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Showing posts with label 2017 at 07:54PM. Show all posts
Showing posts with label 2017 at 07:54PM. Show all posts

Thursday, June 8, 2017

CMC Markets results better than feared, but regulatory outlook divides analysts – DIGITALLOOK

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DIGITALLOOK
CMC Markets results better than feared, but regulatory outlook divides analysts
DIGITALLOOK
“Clearly regulatory change is likely to have some impact on the business but we believe we are well positioned to benefit from market share gains in the medium to long term, with our ability to adapt our leading proprietary technology and focus on

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June 08, 2017 at 07:31PM

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Thursday, June 1, 2017

Deep Water Drilling Costs Have Collapsed, Paving the Way for Renewed Activity in the Gulf

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The poor lads at OPEC can’t catch a break. They keep slashing production and American shalefags keep offsetting the supply dynamics through wanton drilling. Now, out of nowhere, deep water drilling costs are collapsing, which has led to a resurgence in the practice.

The old line in the sand for deep water drilling used to be $100 per barrel. Since the, austerity corrected the wayward spending habits of overzealous drillers. Now we’re looking at $40 per barrel as being the break even point.

“There is life in deep-water yet,” said Angus Rodger, director of upstream Asia-Pacific research at Wood Mackenzie in Singapore. “When oil prices fell, many projects were deferred, but the ones that were deferred first were deep-water because the overall break-evens were highest. Now in 2017, we’re seeing signs that the best ones are coming back.”

Recent projects include Kaikias in the Gulf of Mexico by Royal Dutch Shell, with a break even of below $40. BP, the fucking destroyer of the GOM, is starting a new asshole project, ironically dubbed ‘Mad Dog Phase 2’ that will cost $9b, down from $20b.

According to Transocean, a total of 8 offshore projects are set for approval over the next three years — all with breakevens below $50.

Rental rates for rigs have been halved since 2014, leading many experts to believe a bottom might be in for the sector. If so, there are a slew of deep water drillers worth looking at whose shares have been obliterated — namely RIG (-37%), HP (-32%), NBR (-47%), OAS (-36%), WLL (-41%), ESV (-35%) and BBG (-51%).

The post Deep Water Drilling Costs Have Collapsed, Paving the Way for Renewed Activity in the Gulf appeared first on Trading with The Fly.

June 01, 2017 at 07:46PM

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from Dr. Fly

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Does FIN 48 improve firms’ estimates of tax reserves?

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Abstract

This paper examines whether the increased accounting guidance and reporting requirements of FIN 48 impact the adequacy and accuracy of tax reserves and the effect of auditor-provided tax services on tax reserves. While we do not find FIN 48 affected the adequacy or accuracy of tax reserves on average, FIN 48 eliminated the differences in the tax reserve adequacy of firms with and without auditor-provided tax services that existed prior to its adoption. We also find evidence of less premature releasing of tax reserves post-FIN 48. Our evidence is consistent with an increase in the comparability of reserves for firms that do and do not purchase auditor-provided tax services, consistent with one of the FASB’s objectives for FIN 48.

This article is protected by copyright. All rights reserved.

June 01, 2017 at 07:36PM

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from Cristi A. Gleason, Lillian F. Mills, Michelle L. Nessa

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United States Jun Markit Mfg Pmi Final Increase to 52.7 Vs Prev 52.5

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UNITED STATES JUN MARKIT MFG PMI FINAL INCREASE TO 52.7 VS PREV 52.5
The material has been provided by InstaForex Company – www.instaforex.com

June 01, 2017 at 07:48PM

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Can This Leisure Group Cruise Higher? Cramer Thinks So

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Cruise stocks have been red-hot this year, but seem to be flying under the radar. But investors should consider picking up a few of the cruise stocks, at least according to CNBC’s Jim Cramer.

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June 01, 2017 at 07:44PM

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from Jayson Derrick

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DICK’S Sporting Goods Expands Team Sports HQ by Announcing Strategic Partnership with US Youth Soccer®

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DICK'S Sporting Goods Logo. (PRNewsFoto/DICK'S Sporting Goods)PITTSBURGH, June 1, 2017 /PRNewswire/ — DICK’S Sporting Goods (NYSE: DKS) announced today a multi-year, strategic partnership with US Youth Soccer, the largest member of the United States Soccer Federation, and its DICK’S Team Sports HQ youth sports platform.
As the Official…

June 01, 2017 at 07:46PM

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*U.S. Construction Spending Slumps 1.4% In April

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U.S. Construction Spending Slumps 1.4% In April

The material has been provided by InstaForex Company – www.instaforex.com

June 01, 2017 at 07:48PM

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$WNR @westernrefining #westernrefining, is it time to find #women for your board? #womenonboards #corpgov

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3UHjObyY_normal.jpg

WomenServeOnBoards
@BoardsWomen

$WNR @westernrefining #westernrefining, is it time to find #women for your board? #womenonboards #corpgov

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June 01, 2017 at 07:38PM

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from WomenServeOnBoards


Monday, May 15, 2017

EQT sells Bureau van Dijk to Moody’s for $3.3 bln

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EQT said May 15 that it agreed to sell Bureau van Dijk to Moody’s Corp in a deal valued at 3 billion euros ($3.3 bln). Bureau van Dijk, of Amsterdam, provides a private company dataset that covers more than 220 million companies. Quayle Munro and J.P. Morgan represented the sellers. Moody’s Corp is parent of Moody’s Analytics and Moody’s Investors Service.

PRESS RELEASE

EQT VI Limited (“EQT VI”) has entered into an agreement to sell Bureau van Dijk (or the “Company”) to Moody’s Corporation (“Moody’s”) for an enterprise value of EUR 3.0 billion. Bureau van Dijk, operating from its Amsterdam headquarters, captures, treats, standardizes, and distributes the world’s richest private company dataset, with coverage of more than 220 million companies. Over some 30 years, the Company has built partnerships with over 160 independent information providers, creating a platform that connects customers with data, to address a wide range of business challenges.

EQT VI acquired Bureau van Dijk in September 2014 with a mission to further expand its leading market position and accelerate growth. The Company has undergone a significant transformation under EQT VI’’s ownership through several key initiatives:

– Development of the organisational structure to prepare for further growth

– Investments in the sales organization, including the introduction of a matrix sales structure, implementation of a global CRM system, and expansion of the salesforce

– Strong focus on the development of new products and continued improvement of existing ones, e.g. the launch of a new user interface

– Substantial investments in marketing and corporate branding

The growth initiatives during EQT VI’s ownership have resulted in strong financial performance, with Bureau van Dijk generating revenues of EUR 258 million and EBITDA of EUR 132 million in 2016.

“Bureau van Dijk has continued to strengthen its market leading position while accelerating financial growth. This development exemplifies EQT’s industrial and growth-focused approach, aimed at supporting management teams in making very good companies even better. The journey continues for Bureau van Dijk – this transaction has a compelling strategic rationale and provides great opportunities for the future. The management team has done an impressive job and we look forward to seeing Bureau van Dijk continue to develop as a part of Moody’s”, says Kristiaan Nieuwenburg, Partner at EQT Partners and Investment Advisor to the EQT VI fund.

“Over the past three years we have been on an exciting and transformational journey with the support of EQT and their industrial experts. We are now delighted to join forces with Moody’s and continue to develop our business”, says Mark Schwerzel, Deputy CEO of Bureau van Dijk.

Moody’s Corporation is the parent company of Moody’s Analytics, which offers leading-edge software, advisory services and research for credit and economic analysis and financial risk management, and Moody’s Investors Service, which provides credit ratings and research covering debt instruments and securities.

The agreement is subject to customary anti-trust clearance and the transaction is expected to close in the third quarter of 2017.

The sellers were represented by Quayle Munro and J.P. Morgan.

Contacts

Kristiaan Nieuwenburg, Partner at EQT Partners, Investment Advisor to EQT VI, +31 20 262 40 01

EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

U.S Media: Daniel Yunger / Ross Lovern – KEKST – 212.521.4800

EQT is a leading alternative investments firm with approximately EUR 35 billion in raised capital across 22 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More information: www.eqtpartners.com

About Bureau van Dijk

Bureau van Dijk captures and treats private company information for better decision making and increased efficiency. Its products combine data from regulatory and other sources, including over 160 information providers, to deliver the richest, most reliable private company information, corporate structures, beneficial ownership and deal information in the market. Bureau van Dijk’s Orbis database provides information on 220 million private companies in all countries worldwide. Orbis also incorporates powerful software and contemporary data visualisation tools to help users interrogate and manipulate the information for a range of research needs.

More information: www.bvdinfo.com

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May 15, 2017 at 07:50PM

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from Luisa Beltran

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