UK retailer Debenhams to be liquidated, threatening 12,000 jobs

Washington Post Editorial Board Rips Trump Over ‘One Of The Most Dangerous’ Rants Yet

The editorial board of The Washington Post on Monday delivered yet another blistering critique of Donald Trump, describing the president’s most recent rant on Fox News as “one of the most dangerous of his presidency.”

Trump once again pushed unproven allegations of a rigged election on Sunday’s broadcast of “Sunday Morning Futures.” Host Maria Bartiromo failed to fact-check the president’s unsubstantiated claims.

In its column — titled “Trump’s latest Fox News rant was one of his most dangerous. Republicans can’t ignore it” — the newspaper’s board said Trump was either “delusional, or he is willing to knowingly tear down the democracy to deny that he is a loser.”

It then criticized prominent Republicans for sitting “ on the sidelines” by remaining silent amid Trump’s touting of baseless conspiracy theories about mass voter fraud.

“Should Mr. Trump persuade millions of Americans that the voting system is corrupt, he could inaugurate an era of dangerous instability; a future candidate in a closer election might succeed in overturning a fair vote by exploiting the doubts and leveraging the fear that the president has instilled,” it warned. 

Read the full editorial here.

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CNN’s Brianna Keilar Has A Mocking New Nickname For Fox News

CNN’s Brianna Keilar on Monday debuted a fantastical new moniker for Fox News.

The “Newsroom” anchor slammed the widely watched conservative network for allowing Donald Trump to spew multiple wild conspiracy theories during an interview with host Maria Bartiromo on Sunday in the president’s latest desperate bid to overturn the 2020 election result.

Keilar then dinged the president and Fox News with a “Peter Pan” reference, saying Trump “continues his journey through Never Never Land, held aloft by Tinkerbell TV.”

Check out the full segment here:

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China Distance Education Holdings Announces Going Private Transaction – Quick Facts

China Distance Education Holdings Limited (DL) has entered into a merger agreement with Champion Distance Education Investments Limited and China Distance Learning Investments Limited, a unit of Champion. China Distance Learning Investments will merge with and into China Distance Education, with China Distance Education continuing as the surviving entity and becoming a wholly-owned subsidiary of Champion Distance Education, in a transaction in which the company will be acquired by a group of certain of the company’s existing shareholders.

The buyer Group include Zhengdong Zhu, CEO, Baohong Yin, co-founder, and the spouse of Zhu and certain other existing shareholders and equity investors.

All outstanding ordinary shares of China Distance Education Holdings, including ordinary shares represented by American depositary shares, each representing four ordinary shares, other than excluded shares and ADSs representing excluded shares, will be cancelled in exchange for the right of the holders thereof to receive $2.45 in cash per ordinary share or $9.80 in cash per ADS.

Pfizer, BioNTech Apply For Conditional Marketing Authorization For COVID-19 Vaccine To EMA

Pfizer Inc. (PFE) and German biotech firm BioNTech SE (BNTX) Tuesday said they have submitted a formal Application for Conditional Marketing Authorization or CMA for their mRNA vaccine candidate, BNT162b2, against COVID-19 to the European Medicines Agency or EMA.

The submission completes the rolling review process initiated on October 6, with nonclinical data and partial Chemistry, Manufacturing, and Controls (CMC) data, followed by emerging clinical data submitted by Pfizer and BioNTech.

If EMA concludes that the benefits of the vaccine candidate outweigh its risks in protecting against COVID-19, it will recommend granting a CMA that could potentially enable use of BNT162b2 in Europe before the end of 2020.

The companies noted that the vaccine candidate will be assessed according to EMA’s normal stringent standards for quality, safety and efficacy.

The BNT162b2 vaccine candidate is currently not approved for distribution anywhere in the world.

Oil Prices Fall As OPEC+ Talks Delayed

Oil prices fell on Tuesday after the OPEC+ Ministerial Meeting failed to reach a consensus on the future volume of the oil cuts amid weak demand.

Benchmark Brent crude slipped 0.2 percent to $47.80 a barrel, after having fallen over 1 percent on Monday. West Texas Intermediate crude futures were down 0.1 percent at $45.28, after having declined 0.4 percent in the previous session.

“The 12th OPEC and non-OPEC Ministerial Meeting has been postponed to Thursday, 3 December 2020, at 14:00 (CET) [13:00 GMT],” the OPEC said in a statement.

It was earlier reported that OPEC members had reached a consensus to extend the production curbs for three months, but they need to convince the wider OPEC+ group led by Russia to back the policy. The group had previously agreed to raise output by 2 million barrels per day in January.

Amid a worsening Covid-19 outlook in many regions coupled with the rapid return of Libyan production since September, oil market fundamentals still point to significant oversupply early next year.

The cartel is facing growing pressure from U.S. shale producers who have already begun raising production.

Investment bank Goldman Sachs expects Brent crude to reach $65 a barrel next year but added that OPEC+ is still a major factor for prices. A lack of extension represents $5/bbl downside from current spot levels, it said.

UK retailer Debenhams to be liquidated, threatening 12,000 jobs

  • Administrators FRP Advisory will start a wind-down of Debenhams whilst continuing to seek offers for all or parts of the business.
  • The collapse of Debenhams comes a day after Philip Green's Arcadia fashion group entered administration.

British department store retailer Debenhams is to be liquidated after failing to find a buyer, administrators FRP Advisory said on Tuesday.

It said it would start a wind-down of Debenhams, whilst continuing to seek offers for all or parts of the business.

The collapse of Debenhams, which trades from 124 UK stores and employs 12,000, came a day after Philip Green's Arcadia fashion group entered administration, threatening about 13,000 jobs.