Top News & Analysis New York

  • In the three years since Saudi Crown Prince Mohammed Bin Salman first proposed a stock market listing, climate change and new green technologies are putting some investors, particularly in Europe and the United States, off the oil and gas sector. "Saudi Aramco is a really interesting test as to whether the market is getting serious about pricing in energy...

  • OSLO, Aug 20- Seadrill's core earnings for the second quarter exceeded the company's own guidance, and are set to rise in the third, the Oslo and New York- listed oil drilling rig operator said on Tuesday. Seadrill's third-quarter adjusted EBITDA will likely hit $70- 75 million, it predicted. In the second quarter, the operating loss stood at $73 million, smaller than...

  • OSLO, Aug 20- Seadrill's core earnings for the second quarter exceeded the company's own guidance, and are set to rise in the third, the Oslo and New York- listed oil drilling rig operator said on Tuesday.

  • NEW YORK/ HOUSTON, Aug 20- Two long-awaited pipelines out of the busiest U.S. shale patch started shipping oil to Gulf Coast export hubs last week- just as U.S. crude barrels suddenly do not look all that attractive to buyers around the world. The primary motivator for buying U.S. barrels is the discount on Cushing- based West Texas Intermediate to the international...

  • WILMINGTON, Del., Aug 19- A federal judge dismissed claims on Monday by turnaround pioneer Jay Alix that McKinsey& Co violated racketeering laws when the consulting firm expanded into advising bankrupt U.S. companies. Judge Jesse Furman of Manhattan dismissed claims brought under a racketeering law known as RICO that McKinsey had harmed AlixPartners.

  • Aug 19- Ted Stedem, WeWork's global head of business and financial operations, has left the U.S. shared office space manager ahead of its anticipated initial public offering, people familiar with the matter said on Monday. Brands in 2009, Stedem worked in finance, business development and marketing roles with Merrill Lynch, Bain Consulting and Office Depot.

  • NEW YORK, Aug 19- U.S. stocks climbed on Monday as reports of stimulus efforts in China and Germany calmed fears of a severe downturn in the global economy that were stoked last week as bond yields fell. On Sunday, German Finance Minister Olaf Scholz suggested that Berlin could make available up to 50 billion euros of extra spending. "Those are positive stories, and...

  • NEW YORK, Aug 19- General Electric Co intensified its defense of its accounting practices on Monday after investors questioned it about an unusual research report alleging GE failed to put aside money to cover $29 billion in potential insurance losses and improperly counted profit from subsidiary Baker Hughes. GE shocked investors in 2017 by saying it would...

  • *China unveils interest rate reform, boosts risk appetite. *Focus on Fed's Jackson Hole symposium. "We think the more accommodative central bank backdrop should help insulate the downside in risk markets," said Mazen Issa, senior FX strategist at TD Securities in New York.

  • NEW YORK, Aug 19- General Electric Co intensified its defense of accounting practices on Monday after investors questioned it about an unusual research report alleging GE failed to put aside money to cover $29 billion in potential insurance losses and improperly counted profit from subsidiary Baker Hughes. GE's shares fell as much as 15% after financial...

  • NEW YORK, Aug 19- The cost of insuring against an Argentine sovereign default rose on Monday after opposition candidate Alberto Fernandez said the country would struggle under present conditions to repay a loan to the International Monetary Fund. Monday is a market holiday in Argentina but bonds were traded elsewhere in thin volumes, with both the century and...

  • Aug 19- Buyout firm Catalyst Capital Group Inc said on Monday it will acquire a significant stake in Hudson's Bay Co, a move that could block the department store's executive chairman's plans to take it private for C $1.74 billion. Baker needs a majority of minority shareholders to approve any deal he offers for the owner of department stores Saks Fifth Avenue,...

  • Aug 19- The United States recorded 21 new measles cases last week, raising the total number of cases for the year to 1,203 across 30 states in the worst outbreak of the virus since 1992, federal health officials said on Monday. The U.S. Centers for Disease Control and Prevention said there had been a 1.8% increase in the number of cases of the highly contagious and...

  • *Futures up: Dow 1.08%, S&P 1.08%, Nasdaq 1.37%. *Estee Lauder after FY forecast raise. Aug 19- Wall Street was set for sharp gains at open on Monday as signs of an interest rate reform in China bolstered hopes that major economies would act to stave off the slowing economic effects of escalating global trade tensions.

  • *OPEC sees bearish oil market for rest of 2019. "Oil is benefiting from an overall optimism that we won't see the doomsday trade war scenario and after a drone attack on oil and gas facilities in Saudi Arabia reminded markets geopolitical tensions in the Middle East are going nowhere anytime soon," said Edward Moya, senior market analyst at OANDA in New York.

  • Aug 18- Private equity firm Centerbridge Partners LP is nearing a deal to acquire a majority stake in GoHealth LLC that could value the U.S. online health insurance marketplace at about $1.5 billion, people familiar with the matter said on Sunday. GoHealth has since expanded into other areas of health coverage, such as Medicare and small group health plans.

  • NEW YORK, Aug 18- The U.S. Centers for Disease Control and Prevention is investigating a "cluster" of lung illnesses that it believes may be linked to e-cigarette use after such cases were reported in 14 states. The CDC is working with health departments in Wisconsin, Illinois, California, Indiana and Minnesota on the investigation. Of those cases, 30 occurred in...

  • In preparation for the giant offer, bankers advising other large listings in Hong Kong have been careful to avoid planning their launches around that period, fearing that a clash of timing would crowd out their offerings. But not a word was mentioned by Alibaba on the Hong Kong listing when it released estimate-beating earnings on Thursday nor did the offer...

  • BOSTON/ NEW YORK, Aug 16- Activist investor Paul Hilal's Mantle Ridge LP has bought nearly 10% of Aramark's common stock to push for changes at the U.S. food services company, a regulatory filing showed on Friday. Based in Philadelphia, Aramark is a provider of food and uniforms to education, healthcare, business, sports and leisure establishments.

  • NEW YORK, Aug 16- Finding a buyer for Philadelphia Energy Solutions' oil refinery has grown urgent as the bankrupt company's funds dwindle and no signs emerge that it is winning a fight for insurance payouts after a June blaze at the plant, according to court documents and bankruptcy experts. At least three parties have potential proposals to buy the shut...