Markets
Victory: Eddie Lampert's $5.2 Billion Bid Rescues Sears from Bankruptcy
Sears Chairman Eddie Lampert may be celebrating his early morning win on reaching a $ 5 billion deal to acquire the bankrupt retailer, but his employees-past and present-aren't too happy about it. The approval comes after weeks of back and forth between Sears and Lampert's hedge fund whose first bid of $4.4 billion was rejected amid questions of Lampert's ability to fully fund the bid. [Full Article...]
Goldman Sachs and Bank of America Earnings Help Bank Stocks Rebound
The gains helped offset a dismal quarter for the bank's fixed-income traders, who turned in the worst performance since before the financial crisis. Total revenue during the three months to December 31, 2018 came to $8.1 billion, compared with $7.83 billion in the same three months a year ago. Wells Fargo posted a 2018 profit of $22.4 billion. [Full Article...]
Foster meets with PM to discuss backstop 'problem'
The result of tonight's vote shows the importance of our Confidence and Supply Agreement. The talks were "good", said Mr Dodds, who added that Mrs May "has a way through this" by addressing the Irish border backstop in a "satisfactory way". [Full Article...]
Democrats introduce $15 minimum wage bill
Bernie Sanders' push for an increase in the federal minimum wage. The grassroots movement the senator referred to was the group Fight for $15, which began its fight for a minimum wage increase in 2012 and has since grown into a global movement in hundreds of cities. [Full Article...]
Royal Caribbean Bans Man For Life After He Jumps From Cruise Ship
However, when ship security caught up with him, they ordered he and his friends to pack up and leave immediately. Nick Naydev's friends may be laughing in the video, but Royal Caribbean doesn't think he's so amusing. "My feet were actually fine". Royal Caribbean banned Naydev and his friends from cruising with the company for life and are considering taking legal action against them. [Full Article...]
Tony Blair joins condemnation of Corbyn for REFUSING to hold Brexit talks
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Mr Corbyn , who yesterday lost a no-confidence motion against Theresa May , accused the Prime Minister of "blackmailing" MPs with a no-deal scenario so they would back her second attempt at passing a withdrawal agreement through parliament. [Full Article...]
Microsoft pledges US$500 million to ease local housing crunch
The software giant, which isn't based in Seattle but nearby Redmond, said it would work to open up housing options for low- and middle-income workers nearly immediately, with plans to invest the money within the next three years. In some cases, that's meant including affordable housing in new corporate developments, as Alphabet's Google is planning to do in San Jose, California. [Full Article...]
Oil prices slip as U.S. crude output rises
March Brent crude oil is at $61.05, down $0.27 or -0.44%. OPEC's oil production fell by the most in nearly two years in December as leading member Saudi Arabia made an early start on cuts to prevent a surplus. The EIA also said gasoline stockpiles climbed 7.5 million barrels last week, far exceeding analyst expectations in a Reuters poll for a 2.8 million-barrel gain. [Full Article...]