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Enbridge Agrees to Acquire Spectra Energy in $28bn deal (ENB)

Spectra shareholders will receive 0.984 Enbridge shares for every Spectra share owned. Shares of Spectra Energy Corp . rose $4.76, or 13.5 percent, to $40.91. Monaco said. The boards of both companies have approved the deal, which is expected to close during the first quarter of 2017, subject to shareholder approval and antitrust clearance.

Business

Oil Surges as Russia, Saudi Arabia Promise Cooperation

Saudi deputy crown prince told Russian President Vladimir Putin on the sidelines of the same summit that cooperation between the two countries would bring benefit to the global oil market. However, the Saudi minister said that an output freeze is not "necessary" at this point, as the market is improving and prices are bound to reflect this soon.

Business

Rocked by defeat, could Germany's Merkel step down before 2017 election?

A nationalist, anti-immigration party has beaten Angela Merkel's conservatives into third place in a state election in her own political fiefdom. In a last-minute campaign appearance on Saturday before she flew to China for the G20 summit, Mrs Merkel had urged voters to shun the politics of "angst" offered by the AfD.

Business

Australia marks 25 years of unbroken economic growth

The 6.9% jump in corporate profits in the June quarter and a 0.3% gain in inventories in the same three months (but subdued wages and sales growth in the same period), will offset the 0.2% detraction from growth by the $1 billion fall in the goods and services surplus in the June quarter.

Business

Hanjin Shipping parent raising funds to unload stranded cargo

South Korea said Monday it will extend financial support for the contractors of Hanjin Shipping , the nation's largest container shipping line under court receivership. "The delay of such action has made the revival of Hanjin Shipping even more unlikely", Kim said. Hanjin Shipping's collapse last week has caused chaos in global trade networks and a surge in freight rates, as ports and vendors refused to provide services to Hanjin vessels for fear they won't be paid.

Business

Dollar drops after U.S. jobs growth disappoints

Thank you for signing up to receive our blog alerts. You have now viewed your allowance of free articles. "As we head into Labor Day weekend, the August employment report shows that we're continuing a steady recovery", U.S. The Dow gained 72.66 (+0.39 percent) to finish at 18,491.96. Dr Yellen has said the economy needs to create just under 100,000 jobs a month to keep up with population growth.

Business

Here's when the Street expects the Fed to hike rates

On Friday morning, the Labor Department reported that the USA economy added 151,000 jobs, while the unemployment rate remained at 4.9 percent. Most Asian markets were listless Friday as investors awaited key US job data that could influence the Fed's interest rate policy.

Business

What to Do If You Have a Recalled Samsung Galaxy Note 7

While this issue will only affect a small percentage of devices, Samsung is not taking any risks as it recalls the Galaxy Note 7 worldwide for safety concerns. "It is a big amount that is heartbreaking", said Koh Dong-jin, president of Samsung's mobile communications business. Here's the full statement from Samsung: -- Samsung is committed to producing the highest quality products and we take every incident report from our valued customers very seriously.

Business

Bavarian leader warns Merkel after 'disaster' state vote

The center-left Social Democrats, Merkels partners in Germanys national government, remained the strongest party in Mecklenburg. Merkel, chancellor for almost 11 years, on Monday took responsibility for the state election result but stood by her migrant policy.

Business

Reliance Jio goes live with unlimited voice calling and more

Reliance Jio offers 300MB of 4G LTE data with unlimited access from 2PM to 5PM at Rs. 149. He said many of his schoolmates had also applied to join the network. RJio will face the real test of providing decent network connectivity and fast data speed after its commercial launch next year in January, because the more people come on board, the poorer the network quality may turn out to be.

Business

Oil edges lower amid skepticism about output freeze

The two countries signed a joint statement on Monday that calls for Russian Federation and Saudi Arabia to work together to support the "stability" of the global crude market, the BBC said . Iraq, Iran and the United Arab Emirates also increased their output, filling the void created by shrinking production from embattled OPEC members Nigeria and Venezuela.

Business

Slowdown in Job Creation Keeps Traders Guessing on Rates

If the Fed doesn't raise rates after it meets September 20-21, most analysts expect it to do so in December. Chris Williamson, chief business economist at IHS Markit, said: "News the USA economy added jobs at a slower than expected rate in August, and that wage growth slowed, reduced the odds of a Fed rate hike in September".

Business

Gold Rises On Rate Hike Uncertainty

Spot gold was slightly up at $1,327.46 per ounce by 0409 GMT. Gold is priced in dollars, and become more affordable to foreign investors when the US currency declines. Gold could run into upside headwinds as the United States jobs number was not excessively weak and recent Fed official's comments have been hawkish, HSBC analyst James Steel said in a note.

Business

Tribe asks federal judge to block work on parts of pipeline

He also said he'll rule on the Standing Rock Sioux Tribe's challenge of federal regulators' decision to grant permits to the Texas-based operators of Dakota Access pipeline, which will cross North Dakota , South Dakota , Iowa and IL, by the end of Friday.

Business

Greta Van Susteren out as Fox News host

A source familiar with the deal told ABC News that the settlement was valued at $20 million. Ailes , the powerful Fox News CEO and chairman, resigned in the wake of the allegations, which he has continuously denied. " Fox News has given voice to those who were ignored by the traditional networks and has been one of the great commercial success stories of modern media".

Business

Third consecutive rise in prices at Global Dairy Trade auction

Fonterra's GDT Price Index climbed 7.7 percent, with an average selling price of $2,920 per tonne, in the auction held on Tuesday. Nevertheless, price increases were across the board and skim milk powder, another important reference product for Fonterra, gained by 10 per cent to an average price of US$2224 a tonne.

Business

Chairman Archambault claims pipeline builders provoke protesters

Harold Frazier, chairman of the Cheyenne River Sioux Tribe , S.D., said that many of his tribal members were pepper sprayed by the security officers and attacked by dogs. "We're days away from getting a resolution on the legal issues, and they came in on a holiday weekend and destroyed the site", said Jan Hasselman, attorney for the Standing Rock Sioux Tribe.

Business

Tribe files emergency request to stop Dakota Access Pipeline

The Standing Rock Sioux call the pipeline a black snake, and they know that if it were to rupture and spill - a serious risk, given the well-documented history of pipeline leaks in the USA - it could poison their drinking water and pollute their sacred land.

Business

Bill Cosby in Pennsylvania court with streamlined legal team

Cosby in the conversation described the sex act as "digital penetration" but refused to tell Gianna Constand what pills he had given her daughter. The physical encounter was consensual, according to Cosby, who has pleaded not guilty to the charges.

Business

Oil slips below $47 as hopes for producer action wane

At about 7:20 GMT, the USA benchmark West Texas Intermediate ( WTI ) was up 78 cents, or 1.76 per cent, at $45.22 and Brent added six cents, or 0.06 per cent, to $47.69. Traders on Tuesday had an eye out for headlines from a meeting between OPEC Secretary-General Mohammed Barkendo and Iran's oil minister. Slower second quarter growth in the European economy, coupled with a more measured look at production rumors, brought oil prices lower early Tuesday.

Business

Thousands Gather For Tahoe Summit, Obama Visit

He continued: "And we've proven that the choice between our environment, our economy, and our health is a false one". He cited more frequent and intense wildfires and rising water temperatures in the lake as examples of changes that are happening around the world due to rising levels of carbon in the atmosphere.

Business

Authorities respond to protest, deem it unsafe

Stein leaned on the blade of a bulldozer as she talked to those gathered at the site. Preskey said law enforcement authorities had no reports of protesters being injured. Witnesses said pipeline construction workers were in the area when protesters arrived but are no longer working in the area. Demonstrators said the guards sprayed numerous activists with pepper spray and tear gas, and some protesters were injured by the guards' dogs.

Business

Judge grants short work stop on 4-state pipeline

Standing Rock Sioux tribal chairman Dave Archambault II issued a statement, saying: "Today's denial of a temporary restraining order. west of Lake Oahe puts my people's sacred places at further risk of ruin and desecration". Standing Rock Sioux Chairman David Archambault II is expected to release a statement on Facebook later Tuesday. Protests continued Tuesday in North Dakota against the Dakota Access Pipeline .

Business

Colin Kaepernick booed for USA anthem protest

Kaepernick started Thursday's game. "The media painted this as I'm anti-American, anti-military, and that " s not the case at all", he said. And while many veterans came to Kaepernick's defense this week, using #VeteransForKaepernick on Twitter to express their support, there are still some who are disappointed in his actions.

Business

Senators to Mylan: New EpiPen measures aren't enough

It means the generic version comes at half the cost of the EpiPen, which costs $600. "The price is what Medicare, Medicaid and insurance companies pay". The Amsterdam-based drugmaker said it earns $274 off every EpiPen sold. That would mean Mylan would get to pocket nearly 10% more than they otherwise would.

Business

Ackman buys into Chipotle, expects to talk with management

In an SEC filing on Tuesday, Pershing said the Denver-based fast-casual restaurant's stock is "undervalued and an attractive investment". Ackman intends to enter discussions with Chipotle's management on the company's business, operations, cost structure, assets, and others, according to the filing.

Business

Obama aide to meet with missing Laotian activist's wife

The comment that caused Mr Obama to postpone the meeting was certainly confrontational, although some of his supporters argue that the style was simply Mr Duterte's robust manner of speech . Duterte said he would not meet United Nations Secretary General Ban-ki Moon at the upcoming Association of Southeast Asian Nations ( Asean ) summit in Laos , as he had "no time ", Business Standard reported .

Business

Dollar drops after USA jobs growth disappoints

The unemployment rate remained at 4.9 percent for a third straight month, the Labor Department reported Friday. "The move in the market is probably related to a little sense of relief that a rate hike will be pushed off". That is down from a peak of 17.4 percent in 2009, just after the recession ended. And overall confidence has touched an 11-month high. That, and other recent remarks by Fed officials, suggest that job gains need to be merely solid - rather than extraordinary - to warrant ...

Business

China vetoed from becoming 2nd biggest Australia farm owner

Overall, the report said that from June 30 this year 13.6 per cent or 52.1 million hectares of Australia's total agricultural land of 384.6m/ha was foreign owned. Next largest is the Netherlands, with nearly 3 million ha, and Singapore 1.9 million ha (full list at base of page). This could all have been very different however.

Business

William and Kate in surprise visit to Cornwall's Eden Project

The teen also said that the Duchess wants the children to learn all about farming and the apples in their orchard and that Kate "said she'd secretly like to be a young farmer". The Duke appeared touched and said: "We've just started, there's lot's more to come, we're tackling the stigma but there's also legacy stuff". William and Kate were then treated to a performance by 16 year old Ellie Kiraly from Porthtowan, who sung Stay With Me by Sam Smith.

Business

Tesla set to update Autopilot system

Elon Musk revealed that " major improvements" to Tesla's Autopilot semi-autonomous system are coming to cars via future over-the-air updates, called V8.0 and 8.1, which will be released in the next few weeks. Meanwhile, SolarCity tore through $2.8 billion in free cash flow during the past 12 months, a startling amont considering the company has $145.7 million in cash.

Business

How Increased Cost-Sharing Triggered the EpiPen Crisis

In the past few years, the cost of the EpiPen , which is used as a live-saving treatment for allergic reactions, has risen to $614 for two pens, up from $100 for the pair. Stay on topic - This helps keep the thread focused on the discussion at hand. Mylan's CEO Heather Bresch's salary increased by almost 700 percent from 2007 to 2015, NBC News reported.

Business

Obama touts USA cybersecurity strength after meeting with Putin

Kerry predicted a deal could be reached within a week. Kerry, with approval from Obama, traveled to Moscow in mid-July to propose an agreement under which the United States would share intelligence and coordinate its bombing of terrorist targets with Russian Federation if Moscow would agree to ground the Syrian air force and stop its own bombing of US -backed opposition forces.

Business

Bill Cosby Sexual Assault Trial Date Set

The defense claims that Cosby did not know he was being recorded. He arrived at the Montgomery County Courthouse in Norristown, as he fights aggravated sexual assault charges against him. He already pleaded not guilty at an earlier hearing and is free on $ 1 million bail . Cosby was led into the courtroom on the arm of an aide. Cosby's eyes appeared less milky and he seemed more engaged and animated as he spoke with his legal team.

Business

Gold hits near 5-week low after Fed strikes hawkish note

He said the USA economy is nearing full employment and had "withstood" the rise in the dollar's value in foreign exchange markets. The annual meeting for global central bankers took place at the Jackson Hole symposium on Friday. The S&P 500 was down 6.12 points, or 0.28 percent, at 2,174.26. Raising interest rates from their rock-bottom levels, where they have been since the 2008 financial crisis, could be a good thing not only for markets but for savers, said Rob Lutts, chief investment ...


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