Here is another collection of breaking news stories which may affect companies as trading continues later.
The following companies should see some movement: Valero Energy (NYSE:VLO), Royal Dutch Shell plc (LON:RDSA), Rio Tinto plc (LON:RIO).
Here is a more detailed look at the news that will affect each company when trading continues.
Valero Energy (NYSE:VLO)
Vodafone Group plc (LON:VOD) has filed a Supreme Court Appeal over tax liabilities.
The British giant Vodafone Group plc (LON:VOD) has said in a statement that the outcome of the Indian Tax wrangle would be the determining factor of future investments in the country. The company had filed an appeal in the supreme court of India over a rule that could require Vodafone Group plc (LON:VOD) to pay a tax worth $2.7 Billion.
Vittorio Colao, the CEO of Vodafone Group plc (LON:VOD) said to The Economic Times that “actually invested more in India because I do believe in the country.”
Royal Dutch Shell plc (LON:RDSA)
Royal Dutch Shell plc (LON:RDSA) has sold cargo at a discount.
According to a Bloomberg survey of traders monitoring the Platts window, the cargo was sold by Royal Dutch Shell plc (LON:RDSA) to load on Nov. 1 to Nov. 3, and the deal was made at 65 cents below the Dated Brent benchmark. Without securing a buying, the company offered shipments for the same dates last day.
Meanwhile, investors are looking forward to seeing some changes come in the stock value.
Rio Tinto plc (LON:RIO)
Rio Tinto plc (LON:RIO) has decided to reduce its debt levels with a bond buyback.
The company said on Thursday that it is buying the notes back at a margin of 40 basis points over U.S. Treasury. According to a Deutsche bank estimate, the new offer is equal to the issue price of 113.5.
Gus Medeiros, credit strategist at Deutsche Bank, said that “Rio’s operating cash generation is strong and the company is able to further reduce debt.”
We could see more movement when trading continues for Valero Energy (NYSE:VLO), Royal Dutch Shell plc (LON:RDSA) and Rio Tinto plc (LON:RIO).
