Author: Press Room
Birdlkportfolio BlackRock shares were on track for their 11th consecutive session of gains on Wednesday, gaining about 11% during that period. The asset management company rose 1.65% to $749.14 by early afternoon, hovering near its July highs. Overall, shares have climbed about 5% since the start of the year. November has been a favorable month for the company with 16 sessions in green and four sessions in red. Looking at Seeking Alpha’s Quant Rating, BlackRock has a Hold rating with a score of 3.42 out of 5. The New York-based company receives an A- for profitability and a B+ for…
Democratic Michigan Gov. Gretchen Whitmer’s sister, Liz Whitmer Gereghty, on Wednesday suspended her campaign for the House in New York’s 17th congressional district.In announcing her exit from the contest as Democrats vie to reclaim the seat won by GOP Rep. Mike Lawler in 2022, Gereghty endorsed former congressman Mondaire Jones. Jones is running a comeback campaign to flip back the once-reliably blue district now considered swing territory in 2024. The Congressional Leadership Fund, a super PAC dedicated to electing Republicans to the House of Representatives, billed Jones as an “extreme progressive” who supports Medicare-for-all and the Green New Deal and…
Charlie MungerGetty Images Charlie Munger, the Vice Chairman of Berkshire Hathaway and Warren Buffett’s business partner, died yesterday, less than a month short of his 100th birthday. He was known for his dry wit and the depth of his wisdom. He was instrumental in Berkshire Hathaway’s success, which has been substantial as the company’s stock return of 19.8% annually from 1965 -2022 trounced the S&P 500’s 9.9% return. Over the years, volumes of Munger’s thoughts have been collected (see here and here), and those in the investment world revere his advice. Like others, Charlie’s sage insights have shaped my worldview.…
UNITED STATES – NOVEMBER 20: President Joe Biden addresses the crowd on the South Lawn of the White … [+] House on Monday, November 20, 2023. Biden sent emails this week to at least 800,000 borrowers congratulating them on receiving student loan forgiveness. (Tom Williams/CQ-Roll Call, Inc via Getty Images)CQ-Roll Call, Inc via Getty Images President Biden sent emails to over 800,000 borrowers this week, congratulating them on receiving student loan forgiveness and inviting them to share their story. “Congratulations – your student loan has been forgiven because of actions my Administration took to make sure you receive the relief…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The US oil refiner Phillips 66 has become the latest target of Elliott Management after the activist investor took a $1bn stake and called for new blood on the company’s board to remedy “underperformance”.In a letter to the board on Wednesday, Paul Singer’s aggressive hedge fund said Phillips 66’s returns had lagged behind peers Valero and Marathon Petroleum and called for the installation of two “highly qualified new directors”.“We find the market’s scepticism to be understandable, and we believe the board must…
© Reuters. By Lucinda Elliott SAO PAULO (Reuters) -Bolivia is set to become a full member of the South American Mercosur trade bloc following a decision on Tuesday by the Brazilian Senate to approve the country’s admission. The vote on the accession of Bolivia to Mercosur is expected to be formally concluded during a regional summit on Dec. 7 in Rio de Janeiro. Brazil President Luiz Inacio Lula da Silva, who holds the temporary presidency of the trade alliance that also includes Argentina, Paraguay and Uruguay, welcomed the expansion on Wednesday in a post on X social media. “Thank you…
© Reuters Cigna, Humana explore healthcare megamerger – WSJ Cigna (NYSE:) and Humana (NYSE:) are in talks to combine in a stock-and-cash deal, the Wall Street Journal reported Wednesday afternoon citing people familiar with the matter. A deal to merge could be finalized by the end of the year, it was added. The news sent shares of both health-insurance companies lower in mid-day trading, with Cigna last trading down 5.9% and Humana down 1.5%. If an agreement is reached, the merged company would rival UnitedHealth Group (NYSE:) and CVS Health (NYSE:) in size. Cigna had revenue of about $181 billion…
© Reuters. Darren Woods, CEO of ExxonMobil, speaks at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S., November 15, 2023. REUTERS/Carlos Barria/File Photo By Sabrina Valle and Sarah McFarlane HOUSTON (Reuters) – Exxon Mobil Corp (NYSE:) Chief Executive Darren Woods is making plans to attend the COP28 climate summit in Dubai next week, two people close to the information said, in what would mark a first for an Exxon CEO, if confirmed. Woods, currently not in the summit program, is expected to advocate for more oil production with less carbon emissions, in what became his mantra…
Bellway p.l.c. goes ex dividend tomorrow
© Reuters. NIGERIA – In a significant move for the Nigerian economy, the Central Bank of Nigeria (CBN) has announced that both old and redesigned Naira notes will indefinitely remain legal tender throughout the country. This decision follows a Supreme Court order and is in line with the CBN Act 2007, specifically Section 20(5), which mandates banks to accept and dispense all denominations of the national currency without discrimination. The CBN’s directive comes with an encouragement for the public to transition towards electronic payments, aiming to reduce the dependency on physical cash. This shift is expected to enhance transactional efficiency…