FINANCIAL NEWS

Debt to the Penny for 01/17/2018

US TREASURY DEBT DAY-TO-DAY - Thu, 01/18/2018 - 22:15
Debt Held by the Public: 14,812,558,278,590.67
Intragovernmental Holdings: 5,680,381,041,733.37
Total Public Debt Outstanding: 20,492,939,320,324.04
Categories: FINANCIAL NEWS

CNB Bank Shares adds scale in central Illinois with Jacksonville Savings deal

AMERICAN BANKER - Thu, 01/18/2018 - 22:04
The company will pay $62 million in cash for a bank with four branches and $337 million in assets.
Categories: FINANCIAL NEWS

Sunken tanker off China leaks 100 sq km of oil slicks

FINANCIAL TIMES - Thu, 01/18/2018 - 22:00
Beijing sends robots to plug holes in Iranian ship’s hull and limit environmental damage
Categories: FINANCIAL NEWS

Bankruptcy Judge Rules Against Settlement Triggering GM Payout

WALL STREET JOURNAL - US. BUSINESS NEWS - Thu, 01/18/2018 - 21:49
General Motors avoided a potential $1 billion-plus stock payout to address claims stemming from the auto giant’s ignition-switch crisis after a judge found a settlement between plaintiffs and a trust for the company’s bankruptcy estate unenforceable.
Categories: FINANCIAL NEWS

HSBC to pay $100M to end U.S. currency-rigging probe

AMERICAN BANKER - Thu, 01/18/2018 - 21:48
HSBC has agreed to pay $100 million in penalties to resolve a Justice Department investigation into the rigging of currency rates, according to a person familiar with the matter.
Categories: FINANCIAL NEWS

Bank of the Ozarks defends its aggressive CRE strategy — again

AMERICAN BANKER - Thu, 01/18/2018 - 21:48
The Arkansas company has spent two years trying to reassure nervous investors and analysts that it can rapidly book real estate loans using conservative practices.
Categories: FINANCIAL NEWS

Sallie Mae to pump tax savings into personal loans, credit cards

AMERICAN BANKER - Thu, 01/18/2018 - 21:33
The nation's largest private student lender plans to use $30 million of its anticipated tax-cut windfall to speed up its diversification plan and strengthen its digital capabilities.
Categories: FINANCIAL NEWS

CFPB signals shift by dropping payday lender lawsuit

AMERICAN BANKER - Thu, 01/18/2018 - 21:33
The agency had accused the lenders of deceiving consumers and failing to disclose the true cost of the loans, which carried interest rates as high as 950% a year.
Categories: FINANCIAL NEWS

Tax law gives unexpected break to farmers who sell to co-ops

AP Business - Thu, 01/18/2018 - 21:13
MINNEAPOLIS (AP) -- Key senators and farm groups are trying to fix a provision in the federal tax overhaul that gave an unexpected tax break to farmers who sell their crops to cooperatives rather than regular companies....
Categories: FINANCIAL NEWS

Amazon's potential HQ2 sites leaves many cities disappointed

AP Business - Thu, 01/18/2018 - 21:11
Amazon's move to whittle its list for a second headquarters leaves more than 200 municipalities disappointed. Here are statements from some of the places that didn't make the tech giant's cut to 20 contenders:...
Categories: FINANCIAL NEWS

Tax law gives unexpected break to farmers who sell to co-ops

AP Business - Thu, 01/18/2018 - 21:05
MINNEAPOLIS (AP) -- Key senators and farm groups are trying to fix a provision in the federal tax overhaul that gave an unexpected tax break to farmers who sell their crops to cooperatives rather than regular companies....
Categories: FINANCIAL NEWS

UK to boost French border but May, Macron disagree on Brexit

AP Business - Thu, 01/18/2018 - 21:01
CAMBERLEY, England (AP) -- The leaders of Britain and France met Thursday against a military backdrop to pledge closer cooperation on defense, security and borders after Britain leaves the European Union....
Categories: FINANCIAL NEWS

Macron rejects special access for City after Brexit

FINANCIAL TIMES - Thu, 01/18/2018 - 20:46
French leader invites UK to ‘be my guest’ in single market if it pays and obeys rules
Categories: FINANCIAL NEWS

Keystone XL Pipeline Obtains Enough Shipper Commitments to Proceed

WALL STREET JOURNAL - US. BUSINESS NEWS - Thu, 01/18/2018 - 20:41
TransCanada announced that it has received enough commitments from oil shippers to advance construction of its controversial Keystone XL pipeline expansion.
Categories: FINANCIAL NEWS

Hospitals Plan to Produce Generic Drugs in Bid to Fix Troubled Market

WALL STREET JOURNAL - US. BUSINESS NEWS - Thu, 01/18/2018 - 20:38
Four nonprofit hospital groups, frustrated with common shortages and price spikes that they say have hampered patient care, are joining forces to manufacture and market generic drugs.
Categories: FINANCIAL NEWS

ADT IPO Drawing Muted Interest

WALL STREET JOURNAL - US. BUSINESS NEWS - Thu, 01/18/2018 - 20:38
Home-security company ADT Inc.’s initial public offering is likely to price below its expected range of $17 to $19 a share on Thursday, according to people familiar with the deal.
Categories: FINANCIAL NEWS

With Tax Savings, Some Employers to Boost 401(k) Contributions

WALL STREET JOURNAL - US. BUSINESS NEWS - Thu, 01/18/2018 - 20:24
A growing number of companies plan to use some of the savings they expect to realize from the tax overhaul to boost their contributions to employees’ 401(k) retirement-savings accounts.
Categories: FINANCIAL NEWS

Uber told to focus on US and Europe by SoftBank

FINANCIAL TIMES - Thu, 01/18/2018 - 20:13
Car-booking company’s biggest investor also says it needs to rejig Uber Eats and hire
Categories: FINANCIAL NEWS

Legacy airlines are facing new competitors on transatlantic routes

THE ECONOMIST - Thu, 01/18/2018 - 20:13

EVEN for a global industry like aviation, Primera Air’s business model seems remarkably cosmopolitan. The Icelandic-owned budget airline is headquartered in Latvia, but mainly operates low-cost flights from Denmark and Sweden to sunny places in the Mediterranean. This summer, it will begin long-haul flights from Britain and France to America. The company bears more than a passing resemblance to Norwegian Air Shuttle, another nominally Scandinavian airline with global aspirations. More than two-thirds of Norwegian’s capacity by passenger-km now bypasses its home country, and the rapid growth of its long-haul operations are proving to be a serious challenge for legacy carriers such as British Airways. And its tentacles are spreading around the world. This autumn, the carrier will begin operating domestic Argentinian flights, 12,000km away from its home base.

Low-cost airlines are not new. Ryanair, founded in the 1980s, has grown to become...Continue reading

Categories: FINANCIAL NEWS

Hack at Petrochemical Plant Compromised a Safety System

WALL STREET JOURNAL - US. BUSINESS NEWS - Thu, 01/18/2018 - 20:02
Hackers who attacked a petrochemical plant in Saudi Arabia last year gained control over a safety shut-off system that is critical in defending against catastrophic events.
Categories: FINANCIAL NEWS

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