Posts From King World News

Oil Will Struggle to Break Past $60 a Barrel in 2016

Some of the world’s largest energy companies and investment banks are becoming more pessimistic about the ability of crude oil pricing to reach even $60 a barrel next year, reporting steep losses as they take hits on projects that no longer make financial sense. Continued oversupply means that next year, Brent crude prices will average $58 a barrel and West Texas Intermediate, the U.S. oil benchmark, will average $54 a

Ackman: Valeant's main problem is PR, not fraud

Hedge fund mogul William Ackman told his investors on Friday that he was confident in his bet on Valeant Pharmaceuticals (VRX.N)(VRX.TO) but faulted the company for a weak response to fraud allegations that have sunk its stock. Valeant shares were last down 4.3 percent at $106.74 in New York trading. Valeant denied any wrongdoing in a conference call on Monday.

Starbucks cafe sales hot, but holiday forecast disappoints

Starbucks shares fell as much as 3 percent in after-hours trading, before settling at $62, down 0.8 percent. Global sales at cafes open at least 13 months rose 8 percent in the fiscal fourth quarter, beating the 6.9 percent rise expected by analysts polled by research firm Consensus Metrix. China’s cooling economy has global investors on edge and already has been blamed for soft results from KFC and Pizza Hut