Business

Last week we reported that in October, a record month in which Japanese stocks saw just one losing day in the entire month, foreigners bought a record amount of Japanese equities. It wasn't just Japan, however, where the international community was busy buying. According to the just released TIC data, foreigner accounts, both official and private, were just as busy buying US stocks. In fact, of the $61 billion in net long-term securities purchased by foreigners in September, almost half - or $26 billion - was equities.

Almost a month after P&G claimed that activist investor Nelson Peltz's Trian Partners lost the 'too-close-to-call' proxy vote, the independent inspector has adjudged the recount in favor of Trian by 43,000 votes, according to CNBC's David Faber.

Independent inspector of election for PG proxy vote has found that Trian nominee Nelson Peltz has won proxy fight by 43k votes-sources.

— David Faber (@davidfaber) November 15, 2017

Senator Ron Johnson (R-WI) just became the first Republican to officially declare that he will not support the GOP tax bill that the White House still hopes to pass before Christmas.  Speaking to the Wall Street Journal, Johnson said that his opposition stems from his view that the bill unfairly benefits corporations over other pass-through entities like S-Corps and LLCs.

“If they can pass it without me, let them,” Mr. Johnson said in an interview Wednesday. “I’m not going to vote for this tax package.”

 

Authored by Zainab Calcuttawala via OilPrice.com,

Oil revenues still are not high enough to allow the Iraqi government to fund the reconstruction of the country, according to Iraqi Prime Minister Haider Al-Abadi.

“Oil prices are not at the required level to be used for sustainable development,” state TV quoted al-Abadi as saying during a press conference.

Iraq proclaimed itself victorious earlier this year after a three-year, hard-fought war against the terrorist Islamic State.

Three months after Amazon slashed some Whole Foods prices by as much as 43% on the day its purchase of the grocery chain closed in its first (of many) attempts to steal market share from competitors by selling at a loss, today Amazon announced round 2 of the grocer wars, when it unveiled even more discounts on several grocery products at Whole Foods, just days ahead of the Thanksgiving holiday, sending stocks of rival ultra-low margin grocers tumbling.