Market News

Brazil ethanol pipeline owner eyes corn-based fuel makers

Logum, the company operating Brazil's sole ethanol pipeline, is looking to expand the system into central Brazil to reach more plants and possibly the nascent corn-based ethanol industry, which is expected to grow.

Yelp's top investor says shares could surge to $55-$65

SQN Investors LP said on Wednesday Yelp Inc's shares could surge anywhere between $55 and $65, about 50-80 percent higher than its current price, if it implements the hedge fund's recommendations to check its "underperformance".

Goldman Sachs CEO apologises for ex-banker's role in 1MDB scandal

Goldman Sachs Chief Executive Officer David Solomon on Wednesday apologised to the Malaysian people for former banker Tim Leissner's role in the sovereign wealth fund 1MDB scandal, but said the bank had conducted due diligence before every transaction.

Carmaker JLR urges UK lawmakers to prevent a no-deal Brexit

Britain's biggest carmaker Jaguar Land Rover (JLR) urged lawmakers to rule out the possibility that the country leaves the European Union without a deal, to prevent companies from having to make costly contingency planning.

EMERGING MARKETS-Brazilian stocks drop on financials; Latam currencies weaken

Brazilian stocks fell on Wednesday as bank losses weighed on the Bovespa index despite robust gains from the retail and materials sector, while currencies in Latin America weakened against the U.S. dollar. Sao Paulo's benchmark index fell 0.2 percent, further retreating from record-high levels as financial stocks sagged after the biggest U.S. banks blamed a bond market slump towards the end of 2018 for lower fixed-income revenues. Itau Uniba

WRAPUP-Companies cry out for Brexit clarity, warn on no-deal

Furious companies facing weeks more uncertainty over an ever closer Brexit lashed out at politicians on Wednesday, and warned of chaos at ports and catastrophic job losses if Britain failed to secure a withdrawal deal with the European Union.

Money

Citigroup allows hedge fund ValueAct more access

Citigroup Inc will give ValueAct Capital more access to its books and board of directors, signaling that the bank and the activist hedge fund are deepening their relationship roughly a year after...

Cash can beat stocks in returns and happiness

How bad was 2018 for investors? They pulled a record amount of money from stock and bond funds late in 2018 and tucked it into safe havens such as CDs, money market funds or U.S. Treasuries that...