I'm fully aware of the cyclical nature
of the commodities business, but clearly the greater the bull market, the more severe the bear market.
It ditched much
of its commodities business — a unit now causing headaches for Goldman.
Morgan Stanley's review
of its commodities business comes as rivals including Deutsche Bank AG and Barclays PLC have pulled back from the sector.
Robinson broke out
of the commodity business by offering such unexpected extras as 68 colors, state - of - the - art delivery technology that makes same - day delivery possible, and responsive field service.
Even by the standards
of the commodity business (and the commodity trading business in particular) Glencore is known for its appetite for political and legal risk, and its willingness to deal with sketchy counterparties.
These competitors will drive down the incumbent business's profits until its ROIC declines to the average return
of a commodity business.
Not exact matches
Owning so many
of the logistical control points
of the pulse trade is a core part
of AGT's competitive advantage in what is otherwise a low - margin
commodity business.
For a
business exposed to the ups and downs
of commodity prices and the costs
of the manufacturing sector, Civmec has had a good year.
«The
business model
of an oil and gas company in the future is going to have to be built around the abundance model, where your returns are not going to be made by
commodity price increases,» says Munro.
Brand loyalty is a priceless
commodity when you're taking the crucial
business step
of building a successful brand.
The rising dollar forced management to re-evaluate how much the company should deal in the
commodity side
of business.
They're about as close to
commodities as consumer devices get,» Hal Friedlander, co-founder
of the Technology for Education Consortium and former CIO for New York City schools, told
Business Insider.
His clients include executives and
business leaders in a broad range
of industries, including all varieties
of financial services (securities and
commodities trading and sales, banking, investment and hedge funds), automobile manufacturing and sales, professional sports agency, pharmaceuticals, and high technology.
Any
commodities business comes with some volatility — the oil and gas
business has had a tough couple
of years amid low energy prices.
Such risks, uncertainties and other factors include, without limitation: (1) the effect
of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in
commodity prices, interest rates and foreign currency exchange rates, levels
of end market demand in construction and in both the commercial and defense segments
of the aerospace industry, levels
of air travel, financial condition
of commercial airlines, the impact
of weather conditions and natural disasters and the financial condition
of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization
of the anticipated benefits
of advanced technologies and new products and services; (3) the scope, nature, impact or timing
of acquisition and divestiture or restructuring activity, including the pending acquisition
of Rockwell Collins, including among other things integration
of acquired
businesses into United Technologies» existing
businesses and realization
of synergies and opportunities for growth and innovation; (4) future timing and levels
of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability
of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope
of future repurchases
of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level
of other investing activities and uses
of cash, including in connection with the proposed acquisition
of Rockwell; (7) delays and disruption in delivery
of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new
business and investment opportunities; (10) our ability to realize the intended benefits
of organizational changes; (11) the anticipated benefits
of diversification and balance
of operations across product lines, regions and industries; (12) the outcome
of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact
of the negotiation
of collective bargaining agreements and labor disputes; (15) the effect
of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect
of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect
of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act
of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability
of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition
of conditions that could adversely affect the combined company or the expected benefits
of the merger) and to satisfy the other conditions to the closing
of the pending acquisition on a timely basis or at all; (18) the occurrence
of events that may give rise to a right
of one or both
of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee
of $ 695 million to United Technologies or $ 50 million
of expense reimbursement; (19) negative effects
of the announcement or the completion
of the merger on the market price
of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation
of their
businesses while the merger agreement is in effect; (21) risks relating to the value
of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability
of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
In the span
of a few months the company announced that it would acquire both AOL and Yahoo as it works to load its formidable network still the most comprehensive and widespread in the U.S. with content in a bid to keep a highly competitive (and highly lucrative) market from turning into a
commodity business.
Small
businesses were a much sought - after
commodity during 2017, with the number
of sales transactions rising more than 26 percent from the previous year.
HOUSTON, Feb 27 (Reuters)- Global
commodity trader Koch Supply & Trading has cut dozens
of workers across at least four offices worldwide, several sources said on Tuesday, as the firm restructures its
business.
Managing directors in charge
of different
commodities businesses recently sent strategic
business plans to Simon Greenshields in New York and Colin Bryce in London, who jointly run Morgan Stanley's
commodity business globally, as well as Colm Kelleher, who runs the broader institutional securities
business, two people familiar with the matter said.
HOUSTON, Feb 27 - Global
commodity trader Koch Supply & Trading has cut dozens
of workers across at least four offices worldwide, several sources said on Tuesday, as the firm restructures its
business.
HOUSTON / NEW YORK, Feb 27 - Global
commodity trader Koch Supply & Trading has cut dozens
of workers across at least four offices worldwide, several sources said on Tuesday, as the firm restructures its
business.
HOUSTON / NEW YORK, Feb 27 (Reuters)- Global
commodity trader Koch Supply & Trading has cut dozens
of workers across at least four offices worldwide, several sources said on Tuesday, as the firm restructures its
business.
NEW YORK (Reuters)- A group
of small brokerages and large
commodities companies convinced lawmakers to tweak a rule that they say would have made derivatives trading more expensive for them and sent more
business to Wall Street banks that already dominate the market.
But it was the fixed income, currencies and
commodities business that dominated, taking up nine
of the 24 pages.
A series
of letters between JPMorgan's lawyers and the Fed, released to Reuters through a Freedom
of Information Act request, show Wall Street's primary regulator took a tough stance on the bank's efforts to hold onto the global network
of Henry Bath & Sons warehouses, part
of the larger RBSSempra
commodity trading
business it bought in mid-2010.
«In
commodity businesses where there's usually easy substitution, that's amazing to have that kind
of difference in price per Btu,» he explained.
The Fed had already ordered the previous owner, Edinburgh - based Royal Bank
of Scotland, to get out
of the
business of owning
commodities storage.
According to the survey, the top concerns
of small
business owners over the next year are the effectiveness
of government leaders,
commodities prices, healthcare costs, recovery
of consumer spending and the strength
of the U.S. dollar.
Oil,
of course, is a globally traded
commodity, and those new costs
of doing
business will in time be passed on to consumers.
The irony is that the energies
of globalization and growth in demand for key
commodities are driving more
businesses to contemplate ventures in politically closed countries, particularly China.
When
commodities prices plummeted, so did the fortunes
of businesses that dealt in them — including Pennzoil, which Pate joined in 1976.
After announcing in December 2013 that it would shed $ 5 billion worth
of its
commodity chemical
business, Dow Chemical (DOW) will have to figure that out.
«As the
business cycle deepens and inflationary concerns push interest rates higher, cross-asset correlations with
commodities decline and the diversification benefits
of owning
commodities rises with higher rates.»
«In fact one reason why we set up the
business in 1929 is [because] tea is one
of the global
commodities that didn't come under big pricing pressure.
With Russo, he runs a
business that generated $ 5.3 billion in revenues in the first nine months
of the year, putting it on a par with the fixed income, currencies, and
commodities unit.
Together with Daffey, he runs a
business that generated $ 5.3 billion in revenue in the first nine months
of the year, putting it on a par with the fixed income, currencies, and
commodities unit.
Between online ordering (fewer store visits), automated home replenishment
of commodities (ditto) and in - store pickup combined with self - service checkout and kiosk deliveries, the chewing gum
business is in the toilet and impulse sales at the register (candy, necessities and magazines) overall are plummeting.
In July, when the Bank
of Canada cut its policy to its current setting
of 0.5 %, policy makers expressed concern over weak non-energy exports and a deep contraction in
business investment brought on by the collapse
of commodity prices.
The opportunity for the Calgary - based company, which produces about 5 %
of the gas in North America, is not so much to grow demand
of a
commodity, but to develop new
business lines around these new applications.
Now that the
commodity business is small and the engineered
business is large, a much larger percentage
of the total, the impact on the overall number is very positive because as Exa doubles, that's going to move the needle dramatically.
In its trading
business, income from its markets
business decreased 4 percent to 1.35 billion pounds, as macro income fell 14 percent due to a weaker performance by its U.S. rates
business and the impact
of exiting energy - related
commodities.
«They have also reduced traders in the
business as the electronification
of the
business increases and as they see credit, rates and
commodities follow equities and foreign - exchange onto electronic platforms.»
The spending behaviour
of firms in regions hit by the oil price shock is also recovering, supported by improving
commodity prices and
business confidence.
Gold: We typically see
commodities outperform stocks and other risk assets in the late stages
of a
business cycle.
As a mirror image
of a legal
commodities business, the Sinaloa cartel brings to mind that old line about Ginger Rogers doing all the same moves as Fred Astaire, only backward and in heels.
These include the general background
of strong demand and tight capacity, as well as rises in global
commodity prices that have added to
business input costs.
And he has a unique way
of operating as a customer service company rather than a
commodity business.
Those with an underlying
business model tied to the rise and fall
of a given
commodity's price.
Despite slumping
commodities prices affecting its oil, gas, and mining
businesses, FLR still managed a 21 % ROIC in 2015 and finished the year with a larger backlog than it had at the end
of 2014.
He has drafted strategic corporate
business plans, raised capital for startup organizations, defined new services portfolios, developed associated infrastructure requirements, and handled the redesign and redirection
of sales efforts away from «
commodity» sales towards value - based service sales.