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Brent oil hits 11-year low as global supply balloons

Кubric: NEWS | 20 Jan 2016 | no comments yet »
Brent oil hits 11-year low as global supply balloons

Brent crude skids to lowest since 2004 | Reuters. LONDON Brent crude prices fell to their lowest in more than 11 years on Monday, hounded by a relentless rise in global supply that looks set to outpace demand again next year.With crude oil prices losing nearly 50 per cent from their peak levels and touching 11-year lows on Monday, Goldman Sachs and CLSA have said the prices could further fall to touch $20 a barrel.Profits from stockpiling crude at sea, a tactic used by oil traders in 2008 to weather the market rout, will probably remain elusive during the current slump, according to Barclays Plc. Oil production is running close to record highs and, with fresh barrels poised to enter the market ...

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UPDATE 1-Western Refining to buy rest of Northern Tier

Кubric: NEWS | 20 Jan 2016 | no comments yet »
UPDATE 1-Western Refining to buy rest of Northern Tier

JPMorgan Chase & Co. Upgrades Northern Tier Energy LP (NTI) to “Neutral”. Under the deal, Northern Tier unit holders would receive $15 a unit in cash and 0.2986 Western Refining share for each common unit held, or roughly $26.21 a unit based on Monday’s close. EL PASO, Texas and TEMPE, Ariz., Dec. 21, 2015 (GLOBE NEWSWIRE) — Western Refining, Inc. (NYSE:WNR) and Northern Tier Energy LP (NYSE:NTI) today jointly announced that they have entered into a merger agreement whereby Western will acquire all of NTI’s outstanding common units not already owned by Western. Northern Tier Chief Executive Dave Lamp in prepared remarks Monday said that the MLP model “has not been rewarded ...

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NetApp Acquiring SolidFire for $870 Million to Boost Flash

Кubric: NEWS | 20 Jan 2016 | no comments yet »
NetApp Acquiring SolidFire for $870 Million to Boost Flash

NetApp Acquiring SolidFire for $870 Million to Boost Flash. NetApp Inc. agreed to buy SolidFire Inc. for $870 million in cash to boost its presence in the growing market for systems that can retrieve and store vast amounts of data at rapid speeds. NetApp was the No. 4 player in the market for flash-storage devices, which use the same fast computer memory that’s found in smartphones and tablets, according to Gartner Inc. The company said SolidFire will add to existing offerings in solid-state, giving the company products that span three segments: enterprise infrastructure, “application owners,” and “next-generation infrastructure buyers.” NetApp plans to close the deal in the fiscal ...

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Staples says FTC rejected updated offer of Office Depot

Кubric: NEWS | 20 Jan 2016 | no comments yet »
Staples says FTC rejected updated offer of Office Depot

FTC Rejects Staples-Office Depot Deal Without a Counteroffer. Staples Inc. will have to do more to smooth government opposition to its proposed takeover of Office Depot Inc. after the U.S. rejected its latest attempt to win antitrust approval. Federal Trade Commission, the company said on Monday, thwarting again its attempt to create a larger entity better able to contend with the major changes reshaping the office supplies market. Seeking to mollify the FTC’s opposition to the deal, Staples had offered to sell off or give up $1.25 billion worth of commercial contracts, a bright spot in its otherwise pressured business. The FTC says that the tie-up of the No. 1 and No. 2 office-supply retailers ...

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Oracle settles with FTC over Java’s “deceptive” security patching

Кubric: NEWS | 20 Jan 2016 | no comments yet »
Oracle settles with FTC over Java’s “deceptive” security patching

Nearly a billion PCs run this notoriously insecure software. Now Oracle has to clean it up.. The Federal Trade Commission announced that it has won concessions in a settlement with software maker Oracle over the company’s failure to uninstall older, insecure Java SE software from customer PCs upon upgrade.Oracle, one of the nation’s largest tech companies, is settling federal charges that it misled consumers about the security of its software, which is installed on roughly 850 million computers around the world. By abandoning these legacy builds, Oracle essentially left backdoors open on the computers of its customers — backdoors well-known to potential attackers due to their widespread ...

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Oil prices keep falling — this is the reason why

Кubric: NEWS | 20 Jan 2016 | no comments yet »
Oil prices keep falling — this is the reason why

Brent crude skids to lowest since 2004 | Reuters. LONDON Brent crude prices fell to their lowest in more than 11 years on Monday, hounded by a relentless rise in global supply that looks set to outpace demand again next year.With crude oil prices losing nearly 50 per cent from their peak levels and touching 11-year lows on Monday, Goldman Sachs and CLSA have said the prices could further fall to touch $20 a barrel. Oil production is running close to record highs and, with fresh barrels poised to enter the market from the likes of Iran, the United States and Libya, the price of crude is set for its largest monthly percentage decline in seven years. Brent LCOG6, -1.79% futures for February delivery ...

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Oracle Settles FTC Charges That Java Software Left PCs Open to Hackers

Кubric: NEWS | 20 Jan 2016 | no comments yet »
Oracle Settles FTC Charges That Java Software Left PCs Open to Hackers

Drexel Hamilton Reiterates “Buy” Rating for Oracle Co. (ORCL). SAN FRANCISCO – PC users will see more warnings about the dangers of keeping outdated software on their machines, under a legal settlement negotiated by tech giant Oracle and regulators at the Federal Trade Commission.Oracle, one of the nation’s largest tech companies, is settling federal charges that it misled consumers about the security of its software, which is installed on roughly 850 million computers around the world.Oracle Co. (NASDAQ:ORCL)‘s stock had its “outperform” rating reaffirmed by analysts at Credit Suisse in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. ...

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Caterpillar hit with $73.6 mln trade secrets verdict in US

Кubric: NEWS | 20 Jan 2016 | no comments yet »
Caterpillar hit with $73.6 mln trade secrets verdict in US

Caterpillar ordered to pay $73.6M to tiny British firm for stealing design. A federal jury has ordered Peoria-based Caterpillar to pay a small British firm $73.6 million for ripping off its design for a piece of heavy-duty construction equipment.CHICAGO — Caterpillar Inc. will be required to pay $74 million in damages after a federal court jury in Chicago found the company stole trade secrets from a supplier, the Wall Street Journal reported Monday.Siblings Gary, Keith and Jacqui Miller took US construction giant Caterpillar to court in a David Vs Goliath battle over stolen trade secrets, and won, securing $74.6m in damages. The Friday verdict in the eight-week case in district court found ...

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Staples’ remedy for Office Depot rejected by US

Кubric: NEWS | 20 Jan 2016 | no comments yet »
Staples’ remedy for Office Depot rejected by US

FTC Rejects Staples-Office Depot Deal Without a Counteroffer. Staples Inc. will have to do more to smooth government opposition to its proposed takeover of Office Depot Inc. after the U.S. rejected its latest attempt to win antitrust approval. Federal Trade Commission, the company said on Monday, thwarting again its attempt to create a larger entity better able to contend with the major changes reshaping the office supplies market. Seeking to mollify the FTC’s opposition to the deal, Staples had offered to sell off or give up $1.25 billion worth of commercial contracts, a bright spot in its otherwise pressured business. Per Bloomberg Business, Staples recently offered to divest a total of ...

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Ex-RBS Bond Trader Pleads Guilty as Bond Probe Widens

Кubric: NEWS | 20 Jan 2016 | no comments yet »
Ex-RBS Bond Trader Pleads Guilty as Bond Probe Widens

Ex-RBS Bond Trader Pleads Guilty as Bond Probe Widens. A former top trader at the Royal Bank of Scotland pleaded guilty in federal court in Connecticut on Monday to one count of conspiracy to commit securities fraud as part of the government’s investigation into Wall Street bond sales practices. Adam Siegel, 37, of Riverside, waived his right to indictment and pleaded guilty on Monday in Hartford federal court to participating in a multi-million securities fraud scheme. Adam Siegel’s plea is an indication that the government is continuing a crackdown on deceptive practices in the bond market even after an appeals court threw out the conviction of former Jefferies & Co. trader Jesse ...

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