Financial News

MSOC: App State 0, Georgia State 0 (Final Stats/Recap)
October 7, 2018
AP-NC Newswatch
October 8, 2018
Financial News





Stocks slip…Merger interest wanes…GE subsidiary purchases oil stake


BEIJING (AP) – Global stocks declined Monday on investor concerns about more possible U.S. interest rate hikes. Futures point to a lower opening on Wall Street. Benchmark U.S. crude oil fell to just above $73.50 per barrel. The dollar edged down against the yen and gained against the euro.


LONDON (AP) – A leading adviser on international corporate deals says executives around the world are cooling to the idea of mergers and acquisitions in the face of rising trade tensions, notably between the U.S. and China. In its half-yearly assessment of corporate mergers and acquisitions, EY found that only 46 percent of executives are planning a takeover in the next 12 months. That’s down 10 percentage points from a year ago and marks the lowest level in four years.


DUBAI, United Arab Emirates (AP) – A subsidiary of General Electric Co. has agreed to purchase a 5-percent stake in the drilling arm of Abu Dhabi’s state oil company for $550 million. The deal announced on Monday with Baker Hughes values the drilling subsidiary of Abu Dhabi National Oil Co. at around $11 billion. ADNOC says that valuation includes some $1 billion in debt. It also marks the first time Abu Dhabi has sold a stake in its businesses to a foreign interest.


UNDATED (AP) – One Championship says it has closed a $166 million financing round led by Sequoia Capital, pushing the Asian mixed martial arts promotion’s total capital base past $250 million. The Singapore-based promotion announced its latest equity investment Monday. One Championship claims to be the largest sports media property in Asia, staging regular live shows that are viewed on television across the region and worldwide online. The promotion has added boxing and kickboxing matches to its busy slate of MMA shows in recent months.


NEW YORK (AP) – In a weekend of perfect counterprogramming for Hollywood, the comic-book movie “Venom” shrugged off bad reviews to shatter the October box-office record with an $80 million debut, while Bradley Cooper’s “A Star Is Born” soared to $41.3 million. With $174.5 million in tickets sold at U.S. and Canadian theaters, according to comScore, it was easily the best October weekend ever thanks to two very different films that both outperformed expectations. “Smallfoot,” “Night School,” and “The House With a Clock in Its Walls” rounded out the top five.



AP-WF-10-08-18 1035GMT