New tax law will help US energy sector

2018 ◽  
Keyword(s):  
Budget Deficit ◽  
Oil And Gas ◽  
Energy Sector ◽  
Tax Law ◽  
Short Term ◽  
Content Type ◽  
Oil Drilling ◽  
Oil And Gas Exploration ◽  
The Us ◽  
Tax Cuts

Subject Oil drilling in Alaska and the energy sector under the new US tax laws. Significance Speaking to reporters on January 16, Senator Lisa Murkowski (Republican, Alaska), said that she wants to seek a new bill that would promote further environmental protections in what is known as the 1002 Area. The 1002 Area is in Alaska’s Arctic National Wildlife Refuge (ANWR) and was opened for oil and gas exploration and drilling when President Donald Trump signed into law the Republicans’ tax reform bill on December 22 last year. Impacts Shareholders in refiners could see strong returns as the tax cut windfall is funnelled into higher dividends and share buybacks. If the tax cuts spur stronger short-term economic growth, US oil demand should accelerate, a bullish indicator for oil prices. If the tax cuts increase the US budget deficit, subsidies for the energy sector could be revisited.

US tax reform advantages the Republicans, for now

2017 ◽  
Keyword(s):  
Stock Prices ◽  
Republican Party ◽  
Financial Stability ◽  
Budget Deficit ◽  
Tax Reform ◽  
The United States ◽  
Content Type ◽  
Oil Drilling ◽  
The Us ◽  
Tax Returns

Significance The sweeping tax reform is US President Donald Trump’s first major legislative victory. Although the bill met strong opposition, and criticism from many leading economists, Trump secured support from his fellow Republican party legislators in Congress. The bill, the first major federal tax reform since 1986, passed on a partisan vote with no Democratic legislators’ support. Impacts Stock prices will rise on the tax legislation’s passage; overseas money could flow back into the United States. The new legislation accomplishes for many Trump’s goal of simplifying the annual tax returns filing process. The tax reform will increase the US budget deficit and the national debt, damaging financial stability over the medium to longer term. If the Democrats win the House or Senate in 2018, they will likely try pushing back on the tax reform. The tax reform will allow new oil drilling in Alaska and undermines parts of the ‘Obamacare’ health scheme.

US purse strings strained by short-term sweeteners

2018 ◽  
Keyword(s):  
Natural Disasters ◽  
Public Debt ◽  
Budget Deficit ◽  
Short Term ◽  
Content Type ◽  
Congressional Budget Office ◽  
Spending Cuts ◽  
Tax Cuts

Significance In its biannual ten-year projections released on April 9, the Congressional Budget Office (CBO) foresaw the budget deficit averaging 4.9% of GDP from 2019 to 2028, an increase from its 4.3% forecast in July 2017 for the 2018 to 2027 period. This would increase the deficit by 230 billion dollars each year on average. Public debt is expected to increase to 96% of GDP in 2028 from 76% to fund this. Impacts Congress spent 100 billion dollars aiding victims of recent natural disasters; likely reoccurrences will pressure the overstretched budget. The CBO expects more to be spent on debt payments than defence by 2024; if tax cuts and spending are extended, the gap will widen. Cutting spending requires fewer Senate votes than raising it; House Republicans are already investigating spending cuts after criticism.

Testing the weak form of efficient market hypothesis for socially responsible and Shariah indexes in the USA

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Abbas Khan ◽  
Muhammad Yar Khan ◽  
Abdul Qayyum Khan ◽  
Majid Jamal Khan ◽  
Zia Ur Rahman
Keyword(s):  
Stock Prices ◽  
Arima Model ◽  
Weak Form ◽  
Efficient Market Hypothesis ◽  
Future Price ◽  
Short Term ◽  
Socially Responsible ◽  
Efficient Market ◽  
Content Type ◽  
The Us

Purpose By testing the weak form of efficient market hypothesis (EMH) this study aims to forecast the short-term stock prices of the US Dow and Jones environmental socially responsible index (SRI) and Shariah compliance index (SCI). Design/methodology/approach This study checks the validity of the weak form of EMH for both SCI and SRI prices by using different parametric and non-parametric tests, i.e. augmented Dickey-Fuller test, Philip-Perron test, runs test and variance ratio test. If the EMH is invalid, the research further forecasts short-term stock prices by applying autoregressive integrated moving average (ARIMA) model using daily price data from 2010 to 2018. Findings The research confirms that a weak form of EMH is not valid in the US SRI and SCI. The historical data can predict short-term future price movements by using technical ARIMA model. Research limitations/implications This study provides better guidance to risk-averse national and international investors to earn higher returns in the US SRI and SCI. This study can be extended to test the EMH of Islamic equity in the Middle East and North Africa region and other top Islamic indexes in the world. Originality/value This study is a new addition to the existing literature of equity investment and price forecasting by comparing and investigating the market efficiency of two interrelated US SRI and SCI.

Surgery for Parkinson disease in the United States, 1996 to 2000: practice patterns, short-term outcomes, and hospital charges in a nationwide sample

2003 ◽  
Vol 99 (5) ◽  
pp. 863-871 ◽  
Author(s):  
Emad N. Eskandar ◽  
Alice Flaherty ◽  
G. Rees Cosgrove ◽  
Leslie A. Shinobu ◽  
Fred G. Barker
Keyword(s):  
Surgical Treatment ◽  
Parkinson Disease ◽  
Practice Patterns ◽  
The United States ◽  
Hospital Charges ◽  
Short Term ◽  
Content Type ◽  
The Us ◽  
Fine Print ◽  
Deep Brain

Object. The surgical treatment of Parkinson disease (PD) has undergone a dramatic shift, from stereotactic ablative procedures toward deep brain stimulaion (DBS). The authors studied this process by investigating practice patterns, mortality and morbidity rates, and hospital charges as reflected in the records of a representative sample of US hospitals between 1996 and 2000. Methods. The authors conducted a retrospective cohort study by using the Nationwide Inpatient Sample database; 1761 operations at 71 hospitals were studied. Projected to the US population, there were 1650 inpatient procedures performed for PD per year (pallidotomies, thalamotomies, and DBS), with no significant change in the annual number of procedures during the study period. The in-hospital mortality rate was 0.2%, discharge other than to home was 8.1%, and the rate of neurological complications was 1.8%, with no significant differences between procedures. In multivariate analyses, hospitals with larger annual caseloads had lower mortality rates (p = 0.002) and better outcomes at hospital discharge (p = 0.007). Placement of deep brain stimulators comprised 0% of operations in 1996 and 88% in 2000. Factors predicting placement of these devices in analyses adjusted for year of surgery included younger age, Caucasian race, private insurance, residence in higher-income areas, hospital teaching status, and smaller annual hospital caseload. In multivariate analysis, total hospital charges were 2.2 times higher for DBS (median $36,000 compared with $12,000, p < 0.001), whereas charges were lower at higher-volume hospitals (p < 0.001). Conclusions. Surgical treatment of PD in the US changed significantly between 1996 and 2000. Larger-volume hospitals had superior short-term outcomes and lower charges. Future studies should address long-term functional end points, cost/benefit comparisons, and inequities in access to care.

The causes and consequences of delayed/abandoned cross-border merger & acquisition transactions

2016 ◽  
Vol 29 (6) ◽  
pp. 917-962 ◽  
Author(s):  
K.S. Reddy ◽  
En Xie ◽  
Yuanyuan Huang
Keyword(s):  
Oil And Gas ◽  
Case Analysis ◽  
Telecommunications Industry ◽  
Government Control ◽  
Target Firm ◽  
Content Type ◽  
Poor Countries ◽  
Oil And Gas Exploration ◽  
Cross Border ◽  
Cross Case Analysis

Purpose Drawing attention to the significant number of unsuccessful (abandoned) cross-border merger and acquisition (M&A) transactions in recent years, the purpose of this paper is to analyze three litigated cross-border inbound acquisitions that associated with an emerging economy – India, such as Vodafone-Hutchison and Bharti Airtel-MTN deals in the telecommunications industry, and Vedanta-Cairn India deal in the oil and gas exploration industry. The study intends to explore how do institutional and political environments in the host country affect the completion likelihood of cross-border acquisition negotiations. Design/methodology/approach Nested within the interdisciplinary framework, the study adopts a legitimate method in qualitative research, that is, case study method, and performs a unit of analysis and cross-case analysis of sample cases. Findings The critical analysis suggests that government officials’ erratic nature and ruling political party intervention have detrimental effects on the success of Indian-hosted cross-border deals with higher bid value, listed target firm, cash payment, and stronger government control in the target industry. The findings emerge from the cross-case analysis of sample cases contribute to the Lucas paradox – why does not capital flow from rich to poor countries and interdisciplinary M&A literature on the completion likelihood of international takeovers. Practical implications The findings have several implications for multinational managers who typically involve in cross-border negotiations. The causes and consequences of sample cases would help develop economy firms who intend to invest in emerging economies. The study also offers some implications of M&A for telecommunications and extractive industries. Originality/value Although a huge amount of extant research investigates why M&A fail to create value to the shareholders during the public announcement and post-merger stages, there is a significant dearth of research on the causes and consequences of delayed or abandoned national and international deals. The paper fills this knowledge gap by discussing an in-depth cross-case analysis of Indian-hosted cross-border acquisitions.

scholarly journals Career cooperation, coordination, compatibility and co-working

2020 ◽  
Vol 35 (2) ◽  
pp. 121-139
Author(s):  
Susan Shortland
Keyword(s):  
Oil And Gas ◽  
Small Sample ◽  
Dual Career ◽  
International Assignments ◽  
Heterosexual Relationships ◽  
Strategic Choices ◽  
Content Type ◽  
Oil And Gas Exploration ◽  
Coordination Strategies ◽  
Work Abroad

Purpose The purpose of this study is to examine how female expatriates mobilise couples’ dual-career coordination strategic choices to achieve their own and their partners’ desired career goals. Design/methodology/approach This qualitative research is based upon in-depth interviews with 20 dual-career female expatriates working in two case study oil and gas organisations. Findings Female expatriates use a series of tactics ranging from cooperation in maintaining a dual-career hierarchy, through to coordinating aspects of their own and their partners’ assignments, undertaking compatible industry roles and co-working (working together in the same organisation) to attempt to achieve a greater egalitarian international dual-career strategic outcome. Research limitations/implications This case analysis was based on a relatively small sample of female expatriates in heterosexual relationships working in oil and gas exploration. Further research in different sectors, with larger samples, and with male expatriates is also needed. Practical implications Employers should minimise periods of separation by focussing on coordinated assignment timings for both partners, facilitate suitable employment for both partners who wish to work abroad, and prioritise securing partner work visas. Social implications The inability to pursue desired dual-careers together while undertaking international assignments can be detrimental to couples’ relationships, potentially leading to unwillingness to expatriate and thereby deliver necessary skills in the host country. Originality/value The originality lies in identifying the tactics women use to enact dual-career coordination strategies, including coordinating assignment timings and locations to reduce separation and pursuing compatible roles to achieve egalitarian career and relationship outcomes. While women expected co-working in the same firm to facilitate dual-career mobility, its career outcomes were disappointing.

Extractives transparency gathers pace in the West

2016 ◽  
Keyword(s):  
Oil And Gas ◽  
Commodity Prices ◽  
Balance Of Power ◽  
The United States ◽  
Securities And Exchange Commission ◽  
Good Time ◽  
Power Structures ◽  
Financial Transfers ◽  
Content Type ◽  
The Us

Subject Developments on transparency in the extractives sector. Significance Transparency legislation on the extractives sector progressed in December 2015 when the US Securities and Exchange Commission published a revised proposal to enhance the transparency of extractive (ie, mining and oil and gas) industries' payments to governments in producing countries. The aim is to provide information on financial transfers which can then be used by civil society, media and other stakeholders to hold those governments to account. The United States was a pioneer in this area, but litigation against its original initiative delayed its progress. Impacts Low commodity prices shift the balance of power from producing countries to consuming ones. That makes producer countries more susceptible to pressures for reform and may be a good time to push for greater transparency. However, opaque and inaccessible power structures in producer states could still limit NGO capacity to use more data to reduce corruption. A test of this will be whether the issue of resource transparency gains traction within the G20.

Djibouti looks further east with new port deal

2018 ◽  
Keyword(s):  
Container Terminal ◽  
Far East ◽  
Gulf Of Aden ◽  
Short Term ◽  
Content Type ◽  
Port Management ◽  
The Us ◽  
Strategic Location ◽  
Almost All

Subject Djibouti port management Significance Djibouti on February 22 unilaterally terminated Dubai Ports World (DP World)’s contract to manage Djibouti’s main economic asset, the Doraleh Container Terminal (DCT), the port that handles almost all of land-locked Ethiopia’s foreign trade. The port’s seizure brings a bitter, six-year legal and commercial dispute between the Emirati-owned DP World and Djibouti’s President Ismael Omar Guelleh to a climactic end, reconfiguring alliances in the Gulf of Aden and Red Sea. Singapore-based Pacific International Lines (PIL) will now manage the port, as Djibouti eyes a long-term future aligned towards the Far East. Impacts The de facto nationalisation of DCT will not significantly disrupt Ethiopia’s economy or transit trade in the short term. Despite US unease over Chinese maritime ambitions, Western diplomats will be wary of involvement in the Djibouti-UAE dispute. Given Djibouti's strategic location, the US will not downsize its military base absent a wider change in its regional strategic priorities. PIL will aim to boost transhipments via Djibouti, potentially bolstering French and Chinese links within the Ocean Alliance consortium.

Israeli-Lebanese offshore gas race may raise tensions

2017 ◽  
Keyword(s):  
Oil And Gas ◽  
Prime Minister ◽  
Political Pressure ◽  
Content Type ◽  
Oil And Gas Exploration ◽  
Offshore Oil And Gas ◽  
Political Uncertainties ◽  
Offshore Oil

Significance The bids came from Greece’s Energean, an existing investor, and a consortium of Indian firms; there was little wider international interest. Neighbouring Lebanon’s first offshore oil and gas exploration round, which closed on October 12, was similarly disappointing, with just two bids received from one consortium consisting of France’s Total, Italy’s Eni and Russia’s Novatek. Impacts Political uncertainties following the resignation of Lebanese Prime Minister Saad al-Hariri could slow hydrocarbons exploration. The Lebanese government will be under domestic political pressure from NGOs to ensure transparency in its award of exploration licences. Israel will launch further bid rounds for the remaining blocks, but these are unlikely to produce a different result.

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