The Mexican peso continues its negative correlation with Republican presidential candidate Donald Trump’s performance on the polls. It went up 2 percent after Trump’s vulgar comments about women were made public, and gained 1 percent following the second presidential debate. To monitor the movement of the currency, stick with Sentifi.
MXN: Becomes a proxy for the Clinton v. Trump matchup
When Trump gains momentum on the polls, the peso falls in value. When Trump is bested by Hillary on the polls, the peso rallies. If Trump gets elected, the political and economic relationship between Mexico and the U.S. would crumble, and that’s what the investors are worrying about.
RBS: Faces class legal action
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The bank will face a class legal action lawsuit over the allegations that it drove many business to the wall for its own profit. The suit may cost it billions of pounds. The lawsuit is coming from RGL Management after obtaining reports that the bank used the “dash for cash” tactic to boost free income through its Global Restructuring Group. The suit is set to be launched in early 2017.
TESARO Inc.: Shares jump 19 percent after successful drug trials
Merrill Lynch upgraded Tesaro’s stocks to “buy” from “neutral” after the company announced the success of its Phase 3 clinical trial for a drug for ovarian cancer. Dr. Mansoor Raza Mirza, medical director of the Nordic Society of Gynecologic Oncology, said the results are encouraging for the ovarian cancer community.
NK Rosneft’ PAO: Acquires just over 50 percent stake in state-owned Bashneft
The public joint stock oil company paid $5.3 billion for the state of another Russian major oil company, a deal that is approved by Russian Prime Minister Dmitry Medvedev. The prime minister also expected to sell another 19.5 percent stake in Rosneft for “execution of decisions on replenishing the Russian budget for this year.”
Reliance Jio Infocomm: Claims to create a world record for amassing 16 million subscribers in the first month of operations
Since the launch of its services on Sept. 5, the Indian telecom operator said it grew faster than Facebook, WhatsApp and Skype. The company has launched its paper-less SIM activation across 3,100 cities and towns, and it plans to extend the offering across the country in the next few weeks.
Noble Group: Sells its U.S. energy unit to Calpine Corp. for $800 million plus working capital
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Hong Kong-based Noble Group, backed by China’s sovereign-wealth fund, has agreed to sells its America’s largest generator of electricity from natural gas and geothermal resources Calpine Corp. The sale is meant to fuel Noble’s effort of raising $2 billion through cutting costs and selling assets. The company’s shares jumped 9.4 percent in Singapore following the news.
Samsung Electronics: Halts the production of the Note 7 smartphones after new fire reports
The company’s worst recall crisis got worse after reports of fires in replacement devices surfaced and urged the company to halt the production of the smartphones altogether. Top U.S. and Australian carriers have suspended the sales of exchanges of the phone after major airlines banned the phones. “If the Note 7 is allowed to continue it could lead to the single greatest act of brand self-destruction in the history of modern technology,” said Eric Schiffer, brand strategy expert and chairman of Reputation Management Consultants.
NXT-ID Inc.: Quarterly revenues jump 617 percent year over year
The company attributed its growth to the performance of LogicMark, which is its recent acquisition. It also expects to see continued improved results in the last quarter of 2016. After the earnings report, the company’s shares jumped 7.79 percent.
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