- Iran, the U.S. and other world powers have reached a landmark agreement on Iran's nuclear power, which seeks to block the country's ability to build nuclear weapons in exchange for lifting sanctions, the Wall Street Journal reports. The deal includes agreements to cap Iran's stockpile of nuclear fuel, significantly reduce the number of centrifuge machines Tehran uses to enrich uranium, and to reduce the amount of plutonium produced by an Iranian reactor.
- The biggest takeover ever by a Chinese company of a U.S. firm may be a $23 billion deal by China's state-owned Tsinghua Unigroup to acquire Micron Technology (MU), if it goes ahead, according to the Wall Street Journal. China's largest chip design company is willing to pay $21 a share for Micron, a 19.3% premium over its Monday closing price, a source told the paper.
- A partnership controlled by Marathon Petroleum (MPC), a refinery and pipeline company, will buy MarkWest Energy Partners (MWE) for $15.8 billion. The combined company would have a market capitalization of $21 billion, making it the fourth-largest master limited partnership.
- The banking regulator of New York has asked Deutsche Bank (DB) to provide details of a suspected bribe offered last December to a bank employee in Moscow, the Financial Times reports citing sources. Deutsche Bank said in June it had started an internal investigation into securities trades and place some of its Moscow employees on leave.
- Greek Prime Minister Alexis Tsipras faces a showdown with rebels in his own party on Tuesday. The Syriza politicians are furious at his capitulation to German demands for one of the most sweeping austerity packages ever demanded of a euro zone government.
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As stocks rally after ignoring the trade wars for a fourth time some money should find names such as XOM.
This Canadian energy name has paid dividends for over 64 years to its shareholders.
The stock continues to be attractive for income investors, especially those looking for high yields above 5%.
Over the past several years, Dominion's exposure to the oil and gas MLP industry has helped fuel its above-average dividend growth.