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Search resuls for: "Robert Cyran"

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Venezuelan oil offers little to U.S. or Chevron
  + stars: | 2022-11-28 | by ( Robert Cyran | )   time to read: +3 min
NEW YORK, Nov 28 (Reuters Breakingviews) - U.S. President Joe Biden is open to Venezuelan oil. Over the weekend, the Treasury Department issued $355 billion oil giant Chevron (CVX.N) a license to resume limited production in the country. But between the dirty Venezuelan oil and decrepit fields, the help is limited. Steadily tightening sanctions led to the country’s oil production falling by about three-quarters over the years. Follow @rob_cyran on TwitterloadingCONTEXT NEWSThe United States eased sanctions on Venezuela on Nov. 26 by granting a license to Chevron to resume production and importation of Venezuelan oil.
Clean-energy deal seals fate for cross-border M&A
  + stars: | 2022-11-09 | by ( )   time to read: +2 min
NEW YORK, Nov 9 (Reuters Breakingviews) - A strong dollar may tempt U.S. companies to shop abroad, but a deal unveiled on Wednesday will take any remaining steam out of such notions. The war in Ukraine, inflation and other factors already have hit cross-border M&A. Roughly $1 trillion of cross-border deals have been announced this year, a nearly 40% drop from a year earlier, per Refinitiv. Such risks probably help explain why Chart lost $2 billion in market capitalization, despite $250 million a year of promised cost savings. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
IPhone plant woes are least of Apple’s problems
  + stars: | 2022-11-07 | by ( Robert Cyran | )   time to read: +3 min
But problems there look pale in comparison to other issues caused by Apple’s own consumers. The company led by Tim Cook warned on Nov. 6 that disruption at the Zhengzhou complex has lowered shipments of high-end iPhone 14 Pro phones. Apple recently put on ice plans to increase production of the newly launched iPhone 14. But last quarter, sales of services rose just 5%, a huge step back from the 25% jump in sales in the same quarter in 2021. Follow @rob_cyran on TwitterCONTEXT NEWSApple warned on Nov. 6 that shipments of iPhone 14 Pro and iPhone 14 Pro Max have been disrupted by production woes at a Hon Hai Precision Industry complex in Zhengzhou, China.
Exxon and Apple are in a similar boat
  + stars: | 2022-10-28 | by ( Robert Cyran | )   time to read: +3 min
NEW YORK, Oct 28 (Reuters Breakingviews) - Exxon Mobil (XOM.N) might be able to give Apple (AAPL.O) a lesson in disruption. Exxon’s profit was nearly triple last quarter what it was in the same quarter last year, and it wasn’t alone. Oil investors have been clear that they want discipline, as demand will likely peak soon if it hasn’t already. That means Exxon will presumably never reclaim its crown as the world’s most valuable firm, and Apple still earned far more than the company in the past year. Exxon earned $19.7 billion in the quarter, nearly tripling what it earned in the same period last year.
Westinghouse deal will overpower immediate fallout
  + stars: | 2022-10-12 | by ( Robert Cyran | )   time to read: +4 min
NEW YORK, Oct 12 (Reuters Breakingviews) - A mushroom cloud is rising over a $7.9 billion nuclear deal. Brookfield Renewable Partners (BEP.N) and Cameco (CCO.TO)agreed to buy Westinghouse Electric, sending the Canadian uranium miner’s shares tumbling by 15% on Wednesday. All told, this nuclear deal should be able to power through the immediate fallout. Brookfield Business Partners bought the company in 2018, after Westinghouse filed for bankruptcy protection from creditors the previous year. Brookfield Business Partners said it expects proceeds from the deal to equal six times its invested capital when combined with distributions received to date.
Biogen’s $11 bln Alzheimer’s gain has cushion
  + stars: | 2022-09-28 | by ( Robert Cyran | )   time to read: +3 min
NEW YORK, Sept 28 (Reuters Breakingviews) - An effective treatment for Alzheimer’s disease has long been the holy grail for drug companies. The $11 billion pop in Biogen’s (BIIB.O) market capitalization on Wednesday morning looks impressive but implies some skepticism that Japan’s Eisai (4523.T), and its partner Biogen, have found it. If the drug is priced at $20,000 a patient annually after discounts, it implies around 330,000 take it. Considering the disease affects far more people globally and there are no effective treatments, this seems like a low bar. Eisai will present the study’s results in late November and said it will publish the results in a peer-reviewed journal.
Gold will keep losing its irrational luster
  + stars: | 2022-09-27 | by ( Robert Cyran | )   time to read: +3 min
NEW YORK, Sept 27 (Reuters Breakingviews) - Imagine telling gold bugs a decade ago that a pandemic, war in Europe and 8% U.S. inflation were coming. Believers say gold has been a store of value for millennia and offers a hedge against inflation and societal problems. While gold bulls worry about central banks debasing currencies by printing more, miners also keep extracting gold. About 205,000 tonnes worth some $11 trillion is held above ground and annual production has increased 26% since 2010, according to the World Gold Council. It was $1,763 a decade ago, according to the World Gold Council.
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