Trump’s Infrastructure Plan Due For Release Today
The White House is planning to release U.S. President Donald Trump’s infrastructure proposal on Monday alongside his budget proposal. Trump has over and over again said he wants $1 trillion to be allocated and used for repairing and upgrading U.S. infrastructure. He raised the target during the State of the Union where funds of $200 billion will come from federal funds with state, local government and private money in order to reach an infrastructure package worth $1.5 trillion. Investors and economists want more plan details and an explanation on how the plan would work.
OPEC Adjusts Oil Forecast due to Surge in U.S. Crude
OPEC announced on Monday that they are raising its oil demand forecast for 2018 but sees supplies from beyond the producer group surging this year, particularly the rising U.S. output. The 14-member cartel expects demand for oil to grow faster than it originally expected.
The organization now sees non-OPEC production growing by 1.4 million barrels per day, up 250,000 bpd from its estimate in its last monthly report. It expects nations outside OPEC to pump a total of 59.26 million bpd this year, 320,000 bpd higher than its last forecast. The United States accounts for more than half of the adjusted revision.
Qualcomm to Meet Broadcom on Valentine’s Day
After Broadcom’s hostile attempt take over Qualcomm and subsequent sweetened bid of $121 billion, the semi-conductor companies will final sit down and meet for the first time. Qualcomm Inc. has agreed to meet with Broadcom Ltd on Wednesday to seriously talk about the latter’s acquisition offer and clarify some pricing issues.
Unilever Issues Warning versus Digital Platforms
Unilever (UL) will be issuing a strong warning to digital platforms such as Facebook and Google during the advertising conference scheduled in California on Monday. Unilever is putting tech companies on notice and is prepared to withdraw advertising support for the digital supply chain. Unless these digital platforms do away with fake news, racism, sexism and extremism,
Comcast Might Try another Run at 21st Century Fox
Comcast Corp is not giving up on Rupert Murdoch’s Twenty-First Century Fox assets despite the firm’s agreement with Walt Disney last December. Disney will purchase the Fox’s assets for $52.4 billion. However, according to sources, Comcast believes it still has a chance to clinch a deal with Fox although their $60 billion bid last year was rejected.
The rejection was mainly due to concerns that regulators might nix the deal because of possible media consolidation. Comcast will have to wait for the outcome of Disney’s regulatory filing to its shareholders before voting on the deal this summer. Comcast might propose a new deal in case there’s an opening to do so.