CoreLogic Rejects Boosted Unsolicited Proposal Of $66/share From Senator/Cannae – Quick Facts

Driver survives as pole impales car during crash

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An alleged drunk driver survived a horror crash when his car was impaled by a fence as it left a rural road Monday morning.

SWNS

The 21-year-old man reportedly wrecked in a fog near Kirby Muxloe, U.K., causing a long metal pole to enter his driver’s side window and pass just inches from his head as it pierced the roof of his car.

SWNS

The man was taken to a hospital, but didn’t suffer any serious injuries in the incident, South West News Service reported.

'NOT DRUNK' DRIVER ARRESTED FOR DUI AFTER WRECK

(SWNS)

Police posted photos of the incident to Twitter, noting that they may look picturesque, but the driver “is lucky to be alive.”

China Inflation Slows; PPI Falls At Slower Pace

China’s inflation eased in August on slowing pork price growth and factory gate prices continued to decline, but the pace of drop slowed from the last year.

Consumer price inflation slowed to 2.4 percent in August from 2.7 percent in July, the National Bureau of Statistics revealed Wednesday. The rate came in line with expectations.

On a monthly basis, consumer prices gained 0.4 percent.

Driven by slower growth in pork prices, food price inflation eased to 11.2 percent annually. Pork prices advanced 52.6 percent from last year, following an 85.7 percent rise in July.

Core inflation, which excludes food and energy prices, held steady at 0.5 percent in August.

Producer prices decreased at a pace of 2 percent on a yearly basis in August, as expected, following a 2.4 percent drop in the previous month, another report from the NBS revealed.

Looking through the volatility in food prices, the broader disinflationary impact from the COVID-19 downturn continues to ease, Julian Evans-Pritchard, an economist at Capital Economics, said.

Headline consumer price inflation probably has further to fall as pork supply continues to recover from last year’s African swine fever outbreak, the economist noted.

But the bigger picture is that, with infrastructure-led stimulus still being ramped up, demand-side pressures on prices will probably strengthen in the coming months, pushing up underlying inflation, Evans-Pritchard added.

Belarus mass arrests fail to stop protests

After nearly 800 people were arrested in Minsk last Sunday, the UN Commissioner for Human Rights condemned what she called the violent repression of peaceful demonstrations.

Mass detentions in Belarus have so far failed to stop the weeks-long protest movement.

After nearly 800 people were arrested in Minsk last Sunday, the UN Commissioner for Human Rights condemned what she called the violent repression of peaceful demonstrations.

Al Jazeera’s Step Vaessen spoke to some of the detainees who have been released.

Kushner Says Agreement on Next Stimulus May Come After Nov. 3

President Donald Trump’s son-in-law and senior adviser, Jared Kushner, said a new stimulus package may have to wait until after the November election, the latest signal that Congress is nowhere near a deal.

“The hope is that we’ll still get to a deal,” Kushner said on CNBC on Tuesday. “It may have to happen after the election, because there obviously are politics involved. This is Washington.”

A 50-member group of House Democrats and Republicans is set to release a $1.52 trillion coronavirus stimulus plan Tuesday in a long-shot attempt to break a months-long deadlock on providing relief to the pandemic-battered U.S. economy.

Talks between House Speaker Nancy Pelosi, Senate Minority Leader Chuck Schumer, Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows broke off Aug. 7. Democrats have insisted on a $2.2 trillion stimulus and the White House has sought about $1.1 trillion.

Kushner said Congress hasn’t acted because of posturing and politics.

“We do think there is a need for another intervention, we’ve reached out to Congress, we’ve been negotiating,” he said. “There’s a lot of posturing, some differences of opinion.”

CoreLogic Rejects Boosted Unsolicited Proposal Of $66/share From Senator/Cannae – Quick Facts

CoreLogic Inc. (CLGX) announced Tuesday that its Board of Directors has unanimously rejected the revised unsolicited proposal from Senator Investment Group LP and Cannae Holdings Inc., received on Monday, to acquire all outstanding common shares of CoreLogic for $66.00 per share in cash.

The revised proposal of $66.00 per share reflects a $1.00 per share price increase and is otherwise unchanged from the prior proposal.

CoreLogic’s Board of Directors unanimously concluded that the revised proposal continues to significantly undervalue CoreLogic, raises serious regulatory concerns that have not been addressed, and is not in the best interests of shareholders.

Since the original Senator/Cannae proposal was made on June 26, CoreLogic has reported strong second quarter financial results, significantly increased guidance for the remainder of 2020, 2021 and 2022 based on the strength of its business, raised its quarterly dividend by 50%, and committed to a $1 billion share repurchase.