News 

Palmer & Harvey disruption a ‘short-term issue’ insists McColl’s boss after shares drop

“That sent its shares down more than 11pc in early trade” writes Jack Torrance for telegraph.co.uk. The chief executive of convenience store chain McColl’s has insisted the businesses is “in a much better position” than a year ago after its share price dropped as much as 11pc following a warning its sales had been knocked by the collapse of wholesaler Palmer & Harvey.But investors took fright at the news that sales in shops open more than a year dipped by 2.2pc in the 11 weeks to February 11 as the…

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Futures News Oil 

Oil futures rise, as supply fears wait in the wings

“The gains in oil prices could soon be tested by concerns over rising U.S. crude oil output, which is already at record highs” writes Markets Reporter for marketwatch.com. BHGE, +1.49%  said the number of U.S. oil rigs rose by seven last week to 798, marking the fourth-straight rise.West Texas Intermediate futures CLH8, +0.89%  rose 51 cents, or 0.8%, to $62.19 a barrel, after a 4.2% gain last week.Oil futures climbed on Monday, with the commodity picking up where it left off last week, when prices rebounded as investor appetite for…

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Markets News 

Jittery U.S. bond market braces for supply wave

“The heavy Treasury supply will kick off on Tuesday with $151 billion worth of bills including record amounts of three-month and six-month T-bills” reports businessinsider.com. “While the rise in yields could draw additional demand, investors have remained very picky on where they decide to buy front-end rates,” TD Securities strategists wrote in a note.Last year’s tax reform is expected to add as much as $1.5 trillion to the federal debt load, while the budget agreement would increase government spending by almost $300 billion over the next two years. Source: businessinsider.com Share…

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US imports of Chinese solar panels skyrocketed late last year as companies sought to avoid Trump tariffs

“Trump in January announced 30 percent tariffs on imported solar panels for next year, and the tariff will progressively drop over the next three years” writes Josh Siegel for washingtonexaminer.com. Solar panel imports to the U.S. from China surged at the end of last year, as customers sought to avoid paying a 30 percent tariff imposed by President Trump.Trump imposed the tariffs in response to a petition by two struggling U.S. solar manufacturers, who argued panel-makers are being harmed by cheap imports from Asia, mostly China. Most of the jobs…

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ConvaTec swings to 2017 profit; warns on margins

“ConvaTec Group PLC (CTEC.LN) said Thursday that it swung to a pretax profit in 2017 despite supply issues, but warned of tightening EBIT margins in the year ahead” writes Carlo Martuscelli for marketwatch.com. Looking forward, ConvaTec expects to report organic revenue growth between 2.5% and 3%, and a declining earnings before interest and tax margin due to increased investment.However, the company reported organic revenue growth of 2.3%, which comes in above its revised guidance range of between 1% and 2%.The company said that it was affected by supply issues, which…

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Markets News Oil 

History could be repeating itself in the oil market

“The reason why the oil market might suffer from a renewed glut largely comes down to soaring U.S. shale production” writes Nick Cunningham for businessinsider.com. But even as the elusive “balance” in the oil market is within reach, the IEA says things might quickly reverse.That was the warning from the International Energy Agency, which said in its latest Oil Market Report that a “second wave” of shale supply threatens another downturn.Total global oil supply is expected to grow faster than demand this year, which could lead to another downturn.Meanwhile, Venezuela’s rapid…

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Markets News Oil 

US crude oil output continues to rise — and there’s still a stack of supply sitting on the sidelines

“Even with a recent wobble, crude oil prices have been on a tear in recent years, underpinned by the belief that production cuts from OPEC and its allies, along with firmer global growth, will help to balance the global market” writes David Scutt for businessinsider.com. But a threat to that outlook continues to lurk in the background: US crude production.As seen in this chart from the Commonwealth Bank, productivity at major oil and gas fields is improving, creating a real risk that the rebalancing of the global crude market may be…

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Amerisource shares jump on Walgreens buyout report

“The Wall Street Journal reported late Monday that Walgreens Boots Alliance Inc. reached out to AmerisourceBergen Corp. about a potential deal several weeks ago” writes Associated Press for sun-sentinel.com. Walgreens started buying shares of AmerisourceBergen in 2013, when it entered a 10-year supply agreement with the company. Source: sun-sentinel.com Share This:

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Downtown has a high apartment vacancy rate? The rest of L.A. should be so lucky

“In this scenario, prospective tenants have numerous options to choose from, but occupancy rates are still high enough that landlords can capitalize on their properties” writes Steven Sharp for latimes.com. We need to achieve this type of equilibrium for the apartment market in Los Angeles, and we can’t do it without increasing housing supply. Source: latimes.com Share This:

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Morrisons to supply C.I. retailer Sandpiper

“Wm Morrison Supermarkets PLC (MRW.LN) said Tuesday that it will become a long-term franchise and wholesale supply partner for Sandpiper CI, a Channel Islands retailer” writes Maryam Cockar for marketwatch.com. The FTSE 100-listed supermarket said most of Sandpiper’s 43 sites will convert into Morrisons Daily stores and the company will supply both Morrisons own brand and branded products.Morrisons will supply Safeway brand and other branded products to the remaining Sandpiper stores.The company didn’t disclose any financial details of the agreement. Source: marketwatch.com Share This:

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