Financial News
Noble Group warns of $1 billion loss; to sell U.S. business to VitolExternal Link

Singapore commodities trader Noble Group Ltd. warned Monday it expects to report total net loss of $1.1 billion to $1.25 billion for the July to September period due to non-cash losses from asset disposals. The company said separately it plans to sell its U.S. oil-liquids business to Vitol Holding B.V. for $582 million and will use the proceeds to reduce its debt. Shares in Noble fell 6.6% after the news.

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Mon, 23 Oct 2017 08:33:14 GMT
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Cisco reportedly close to acquiring BroadsoftExternal Link

Cisco Systems Inc. is nearing a deal to acquire telecommunications-focused software company Broadsoft Inc. , according to a Sunday report. Bloomberg News reported, based on anonymous sources, that a deal could be announced as early as Monday. Bloomberg did not report a projected price tag; Broadsoft ended Friday trading with a market capitalization of $1.67 billion, according to FactSet. Cisco has been acquiring software companies in hopes of boosting subscription-based revenues as growth in its core networking revenue has slowed. The company acquired startup Appdynamics earlier this year for $3.7 billion, and said Thursday's announced deal for Perspica was the 200th acquisition in the history of the acquisitive company.

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Sun, 22 Oct 2017 22:52:27 GMT
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Deadly typhoon barrels toward Japan on election dayExternal Link

A powerful typhoon was expected to make landfall in Japan overnight Sunday, triggering a warning for tens of thousands to evacuate, according to media reports. The Category 4 storm was south of Japan, moving northeast, and has already killed two and injured many more, according to Reuters, citing the Japan Meteorological Agency and Kyodo news agency. The storm is expected to weaken to a Category 2 when it lands near Tokyo early Monday, the report said. See also: Japan’s Abe set for landslide win in Sunday’s parliamentary elections, polls show

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Sun, 22 Oct 2017 17:53:58 GMT
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Stocks close at records on tax cut hopesExternal Link

U.S. benchmark stock indexes all rose on Friday to close at record levels after the Senate adopted a federal budget for next year, a key step on the road to tax cuts. The Dow Jones Industrial Average advanced 164 points to 23326, and was up 2.0% for the week. The Nasdaq Composite Index gained 24 points at 6629. The S&P 500 was up 13 points to 2575, and 0.9% for the week. The Dow and the S&P 500 close out their sixth straight weekly gain, while the Nasdaq notched its fourth straight positive week. This is the longest stretch of weekly gains for the Dow since a seven-week rally that ended in December.

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Fri, 20 Oct 2017 20:02:46 GMT
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Oil up for the session, little changed for the weekExternal Link

Oil settled modestly higher on Friday to end little changed for the week. Prices found some support from data showing a third weekly decline in the number of active U.S. oil rigs. November West Texas Intermediate crude , which expired at the settlement, rose 18 cents, or 0.4%, to finish at $51.47 a barrel on the New York Mercantile Exchange. The contract ended about 2 cents higher for the week. December WTI crude , the new front-month contract, added 33 cents, or 0.6%, at $51.84.

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Fri, 20 Oct 2017 18:47:00 GMT
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