Crude Jumps On Likely Extension of OPEC Cuts

Crude Jumps On Likely Extension of OPEC Cuts

Oil prices settled up 2% on Wednesday as traders and investors ignored a build in U.S. crude stockpiles from last week to focus on the likelihood of OPEC extending crude production cuts when it meets later this week to assess price support measures. The U.S. government’s Energy Information Administration (EIA) said domestic crude inventories rose by 4.6 million barrels for the week ended Sept. 15 as supply balances for unprocessed […]

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Bond Prices Crater as FOMC on Track For Year-End Hike

Bond Prices Crater as FOMC on Track For Year-End Hike

U.S. Treasury prices cratered on the two- and five-years with the 10-year chasing behind while the long bond outperformed (but hardly budged) following the Federal Open Market Committee (FOMC) statement. Also an influence were the Summary of Economic Projections (SEP) and plans for rate-normalization to begin in October. The two-year took the brunt of the sell-off, swinging back to the lowest levels since October 2008 as Fed Chair Janet Yellen […]

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Dollar General’s Earnings and Sales Top Analyst Estimates as Shoppers Spend More

Dollar General’s Earnings and Sales Top Analyst Estimates as Shoppers Spend More

Dollar General (DG), a US discount store chain, reported earnings and sales for its fiscal second quarter that exceeded the estimates of Wall Street analysts as shoppers made more trips to its outlets and spent more per transaction. Net income totaled $295 million, or $1.08 a share, in the quarter ended Aug. 4, compared with $307 million, or $1.08 a share, in the year-earlier period, the Goodlettsville, Tennessee-based retailer, said […]

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Gold Standard Ventures Acquires Battle Mountain Gold

Gold Standard Ventures Acquires Battle Mountain Gold

Gold Standard Ventures said Wednesday that it has entered into a definitive agreement to acquire all of the issued and outstanding common shares of Battle Mountain Gold Inc. for consideration of 0.1891 of a common share of Gold Standard plus $0.08 in cash for each Battle Mountain common share held. Battle Mountain is a company focused on acquiring, exploring and developing precious metals projects in geological districts with potential for […]

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Xerox Unveils Initial Settlement of Offers to Exchange Outstanding Notes

Xerox Unveils Initial Settlement of Offers to Exchange Outstanding Notes

Xerox (XRX), a provider of business support services, unveiled late Friday the initial settlement of its offer to buy back $300 million in debt and exchange an additional $300 million of existing debt for new 4.070% senior notes due March 17, 2022. Xerox delivered on Friday an aggregate principal amount of $300 million of new notes and paid an aggregate of $322 million cash consideration. This settlement is for existing […]

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