German container shipper Hapag-Lloyd on Friday postponed the completion date for its takeover of United Arab Shipping Company (UASC) to May 31 from March 31, but said the deal, worth 7 to 8 billion euros ($7.52-8.60 billion), was not at risk. All merger clearances and regulatory approvals and all necessary banking approvals from Hapag’s side have been obtained as have most banking approvals from Dubai-based UASC’s side, […]
It is now well-established that the economics of cloud computing services add massive value to the business, a contention supported both by research and by the number of organisations that either have moved or are now moving production systems into the cloud. Challenges remain of course, and among them is automation. Cloudy challenges Cloud certainly changes the economics of IT but it does not necessarily change all […]
By Lisa Baertlein | LOS ANGELES LOS ANGELES McDonald’s Corp (MCD.N) investors will vote soon on whether to give the franchisees who operate most of the fast-food chain’s restaurants the opportunity to elect a board member, the proponent of a shareholder proposal said on Friday. The proposal, which faces long odds of success, is believed to be the first of its kind and has attracted great interest […]
Mulesoft, a software “unicorn”, gained 46 per cent in its trading debut in New York on Friday, the latest in a number of hot listings that are reviving the US market for initial public offerings. Mulesoft rose to $24.75 after pricing at $17, giving the IPO the best first-day “pop” this year, according to Dealogic. The performance follows recent first-day gains from Canada Goose, the maker of […]
Tiffany & Co (TIF.N) reported fourth-quarter profit ahead of analysts’ estimates as it sold more jewelry in Japan and China, sending shares to a 19-month high in morning trading on Friday. Sales in Japan were bolstered by the brand exposure Tiffany got through a popular television show last year and a strong yen helped boost spending by Japanese tourists in other regions, Tiffany’s Chairman and interim Chief […]
Trump, presumably toasting his “great Irish friends”.Image: OLIVIER DOULIERY/POOL/EPA/REX/Shutterstock By Sam Haysom2017-03-17 13:15:42 UTC Despite their best efforts, Republicans’ attempts to embrace St. Patrick’s Day haven’t exactly gone down a storm. First there was Donald Trump’s green MAGA baseball cap, then there was his failed attempt to share an Irish proverb, and Thursday there was the not-exactly-positive response to Paul Ryan’s pint of Guinness. As expected, Trump […]
Bob Diamond, the former Barclays chief executive, has teamed up with the investment vehicle of the Qatari royal family to launch a bid for Panmure Gordon, the lossmaking stock broker and investment bank. Panmure, whose name dates back more than 140 years, is suffering like many mid-cap brokers from a number of structural challenges, including increased regulation, fewer deals and lower corporate retainers. The deal may be […]
By Sijia Jiang | HONG KONG HONG KONG Chinese technology conglomerate LeEco is looking to sell a 49-acre U.S. Silicon Valley property less than a year after buying it from Yahoo Inc, sources said, in what is the latest effort by the firm to ride out a cash crunch. LeEco, one of China’s most ambitious companies that grew from a Netflix-like video website to a business empire […]
The parkas that have made it to the top of Mount Everest and the cover of Sports Illustrated’s swimsuit edition have found their way to Wall Street. Shares of Canada Goose, the maker of down winter coats with coyote fur trim and a circle patch logo, soared in their New York debut on Thursday, rising 26 per cent to $16.08 after pricing at $12.78 a piece, above […]
William “Billy” Walters’ stomach for taking risky bets and reading “tells” of opponents made him one of the most successful sports gamblers of all time. It is the same strategy he used to invest in the stock market, his lawyer told a jury as opening statements began in his $40m insider trading trial. Prosecutors have accused Mr Walters of making over $30m in profits and avoiding $10m […]
Retail stocks were once again heading straight for the discount bin on Wednesday. Struggling department store operator Macy’s was the day’s biggest decliner on the S&P 500, dropping 2 per cent to $30.32 following news that one-time suitor Hudson’s Bay now has its eyes on upmarket retailer Neiman Marcus instead. Shares in Macy’s, which have been languishing at six-year lows amid falling sales and profits, had rallied […]
NEW YORK Jeffrey Gundlach, chief executive officer of DoubleLine Capital, said on Wednesday he expected a short-term rally in U.S. Treasuries and that investors should “use the strength” in U.S. stocks to take profits and diversify in overseas markets. “I am surprised with the relentless nature” of equities after the election of U.S. President Donald Trump, Gundlach said on CNBC. Gundlach, who oversees more than $101 billion […]
By Dustin Volz | WASHINGTON WASHINGTON The U.S. government on Wednesday unsealed charges against two Russian spies and two criminal hackers for allegedly pilfering 500 million Yahoo user accounts in 2014, The indictments, announced at a news conference in Washington, represent the first time the U.S. government has criminally charged Russian officials for cyber offenses. The content of at least 30 million accounts were accessed as part […]
If you are trying to get rid of the itching that is caused due to Eczema in your children, then gulping an antibiotic or applying an antibiotic cream may not be of any help. A study has revealed that there lies no underline benefit for eczema, by the use of oral or any topical antibiotics for children who are infected with mild clinical eczema. Eczema In Children A […]
Eon, the German utility, recorded a net loss of €16bn for 2016 — the largest in his history — and unveiled ambitious measures to reduce debt by €7bn through asset sales and cutting 1,300 jobs. The loss reflected impairments on Uniper, the new fossil fuel power company spun out of Eon last year, as well as payments Eon is having to make into a new state fund to cover the […]
It is fitting that just a few hours until the Fed’s second rate hike in two quarters, and one day after Goldman downgraded global stocks to Neutral for the next 3 months, not to mention with the results of the anticipated Dutch election due shortly, that global stocks as well as S&P futures are higher, while crude oil has finally managed to stage a rebound as the […]
Saudi Arabia’s Capital Market Authority (CMA) has received enquiries from companies from the Gulf Cooperation Council considering listing on its new parallel market, Nomu, a senior executive said on Tuesday. The companies were in the process of appointing advisers to support their potential listings, said Yarub Awadh Albadi, head of CMA’s initial public offering unit. The Nomu market, which launched on Feb. 26, is designed for small […]
Shares in Cathay Pacific fell as much as 6.9 per cent on Wednesday after the Hong Kong flag carrier swung to its first annual loss since 2008. The airline reported a net loss of HK$575m ($74m) for 2016 in the face of increased competition from mainland Chinese airlines and falling demand for its premium class seats. The net loss compares with a HK$6bn profit reported in 2015, […]
Bahrain’s GFH Financial Group may merge with Dubai-based Shuaa Capital, GFH said on Tuesday, confirming market speculation that sent both companies’ share prices surging this week. “GFH has been in discussion with several financial institutions, including Shuaa Capital, for potential majority shares acquisitions of those financial institutions and/or mergers,” GFH said in a statement to the Bahrain bourse, without disclosing further details. A spokesman for Shuaa declined […]
TOKYO Shares in Toshiba Corp tumbled on Wednesday after it said it would consider a sale of Westinghouse but did not offer any clarity on whether it would proceed with a Chapter 11 filing for the U.S. nuclear unit – a move that could stem losses. Toshiba’s failure to submit audited third-quarter earnings on Tuesday and its announcement of an expanded probe into Westinghouse also contributed to […]
By Susan Heavey and Susan Cornwell | WASHINGTON WASHINGTON President Donald Trump and congressional leaders are weighing changes to their plan to dismantle the Obamacare health law, a White House spokesman said Tuesday, as Republicans defended their effort following an estimate that it would cause 14 million Americans to lose insurance next year. Press Secretary Sean Spicer said White House officials and leaders in the Republican-controlled U.S. […]
LONDON/PARIS An activist hedge fund has said it objects to plans by Walt Disney (DIS.N) to take full control of debt-laden Paris theme park operator Euro Disney (EDLP.PA), according to a letter seen by Reuters. Paris-based CIAM, which owns 1.4 percent of Euro Disney shares, has written to the board of the French company to object to what it believes are plans by Walt Disney to force […]
Tuesday 15:10 GMT What you need to know ● Pound under pressure amid Brexit and Scottish secession worries● Sterling drops below $1.22 and euro edges up towards 88p● S&P 500 down 0.5 per cent as sliding oil hits energy stocks● Treasury yields little changed ahead of Fed decision——————- Hot topic The UK pound is back under pressure as traders become concerned that Edinburgh’s demand for a another […]
By Agustinus Beo Da Costa and Gayatri Suroyo | JAKARTA JAKARTA Indonesia’s anti-corruption agency said it will look into allegations that dozens of politicians siphoned off money causing state losses of up to $170 million in what could be one of the Southeast Asian country’s biggest graft scandals.Two public servants on trial for corruption linked to the procurement of electronic identity cards last week identified at least […]
