Latest news for BlackRock Global Allocation Inv A(MDLOX) (See analysis on MDLOX)
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Monday May 30th 2016: Latest financial news from the worldEuropean shares hit one-month high, dollar firms on Yellen's hike hint
European shares hit one-month highs on Monday, while the dollar index rose to a two-month peak after Federal Reserve Chair Janet Yellen suggested that an interest rate hike in the United States may be around the corner. The Fed should raise rates "in the coming months" if growth picks up and the labor market continues to improve, Yellen said on Friday. St. Louis Fed President James Bullard chimed in, saying on Monday, global markets appear to be "well-prepared" for a summer rate hike, although he did not specify a date for the policy move.
Fed's Bullard says global markets seem well-prepared for summer rate hike
By Christine Kim and Se Young Lee SEOUL (Reuters) - St. Louis Federal Reserve President James Bullard said on Monday global markets appear to be "well-prepared" for a summer interest rate hike from the Fed, although he did not specify a date for the policy move. "My sense is that markets are well-prepared for a possible rate increase globally, and that this is not too surprising given our liftoff from December and the policy of the committee which has been to try to normalize rates slowly and gradually over time," Bullard told a news conference after speaking at an academic conference in Seoul. "So my ideal is that if all goes well this will come off very smoothly." Bullard added a rebound in U.S. GDP growth seems to be materializing in the second quarter, but reserved his opinion on whether the Fed should hike in June or July for the next policy meeting at the U.S. central bank.
Boeing set to win $2.9 billion contract from UK MoD: the Telegraph
(Reuters) - Boeing Co is set to win a 2-billion-pound ($2.92 billion) contract from the UK Ministry of Defence (MoD) for new Apache helicopters, the Telegraph reported. The MoD has decided to give Boeing a 50-aircraft contract, including servicing, and the announcement could come as early as July, the newspaper said. U.S. planemaker Boeing is offering the helicopters at a lower price by tacking them on to the end of a larger Apache order from the US military, the paper added.
Data analysis from Paris raid on Google will take months, possibly years: prosecutor
By Chine Labbé PARIS (Reuters) - Analysis of data seized by investigators in last week's raid of Google's Paris headquarters could possibly take years, French financial prosecutor Eliane Houlette said on Sunday. Dozens of French police raided Google's offices on Tuesday, escalating an investigation over suspected tax evasion. "We have collected a lot of computer data," Houlette said in an interview with Europe 1 radio, TV channel iTele and newspaper Le Monde, adding that 96 people took part in the raid.
Oil prices dip on strong dollar, rising Canadian output
Oil prices dipped on Monday as a strong dollar weighed on markets and Canadian oil sands production was expected to increase this week. U.S. West Texas Intermediate (WTI) crude futures were trading at $49.22 per barrel at 0656 GMT (02:56 a.m. EDT), down 11 cents from their last settlement. The dollar hit a one-month high against the yen on Monday and stood tall against other leading currencies after comments by Federal Reserve Chair Janet Yellen increased the likelihood of a near-term U.S. interest rate hike.
How Wellcome and Gates charities profit from helping biotech
The Wellcome Trust medical charity is to profit from U.S. approval of a new diagnostic cancer test, the first commercial product funded by the organization since the sale of its pharmaceuticals business to Glaxo in 1995. The Bill & Melinda Gates Foundation recently made a $80 million profit from selling a stake in Anacor Pharmaceuticals , a firm it had backed for its work on neglected diseases, which is now being bought by Pfizer . With an endowment of $40 billion, the Gates foundation is the world’s largest charity, while Wellcome has an 18 billion pound ($26 billion) investment portfolio.
Bourbon maker Brown-Forman shares seen expensive
Shares of Brown-Forman , which makes Jack Daniel's and other liquors, are seen as pricey as the world's top bourbon seller faces slowing growth in an increasingly crowded field, Barron's said in its latest online edition. Brown-Forman's stock had delivered annual gain of 12.5 percent in the past decade including dividend, outpacing the Standard & Poor's 500 index by 5 percent points, the financial weekly paper said.
ConAgra Foods stock seen rising 30 percent: Barron's
ConAgra Foods' stock could climb up to 30 percent in the coming months as the U.S. packaged food company seeks to shed businesses, improve existing brands and achieve lower overheads, Barron's said in its latest online edition. After ConAgra sold its Spicetec Flavors & Seasonings for about $340 million to Givaudan last week, Barron's said analysts speculate it might consider sales of other brands including Lamb Weston, its commercial frozen potato business. Without Lamb Weston, the Omaha-based company would remain the second biggest U.S. frozen entree producer and top maker of shelf-stable meals with $9 billion in annual revenue, the paper said.
Dalian Wanda makes $4.4 billion offer to take Hong Kong-listed property arm private
China's Dalian Wanda Group is offering $4.4 billion in cash to buy out Hong Kong-listed unit Dalian Wanda Commercial Properties , part of a plan to take it private before relisting it in Shanghai where it hopes to gain better valuations. Mainland-listed firms typically command higher valuations than those in Hong Kong, helped by a large pool of retail investors. The move comes just 15 months after Wanda Commercial's market debut.
AirAsia has had $1 billion takeover offer for leasing unit: report
Asia's largest budget airline AirAsia Bhd has received a $1 billion offer for its aircraft leasing unit, Bloomberg News quoted Chief Executive Tony Fernandes as saying. AirAsia intends to divest the business, Asia Aviation Capital Ltd, at some point, Fernandes told Bloomberg on Monday but added that the offer needs to be discussed further with the board. Reuters reported in October that AirAsia has been in talks with lessors, including cash-rich Chinese companies, to sell a stake in its leasing subsidiary.
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