Crude oil dropped below $45 a barrel for the first time since late 2016, which raises the possibility that countries that produce crude could begin to have financial problems again. The production of oil from shale in the United States has been a contributor. Also, OPEC nations may not be adhering to production limits set by the cartel earlier this year, leading to more oversupply.
Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-B) has bought a stake in large Canadian mortgage company Home Capital Group.
An exclusive report from Reuters says private equity firm Sycamore Partners may buy huge office supply company Staples Inc. (NASDAQ: SPLS). According to the news agency:
The acquisition would come a year after a U.S. federal judge thwarted a merger between Staples and peer Office Depot Inc. on antitrust grounds.
It would represent a bet by Sycamore that Staples could more quickly shift its business model from serving consumers to catering to companies if it were to go private.
Sycamore is in the process of finalizing a debt financing package for its bid for Staples after it prevailed over another private equity firm, Cerberus Capital Management, three sources said.
Gasoline prices dropped below $2 for an average gallon of regular in South Carolina and Oklahoma. They are at $2 in Alabama and Mississippi. As crude prices fall, the likelihood more states will join the list has risen rapidly.
American Airlines Group Inc. (NASDAQ: AAL) will stop using uniform supplier Twin Hill. Crews on the company’s planes have complained the uniforms cause allergic reactions.
According to DLS Reports, T-Mobile US Inc. (NASDAQ: TMUS) is in merger talks with Sprint Corp. (NYSE: S). The deal would take the third and fourth largest wireless companies in the United States and make them large enough to compete with leaders AT&T Inc. (NYSE: T) and Verizon Communications Inc. (NYSE: VZ).