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Sudan’s Oil Assets Back in Play After US Lifts Sanctions

Who Will Be the First to Capitalize? Canadian-based junior oil company Stamper Oil & Gas Corp. (CSE: STMP) (OTC: STMGF) is the only international firm so far to publicly announce an agreement—partnering 50/50 with Sudan’s national oil company Sudapet on a sizeable 26,000 km2 project area, through which the export oil pipeline to Port Sudan already runs.   U.S. Deputy Secretary of State John J. Sullivan traveled to the Sudanese capital of Khartoum last Thursday as part of a tour of the region. The visit followed a decision from Washington last month, which lifted longstanding economic sanctions on Sudan. Preceding Sullivan’s visit, Sudan’s oil minister Abdul Rahman Osman stated that Sudan has already held talks with several oil companies regarding Sudanese oil industry development—...

Amidst warnings, bitcoin reaches new heights

(FinancialPress) —Bitcon has broken yet another psychological barrier, as it reached the $18,000 mark on the Bitstamp exchange on Friday. The new record-high came after a 9% gain in value, and is reached among ever-growing warnings of volatility and the speculative nature of the exchange instrument. The 1,700% rise in the cryptocurrency during this year alone has made many financial industry stalwarts to raise their red flags in alarm – fearing a market bubble that could burst in devastating fashion. In December alone, bitcoin‘s gained 80% on its own value for the prior month. This is its best month in percentage gains since December 2013. Bitcoin‘s gained 20% on its value since Monday. Trading has slowed down considerably, though, thus pouring cold water on the heartstopping price s...

S&P expected to reach 3,000 mark in 2018

(FinancialPress) — JP Morgan strategists have revealed their significantly bullish outlook for the stock market in 2018. The Dubravko Lakos-Bujas-led equity strategy firm that the firm runs said Thursday that the positive investment environment will carry on well into 2018, supporting further gains in the stock market. Easy monetary policy, low inflation and global growth were labeled as responsible for the strong economic year in 2017. These factors are expected to remain in place in 2018, with additional boosts coming from the Trump administration. “We believe progress on GOP/Trump policy initiatives (i.e. lower corporate taxes, reduction in regulatory burden) should be a significant source of upside for equities and drive further rotation from Growth to Value styles and across sectors,”...

British MP to Facebook: “Look harder“ for Russian meddling in Brexit

(FinancialPress)— Facebook issued a response to the UK‘s Electoral Commision request for comment on Russian interference through ad campaigns in the platform targeted at  British voters. A Russian troll farm did, in fact, create an ad campaign that tackled not Brexit itself, but the topic of immigration. However, they only spent $0.97 boosting it. The same farm has been linked to the Kremlin, and spent $100,000 on Facebook ads attempting to influence Americans in the run-up to the U.S. presidential election. While the response from the Silicon Valley firm confirms their suspicions, the head of the parliamentary commission investigating the fake news phenomena is not satisfied – having gone on record stating that the company has done a lackluster effort in its attempts to crack down o...

Wall St. analysts give Amazon $1,500 price target

(FinancialPress) — Wall Street‘s enthusiasm for Amazon (AMZN) is showing – the hot tech stock got its most bullish price target yet – $1,500 after several analysts raised their forecasted pricings. This hinges on the experts‘ reliance on its capability to retain dominance over the retail and cloud computing markets. “We continue to think Amazon is the best long-term growth story available to large-cap investors today,” wrote an MKM Partners‘ analyst on a Tuesday note. D.A. Davidson gave the most bullish rise on price target – going from $1,300 to $1,500 – a 29% upside to Wednesday‘s close of the stock. Out of the 41 analysts who cover Amazon, his was the highest. “We are focusing on the company’s physical store efforts as we believe its incre...

Canada Legalizes Cannabinoid-Infused Beverages

Big Alcohol Makes Historic Crossover into the Global Cannabis Market VANCOUVER – November 28, 2017 – After much anticipation, the federal government has finally announced the legalization of cannabinoid-infused foods and beverages in Canada. This announcement included in the approval and release of edits to Bill C-45. Included in the law’s amendments was a deadline stating that edibles (cannabinoid-infused foods and beverages) will be available to the public, alongside the marijuana adult use legalization, set to launch in 2018. Legalizing cannabinoid-infused edibles adds a long-awaited consumer package goods and edibles brand vertical to an already explosive cannabis market. This momentous change will shift the landscape of the global cannabis sector as the Canadian market welcomes the to...

Meredith to purchase Time Inc.

(FinancialPress) — Top media firm Meredith (MDP) and publisher Time Inc. (TIME) have agreed to terms for an acquisition by the former to the tune of $2.8 billion. The game-changing move will put widely-recognized publications such as People, Sports Illustrated, Fortune and Entertainment Weekly under its umbrella – adding to its current portfolio of titles that includes Parents, Better Homes & Gardens and Shape. Both companies are around the same price range in the stock market. The Iowa-based Meredith is incurring in some serious debt to complete the transaction – up to $3.6 billion from an array of lenders. After the deal is done. Meredith plans to sell a considerable chunk of the newly-combined business to a Koch brothers-owned company. David and Charles Koch are famous f...

First Ever CBD IPO Launches In Canada

Phivida Holdings Inc. Receipt for Filing of Final Prospectus  VANCOUVER — November 23, 2017 — Phivida Holdings Inc. (“Phivida”) is pleased to announce that it has filed and obtained a receipt for its final long form prospectus dated November 21, 2017 (the “Prospectus”) from the securities regulatory authorities in British Columbia and Ontario. The Prospectus qualifies Phivida’s Initial Public Offering (the “IPO”) and the distribution of a minimum of 1,250,000 units of Phivida (each, a “Unit”) and a maximum of 12,500,000 Units (the “Offering”), at a price of $0.40 per Unit. Each Unit consists of one common share (each, a “Common Share”) one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable at a price of $0.75 per Common Share for a peri...

Wall St. feels Wal-Mart is “playing offense“ vs. Amazon

(FinancialPress) — Wall Street feels that Wal-Mart (WMT) has taken the offensive on Amazon (AMZN), and shares are rebounding to reach record highs. Shares of Wal-Mart had its single best day in nine years on Thursday, as they surged 11% to close at a record high. This follows a big earnings beat and strong online sales growth. As a response to the positive data, analysts are modifying their forecasts for the company. Baird analyst Peter Benedict feels that, despite Amazon‘s worrisome dominance in the retail market. Wal-Mart may still have a fighting chance. He said, in a note to clientas that “with a solid foundation in place, Wal-Mart is increasingly playing offense. Efforts to broaden the online assortment, improve the customer value proposition (free two-day shipping, pick-up disc...

Tesla unveils new Roadster, semi-truck

(FinancialPress) — Thursday brought big news from Tesla (TSLA) with the reveal of the new version of its Roadster sports car and an all-new semi-truck — both with specifications that will have most of the market scrambling to get up to par. The updated version of the sports car can go from a stop to 60 mph in an astounding 1.9 seconds. With that number, it would become the fastest- accelerating mass produced car ever. Meanwhile, the semi-truck can achieve the same speed in just five seconds when the trailer is not loaded, according to Tesla CEO Elon Musk. That acceleration speed can usually only be seen in luxury sedans – and is an absolute rarity in big trucks. If the trailer is fully loaded, the vehicle can reach the 60 miles per hour benchmark in 20 seconds – which is still ...

Gorman – Morgan Stanley chief: bitcoin ‘doesn’t deserve the attention it’s getting’

(FinancialPress) — James Gorman, CEO and Chairman for Morgan Stanley (MS), feels that the bitcoin craze is getting more spotlight than it warrants – even if the phenomenon won‘t be vanishing overnight. On a Thursday interview with CNBC, Gorman said cryptocurrency owners should not expect bitcoin to suddenly become a safe investment when, in essence, it‘s a speculative asset. He stated that “something that goes up 700 percent in a year — it’s by definition speculative. So anybody who thinks they’re buying something that it’s a stable investment is deluding themselves.” He added that “it might go up another 700 percent, but it could easily not.“ Gorman‘s perspective can be seen as far more conciliatory than some other big names of Wall Street. BlackRock CE...

Chinese tech company Tencent posts 69% profit; could beat Facebook‘s net value

(FinancialPress) — China‘s tech darling Tencent (0700.HK) obliterated sales forecasts laid out by analysts for its third quarter of the year, posting an astounding profit of 18 billion RMB ($2.7 billion) out of a 65.2 billion RMB ($9.8 billion) revenue. After Wednesday‘s market close, its valuation stood close to $470 billion. Facebook (FB), one of the biggest companies in tech worldwide, stands at a value of $520 billion. Expectations were set at 15.7 billion yuan and 61 billion yuan across the board for analysts polled by S&P Global Market Intelligence. The outstanding result hinges mostly on the excellent performance of its mobile and PC gaming units. Profit rose 69% overall YoY, and revenue surged 61%, thanks to the aforementioned businesses. The best performance was posted by the ...

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