Finance

Barrick Gold to unveil merger with Randgold Resources, say sources

Barrick Gold to unveil merger with Randgold Resources, say sources The merger will also bring together two of the biggest names in the global gold sector: John Thornton, former president of Goldman Sachs who's been at the helm of Barrick since 2014 , and Mark Bristow, an outspoken South African geologist who founded Randgold in 1995, growing it into a $4.8-billion company and the UK's top gold producer. [Full Article...]

Singapore watchdog fines Grab, Uber US$9.5 million over merger

Singapore watchdog fines Grab, Uber US$9.5 million over merger It reiterated its previous stance that the company's deal with Uber was within its legal rights and that Grab "did not intentionally or negligently breach competition laws". The Competition and Consumer Commission of Singapore (CCCS) has fined Uber S$6.6 million and Grab S$6.4 million, it said on Monday. Despite not operating in the country yet, the company made a statement saying it welcomed th... [Full Article...]

Oil prices surge as Saudis, Russia won't open spigots

Commodity traders Trafigura and Mercuria said they expected Brent crude to climb above $90 by Christmas and to pass $100 early in 2019. "And we expect to go on exporting", Hossein Kazempour Ardebili said after the meeting of the Joint Ministerial Monitoring Committee (JMMC) of members from the Organization of the Petroleum Exporting Countries ( OPEC ) non-cartel oil producers. [Full Article...]

Petrol crosses 90 mark in Mumbai, shoots up in other cities

Petrol crosses 90 mark in Mumbai, shoots up in other cities Similarly, diesel prices also shot up by five paise per litre in Parbhani where it sold at Rs 79.15, said Deshmukh. Since mid-August, the petrol price has risen by ₹ 5.58 a litre and diesel by ₹ 5.3 - the most in any month since the daily price revision was introduced in mid-June past year. [Full Article...]

Could you spend 30 hours in a coffin?

Could you spend 30 hours in a coffin? The Fright Fest 30-Hour Coffin Challenge takes place on Saturday 13 October - and is available to just six lucky winners. Six Flags will provide "six, deluxe, 2' x 7', slight used coffins", as well as "meals, snacks and drinks in bed", as well as a six-minute bathroom break every hour. [Full Article...]

Michael Kors to Acquire Versace, Sources Reveal

Michael Kors to Acquire Versace, Sources Reveal Celebrity shoemaker Jimmy Choo , luxury jeweller Tiffany & Co and U.S. fashion group Michael Kors Holdings were listed as possible buyers. Blackstone also declined comment according to Reuters . Blackstone Group LP owns 20 percent of Versace, which sells leopard-print sweatshirts for 2,100 euros ($2,470) and 995-euro tartan-covered sneakers. [Full Article...]

Iran says oil to rise as Saudi, Russia do 'little and late'

The kingdom does expect to pump more in September and increase again in October, he said, without pledging specific volumes. Benchmark Brent oil reached $80 a barrel this month, prompting Trump to reiterate on Thursday his demand that the Organization of the Petroleum Exporting Countries lower prices. [Full Article...]

Volkswagen's Porsche drops diesel in electric car push

Volkswagen's Porsche drops diesel in electric car push Another reason for the no-diesel vow, he said, is that the company wants to return to its sporty roots. Instead, the automaker will focus on the areas of hybrid technology and electromobility - by 2022, it would have invested more than six billion euros (RM29 billion) in e-mobility. [Full Article...]

Strawberry sabotage crisis spreads to New Zealand

Strawberry sabotage crisis spreads to New Zealand The supermarket says the strawberries came from Western Australia . A contaminated strawberry found in Australia earlier this month. Countdown noted the brand had not been withdrawn from sale in Australia, where there had been no similar reports. [Full Article...]

Oil price up as Trump calls OPEC to lower prices

Ahead of Sunday's meeting, Saudi Energy Minister Khalid al Falih maintained, while speaking to reporters, that the "markets are adequately supplied ", insisting that OPEC does not control oil prices. He also took the opportunity to remind Middle East allies that they would " not be safe for very long " without United States protection. Russian Energy Minister Alexander Novak said no immediate... [Full Article...]

Cryptocurrency XRP is leading price increase as Ripple looks to new launch

Cryptocurrency XRP is leading price increase as Ripple looks to new launch Ripple came into existence with the aim of abolishing this lengthy process as well as high-level transactional value. Many supporters of cryptocoins see them as a replacement for traditional fiat currencies. As such, it is expected the XRP price will continue to trickle down to the $0.1 level or potentially lower before the year 2018 comes to a close. Ripple also built a relationship with com... [Full Article...]

Michelle Guthrie forced out of ABC

Michelle Guthrie forced out of ABC Guthrie was named managing director of the ABC in December 2015 , following her role at Google Asia, where she was managing director of agencies. "As the first female Managing Director of the ABC , I felt a tremendous responsibility and unique privilege to lead Australia's most important cultural institution". [Full Article...]

OPEC, Russia rebuff Trump's call for immediate boost to oil output

Hosted in Algiers, Sunday's meeting was a gathering of the Joint Ministerial Monitoring Committee (JMMC) of members from the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producing countries, including Russian Federation. [Full Article...]

Airport lockdown lifted after breach of safety

Airport lockdown lifted after breach of safety The incident started with the man driving to a curb outside the airport, leaving his auto running, and then hopping a fence and boarding an Airbus 321 American Airlines aircraft sitting in a maintenance facility, Booker said . Sankat, a student at the Florida Institute of Technology (FIT) where he is studying aviation management, is charged with unarmed burglary of an occupied conveyance, trespa... [Full Article...]

Theresa May to say she won't change tack on Brexit

Theresa May to say she won't change tack on Brexit Energy-rich Norway opted against joining the EU in 1994, choosing instead to enter the European Economic Area (EEA) which gives it all the benefits of the single market. Mrs May called on the European Union to provide counter proposals. There are fears that frontier checks would disrupt trade. But while Brexiteer MPs lauded her for standing up to the European Union there were also fresh calls ... [Full Article...]

Tilray stock rise - 'No basis in reality for these valuations'

Tilray stock rise - 'No basis in reality for these valuations' And on Monday, Aurora Cannabis soared more than 15% following a Bloomberg report suggesting the cannabis producer was in talks with Coca-Cola to develop beverages infused with CBD . Tilray cultivates, processes and distributes cannabis extracts and dried flower products to patients, doctors and medical researchers around the world, including Britain. [Full Article...]

Taped sneakers sold by Nordstrom prompt backlash

Taped sneakers sold by Nordstrom prompt backlash Twitter users weren't happy that Golden Goose is charging such a hefty price for the sneakers , with some accusing the brand of "mocking poverty". The design is a riff on the "distressed" fashion trend , but some shoppers think that the intentional wear and tear of a pair of brand-new sneakers is in poor taste, especially when seen in the context of those whose shoes look like that because of... [Full Article...]

Comcast beats Fox in £30 billion battle for Sky

Comcast beats Fox in £30 billion battle for Sky The auction was a dramatic climax to a transatlantic bidding battle waged since February, when Comcast gate-crashed Fox's takeover of Sky. Sky shareholders will have to approve Comcast's offer. Sky's independent directors have recommend Comcast's bid to shareholders, urging them to accept the offer immediately. The regulator, the Takeover Panel, set up the auction to reduce uncertainty for Sky. [Full Article...]

US OIL re-testing 50 MA. Trump's tweet in play?

US OIL re-testing 50 MA. Trump's tweet in play? WTI prices were up Thursday morning on the news that USA crude oil inventories were down 2.1 million barrels last week, the fifth straight week of declines. "Any country that says it can make up for the shortfall in the market is siding with the U.S.", Zanganeh told reporters in Tehran. He said he has written letters to some OPEC and non-OPEC oil ministers expressing his concerns and has compl... [Full Article...]

Uber talks on Deliveroo merger Just Eat's shares

Uber talks on Deliveroo merger Just Eat's shares Shares in Just Eat (LON:JE) have fallen deep into the red in today's session, following a Bloomberg report that Uber was in early talks to buy rival Deliveroo . Uber buying Deliveroo would make flawless sense. Deliveroo is one of Europe's biggest startup success stories: Founded in 2013 by Americans Will Shu and Greg Orlowski, Deliveroo enlists contract employees as couriers, who d... [Full Article...]


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