Yahoo Finance Canada's Alicja Siekierska and strategy expert Mark Satov discuss Brookfield Properties' decision to lay off 20 per cent of its retail unit.
Yahoo Finance Canada's Alicja Siekierska and strategy expert Mark Satov discuss Brookfield Properties' decision to lay off 20 per cent of its retail unit.
NEW YORK — Exxon Mobil reported its third consecutive quarter of losses as the global pandemic curtails travel and cripples global economic activity. The energy giant on Friday posted a $680 million third-quarter loss and revenue tumbled to $46.2 billion, down from $65.05 billion during the same quarter last year. The string of losses and what could be a money-losing year is new territory for Exxon Mobil. “This is a business that’s made a billion dollars a quarter on average from 2011 to 2018 and it’s had a rough go,” said Peter McNally, global sector lead for industrials, materials and energy at Third Bridge, a research firm. Already struggling with weak prices from oversupply, the pandemic is taking a heavy toll on oil and gas companies. The price of U.S. benchmark crude has fallen 40% since the start of the year. The cost for a barrel of oil tumbled 10% just this week as coronavirus infections surged in the U.S. and abroad. "We remain confident in our long-term strategy and the fundamentals of our business, and are taking the necessary actions to preserve value while protecting the balance sheet and dividend,” said Darren Woods, CEO in a prepared statement. “We are on pace to achieve our 2020 cost-reduction targets and are progressing additional savings next year as we manage through this unprecedented down cycle.” The The Irving, Texas, company produced 3.7 million barrels of oil per day in the third quarter, up 1% from the second quarter. But production was down compared to the third quarter of 2019, when Exxon pumped 3.9 million barrels of oil per day. Also on Friday, Chevron reported losses of $207 million after turning in a profit of $2.9 billion last year. It brought in $24 billion in revenues, down from $35 billion during the same period last year. “It’s not going well,” McNally said. “You have to squint at some of the things to find things that are good.” And the third quarter was an improvement compared with the last, when oil futures crashed below zero. Exxon and Chevron lost a combined $9 billion. Oil prices appeared to stabilize this quarter, however, and better conditions enabled Exxon to recover some of its production curtailments, the company said. Demand for refined products also improved, and chemical sales volumes rose as demand for packaging increased and automotive and construction markets recovered, Exxon said. On Thursday Exxon announced 1,900 job cuts in its U.S. workforce and Chevron, after closing on its acquisition of Noble Energy earlier this month, said it would cut a quarter of that company's jobs. Oil demand is expected to fall 8% globally this year, according to the International Energy Agency. While some demand has recovered since oil fell below $0 a barrel in April, countries are again locking down as the coronavirus surges anew across Europe and the U.S. Cathy Bussewitz, The Associated Press
AUSTIN, Texas — Texans have already cast more ballots in the presidential election than they did during all of 2016, an unprecedented surge of early voting in a state that was once the country's most reliably Republican, but may now be drifting toward battleground status. More than 9 million ballots have been cast as of Friday morning in the nation's second most-populous state, exceeding the 8,969,226 cast 2016, according to an Associated Press tally of early votes from data provided by Texas officials. Texas is the first state to hit the milestone. This year's numbers were aided by Democratic activists challenging in court for, and winning, the right to extend early voting by one week amid the coronavirus pandemic. Texas also offers only limited vote-by-mail options when compared to the rest of the country, meaning casting in-person, early ballots is the primary way to vote for people who don't want to line up and do so on Election Day. Voters in Texas do not register by party affiliation, meaning no one can be sure until the ballots are counted whether one party or the other will benefit from the surge in turnout. Will Weissert And Paul J. Weber, The Associated Press
The "Global Baby Monitors Market 2020-2024" report has been added to ResearchAndMarkets.com's offering.
The World Health Organization (WHO) should be quickly overhauled, get more powers to handle pandemics and expose its member states' shortfalls in health emergencies, European Union officials said on Friday. The comments were made at a video conference of EU health ministers that endorsed an EU document on the reform of the U.N. agency which outlines a series of sweeping changes needed to boost WHO's powers and resources, as exclusively reported by Reuters in September. The moves followed criticisms that China and other countries did not share information on the COVID-19 pandemic in a timely fashion at its onset.
FORM 8.3IRISH TAKEOVER PANELDISCLOSURE UNDER RULE 8.3 OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2013DEALINGS BY PERSONS WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE1\. KEY INFORMATIONName of person dealing (Note 1)State Street Global Advisors & Affiliates Company dealt inAon plc Class of relevant security to which the dealings being disclosed relate (Note 2)US$0.01 ordinary shares Date of dealing29th October 2020 2\. INTERESTS AND SHORT POSITIONS(a) Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3) LongShort Number(%)Number(%) (1) Relevant securities8,842,068 3.86547% (2) Derivatives (other than options)N/A (3) Options and agreements to purchase/sellN/A Total8,842,068 3.86547% (b) Interests and short positions in relevant securities of the company, other than the class dealt in (Note 3)Class of relevant security:LongShort Number(%)Number(%) (1) Relevant securitiesN/A (2) Derivatives (other than options)N/A (3) Options and agreements to purchase/sellN/A TotalN/A 3\. DEALINGS (Note 4)(a) Purchases and salesPurchase/saleNumber of relevant securitiesPrice per unit (Note 5) Purchase500186.80 Purchase1,251186.80 Purchase6,180186.80 Purchase63186.80 Purchase540186.80 Purchase210186.80 Sale1,200187.75 Sale23,630186.80 Sale13,287186.80 Sale32186.80 Sale1,500186.80 Transfer In36N/A (b) Derivatives transactions (other than options transactions)Product name, e.g. CFDNature of transaction (Note 6)Number of relevant securities (Note 7)Price per unit (Note 5) N/A (c) Options transactions in respect of existing relevant securities(i) Writing, selling, purchasing or varyingProduct name, e.g. call optionWriting, selling, purchasing varying etc.Number of securities to which the option relates (Note 7)Exercise priceType, e.g. American, European etc.Expiry dateOption money paid/received per unit (Note 5) N/A (ii) ExercisingProduct name, e.g. call optionNumber of securitiesExercise price per unit (Note 5) N/A (d) Other dealings (including transactions in respect of new securities) (Note 4)Nature of transaction (Note 8)DetailsPrice per unit (if applicable) (Note 5) N/A 4\. OTHER INFORMATIONAgreements, arrangements or understandings relating to options or derivativesFull details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated. N/A Is a Supplemental Form 8 attached? (Note 9)NO Date of disclosure30th October 2020 Contact nameLionel Colaco Telephone number 020 33956098 If a connected EFM, name of offeree/offeror with which connectedN/A If a connected EFM, state nature of connection (Note 10)N/A
30 October 2020LSE Code: 3EMSWISDOMTREE MULTI ASSET ISSUER PUBLIC LIMITED COMPANY (a public company incorporated with limited liability in Ireland) WISDOMTREE EMERGING MARKETS 3X DAILY SHORT SECURITIES RESULTS OF MEETING OF THE ETP SECURITYHOLDERSWisdomTree Multi Asset Issuer Public Limited Company (the “Issuer”) wishes to announce that the Extraordinary Resolution regarding the reduction in the principal amount of the WisdomTree Emerging Markets 3x Daily Short Securities (the “Affected Securities”, with ISIN IE00BYTYHM11) from USD 2 to USD 0.2, as set out in a notice to holders of the Affected Securities dated 22 September 2020, was passed at an adjourned meeting of the holders of the Affected Securities held at 11am on 30 October 2020.As a result, the Deed of Amendment has been duly executed by the Issuer, the Manager and the Trustee to put the proposed amendments to the Trust Deed into effect from 30 October 2020.
Kochi (Kerala) [India], October 30 (ANI): Kerala opposition leader Ramesh Chennithala has moved the Kerala High Court against the order of a trial court granting bail to state Ministers EP Jayarajan and KT Jaleel in a case related to the ruckus in the Kerala Assembly in March 2015.
The Mandalorian is back for season 2. The first episode, The Marshal, follows Din Djarin as he seeks to return the Child to its family.
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Beyonce is releasing a new line of Adidas x Ivy Park athleisure and activewear. Here's where to buy it online, including at ASOS and Finish Line.
As rapper Bun B finished his late-night set during a drive-in concert to promote eight 24-hour polling places in and around Houston, he urged fans to go out into the night — and early morning — to vote. Many followed the rapper’s advice as they flocked to the polling sites in Harris County — Texas’ most populous county — to cast their ballots starting late Thursday and into Friday. Harris County officials have launched some innovative efforts to make it easier to vote in the presidential election.
VANCOUVER, British Columbia, Oct. 30, 2020 (GLOBE NEWSWIRE) -- Pender Growth Fund Inc. (TSXV: PTF) (“PGF” or the “Company”) announces today that PGF has entered into a Share Purchase Agreement (the “Purchase Agreement”) with Bhayana Management Ltd. and The Madan and Raksha M. Bhayana Family Foundation (collectively, the “Vendors”) pursuant to which PGF will purchase from the Vendors a total of 6,886,981 Class B Subordinated Voting Shares (the “Subordinated Voting Shares”) in the share capital of INSCAPE Corporation (TSX: INQ) (“Inscape”) at the price of $0.65 per Subordinated Voting Share, representing an aggregate purchase price of $4,476,538, all upon the terms and conditions of the Purchase Agreement (the “Transaction”). Concurrent with the execution of the Purchase Agreement, PGF today purchased 3,541,100 Subordinated Voting Shares (the “First Purchased Shares”) for an aggregate purchase price of $2,301,715 from the Vendors, representing a portion of the total Subordinated Voting Shares to be purchased and of the total consideration to be paid by PGF pursuant to the Transaction. PGF expects to complete the purchase of the remaining 3,345,881 Subordinated Voting Shares in a subsequent closing on or about November 3, 2020.PenderFund Capital Management Ltd. (“PenderFund”) is a joint actor of PGF in connection with the Transaction as a result of PenderFund being the manager of PGF.Prior to entering into the Purchase Agreement, PGF held no Subordinated Voting Shares of Inscape. However, certain other funds managed by PenderFund held in aggregate 1,040,340 Subordinated Voting Shares, representing approximately 9.43% of Inscape’s then-issued and outstanding Subordinated Voting Shares (calculated on a non-diluted basis).Following the purchase of the First Purchased Shares, and including the Subordinated Voting Shares already owned, as of today, PGF and other funds managed by PenderFund hold in aggregate 4,581,440 Subordinated Voting Shares, or approximately 31.86% of the total issued and outstanding Subordinated Voting Shares of Inscape (calculated on a non-diluted basis). Of this amount, PGF holds 3,541,100 Subordinated Voting Shares, or approximately 24.63% of the total issued and outstanding Subordinated Voting Shares of Inscape (calculated on a non-diluted basis).Upon completion of the Transaction, on a pro-forma basis, it is expected that PGF and other funds managed by PenderFund will hold in aggregate 7,927,321 Subordinated Voting Shares, or approximately 55.12% of the total issued and outstanding Subordinated Voting Shares of Inscape (calculated on a non-diluted basis). Of this amount, it is expected that PGF will hold 6,886,981 Subordinated Voting Shares, or approximately 47.89% of the total issued and outstanding Subordinated Voting Shares of Inscape (calculated on a non-diluted basis).The purchase of the 6,886,981 Subordinated Voting Shares of Inscape from the Vendors pursuant to the Transaction is being made by PGF pursuant to the “private agreement exemption” set forth in Item 4.2 of National Instrument 62-104 - Take-Over Bids and Issuer Bids (“NI 62-104”) as such purchase is being made from not more than five persons in aggregate, and the value of the consideration to be paid for each Subordinated Voting Share, including any brokerage fees or commissions, is not greater than 115% of the “market price” of the Subordinated Voting Shares (as determined in accordance with Section 1.11 of NI 62-104) as at the date hereof.PGF and other funds managed by PenderFund are acquiring such Subordinated Voting Shares from the Vendors pursuant to the Transaction for investment purposes. Other than the transactions contemplated by the Purchase Agreement, PGF currently has no other plans or intentions that relate to or would result in any of the actions listed in paragraphs (a) through (k) of Item 5 of the early warning report. Depending on market conditions and other factors, including Inscape’s business and financial condition, PGF and other funds managed by PenderFund may acquire additional Subordinated Voting Shares of Inscape or dispose of some or all of the Subordinated Voting Shares of Inscape that they own at such time. An early warning report will be filed by PGF in accordance with applicable securities laws.PGF’s head office is located at Suite 1830, 1066 W. Hastings Street, Vancouver, British Columbia, V6E 3X2. Inscape’s head office is located at 67 Toll Road Holland Landing, Ontario L9N 1H2.About Pender Growth Fund Inc. Pender Growth Fund Inc. is an investment company with the objective of achieving long-term capital appreciation for its investors. The company utilizes its small capital base and long-term horizon to invest in unique situations; primarily small cap, special situations, and illiquid public and private companies. The company trades on the TSX Venture Exchange under the symbol “PTF”.Please visit www.pendergrowthfund.com.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the purchase of Subordinated Voting Shares by PGF from the Vendors pursuant to the Transaction and PGF’s proposed investment in Inscape and the environment in which PGF operates. Forward-looking statements are identified by words such as “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections and include, without limitation, statements regarding the Company’s decreased portfolio risk and future investment opportunities. The forward-looking statements in this news release are based on certain assumptions; they are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading “Risk Factors” in the Company’s annual information form available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. CONTACT: For further information, please contact: Tony Rautava PenderFund Capital Management Ltd. (604) 653-9625 Toll Free: (866) 377-4743 email@example.com
A number of boats in Seferihisar, Turkey, were washed aground at Teos Marina on October 30 following an earthquake described by the USGS as of magnitude 7.A number of buildings were reported locally as having collapsed.This is developing story. Credit: Deniz Can Ayçiçek via Storyful
Overall, around one in 100 people had Covid-19 over the course of the week to October 23.
(Bloomberg) -- Exxon Mobil Corp. warned it may take up to $30 billion in writedowns on natural gas fields as crashing energy demand and prices spurred a historic losing streak.Exxon is confronting one of its biggest crises since Saudi Arabia began nationalizing its oilfields in the 1970s. If the company takes the full $30 billion impairment, it will be the industry’s worst in more than a decade, according to Bloomberg data.The company lost $680 million, or 15 cents a share, during the third quarter, compared with the 25-cent per-share loss forecast in a Bloomberg survey of analysts. The shares fell 1.3% to $32.53 at 9:34 a.m. in New York and are down more than 50% for the year.That was in stark contrast to Chevron Corp., which disclosed a surprise profit as the company’s oil-production and refining divisions outperformed analysts’ expectations. Chevron’s shares dipped 0.4%. European supermajors Total SE, Royal Dutch Shell Plc and BP Plc also turned in better-than-expected third-quarter performances.Blindsided by the economic fallout from the Covid-19 pandemic, Exxon Chief Executive Officer Darren Woods abruptly ditched an ambitious rebuilding effort and imposed widespread job cuts that are unprecedented in Exxon’s modern history. His top priority has been preserving a dividend that pays shareholders $3.7 billion every three months.The firings and layoffs announced Thursday will affect 14,000 workers in the U.S. and abroad. Pandemic-induced lockdowns have crushed demand for oil, natural gas and chemicals, sending Exxon’s finances into a tailspin. Prior to 2020, the company hadn’t posted a quarterly loss in at least three decades.Woods’s turnaround effort took another hit Friday when the company said an internal assessment is under way to determine the future of its North American gas assets. Much of those fields were added to Exxon’s portfolio a decade ago with the $35 billion takeover of XTO Energy Inc., when American gas prices were almost twice the current level.Oil SandsThe company may incur additional impairments on assets in Canada, where operations include the massive Kearl oil-sands complex in Alberta. Although third-quarter results outperformed expectations, the company is still struggling to generate enough cash to fund dividend payments and capital projects.Exxon’s cash flow has all but evaporated, Woods’s aggressive rebuilding plan has ground to a halt, and criticism is growing over the company’s climate strategy. The most immediate question for investors is how long the $15 billion a year in dividends survive.What Bloomberg Intelligence SaysExxon appears poised to wait for peers to drop, before it takes the necessary step of cutting its dividend. Regardless of a recovery, its capital structure looks unsustainable, as its portfolio requires significant spending to restore returns.\-- Fernando Valle, energy analystRead the full report here.Meanwhile, Chevron and BP eked out profits after slashing costs. Shell exceeded all analysts’ forecasts by posting almost $1 billion in adjusted profit. The Anglo-Dutch giant also dangled the promise of fattening the dividend that’s dwindled to less than half of its year-ago value. also surpassed estimates.Exxon stock has underperformed Chevron but outpaced Shell and BP. The drop has sent Exxon’s dividend yield soaring to more than 10%, a level that indicates investors expect the payout to be cut.To defend the dividend and appease investors, Woods is implementing an extensive internal cost-cutting drive. Exxon cut $10 billion in capital spending in April and said Friday that 2021 spending will fall as much as another $7 billion.As if its financial performance wasn’t enough to worry about, Exxon is under pressure from critics to reset its climate strategy. Its European rivals have all committed to some form of carbon neutrality by mid-century but earlier this month Woods underscored his faith in fossil fuels. Oil and gas will still make up about half the global energy mix in 2040 and provide the most cost-effective pathway to development in poor countries, Woods told employees in the email.(Updates share prices in third, fourth paragraphs)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Lawyers insisted there was ‘a culture of deference’ towards the peer.
The Luther actor was supported by the Prince's Trust in his early days and spoke about his love of drama in a video message.
The "Automotive ACC System Suppliers Strategic Positioning and Leadership Quadrant" report has been added to ResearchAndMarkets.com's offering.
TORONTO — Canada's main stock index fell in early trading amid broad weakness on the Toronto Stock Exchange, while U.S. stock markets also pulled back. The S&P/TSX composite index was down 70.31 points at 15,600.39. In New York, the Dow Jones industrial average was down 77.26 points at 26,581.85. The S&P 500 index was down 8.99 points at 3,301.12, while the Nasdaq composite was down 69.16 points at 11,116.43. The Canadian dollar traded for 75.17 cents US compared with 74.91 cents US on Thursday. The December crude oil contract was down 41 cents at US$35.76 per barrel and the December natural gas contract was down nearly four cents at US$3.27 per mmBTU. The December gold contract was up US$21.00 at US$1,889.00 an ounce and the December copper contract was up less than a penny at US$3.06 a pound. This report by The Canadian Press was first published Oct. 30, 2020. Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X) The Canadian Press
Every election campaign uses more sophisticated tech, but the text message still cuts through.