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- Bloomberg
Osram Shrugs Off Doubts to Back $4.1 Billion AMS Bid
(Bloomberg) -- Osram Licht AG recommended a 3.7 billion-euro ($4.1 billion) takeover bid from AMS AG over a combined offer from Bain Capital and Carlyle Group LP after AMS sought to address concerns over financing.The financial terms of AMS’s offer eclipse Osram’s lingering concerns about how the takeover
- Bloomberg
Mega Mergers Fail to Lure Funds to India’s State-Run Bank Stocks
(Bloomberg) -- India’s biggest bank overhaul in decades to merge state-run lenders beset with bad loans and low capital hasn’t convinced investors to increase holdings of the shares.Fund managers including Aberdeen Standard Investments Ltd. and JPMorgan Chase & Co. are shying away from increasing their
- Bloomberg
Oil Prices Jump Most on Record After Saudi Arabia Strike
(Bloomberg) -- Oil posted its biggest ever intraday jump to more than $71 a barrel after a strike on a Saudi Arabian oil facility removed about 5% of global supplies, an attack the U.S. has blamed on Iran.In an extraordinary start to trading on Monday, London’s Brent futures leapt almost $12 in the seconds
- The Canadian Press
No Deal: Auto workers strike against GM in contract dispute
DETROIT — More than 49,000 members of the United Auto Workers walked off General Motors factory floors or set up picket lines early Monday as contract talks with the company deteriorated into a strike.Workers shut down 33 manufacturing plants in nine states across the U.S., as well as 22 parts distribution
- Bloomberg
Brexit Bulletin: Over a Lunch of Snails
Brexit is 45 days away.(Bloomberg) -- Sign up here to get the Brexit Bulletin in your inbox every weekday.Today in Brexit: Boris Johnson’s first significant talks with Jean-Claude Juncker could turn frosty, despite his optimistic rhetoric.What’s Happening? U.K. Prime Minister Boris Johnson and his cabinet
- Bloomberg
U.K.-Flagged Tanker Held by Iran to Be Released `in Days': Iran
(Bloomberg) -- Iran plans to release within days a U.K.-flagged tanker it has held since mid-July.The judicial process is almost finalized and the Stena Impero will be freed after bureaucratic procedures are completed, said Abbas Mousavi, spokesman at the foreign ministry in Tehran, on Monday.Iran seized
- The Canadian Press
Amid settlement talks, opioids keep taking a grim toll
As the nation's attorneys general debate a legal settlement with Purdue Pharma, the opioid epidemic associated with its blockbuster painkiller OxyContin rages on in state after state, community after community, killing tens of thousands of people each year with no end in sight.In Pennsylvania'
- Bloomberg
Oil Soars, Gold Gains After Saudi Oil Attacks: Markets Wrap
(Bloomberg) -- Oil surged along with gold and Treasury futures after a strike on the heart of Saudi Arabia’s oil production increased geopolitical risk concerns. U.S. and European equity futures declined, while shares in Asia were mostly lower.Brent soared 11% and West Texas Intermediate added about
- The Canadian Press
After bankruptcy filing, Purdue Pharma may not be off hook
OxyContin maker Purdue Pharma has filed for bankruptcy protection.But that doesn't mean the company or the family that owns it is off the legal hook.States are divided on whether to accept a tentative settlement with the company as part of the bankruptcy.Several of those who have declined it have
- Bloomberg
Gold Rallies on Concern Saudi Attack May Presage Wider Conflict
(Bloomberg) -- Gold and silver rallied after a strike against Saudi Arabian oil facilities raised the possibility of retaliatory U.S. military action in the Middle East, with investors seeking haven assets at the start of a week that’ll also see critical policy decisions from central banks including
- The Canadian Press
India's economy slows, stalling once thriving manufacturing
NEW DELHI — Anuj Kapoor took over his father's booming auto parts business in 2012, hoping to elevate the company from selling to suppliers to selling directly to carmakers.Seven years later, he's had to lay off half his workers as drooping sales caused his profit to plummet by at least 80%.Confidence
- Bloomberg
Speed of Saudi Oil Recovery In Focus After Record Supply Loss
(Bloomberg) -- All eyes are on how fast Saudi Arabia can restore production after this weekend’s devastating strike on key facilities, which knocked out roughly 5% of global supply and triggered a record surge in oil prices.Significant volumes could come back within days, people familiar with the matter
- The Canadian Press
Volkswagen to pay up to $87 million in Australia for scandal
CANBERRA, Australia — Volkswagen has agreed to pay up to 127 million Australian dollars ($87 million) to settle an Australian class action stemming from the 2015 diesel emissions scandal, the German automaker and a lawyer said Monday.The settlement was announced in the Federal Court in Sydney by law
- Bloomberg
Oil-Price Shock Couldn’t Come at Worse Time for World Economy
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The record oil-price surge after a strike on a Saudi Arabian oil facility couldn’t come at a worse time for a world economy already in the grip of a deepening downturn.While the severity
- Bloomberg
EM Review: Trade Truce Hopes, ECB Bazooka Fueled Risk Appetite
(Bloomberg) -- Emerging-market currencies posted the longest streak of gains since January 2018 last week and stocks rose to a six-week high as global monetary easing and prospects of a trade truce -- even if a temporary one -- made investors more comfortable with riskier assets. As the European Central
- Bloomberg
China’s Economy Slows Again, Adding Pressure for Policy Response
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. China’s slowdown is deepening just as risks for the global economy mount, piling pressure on the authorities to do more to support growth.Industrial output rose 4.4% from a year earlier in
- Bloomberg
OxyContin Maker Purdue Pharma Files for Bankruptcy to Wipe Out 2,000 Lawsuits
(Bloomberg) -- Purdue Pharma LP filed for bankruptcy with a more than $10 billion plan to settle claims that it fueled the U.S. opioid epidemic by illegally pushing sales of its addictive OxyContin painkiller.The Chapter 11 filing on Sunday in White Plains, New York, is designed to short-circuit more
- Bloomberg
Emerging-Market Rally May Hinge on Stimulus. Just Not Too Much
(Bloomberg) -- Emerging markets will again be looking to central banks to provide the next leg-up in a rally that’s making it the best September so far for stocks and currencies since 2013.That’s assuming there’s no conflagration between the U.S and China over trade, and no panic over the slump in Saudi
- The Canadian Press
How the Associated Press collected information on CBD vapes
The cannabis extract CBD is marketed as a healing remedy that, unlike its cousin marijuana, doesn't get users high. As demand increases, however, some vapes marketed as delivering an inhalable form of CBD in fact contain dangerous, illegal synthetic marijuana.As part of an investigation into CBD
- Bloomberg
U.S. to Promise to Not Hike Tariffs on Japan Autos, Report Says
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Japan and the U.S. are working toward a joint leaders’ statement that would include a U.S. promise not to hike tariffs or introduce quotas on Japanese cars, the Tokyo Shimbun newspaper said
- The Canadian Press
Vapes spiked with illegal drugs show dark side of CBD craze
Jay Jenkins says he hesitated when a buddy suggested they vape CBD."It'll relax you," the friend assured.The vapour that Jenkins inhaled didn't relax him. After two puffs, he ended up in a coma.That's because what he was vaping didn't have any CBD, the suddenly popular compound
- Bloomberg
Hong Kong Exchange LSE Bid Hit by Further Setback as China Balks
(Bloomberg) -- The Hong Kong bourse’s unsolicited takeover bid for the London Stock Exchange Group Plc was greeted with a scathing rejection and the exchange suffered a further humiliation when China praised the rebuff as well.The official People’s Daily wrote Saturday that there are “persistent worries
- Yahoo Finance
Abbott, Sanofi to help diabetes patients with technology team-up
Abbott and Sanofi announce a new collaboration to help diabetes patients.
- Bloomberg
Attacks on Saudi Oil Plants Risk Lowering Aramco IPO Valuation
(Bloomberg) -- As bankers discussed Saudi Aramco’s initial public offering at the Ritz Carlton hotel in Dubai last week, a drone attack was being planned to hit the heart of its operations over the weekend. It caused Saudi Arabia to halve its oil output and may cut the valuation of Aramco’s milestone
- Bloomberg
Oil Spike Sends India Assets Lower as Inflation Concerns Revive
(Bloomberg) -- India’s rupee halted a seven-day rally and bonds declined after a drone attack on Saudi Arabia’s oil facilities sent global crude prices soaring by the most on record.The currency fell 0.8% to 71.48 per dollar and the benchmark 2029 bond yields rose six basis points to 6.70%. The S&P BSE
