UK PM's adviser Cummings: Brexit will happen on Oct. 31

MANCHESTER, London (Reuters) – British Prime Minister Boris Johnson’s senior adviser, Dominic Cummings, said on Monday that Brexit would definitely take place on Oct. 31.

“Yep, definitely,” Cummings said when asked if Brexit would take place on Oct. 31.

When asked how Britain’s EU exit could take place, given that there is a law which orders the prime minister to seek a delay to Brexit if parliament has not approved a deal, Cummings said: “Well, we shall just have to see won’t we.”

Sportsman’s Warehouse To Buy 8 Field & Stream Stores – Quick Facts

Sportsman’s Warehouse Holdings, Inc. (SPWH) agreed Monday to acquire inventory and assets of 8 Field & Stream locations from DICK’S Sporting Goods, Inc. (DKS) for $28 million. The acquired stores will be operated as Sportsman’s Warehouse stores and are located in Pennsylvania, New York, North Carolina and Michigan.

The purchase price will be funded through borrowings under Sportsman’s revolving credit facility. Sportsman’s will sublease the eight locations from DICK’S. The transaction is expected to close on October 11, 2019 subject to customary closing conditions.

This acquisition is consistent with Sportsman’s strategy to return to a more typical store growth pattern, following a period of investment in omni-channel capabilities, technology, and debt reduction over the last two years.

Excluding non-recurring costs and non-cash purchase accounting adjustments, this transaction is expected to be neutral to EPS in fiscal year 2019, and accretive to EPS in fiscal year 2020.

Gold Prices Fall As Dollar Strengthens

Gold prices drifted lower on Monday as worries of an immediate widening of the Sino-U.S. trade war drove some investors to the safety of the dollar. Spot gold fell 0.65 percent to 1,487.40 while U.S. gold futures were down 0.85 percent at $1,493.85 per ounce.

The U.S. dollar remained supported in cautious trade after media reports suggested that the Trump administration was considering ways to delist Chinese companies from U.S. stock exchanges and limit U.S. investors’ portfolio flows into China.

However, the White House said that nothing has been decided yet on curbing some U.S. investments in China.

The Chinese state-owned media called Washington’s potential restrictions on U.S. investments in China “the latest attempt at a decoupling” and warned such measures will have significant repercussions for the Chinese and U.S. economies, as well as their companies, in the future.

Investors also await further clues on U.S. interest rate policy after Philadelphia Fed leader Patrick Harker said on Friday he still opposes lowering the central bank’s short-term rate target.

Sempra Energy To Its Sell Interests In Peruvian Businesses For $3.59 Bln Cash

Sempra Energy (SRE) agreed Monday to sell its equity interests in its Peruvian businesses, including its 83.6% stake in Luz del Sur S.A.A. (Luz del Sur), to China Yangtze Power International (Hongkong) Co., Ltd.

Sempra Energy’s interests will be sold for $3.59 billion in cash, subject to closing adjustments for working capital and net indebtedness.

The sale will also include Sempra Energy’s interest in Tecsur S.A., which provides electric construction and infrastructure services to Luz del Sur and third parties, and Inland Energy S.A.C., Luz del Sur’s generation business. Luz del Sur serves the southern region of Lima, Peru, and is the largest electric company in the country.

The sale is expected to be completed in the first quarter of 2020, subject to customary closing conditions, including approval by the Peruvian anti-trust authority and the Bermuda Monetary Authority.

Sempra Energy said proceeds from the transaction will be used to strengthen its balance sheet and meet the growing capital needs of its core utilities in California and Texas.

10-year-old girl found safe after going missing from Brampton home

Peel Regional Police say a 10-year-old girl that went missing from her Brampton home on Monday has been located.

Police said “as a result of information received from an employee of Brampton Transit” the missing 10-year-old “has been located in good health.”

GM and UAW union continue talks for new labor deal

General Motors and United Auto Workers (UAW) said they will continue talks on a new labor deal on Monday, as a strike by the union’s members enters its third week.

UAW members went on strike on Sept. 16 seeking higher pay, greater job security, a bigger share of the leading US automaker’s profit and protection of their healthcare benefits.

“Negotiations will resume first thing Monday morning and we will continue to look for solutions to reach an agreement,” said UAW, a union that represents the automaker’s 48,000 striking hourly workers in the United States.

GM said it would continue the talks aimed at reaching an agreement that “builds a stronger future for its employees and business”.

The strike is the first nationwide walkout at GM since a two-day work stoppage in 2007.

The UAW has been careful about deploying strikes to gain leverage in bargaining since a 54-day walkout that occurred in Flint, Michigan, in 1998 that cost GM more than $2 billion and accelerated the loss of UAW-GM jobs.

WeWork says will file to withdraw IPO

Sept 30 (Reuters) – WeWork’s parent The We Company said on Monday it will file to withdraw its initial public offering, a week after the SoftBank-backed firm removed founder Adam Neumann as its chief executive officer.

“We have decided to postpone our IPO to focus on our core business, the fundamentals of which remain strong,” WeWork’s newly appointed co-CEOs Artie Minson and Sebastian Gunningham said.

“We have every intention to operate WeWork as a public company and look forward to revisiting the public equity markets in the future.” (Reporting by Anirban Sen; Editing by Shounak Dasgupta)