The hunting and fishing company Bass Pro Shops is buying Cabela's for $5.5 billion
Cabela's. Wikimedia Commons The wilderness-themed store Bass Pro Shops is buying Cabela's for $65.50 per share, or about $5.5 billion. The hunting and camping retailers are expected to close the deal in the first half of 2017. Bass Pro Shops is also launching a new credit card partnership with a banking subsidiary of Capital One. Guggenheim Securities was Cabela's exclusive financial adviser, while JPMorgan was the sole financial adviser to Bass Pro Shops. Goldm..>> view originalDrugmakers Point Finger at Middlemen for Rising Drug Prices
Updated Oct. 2, 2016 6:30 p.m. ET As U.S. drug prices rise, drugmakers are playing down their role, instead heaping blame on the middlemen who help determine how medicines are priced. Some of the sharpest criticism has come from drug-industry executives who have been grilled by lawmakers or skewered on social media over sharp price increases on their products. They include the chief of Mylan NV, maker of the lifesaving EpiPen, who says her company is being tarred unfairly for a..>> view original"Two Million Felonies": Will the Wells Fargo Scandal Finally Change Wall Street?
William K. Black Jr. speaks with Richard Eskow on "The Zero Hour." Big-bank CEOs have presided over a cornucopia of criminality in recent years. Their misdeeds are so varied and numerous that Wall Street begins to loom in the mind like some Hieronymus Bosch landscape, a scene whose occupants stun the imagination with the scope of their diversity and perversity. And yet these top executives have managed to avoid being held accountable - legally, financially, and even socially - for their actio..>> view originalThe British government made a massive economic U-turn to try and solve Britain's housing crisis
The government is reversing George Osborne's austerity policies. Flickr/Kevin Dooley Chancellor Philip Hammond is signalling a fundamental departure from predecessor George Osborne's austerity-driven budget policies with plans to borrow £5 billion to fuel house building in the UK. Philip Hammond, the Chancellor of the Exchequer, announced two multi-billion pound housing funds on Monday in an attempt to deal with Britain's growing property affordability crisis. ..>> view originalMerrimack CEO resigns, company cuts 22 percent of workforce
Cancer drug developer Merrimack Pharmaceuticals Inc. is cutting nearly a quarter of its workforce and searching for a new CEO after announcing a restructuring to eliminate more than $200 million in costs. The Cambridge, Massachusetts, company said Monday that President and CEO Robert Mulroy had resigned, effective immediately, and board Chairman Gary Crocker would take over as an interim leader. Merrimack also announced that it has largely completed a 22 percent reduction in headcount. The..>> view originalHere's How to Gauge Bank-Funding Stress in Europe
A slew of bad headlines for Deutsche Bank AG pushed short-term bank funding costs higher last week, betraying investor anxiety that stress at the systemically important bank could spill over to other European lenders.While Deutsche Bank shares had found a firmer footing by Friday's close and analysts have so far struck a relatively sanguine note on the outlook for European-bank funding, these are the charts to watch to see how conditions are developing. Cross-Currency BasisWhile this measure ha..>> view originalSterling sinks to three-year low on Brexit, European banks struggle again
LONDON Sterling slumped to a three-year low against the euro on Monday as Britain set a March deadline to start divorce proceedings from the European Union, while worries over Deutsche Bank and Europe's banking sector kept share prices in check.British stocks were the standout performers in Europe, lifted to an 18-month high by the pound's broad and deep weakness and figures showing the fastest rise in UK manufacturing output in more than two years.Apart from Britain's FTSE, however, Europe fa..>> view originalDonald Trump, Those Taxes, And 'The New York Times'
Enlarge this image Pedestrians walk by the outside The New York Times building on June 30, in New York City. Mike Coppola/Getty Images hide caption toggle caption Mike Coppola/Getty Images Pedestrians walk by the outside The New York Times building on June 30, in New York City. Mike Coppola/Getty ..>> view originalNissan sales rise 4.9 pct., bucking forecasts of down month
FILE - In this Thursday, Sept. 24, 2015, file photo, Volkswagen cars for sale are on display on the lot of a VW dealership in Boulder, Colo. On Monday, Oct. 3, 2016, automakers release vehicle sales for September. (AP Photo/Brennan Linsley, File) The Associated Press By DEE-ANN DURBIN and TOM KRISHER, AP Auto Writers DETROIT (AP) — Nissan says its September sales rose 4.9 percent, defying analyst expectations of a U.S. sales decline as demand for cars and trucks has peaked. The Japane..>> view originalING plan to cut 7000 jobs, spend on digital draws union ire
By Toby Sterling | AMSTERDAM AMSTERDAM ING Groep's plans to shed 7,000 jobs and invest in its digital platforms to make annual savings of 900 million euros ($1 billion) by 2021, drew swift criticism from unions of the Netherlands' largest financial services company on Monday.The layoffs represent slightly less than 12 percent of ING's 52,000 workforce because nearly 1,000 are expected to come at suppliers rather than the bank itself. But they are the heaviest since 2009, when ING was forced ..>> view original
Saturday, October 8, 2016
The hunting and fishing company Bass Pro Shops is buying Cabela's for $5.5 billion and other top stories.
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