Glencore Says $395 Million Coal Loss Isn't Trading Bet Gone Bad
Glencore Plc, the world’s biggest coal exporter, defended its decision to hedge future coal production, saying a $395 million loss it recorded on the trade isn’t a bet gone bad.On a call with analysts, Chief Financial Officer Steve Kalmin described the trade as “sensible” and a “corporate risk-management” decision to lock in prices for coal. The charge wasn’t a “big deal,” according to Ivan Glasenberg, who heads the commodities company.The loss, which hasn’t been realized yet, stings for Glenco..>> view originalBerkeley sees a big drop in soda consumption after penny-per-ounce 'soda tax'
Can Americans tax themselves out of their obesity crisis? A new analysis of Berkeley’s first-in-the-nation “soda tax” offers encouraging results about its power to change people’s dietary habits.Five months after the city implemented its penny-per-ounce tax on all manner of sugar-sweetened beverages, lower-income residents had reduced their consumption by 21%, compared to the pre-tax days. Meanwhile, their counterparts in neighboring Oakland and San Francisco increased the amount of sugary drin..>> view originalHow The Hell Did Tesla Get The Model S Landboat To Go 0–60 MPH In 2.5 Seconds?
The Tesla Model S is a big car. It's in the “large luxury sedan” or “full-size luxury car” class (or, depending on your country and preferred classification, some similar variation that indicates to buyers it is big). It's a completely unsurprising ...>> view originalQantas Soars to Record Profit as Pain Pays Dividend
SYDNEY—A first dividend payment in seven years marks a big turnaround for Qantas Airways Ltd., which as recently as 2014 had been selling terminals, deferring plane orders and laying off staff to stem losses from a bruising battle for dominance in Australia’s skies. It also comes as some of its biggest regional rivals, including Cathay Pacific Airways Ltd., remain in a funk. Qantas, known as the “Flying Kangaroo,” on Wednesday...>> view originalIt didn't get the whole package, but Pfizer will pay $1.5B for AZ's antibiotics biz
Pfizer, $14 billion down after its biotech bonanza buyout of Medivation in cash this week, still has money in the pot to buy AstraZeneca’s antibiotics unit. Had Pfizer ($PFE) managed to buy AstraZeneca ($AZN) two years ago for over $100 billion it would have already had access to this biz, but as we know this never happened--so Pfizer appears happy to step in and pick up what it wants from the U.K. firm’s yard sale, and AZ is happy to take the money to help shore up funds for its heightened focu..>> view originalOfficials Report Jordan Oil Spill in Red Sea, Extent Unclear
AMMAN, Jordan — Officials have reported that oil has spilled from Jordan into the Gulf of Aqaba, but the size of the leak remains unclear.The civil defense chief in Jordan's Red Sea port of Aqaba told a local news website that the leak was brought under control within 15 minutes, without saying how much oil had leaked.Israel's Foreign Ministry says it was informed of the leak by Jordanian counterparts. The statement referred to 200 tons of oil having leaked, citing Jordanian media reports. How..>> view originalZuma Bids to Tighten Grip as S. Africa Police Target Gordhan
Stung by his ruling party’s worst electoral performance since the end of apartheid, South African President Jacob Zuma is going for broke in a battle to maintain his grip on power. The first casualties have been the nation’s rand and bonds.First came Monday’s announcement that he plans to run a committee that will oversee the nation’s state-owned companies. Then Finance Minister Pravin Gordhan, with whom Zuma has had fractious relationship, said he’d received “correspondence” from a special pol..>> view originalGraduate Students Clear Hurdle in Effort to Form Union
The three Democratic members of the board made up the majority; the lone Republican member dissented. A fifth spot on the board has been vacant since last year.Highly educated workers in other fields have also chafed at a growing sense of their own powerlessness. Recent law school graduates have lamented their rising debt and declining prospects for landing a law firm job. Many medical interns and residents have unionized in recent years, while a group of doctors at a medical center in Oregon f..>> view originalVolkswagen 'picked up €100m bill' in deal to end dispute with suppliers
VW appears to have made the most concessions, according to the newspaper. As well as picking up the bill, the carmaker agreed to the partial reinstatement of a cancelled contract that triggered the dispute in the first place. VW was forced to halt production of its Golf and Passat models and cut hours for almost 28,000 workers after two suppliers refused to fulfil deliveries of essential components. The company is still reeling from the effects of the dieselgate scandal last year, when it was f..>> view originalClinton details plans to boost small businesses
By Amanda Becker Advertisment of Gallery: LOS ANGELES (Reuters) - Democrat Hillary Clinton on Tuesday vowed to make starting a small business in the United States as easy as opening a lemonade stand if elected president, targeting a large economic sector and a significant voting bloc. Her flagship proposal is to establish a standard tax deduction for small businesses, previously only available to individuals, allowing owners to get tax relief without filing additional forms...>> view original
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