Latest news for Prudential Jennison 20/20 Focus A(PTWAX) (See analysis on PTWAX)
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Tuesday May 24th 2016: Latest financial news from the worldBayer defies critics with $62 billion Monsanto offer
By Ludwig Burger and Georgina Prodhan FRANKFURT (Reuters) - German drugs and crop chemicals group Bayer AG has offered to buy U.S. seeds company Monsanto for $62 billion in cash, defying some of its own shareholders in a bid to grab the top spot in a fast-consolidating farm supplies industry. Monsanto Co's stock ended trading up 4.4 percent at $106 on the New York Stock Exchange on Monday, well below Bayer's $122 per share cash offer price, in a sign that it faces a tough task convincing the St. Louis-based company to sign off on the deal. Monsanto has said it would review the proposal.
Fed's Bullard: rates too low for too long could be risky
U.S. interest rates being kept too low for too long could cause financial instability in future and stronger market expectations for a rate rise are "probably good", St. Louis Federal Reserve President James Bullard said on Monday. A relatively tight labor market in the United States may also exert upward pressure on inflation, raising the case for higher interest rates, Bullard added. "I do worry that keeping rates too low for too long could feed into future financial instability even if it doesn't look like we're in that situation today," Bullard, a voting member of the Fed's policy-setting committee, told reporters.
Asian stocks near 11-week lows, dollar bounces on Fed rate view
By Saikat Chatterjee HONG KONG (Reuters) - Asian shares stumbled to near 2-1/2-month lows on Tuesday and the U.S. dollar pared some of its recent losses as investors worried about the likelihood of a U.S. interest rate increase in coming weeks. MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.5 percent, taking its losses to more than 7 percent so far this month and nearing its lowest levels since March 9. "The market seems to be taking a cautious stance ahead of the Fed Chair Janet Yellen's speech later this week," said Jung Sung-yoon, a foreign exchange analyst at Hyundai Futures.
Oil prices fall below $48 as dollar gains, but possible stock drawdown supports
Doubts mount over merger of health insurers Anthem, Cigna
Cigna shares closed down 4 percent at $126.15, well below Anthem's original $188 per share offer of cash and stock announced last July. "The market is telling you that it feels the probability of the deal is significantly less than 100 percent," Morningstar analyst Vishnu Lekraj said in a telephone interview. Anthem's bid for Cigna followed close on the heels of Aetna Inc's proposed $34 billion purchase of Humana Inc .
Swiss attorney general opens criminal proceedings against bank BSI
ZURICH (Reuters) - Switzerland's Office of the Attorney General (OAG) has opened criminal proceedings against Swiss bank BSI in connection with embattled Malaysian state fund 1Malaysia Development Berhad (1MDB), it said on Tuesday. "The OAG suspects deficiencies in the internal organization of the BSI SA bank," the OAG said in a statement. "It is believed that due to these deficiencies, the bank was unable to prevent the commission of offences currently under investigation in the criminal proceedings relating to 1MDB. ...
South Korea's Mando in talks to supply parts for Tesla's Model 3: source
Mando Corp is in talks with Tesla Motors to supply parts for its Model 3 car, an industry source said, as it seeks to join other South Korean firms supplying components for Tesla's more affordable electric cars. Mando, which makes steering, brake and suspension parts, currently supplies steering racks for Tesla's Model S vehicles. A Tesla spokesperson was not immediately available for comment.
NY lawmaker warns on U.S. financial security after SWIFT attacks
Recent hacks of international banks through the SWIFT messaging system raise serious questions about cyber-related risks to U.S. firms, Representative Carolyn Maloney wrote on Monday in a letter to the country's top banking regulators that asked about measures to strengthen systems' security. Maloney, a Democrat who represents part of Manhattan - home to many people employed in finance and banking - wrote to Federal Reserve Chair Janet Yellen, U.S. Comptroller Thomas Curry and Federal Deposit Insurance Corporation Chairman Martin Gruenberg that she remains "deeply concerned about U.S. banks' exposure to these new, sophisticated cyber attacks." The SWIFT network that allows banks to process billions of dollars in transfers each day is considered the backbone of international banking.
Tribune gets $70.5 million investment, rejects Gannett offer
(Reuters) - Tribune Publishing Co , owner of the Los Angeles Times and the Chicago Tribune, said Los Angeles billionaire Patrick Soon-Shiong has invested $70.5 million in the company, becoming its second largest shareholder. Tribune also rejected Gannett Co Inc's latest takeover offer of $15 per share, but said on Monday that it would allow Gannett, the publisher of USA Today, access to some confidential corporate information. Soon-Shiong, through his fund Nant Capital LLC, will hold about 12.9 percent in Tribune and join the publisher's board as vice chairman on June 2.
Production of Coke halted in Venezuela for lack of sugar
(Reuters) - The Venezuelan bottler of Coca-Cola has halted production of the sugar-sweetened beverage due to a lack of sugar, a Coca-Cola Co spokeswoman said on Monday. Venezuela is in the midst of a deep recession, and spontaneous demonstrations and looting have become more common amid worsening food shortages, frequent power cuts and the world's highest inflation. Production of sugar-sweetened drinks has stopped, but output of diet drinks such as Coca-Cola light and other zero-sugar beverages continued, spokeswoman Kerry Tressler wrote by email.
Facebook finds 'no evidence' of political bias in Trending Topics
UE's updated Roll speaker brings a volume and range boost
Olympus joins the action camera race with its Stylus TG-Tracker
Vizio's cheaper tablet-controlled 4K TVs start rolling out
New, thinner Macbook Pros will reportedly have an OLED touch bar
'Ori and the Blind Forest' finally makes its way to retail
DJI drones can start streaming live aerial videos on Facebook
Watch the most powerful x-ray laser zap droplets of water
Facebook auto-translates 200 million lines of text every day
Are Facebook Fan Pages Dead?
Have you ever had any the following questions:"Are Facebook Fan Pages dead?!" "My reach is SO low, does anyone even see my stuff?""Does it matter how often I post on my fan page? No one sees it anyway!"These are some of the MOST common questions my clients ask me about social media marketing. With over a billion users, Facebook is the marketers...
Geek Squad employee allegedly searched PCs for the FBI
Should Leaders Focus On Results or People?
People often debate what makes a better leader: the no-nonsense, results-focused type or the motivational, people-focused type. New research has provided the answer -- neither.James Zenger surveyed over 60,000 employees to see which leadership characteristics made leaders "great" in the eyes of their employees. Two of the characteristics that...
What's on your HDTV: 'Overwatch,' 'Chef's Table'
'Romancing SaGa 2' is out for mobile devices this week
How to control VLC media player from your Android device
ATM hacking spree nets thieves $12.7 million in two hours
App market may hit $100 billion by 2020 with help from big data
Facebook Live adds nonstop, 24-hour video
Polaroid's first smart TVs pack 4K and Google Cast
Snapchat does something useful, lets you buy 'X-Men' tickets
Amazon no longer offers refunds for after-the-sale price drops
NASA is building the next Mars rover in mixed reality
ESPN and 'League of Legends' studio aren't making a broadcast deal
How to share files easily and quickly with Send Anywhere
Facebook Live video replays will highlight the best moments
Configure Outlook's Calendar view to suit your work routine
To the Women of California: Cora Will Pay Your Tampon Tax
As the Founder of Cora, a San Francisco-based startup offering premium organic tampons, and an advocate for global women's rights, I've observed the genesis of the "tampon tax" opposition movement for over a year. I've followed California's position on its own version of the tax, analyzing its effect on our business and our customers here.What...
Violent crime prediction algorithms are racially biased
Protecting the Financial Future
CreditThe human mind is perhaps the most powerful weapon in the world; creating a thing and destroying it with a better version. Take money for instance, it started out as trade by barter, then cowries, coins, notes, safes buried in the ground, banks, cheques, credit cards and now people want to receive and transfer money in the blink of an eye,...
Netflix's Disney streaming exclusives start in September
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