Redstone family say CBS plan 'invalid' as courtroom showdown looms
The board of CBS Corp headed to court on Wednesday in an attempt to strip voting control from the Redstone family, which has sought to merge one of the biggest U.S. media companies with peer Viacom Inc.
KUALA LUMPUR (Nov 15): The FBM KLCI drifted lower at mid-morning today, as losses at Public Bank and Tenaga Nasional kept the benchmark index from advancing.
At 10am, the FBM KLCI was down 1.29 points to 1,687.12.
Gainers led losers by 258 to 202, while 255 counters traded unchanged. Volume was 455.31 million shares valued at RM243.93 million.
The top losers included Fraser & Neave Holdings Bhd, British American Tobacco (M) Bhd, Batu Kawan Bhd, Daibochi Bhd, Public Bank Bhd, Tenaga Nasional Bhd, Cahya Mata Sarawak Bhd, Nestle (M) Bhd and Top Glove Corp Bhd.
LONDON (Nov 14): Global oil supply will outpace demand throughout 2019, as a relentless rise in output swamps growth in consumption that is at risk from a slowing economy, the International Energy Agency said on Wednesday.
In its monthly report the Paris-based IEA left its forecast for global demand growth for 2018 and 2019 unchanged from last month at 1.3 million barrels per day (bpd) and 1.4 million bpd, respectively, but cut its forecast for non-OECD demand growth, the engine of expansion in world oil consumption.