Two of the country’s largest newspaper companies will be merging and creating one huge newspaper media conglomerate. New Media Investment Group (NYSE: NEWM) will buyout Gannett Co. (NYSE: GSI) for $1.38 billion dollars, in cash and stock options.
The closing of the deal is supposedly going to be complete at the end of 2019. New Media and its satellite company GateHouse Media will operate under Gannett Co. and also be headquartered in Virginia, where Gannett is also located. -SB
1) There are fears that the deepening China and American trade war may severely effect the fragile oil market. The tariffs increases has already send oil prices spiraling down over concerns of a sever global economic slowdown or recession. But China could use oil as an economic weapon by purchasing vast quantities of oil from Iran thus driving oil prices down from $60 to as low as $40 while also undermining President Trump’s foreign policy.
2) Gold, always a panic investment from economic fears, is again attracting investors with its prices pushing upward. With the devaluation of the Chinese money and threats that the U.S. might follow suit, investors are worried about the value of other monies sliding down. Fears of what will happen to the Euro and British Pound with a ‘no deal’ exit, coupled with European government bonds rates that are so low, is further attracting investors to gold. Hence, investors are migrating to the traditional safe heaven of gold.
3) In an attempt to further push into the Nordic markets, payment processor Mastercard Inc will buy the majority of the corporate services businesses of Scandinavian payments group Nets. The financial technology sector is consolidating fast as more people switch from cash to digital payments, both on line and on the street. The $3.19 billion dollar deal gives Mastercard further clearing and instant payment services plus e-billing solutions.
4) Stock market closings for – 6 AUG 19:
Dow 26,029.52 up 311.78 Nasdaq 7,833.26 up 107.23 S&P 500 2,881.77 up 37.03