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Just Eat rebuffed a higher takeover offer from Prosus on Tuesday claiming it “significantly undervalued” the U.K food delivery company, and said it continued to support a rival all-share offer from Takeaway.com TKWY, -2.36% Prosus PRX, -1.42%, the Amsterdam-listed investment vehicle of South Africa’s Naspers NPN, -2.39%, had increased its all-cash offer by 30 pence a share to 740 pence […]
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College football always needs an argument when it comes to the postseason. This year, it was whether LSU or Ohio State should be the top seed in the four-team playoff. Four was enough this season to accommodate the teams worthy of a crack at the national championship. Maybe more than enough. See also: $2.6 billion, the New York Mets would […]
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Canopy Growth Corp. said Monday it has named David Klein, currently chief financial officer at its biggest shareholder, Constellation Brands Inc., as its new chief executive, taking over from Mark Zekulin on January 14. The news sent the U.S.-listed shares up about 13%. Zekulin became the sole CEO of the largest cannabis company by market capitalization after the Constellation Brands-dominated […]
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The cannabis industry may be booming, but publishers looking to cash in keep going up in smoke. Hightimes Holding, which publishes the 45-year-old High Times magazine, warned shareholders in its latest SEC filing that it may not be able to continue operations. “Because of recurring operating losses, net operating cash flow deficits, and an accumulated deficit, there is substantial doubt […]
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Firm unveils first non-lager beer from Kingfisher stable Beer is increasingly gaining acceptance as a social catalyst in India, but their prices are not yet attractive to a large number of consumers thanks to unfriendly taxes and excise duties that now prevail in India, according to United Breweries Ltd. (UBL). Debabrata Mukherjee, chief marketing officer, UBL, told The Hindu, “Some […]
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The U.S. stock market closes at 4 p.m. Eastern time on a typical day, but for traders sniffing around for a broad-market strategy that’s proven to be a winner in recent years, perhaps the closing bell should be treated like an opening bell. As you can see from this Bespoke Investment Group chart, since 2018, buying and then selling the […]
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The continued depreciation of the rupee against the U.S. dollar has limited negative credit implications for rated companies, as most have natural hedges in place. Driven by sluggish economic growth and slowing earnings, credit conditions will weaken for most Indian non-financial companies in 2020, Moody’s Investors Service said on Thursday. “Rated companies’ credit profiles are unlikely to improve significantly over […]
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Cannabis stocks rose Wednesday to recover some of their prior-day losses, boosted by expectations for a steep rise in spending on cannabis over the Thanksgiving holiday period, one of the busier shopping periods of the year. Data showed a sharp climb in cannabis sales on 2018’ s so-called “Green Wednesday,” the day before Thanksgiving, as well as on Black Friday, […]
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Deere & Co. shares slid 4.3% in premarket trade Wednesday, after the maker of agricultural equipment issued a profit warning for fiscal 2020 and said uncertain farmers are reluctant to invest in new equipment. “Lingering trade tensions coupled with a year of difficult growing and harvesting conditions have caused many farmers to become cautious about making major investments in new […]
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NEW YORK — New York City lawmakers voted Tuesday to ban flavored electronic cigarettes after a lawsuit halted a statewide ban. “We are acting to protect our kids by banning the e-cigarette flavors that have been hooking them for years,” Democratic City Council member Mark Levine said before the Council voted 42-2 to adopt the ban on flavored vaping products. […]
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