April, 2018

• 9 April

  Sequoia Fund takes Facebook stake after ‘recent controversy’

  

  Bloomberg The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. “The recent controversy enabled us to purchase a very unusual business franchise riding several powerful secular trends at a price-earnings multiple only a little higher than that of the overall ...

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• 9 April

  Viacom asks CBS to raise merger bid by $2.8 billion

  

  Reuters Viacom Inc has asked CBS Corp to sweeten its merger bid by about $2.8 billion or almost a quarter more than CBS’s offer, people familiar with the matter said, indicating the wide gap in the US media firms’ price expectations. National Amusements Inc, the Redstone family company that controls CBS and Viacom, has pushed them to negotiate a merger ...

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• 9 April

  Dell’s Pivotal Software expects IPO to raise up to $592 million

  Reuters Pivotal Software Inc, a division of Dell Technologies Inc, said on Monday it expects its initial public offering of 37 million Class A shares to raise up to $592 million. Pivotal Software said it expects the offering to be priced between $14 and $16 per share. The company, which plans to list on the New York Stock Exchange under ...

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• 9 April

  ‘Trade war impact on copper short-term’

  SANTIAGO / Reuters A looming trade war between the United States and China will fuel near-term volatility for copper prices, but strong demand and tight supply for the metal will bolster long-term market fundamentals, the head of Anglo-American’s copper division said in an interview. The price of the red metal has fluctuated along with other financial commodities in recent weeks ...

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• 9 April

  UK regulator urges EU Brexit coordination

  

  LONDON / Reuters Britain’s financial watchdog called on Monday for immediate coordination with European Union counterparts to ensure that Brexit is as smooth and stable as possible for markets. The Financial Conduct Authority (FCA) has said financial firms should feel comfortable about relying on a transition deal agreed last month between Britain and the EU. This covers the period between ...

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• 9 April

  UK house prices jumped in March, activity ‘subdued’

  Bloomberg UK home prices jumped to a record in March, though the larger picture of a slowdown is unchanged, according to Halifax. Values surged 1.5 percent from February, to an average 227,871 pounds ($321,600), the lender said in a report published on Monday. But over the first quarter, prices were stagnant, it said, adding that activity has “softened” compared with ...

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• 9 April

  Hawkish Bolton ruins Iran’s nuclear holiday

  

  Bloomberg As President Donald Trump threatens to tear up the Iran nuclear deal and tensions flare across the Mideast, his hawkish new national security adviser is preparing to start work. John Bolton, a veteran of Republican administrations who’s called for military action to stop Iran from getting a nuclear bomb, takes over the key White House position on Monday, just ...

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• 9 April

  Britons back vote between May’s Brexit deal, staying in EU

  

  Bloomberg A majority of Britons support holding a vote on the final Brexit deal secured by Prime Minister Theresa May, according to a YouGov poll conducted for the pro-remain group Best for Britain. Those saying the public should have the final say on whether to accept the Brexit deal or remain in the European Union exceeded opponents by 8 percentage ...

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• 9 April

  Nigeria’s Buhari seeks re-election

  ABUJA / Reuters Nigeria’s President Muhammadu Buhari confirmed on Monday he will seek another term in elections next year, ending months of speculation about his future after bouts of ill health. The 75-year-old said he would seek his party’s presidential ticket to contest elections in February 2019 during a closed door meeting of the national executive committee of his All ...

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• 9 April

  US confirms Kim’s denuclearisation talks

  

  Bloomberg The US has confirmed that Kim Jong Un is willing to talk to President Donald Trump about getting rid of his nuclear weapons, as South Korea claimed when it passed along the North Korean leader’s offer for a historic meeting, according to an administration official. Whether or not Kim had genuinely offered to discuss dismantling his nuclear programme was ...

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