E Statistics Lesson

The troubles of Takata now merged into Joyson Safety Systems are not over because autos have a long lead time between orders and actual sales. ALV lost 0.75% here

Final automobile note. In the Banco Santander conference call Jose Antonia Alvarez Alvarez revealed that Fiat-Chrysler's late CEO Sergio Marchionne told the bank wanted to re-fund FCAU US$ financing but now SANUSA is not sure what will happen. SAN is up 1.8% after Q2 results.

ENERGY & MATERIALS

BP plc is buying US domestic shale assets from BHP plc for $10.5 billion, marking its return to this country big-time after the Gulf disaster, giving it assets in the Permian Basin, Eagle Ford, and Haynesville. Jefferies brokers love this move. BP also announced a 2.5% rise in it dividend to 10.25 cents/ADR to shareholders of record Aug 10 payable Sept. 21.

Orocobre, the Aussie developer of lithium production in Argentina which is part owned by Japan's Toyota is becoming more international. It will invest C$5 million to maintain its 33.5% stake in Canada's Advantage LithiumAVLIF is now now in a capital increase at 77 loony cents a share and OROCF is subscribing 15,064,886 of them. Then it will sell 8,571,450 of the shares to a third party for the sale price. It owned 46,325,000 AVLIF shares before the deal today. Plus 2,550,00 warrants expiring next March to buy more shares at $1 (probably C$s rather than US or Australian ones.) It is unclear if Toyota is the eventual buyer. OROCF is buying them as an investment. Its lithium beds are adjacent to AVLIF's and it is helping bring them on.

Cosan fell 2.6% today in Brazil, dumped over concern about the sugar harvest and the pricing of fuel for truck drivers.

Canadian Cameco's target price was upped to C$18 from $16.50 by TD Securities today. It mines uranium.

Mexico's market saw Cemex stock up 4.5% today after it posted good results reported Thursday.

HEALTH

The EU Committee for Medicial Products for Human Use, or CHMP, okayed Glaxo Smith Kline's Nucala for treatment of children aged 6 to 17 with severe refractory eosinophilic asthma. This is the same drug that was turned down by the US FDA for treating chronic obstructive pulmonary diseases yesterday..

CHMP alo aproved Novartis's Tafinlar to treat cancers cancer associated with a BRAF gene mutation which deregulates cell growth. NVS signed up to use Shyft, from a sub of Medidata Solutions, its existing digital partner there for finding therapies for Europe. For the US the Swiss firm uses Pear Therapeutics software.

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David Reynolds 2 years ago Member's comment

Good read.

Vivian Lewis 2 years ago Author's comment

do I want to share a page with Dough Casey? I am the child of immigrants of a different language, religion and culture to that of the US mainstream. Of course had they not left Nazi Germany when they did my parents would have been killed and I wouldn't be here. But to limit migration to people called Casey who want to better themselves would also exclude religious refugees like my mom and dad; people who had helped the USA in Vietnam who feared being killed by the Communist takeover; Cuban refugees from Castroland; Russian amd East European Jews banned from studies or jobs under Stalin and his allies. If you only allow Christians with white skin who speak English already, who can find jobs or start companies now, are you going to ask the offspring of these other groups to return to their ancestors" homelands? What will Mr Casey do about the native Americans who were here before the Caseys disembarked?

BreakingBad News 2 years ago Member's comment

Was this response to a question I'm not seeing?

Vivian Lewis 2 years ago Author's comment

ad for Casey posted on talkmarkets letter to me yesterday so I reacted

BreakingBad News 2 years ago Member's comment

Thanks for clarifying, I had no idea Casey had such views.

Vivian Lewis 2 years ago Author's comment

me neither. but the book is out