Sky shareholders cheer; Trade war escalates; Huge gold deal

1. Sky shareholders cheer: A great day for Comcast is turning into an even better one for S...

Posted: Sep 24, 2018 11:24 AM
Updated: Sep 24, 2018 11:24 AM

1. Sky shareholders cheer: A great day for Comcast is turning into an even better one for Sky shareholders.

The American cable giant outbid 21st Century Fox and its powerful backer, Disney, on Saturday in an auction for control of the European pay-TV broadcaster.

Comcast's final bid was £17.28 ($22.65), valuing Sky at £30.6 billion ($40.1 billion). That was way up on its previous offer of £14.75, and Sky's closing share price on Friday.

The stock moved fast Monday to catch up, gaining over 8.5% to £17.22 ($22.58) in early London trading.

Two big unanswered questions: What will Fox to do with the 39% of Sky it owns? And what will Comcast shareholders think of the price CEO Brian Roberts paid for Sky?

2. A bigger conflict: The trade fight between the United States and China intensified Monday as the two economic superpowers hit each other with their biggest round of tariffs yet.

The Trump administration imposed new 10% tariffs on $200 billion of Chinese goods just after midnight ET, spanning thousands of products, including food seasonings, baseball gloves, network routers and industrial machinery parts.

China retaliated immediately with new taxes of 5% to 10% on $60 billion of US goods such as meat, chemicals, clothes and auto parts.

3. Huge gold deal: Barrick Gold has acquired Randgold Resources in an all-share deal that creates a mining giant with a major presence in the United States and Africa.

Barrick shareholders will own 67% of the new company, while Randgold shareholders will own 33%. The market value of the combined firm is $18.3 billion.

Randgold CEO Mark Bristow will become president and chief executive of the merged company. John Thornton of Barrick will be executive chairman.

3. Global market overview: US stock futures were lower.

European markets were down in early trading. Hong Kong's Hang Seng dropped 1.5%, while benchmark indexes in Shanghai and Tokyo were closed for holidays.

The Dow gained 0.3% on Friday, while the S&P 500 inched lower and the Nasdaq declined 0.5%.

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4. Companies and economics: Shares in Thomas Cook plummeted nearly 25% after the UK tour operator warned that unusually hot weather would dent its earnings.

Ascena Retail Group will release earnings after the US close.

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5. Coming this week:
Monday — US imposes tariffs on $200 billion worth of Chinese goods; MacOS Mojave launches
Tuesday — KB Home and Nike earnings; US consumer confidence
Wednesday — Bed Bath & Beyond and Carmax earnings; Federal Reserve interest rate decision; US new home sales for August
Thursday — Rite Aid, Carnival and Accenture earnings; final revision of US second-quarter GDP
Friday — End of Q3

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 21960

Reported Deaths: 908
CountyConfirmedDeaths
Hennepin7421549
Ramsey255198
Stearns195912
Nobles14782
Anoka124156
Dakota116438
Olmsted57010
Washington55329
Kandiyohi4711
Rice3962
Clay38625
Scott3742
Wright2631
Todd2200
Sherburne2172
Mower2061
Carver1822
Benton1672
Steele1440
Martin1265
Blue Earth1191
St. Louis11413
Freeborn970
Pine850
Winona7815
Carlton730
Nicollet716
Cottonwood650
Otter Tail590
Polk592
Watonwan580
Goodhue583
Crow Wing561
Itasca537
Chisago491
Dodge460
Chippewa421
Meeker420
Le Sueur411
Jackson390
Morrison390
Becker370
Lyon360
Murray350
Isanti300
Douglas300
McLeod280
Waseca240
Rock210
Wabasha170
Mille Lacs171
Fillmore171
Swift160
Unassigned159
Pennington140
Brown132
Sibley130
Faribault130
Beltrami120
Wilkin113
Kanabec111
Cass112
Norman110
Pipestone100
Marshall90
Pope80
Wadena80
Aitkin70
Yellow Medicine60
Koochiching60
Renville50
Mahnomen51
Lincoln50
Grant30
Clearwater30
Big Stone30
Red Lake30
Lac qui Parle30
Redwood30
Traverse30
Houston20
Kittson10
Hubbard10
Lake10
Roseau10

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 17676

Reported Deaths: 477
CountyConfirmedDeaths
Polk3821112
Woodbury264028
Black Hawk169240
Linn93676
Marshall87511
Dallas86417
Johnson6057
Muscatine54540
Wapello5174
Crawford4872
Tama39824
Scott3419
Louisa3369
Dubuque32316
Jasper25716
Buena Vista2520
Pottawattamie2207
Sioux2040
Washington1848
Wright1240
Plymouth1181
Allamakee1184
Warren1120
Story951
Poweshiek888
Mahaska858
Bremer676
Henry671
Clinton601
Des Moines591
Boone550
Cedar461
Guthrie433
Taylor400
Benton391
Jones360
Monroe354
Clarke350
Iowa330
Osceola320
Shelby310
Clayton313
Buchanan310
Marion300
Webster281
Fayette260
Hamilton250
Madison251
Monona240
Winneshiek230
Cerro Gordo221
Lee210
Davis200
Grundy190
Lyon190
Harrison190
Cherokee180
Floyd181
Jefferson180
Mills160
Delaware150
Butler150
Hancock140
Keokuk140
Greene130
Sac130
Appanoose133
Humboldt130
Ida130
Hardin130
Howard120
Jackson120
Audubon121
Cass110
Clay100
Page100
Winnebago100
Dickinson90
Carroll90
Van Buren90
Chickasaw80
Franklin80
Kossuth80
Emmet70
Adair70
Montgomery60
Union60
Lucas60
Adams50
Ringgold40
Fremont40
Mitchell40
Pocahontas40
Palo Alto30
Worth30
Calhoun20
Unassigned20
Wayne10
Decatur00
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