PennyStockPayCheck.com Rss

Featured Posts

Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

Read more

Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

Read more

Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

Read more

Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

Read more

UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

Read more

Romney, Obama step it up in crucial Ohio – San Francisco Chronicle

Category : Stocks


San Francisco Chronicle
Romney, Obama step it up in crucial Ohio
San Francisco Chronicle
Westerville, Ohio — Republican presidential candidate Mitt Romney barnstormed Ohio on Wednesday amid signs that the battleground state, and perhaps others, is slipping farther from his grasp. With President Obama also campaigning in the state,
Romney, Obama duke it out all across must-win OhioDetroit Free Press
Romney's Ohio backers don't believe the pollsUSA TODAY
Romney, Obama pitch manufacturing jobs in OhioThe Detroit News
Fox News

Post to Twitter

How much of Xstrata does Qatar Holdings want to own?

Category : Business

A 10% stake would have been sufficient as a blocker to Ivan Glasenberg’s merger pitch – so why buy 12%?

The sovereign wealth fund has gobbled 12% of the miner, which represents overkill in terms of firepower to thwart Glencore’s proposed all-share scheme of arrangement. Given the presence of other declared opponents to Ivan Glasenberg’s merger pitch of 2.8 Glencore shares for every Xstrata share, a stake of 10% or so would have been sufficient as a “blocker”.

But the Qataris don’t seem to be satisfied at 12%. What if they go as high as 20% over the next year, building a counterweight to Glencore’s 35% holding? At that point, Xstrata would be a strange stock market beast – there aren’t many large FTSE 100 companies where two investors own half the shares between them.

In terms of day-to-day management of the mines, such an arrangement may make little difference. Xstrata chief executive Mick Davis is used to working in the shadow of one big investor and two should feel much the same. But, if the Qataris do assemble 20%, would they want representation on the Xstrata board? Glencore is entitled to appoint three directors today. Would Qatar be allowed two?

That’s one possible uncomfortable reality Glasenberg might have to confront if his current proposal is shot down when Xstrata shareholders vote on it on Friday. He’s used to having an effective veto over Xstrata’s strategy and capital expenditure budgets. In future, he could be one of two parties in that position. He surely cannot have imagined such an outcome when he launched the merger proposal in January.

It’s not too late, of course, to avoid it – he simply has to improve the offer this week to meet Qatar’s idea of a fair price. But, if he doesn’t, it is hard to see how this deal can ever come back on today’s terms – ie terms that Glasenberg says he regards as fair.

It’s still odds against Glencore making an improved offer at the 11th hour, which is why the share ratio in the market is less than 2.5 times. But the temptation to try, say, three times must be acute. The Qataris, with a literal sense of what long-term investment means, sound like a trader’s nightmare.

Romney jokes about his birth certificate; Obama campaign accuses him of … – Washington Post

Category : Stocks


BBC News
Romney jokes about his birth certificate; Obama campaign accuses him of
Washington Post
COMMERCE, Mich. — Whether he meant to or not, Mitt Romney on Friday injected the toxic issue of birtherism into an already bitter presidential race at an unhelpful time for the presumptive Republican nominee. Noting that he and his wife, Ann,
Romney to back birther baggage at GOP conventionNBCNews.com
Romney Birth Certificate Remark Prompts Obama Fundraising PitchSan Francisco Chronicle
Mitt Romney brings Paul Ryan back home to MichiganDetroit Free Press
The Detroit News

Post to Twitter

Keiretsu Forum Angel Investors Spread Their Wings Toward Green and Clean Technology Launching "Pitch Me Green" to Provide Mentoring and Resources to Early Stage Ventures

Category : Stocks, World News

SAN FRANCISCO, CA–(Marketwire – Aug 2, 2012) –  Keiretsu Forum, the world’s largest private equity angel investment network, announces the launch of Pitch Me Green, commencing on Thursday, August 16th from 5:30 p.m. to 8:30 p.m. at Hanson Bridgett located at 425 Market Street, 26th floor, in San Francisco, California.

More here: Keiretsu Forum Angel Investors Spread Their Wings Toward Green and Clean Technology Launching "Pitch Me Green" to Provide Mentoring and Resources to Early Stage Ventures

Post to Twitter

Matsuzaka struggles in rehab start

Category : World News

Boston right-hander Daisuke Matsuzaka struggled in a rehab start for Triple-A Pawtucket against the Columbus Clippers on Saturday, allowing five earned runs and seven hits over 5⅓ innings.
The 31-year-old, who is working his way back from Tommy John surgery on his right elbow, gave up two home runs in a 90-pitch outing, struck out five and walked one in his fourth rehab start.

Visit link: Matsuzaka struggles in rehab start

Post to Twitter

Buffett and Munger won’t buy Facebook stock

Category : Business, Stocks

Facebook kicks off its highly anticipated IPO road show Monday, but two men who won’t be taking the pitch — legendary investor Warren Buffett and his 88-year old co-pilot Charlie Munger.

More: Buffett and Munger won’t buy Facebook stock

Post to Twitter

Obama on Reagan: a ‘wild-eyed, socialist, tax-hiking class warrior’ – ABC News

Category : Stocks


Telegraph.co.uk
Obama on Reagan: a 'wild-eyed, socialist, tax-hiking class warrior'
ABC News
Today's Republicans might view Ronald Reagan as a “wild-eyed, socialist, tax-hiking class warrior,” and the late conservative icon's views on taxes might have disqualified him from the party's nomination in 2012, President Barack Obama said Wednesday.
Obama's army of tax-paying secretariesCNN
Obama spins Buffett Rule: 'Call it the Reagan Rule'New York Daily News
Pres. Obama renews populist pitch, urges Congress to pass the “Buffett Rule”msnbc.com
USA TODAY

Post to Twitter

Muamba in critical condition

Category : World News

Bolton midfielder Fabrice Muamba was “critically ill” in a hospital’s heart attack unit on Saturday night after collapsing during a match at Tottenham that was subsequently abandoned.
The Zaire-born England under-21 international fell face-down to the pitch near the halfway line without any players near him.

Read the rest here: Muamba in critical condition

Post to Twitter

How IBM Wooed Wall Street

Category : Business

IBM sells itself to the public as the purveyor of a “Smarter Planet,” but investors have bought into a more basic pitch

Read the original: How IBM Wooed Wall Street

Post to Twitter