Wage growth may finally be taking hold. Americans are getting better-paying work, spurring more people to seek it. January’s headline figure of 151,000 new jobs undershot estimates, though. And Janet Yellen et al know they’ll be blamed for global market volatility, too.
The $11 bln oil explorer is selling shares to shore up capital. Not long ago, it repurchased more than twice as many at double the price amid an Elliott insurgence. The toxic mix of a cyclical industry, activism and financial engineering should be a required boardroom case study.
More than 100 mln people are due to watch the Panthers and Broncos battle for supremacy on Sunday amid $10 mln-a-minute ads. Live sports are pivotal for broadcasters but the $18 bln price tag is getting harder to justify. As cord cutting accelerates, the chalice will be poisoned.
CEO Philippe Dauman replaced Sumner Redstone as chair of the $18 bln media firm, thwarting the controlling stockholder’s daughter, Vice Chairwoman Shari Redstone. She wanted an independent leader. Investors may not like the soap opera, but it has potential as a much-needed hit series.
The internet security group netted $5.3 bln from selling Veritas. Pressured by Elliott, it’s now borrowing $500 mln from Silver Lake and returning all the cash to investors rather than keeping a war chest. Symantec’s questionable dealmaking record makes the straitjacket merited.
The U.S. president’s $10-a-barrel fee would fund infrastructure and nudge consumers from fossil fuels. It might also up demand for gas-sipping autos, helping carmakers meet emissions goals. And energy firms could pass on the cost. It will, alas, surely stall in an election year.
The media mogul mayor may yet try to be U.S. president. Hands down he’d be the richest contender ever. It would take extreme candidates Bernie Sanders and Ted Cruz as nominees for Michael Bloomberg to run. The bigger issue is that he’d have his deep ties to finance to explain.