Markets roundup, Brexit News and Dell technologies downgraded by Fitch. Three ministers in the British government resigned over the Brexit deal reached between the United Kingdom and the European Union. Overview European Markets closed in the red after three ministers in the British government resigned over the Brexit deal reached between the United Kingdom and the European Union. Earlier in the day, Brexit Secretary Dominic Raab, Minister for Northern Ireland Shailesh Vara and Work and Pensions Secretary Esther McVey decided to quit, citing a threat to the integrity of the country that the agreement allegedly poses. The pound suffered a hit as the resignations were coming in, dropping over 2% at one point during the session. Meanwhile, leading hardlineBrexiter Jacob Rees-Mogg has submitted a letter of no confidence in the UK's Prime Minister Theresa May. Investors also digested data on the rising trade surplus in the Eurozone, … [Read more...] about Brexit is it worth it?
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Dell Technologies Inc. gave investors a deeper look into its financials as it steps up efforts to win support for a plan to take the company public.Dell expects its revenue to increase about 9.5 percent to $87.5 billion in fiscal 2019, according to a proxy statement filed Monday. That’s the midpoint of a projected range, compared with $79.9 billion in sales a year earlier. Dell said its total earnings before interest, taxation, depreciation and amortization are expected to increase 18 percent to $9.7 billion, up from $8.2 billion.Both revenue and Ebitda metrics include financial benefits from Dell’s stake in software maker VMware Inc.The much-anticipated proxy statement includes background on how the deal came to be and financial projections through fiscal 2023 -- the furthest-reaching guidance that Dell has given since it was taken private in 2013. The information is key to making the case for its unusual return to the public markets by buying out a tracking stock linked … [Read more...] about Dell Projects Revenue Boost in Pitch for Tracking-Stock Buyout