Money

BLOOMBERG, NOVEMBER 14, 2020 Natural gas producer’s liabilities totaled about $2.5 billion | Company had warned in August it might not be able to survive By David Wethe for Bloomberg – Gulfport Energy Corp. filed for bankruptcy, joining a slew of U.S. oil and gas companies that are collapsing after the pandemic deepened their struggle with low prices and too much debt. …

REUTERS, NOVEMBER 11, 2020 Sectors that were expected to outperform under President-elect Joe Biden are surging, such as cannabis stocks and clean energy. NEW YORK (Reuters) – U.S. stock investors have expressed concerns that President Donald Trump’s effort to contest the U.S. election without evidence could roil markets temporarily, but few appeared seriously worried that challenges to the results will …

REUTERS, NOVEMBER 11, 2020 MILAN (Reuters) – Australia’s Macquarie is in exclusive talks to buy Italy’s biggest independent gas storage facility for more than 1 billion euros ($1.2 billion) but will need government clearance before clinching any deal, three sources close to the matter said. Ital Gas Storage, 92.5% owned by Morgan Stanley Infrastructure Partners, will have a capacity of …

BLOOMBERG, NOVEMBER 10, 2020 Clearwater rises on takeover bid from Premium Brands, Mi’kmaq | Deal comes amid lengthy dispute over Atlantic fishing rights By Marcy Nicholson for Bloomberg – Premium Brands Holding Corp. and a coalition of Mi’kmaq First Nations agreed to buy Clearwater Seafoods Inc. for C$537 million ($413 million) in a deal touted as the single largest investment in the seafood industry …

REUTERS, NOVEMBER 9, 2020 WASHINGTON (Reuters) – Corporate America says it is ready to work with President-elect Joe Biden, hoping for quick action on a new round of COVID-19 relief and infrastructure spending. Major business trade groups like the U.S. Chamber of Commerce and Business Roundtable quickly issued congratulating statements to Biden, even though President Donald Trump has refused to …

REUTERS, NOVEMBER 9, 2020 By Jonathan Stempel (Reuters) – Sotheby’s was sued on Friday by New York’s attorney general, who accused the auction house of defrauding the state by helping a shipping executive avoid millions of dollars of sales taxes on art he purchased. Attorney General Letitia James said Sotheby’s helped the client, (Issac Moises Sultan Cohen of Atlantic Feeder Services USA), obtain …

BLOOMBERG, OCTOBER 21, 2020 Petroleum, coal, metals and automotive volumes all plunged by double-digit percentages | Grain and fertilizer shipments up By Marcy Nicholson for Bloomberg – Canadian National Railway Co. reported third-quarter revenue of C$3.41 billion ($2.6 billion), missing analysts’ expectations for C$3.5 billion. The Montreal-based railway said it experienced lower volumes across most commodity groups amid the Covid-19 pandemic. Key …

PortandTerminal.com, October 19, 2020 Together, ConocoPhillips and Concho Resources will produce 1.5 million barrels a day and become a major player in the Permian Basin area NEW YORK – ConocoPhillips (NYSE: COP) and Concho Resources (NYSE: CXO) today announced that they have entered into a definitive agreement to combine companies in an all-stock transaction. The combined company would easily be …