TransCanada Corp said on Thursday it is considering how to proceed with its Keystone XL pipeline, a day after a court voided the Nebraska governor's decision to allow the controversial line to pass through the Midwestern state. Shares were down 1 percent at C$49.39 shortly after trading opened on the Toronto Stock Exchange. The Calgary-based company's net income in the fourth quarter was C$420 million, or 59 Canadian cents per share, compared with C$306 million, or 43 Canadian cents per share, a year earlier.
After more than a decade of legal battles, Deutsche Bank on Thursday announced it had reached a settlement with the heirs of late media mogul Leo Kirch that will see the bank pay out more than $1 billion in damages. The bank said it will pay a lump sum of $1.06 billion plus interest and a reimbursement of legal costs to Kirch's heirs, ending the biggest suit in the German media industry. The suit was linked to the collapse of Kirch's KirchMedia group, which went bust in 2002, marking the largest ever bankruptcy in post-war Germany. Kirch blamed the collapse on then Deutsche Bank CEO Rolf Breuer who publicly questioned KirchMedia's credit worthiness in a 2002 interview on Bloomberg TV. At the time, Deutsche Bank was one of KirchMedia's main creditors.
Payments platform Balanced has been gradually adding features to enable marketplaces to accept and make payments out to their users. Today the company is announcing that it’s integrated with Coinbase and will allow its customers to accept Bitcoin. Now usually hype about new businesses “accepting Bitcoin” — like when a crappy NBA team or a space travel company does it — is just a marketing gimmick. Bitcoin has hardly hit mainstream adoption and so as a practical matter, the number of users buying NBA seats or booking space travel via Bitcoin is pretty insignificant. But when a payments platform like Balanced adds Coinbase and accepts Bitcoin, it could be pretty significant.
Europe's biggest defense contractor BAE Systems warned on Thursday it expected earnings this year to drop by up to 10 percent as a result of U.S. spending cuts, with conditions still difficult, despite a recent budget deal in Congress. The British group, which had announced on Wednesday that it had finally agreed on a price increase on its sale of Eurofighter Typhoon jets to Saudi Arabia, saw its shares suffer their biggest one-day percentage fall since October 2008. They fell 11.1 percent in early trading to 388.1 pence, wiping $2.5 billion off the firm's market value. Jefferies analyst Sandy Morris said, "The storms of U.S. defense cuts ... have passed, but their shadows linger in full-year 2014," adding that BAE's earnings per share expectations were 4 to 5 percent lower than Jefferies' forecast of 40.8 pence.