Apple
to cut 200 jobs at Beats - (www.marketwatch.com) Apple Inc. is
planning to cut 200 jobs at Beats Electronics, the headphones and
music-streaming service it recently acquired for $3 billion, The New York Post
reported on Thursday. The cuts, which come ahead of the expected Aug. 1 closing
of the deal, are equal to about 40% of the company's workforce, said the paper.
In a statement, Apple said it has extended job offers to all Beats employees,
although because of overlap with other parts of its business, some offers are
for a limited period.
Stock
Market's "Oh Sh*t" Moment About Russia, As Bevy of Blue-Chips Warn - (www.thestreet.com) I
guess investors needed to hear it from companies as diverse as Siemens, Adidas,
and Shell all at once to drive the point home. Yes, Russia, Ukraine, Russian
impact on Europe, strong dollar, it's all coming together in one ugly morning.
There's a grudging recognition that not only are the sanctions not working, but
they are making Putin dig in his heels. Digging in his heels means that he is going
to cut the natural gas spigot to Europe when it gets cold. I think that's how a
company like Siemens could withhold an outlook for 2015. I think it is how
Shell last night said it could be a game changer. Adidas didn't even have to
wait until winter to lower the boom. It did so now.
In
Portugal, Central Bank Moves to Clean Up Banco Espírito Santo - (www.nytimes.com) Portugal’s central bank stepped up efforts to
clean up the troubled lender Banco Espírito Santo and end its family control
after the bank reported a stunning first-half loss of $4.8 billion that will
force it to raise more capital. After the bank’s earnings report, the central
bank issued a statement ordering Banco Espírito Santo to raise more funds and
announced the suspension of three members of the Espírito Santo family, which
has controlled the bank for generations. The central bank removed the three
members’ voting rights as directors and said that it would push for legal
action against any director involved in fraudulent activities. “The reshuffle
of the leadership equals a nationalization of the financial institution through
the back door,” Antonio Barroso, an analyst at Teneo Intelligence in London,
said in a report.
ISDA
to Rule If Argentina Credit-Default Swaps Triggered
- (www.bloomberg.com) The International
Swaps & Derivatives Association said its determinations committee will
rule on whether credit-default swaps linked to Argentina have been triggered by a failure-to-pay credit event. The committee will meet tomorrow at 11 a.m.
in New York and a decision that an event has occurred would lead to payouts on
all contracts, according to ISDA’s rules. A total of 2,652 contracts insuring a
net $1 billion of Argentina’s debt were outstanding as of July 25, according to
the Depository Trust & Clearing Corp. Swiss bank UBS AG asked for the
ruling after the government missed a deadline yesterday to pay $539 million in
bond interest payments. Argentina would be the first nation to trigger payouts
on default swaps since Greece restructured its debt in 2012. “CDS are
likely to be triggered,” Casey Reckman and Daniel Chodos, analysts at Credit
Suisse Group AG in New York, wrote in a note to investors today.
California
Health Insurance Rates Rise Up to 88% in ’14 - (www.bloomberg.com) Health-care insurance premiums for
individuals in California rose between 22 percent and 88 percent in
2014 from last year, even after the federal health-care overhaul, the state’s
insurance commissioner said. The rate increases, with variation for geography and age, were
masked by federal subsidies that the Patient Protection and Affordable Care Act
provides to 88 percent of the1.4 million Californians who purchased health care
through the state’s exchange, Insurance Commissioner Dave Jones said. Jones, a
Democrat, is pushing a statewide ballot measure for November known as
Proposition 45 that would give him regulatory say on proposed premium
increases. The measure is opposed by insurance companies, which have said that
it would actually cause rates to rise while harming the quality of care.
Obamacare
costs will rise 4% in California - (www.marketwatch.com)
Synchrony off to lackluster start in stock debut - (www.marketwatch.com)
Synchrony off to lackluster start in stock debut - (www.marketwatch.com)
No comments:
Post a Comment