R.R. Donnelley ups bid for Quebecor World
U.S. printing company R.R. Donnelley & Sons. Co. of Chicago has increased its offer for competitor Quebecor World, a filing with U.S. regulators shows.
Donnelley, which originally bid $1.3 billion US for Montreal-based Quebecor, has added about $200 million in cash and stock to its offer and “confirmed our intention to assume significant pension liabilities,” it said in a letter to Quebecor World.
Quebecor World is restructuring in creditor protection.
Investors Increase Their Bets on an Interest Rate Hike Towards the End of This Year!
Investors Increase Their Bets on an Interest Rate Hike Towards the End of This Year!
A new week begins dear readers, as the world’s largest economy started to show recently signs of recovery from the worst financial crisis since the Great Depression, as last week we witnessed the improvement in the labor sector though the non-farm payrolls estimate, however the unemployment rate continue to hover around its highest level since 1983 at 9.4 percent.
Traders Brace for Possible Stagflation as Rates Rise Faster than Economic Growth
Traders Brace for Possible Stagflation as Rates Rise Faster than Economic Growth
The dollar moves higher against most of the major currencies after a drop in stocks stimulated demand for the safety of the world’s main reserve currency, and investors raised bets the Federal Reserve will increase interest rates by the end of the year after the Labor Department said June 5 that U.S. payrolls fell by 345,000 last month, the smallest decrease in eight months. The EurUsd lost 105 pips from the last close to 1.3863 as S&P lowered its long-term sovereign credit rating on the Republic of Ireland to AA from AA+ and said the outlook is negative. The UsdJpy dropped slightly to 98.58 as Tokyo Shoko Research Ltd. said corporate bankruptcies in Japan dropped 6.7 percent last month from a year earlier. Credit concerns looming in the global markets resulting in a slight pullback in the risk rally. Equity markets declined in the U.S., Europe and Asia, with the Dow slipped 1%, the FTSE off 0.82%, and MSCI down 1.94%. Commodities are lower across the board with oil hoverting around $68 bbl, while Gold fell to a weekly low to $950oz in New York and London as the dollar strengthened with the Dollar Index gained 1% today after jumping 1.7% on June 5, the most in more than four months.