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Shell to Sell Nigeria Onshore Oil Business for Up to $2.4 Billion
Updated Jan. 16, 2024 5:42 am ET Shell has agreed to sell its Nigerian onshore oil subsidiary for up to $2.4 billion, making good on a promise to exit what was for decades one of its most dependable cash cows but in recent years has become a big drag on its reputation. The London-based energy … Read more
Israeli Military Near End of Most Intense Phase of Gaza Fighting, Defense Minister Says
Updated Jan. 15, 2024 3:19 pm ET The Israeli military is close to completing its most intensive phase of fighting against Hamas in the Gaza Strip, Israel’s defense minister said Monday, warning that the lack of a plan for postwar Gaza could hurt the military campaign. In northern Gaza, the most intensive phase of fighting … Read more
What’s Ahead for the Stock Market and Economy in 2024? Roundtable Pros Weigh In.
It is always a stockpicker’s market. You just have to pick the right stocks. If you picked the so-called Magnificent Seven last year—a group of highflying, mostly tech stocks that powered the S&P 500 index to a 24% gain—you looked in the mirror and beheld a genius. This year, it might be wise to avoid … Read more
Distil PLC Revenue, Volumes Rose on Business Remodel
Published: Jan. 10, 2024 at 2:55 a.m. ET By Ian Walker Distil PLC said third-quarter revenue rose 39% while volumes rose 10% as it benefits from the business remodel in 2022, and that it expects to build on this growth over the fourth quarter of the fiscal year. The London-listed spirits producer–which houses the RedLeg … Read more
Boeing, Aviation Stocks Fall After Rough Start to Year for Air Travel
Updated Jan. 8, 2024 2:26 pm ET A burning inferno on the runway, followed four days later by a midair emergency involving a gaping hole in the side of the plane, isn’t the way the airline industry wanted to start 2024. After a fraught 2023, in which safety specialists and regulators raised alarms about mounting … Read more
Nation’s Biggest Hospital Landlord Suffers New Losses
Medical Properties Trust, the country’s largest hospital landlord, said it would record about $350 million of write-downs related to its largest tenant, which had fallen behind on its rent, and hired a well-known restructuring adviser. MPT, which had long supported Dallas-based Steward Health Care System, said more write-downs are possible. The news, released Thursday after … Read more
Hong Kong’s IPO Drought Casts Pall Over Region’s Businesses
Updated Jan. 3, 2024 6:23 am ET A dearth of initial public offerings in Hong Kong is causing companies to suffer cash crunches and put off expansion plans, showing how the steep market downturn is taking a toll on businesses that need to raise money. The Asian financial hub was for years the top international … Read more
Baidu Terminates $3.6B Deal to Buy JOYY’s China Live-Streaming Business
Published: Jan. 1, 2024 at 6:37 p.m. ET By P.R. Venkat Baidu has called off a $3.6 billion deal to buy JOYY’s video-based entertainment live-streaming business in China. As of the end of December, the closing conditions for the share purchase agreement had yet to be fully satisfied, Baidu said in a filing late Monday. … Read more
Israel Reshuffles Forces, Prepares for Long-Term Conflict in Gaza
By Carrie Keller-Lynn, Saeed Shah and Anat Peled Updated Jan. 1, 2024 2:45 pm ET Listen to article (2 minutes) TEL AVIV—Israel began preparations for prolonged fighting in the Gaza Strip, reshuffling forces as it weighs how to sustain lower-intensity fighting over the long term. Israel’s top general said that it would take at least … Read more