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Wednesday, December 2nd, 2020
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Lucky fisherman finds blob of whale poop worth $3.2 million

Thai man holding large chunk of ambergris.

PortandTerminal.com, December 1, 2020 BANGKOK –  A lucky Thai fisherman has found what is believed to be the world’s biggest blob of Ambergris, a fancy word for whale poop, worth an estimated $3.2 million. The chunk he found weighed almost 220 lbs, conceivably making it one of the greatest deposits of the whale secretion that has ever been discovered. Ambergris Some …

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MONEY: What Are Investors Saying About Carnival Cruise Lines? -InvestorPlace.com

Cruise ship

PortandTerminal.com, November 26, 2020 At the bottom and time to buy? Carnival and the cruise industry overall are in a very difficult spot. This is what one investment website has to say about their stock. NEW YORK – InvestorPlace.com featured Carnival Cruise Lines in an article yesterday titled “Investors Should Desert the Sinking Ship That Is Carnival Cruise Lines”. It …

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Gulfport files for bankruptcy: Warned in August might not survive

Gulfport Energy Corp headquarters

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. …

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MONEY: Wall Street Is Not Overly Worried Trump Can Overturn Election

A street sign for Wall Street is seen outside the New York Stock Exchange

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 …

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EXCLUSIVE: Macquarie in exclusive talks to buy Italy’s biggest independent gas storage facility

Bronze plaque reading Macquarie on building. Pedestrian in suit passing by

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 …

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Largest investment in seafood industry by an Indigenous group in Canada

Sign at Clearwater HQ. Model of large lobster

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 …

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MONEY: Corporate America says it is ready to work with Biden

Traders work the floor of the New York Stock Exchange

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 …

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Shipping Exec Busted In Art Auction Tax Scam

A sign marking Sotheby's headquarters

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 …

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CN Railway Revenue Drops 11% as Oil, Metals Shipments Plunge

Freight train seen through chainlink fence

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 …

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ConocoPhillips to Concho for $9.7 Billion – Largest Deal Since COVID-19 Hit

Flags

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 …

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