Business

Crude Oil Down Near USD40 As US Inventories Rise

The premium of Brent futures over their USA equivalent narrowed to around $1.77 a barrel, from closer to $4 at the start of the month. USA oil futures averaged $43 a barrel so far this week, down from $46 last week. However, the spike in freight rates is not due to a ramp up in demand, but instead due to over-congestion.... wait times outside Chinese ports have lengthened considerably while vessels in the U.S.

Business

B&Q owner misses earnings estimates

That compared to analysts' average forecast of 234 million pounds, according to a company-compiled consensus. The results were impacted by £17 million of adverse foreign exchange movements on the translation of non-sterling profits and around £5 million of additional store development costs compared to past year.

Business

Yahoo Is Blocking Mail Access For Users With Ad Blockers

The popular email platform has reportedly blocked United States-based users of the popular ad blocking software AdBlock Plus . According to an article on Yahoo's own finance news site, the tech company was "taking a stand" against a few of its USA users who employ ad blockers on the ad-supported site by testing a feature that prevents these users from accessing their account until they turn the software off.

Business

BG Group's LNG Facility At Idku, Egypt

Completion of the transaction is subject to certain regulatory approvals as well as customary closing conditions. Noble will maintain a 35 percent interest and continue operating the project. In a statement, BG Group said that this upstream position provides a potential source of gas to Egypt, where the company holds equity in an LNG export facility at Idku and LNG offtake rights to lift 3.6 million tpy.

Business

CVC Capital Partners / CPPIP to acquire Petco for $4.7 billion

TPG and Leonard Green had also registered Petco with regulators for an initial public offering, which they would have proceeded with if offers for the company were far below their valuation expectations. The deal may be announced as soon as this week, the people said. This likely deal comes at a time that proves challenging for private equity firms as the jerky finance markets have proved to be difficult for them to secure the amount of debt which they are used to make investment returns ...

Business

Coli outbreak now covers six states

There have been no deaths. Investigators concluded that an unknown ingredient served by the restaurant is likely responsible for the outbreak - even though no presence of the bacteria has yet been found at any Chipotle location. On Friday, the CDC said three more states had been added to the list, extending the total number of states affected to six. The chain said they are examining their entire process from farm to restaurant and expanding testing of key ingredients and examining all of ...