President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Fairfax Financial Holdings, a Canadian property and casualty insurer, said it would buy Brit, a specialty insurer and reinsurer, for about $1.88 billion to gain a significant presence in the Lloyd's of London market.
Brit shareholders will receive 305 pence in cash per share, including any final dividend for the year ended Dec. 31. Fairfax said it expects Brit to pay a final dividend of 25 pence per share for the year ended Dec. 31.
The offer price of 305 pence per share represents a premium of 11.2 percent to Brit's closing price on Feb. 16.
Investor Prem Watsa-led Fairfax said it has received hard irrevocable undertakings to accept the offer from entities managed by Apollo Global and CVC Capital Partners, which together hold about 73 percent of Brit's issued share capital.
Apollo and CVC, which acquired Netherlands-based Brit in 2010, sold about 25 percent of the company, launching it on the London stock exchange last year and valuing it up to 960 million pounds ($1.48 billion).
Brit underwrites a broad class of commercial specialty insurance with a strong focus on property, casualty and energy business.
"Brit has an outstanding track record over the last ten years and will continue to operate on a decentralized basis once owned by Fairfax," said Fairfax Chief Executive Prem Watsa.
The acquisition is accretive to Fairfax on several metrics, including gross revenue per share and investments per share, the company said in a statement.
Earlier this month, Toronto-based Fairfax Financial Holdings agreed to acquire the Ukrainian insurance operations of Australia's QBE Insurance Group, expanding its presence in Eastern Europe.