef* in our quarter-pound burgers - we know our fans love this limited time classic", said McDonald's Chef Mike Haracz. (more...)
Shaw Communications (SJR) Cut to Hold at Canaccord Genuity
- October 28, 2018

Shaw is traded on the Toronto and NY stock exchanges and is included in the S&P/TSX 60 Index (Symbol: TSX - SJR.B, SJR.PR.A, SJR.PR.B, NYSE - SJR, and TSXV - SJR.A). Several institutional investors have recently added to or reduced their stakes in SJR. Cumberland Partners Ltd acquired a new stake in shares of Shaw Communications in the second quarter valued at $288,000. (more...)
Petrol, diesel prices likely to ease further Petrol, diesel prices likely to ease further
- October 27, 2018

The rates are off their record high of ₹84 per litre for petrol and ₹75.45 a litre for diesel touched on October 4. Although auto buyers find diesel vehicles to be more attractive than the ones running on petrol, yet the price gap between the two automobile fuels have been narrowing down. (more...)
Dyson picks Singapore for electric auto factory Dyson picks Singapore for electric auto factory
- October 27, 2018

Britain's vehicle industry, which employs 814 000 people, relies on manufacturing techniques in which cars are assembled, not forged in a single place. The problem with Dyson openly taking on Tesla and other contemporary manufacturers is that they're riding waves of success from their products that became instant hits - and the automotive landscape isn't necessarily like that. (more...)
Vodafone UK switches on full 5G in Salford Vodafone UK switches on full 5G in Salford
- October 27, 2018

Although early 5G services will use new radio technologies that enable faster speeds of up to 1Gbps, the truly revolutionary aspects such as low latency will have to wait until operators rearchitect their networks using virtualisation and edge computing. (more...)
European Central Bank to curb stimulus amid darker outlook European Central Bank to curb stimulus amid darker outlook
- October 27, 2018

Underlying inflation continues to be muted, trade tensions between the United States and China are starting to take their toll on the Asian economy and export-focused companies in Europe and around the world, and risks of a disorderly Brexit are running high. (more...)
First bio-brick grown from human urine | Cape Argus First bio-brick grown from human urine | Cape Argus
- October 27, 2018

And, unlike kiln-fired bricks that need to be heated to about 2,550 degrees Fahrenheit (1,400 degrees Celsius), they produce no carbon dioxide while they set at room temperature. The urine is collected in fertiliser-producing urinals which use no water - an added benefit for the environment - and doesn't have to be connected to a sewage line to be operational. (more...)
California delays net neutrality law while federal lawsuit plays out California delays net neutrality law while federal lawsuit plays out
- October 27, 2018

The Trump administration and the broadband industry sued California earlier this month to block the law, which was supposed to take effect in January. The state of California on Friday agreed not to enforce its own state net neutrality law until a final court decision on the Trump administration's decision to overturn the 2015 Obama-era open internet rules. (more...)
Australian woman arrested for country's largest ever crypto theft Australian woman arrested for country's largest ever crypto theft
- October 27, 2018

The convict later got access to the old man's cryptocurrency account and transferred around 100,000 XRP into a Chinese cryptocurrency exchange. The NSW police reported that following the extensive investigations, the SFR (strike force Rostrevor) officials, today, conducted a warranted search on a home in Epping area. (more...)

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