Playboy slumps in US trading
Playboy Enterprises, the group which owns the iconic men’s magazine, slumped yesterday in New York trading as fears grew that talks on a sale to Iconix Brand Group are falling apart. The company is thought to be breaking off talks because the divestment would be too complicated. A sale of Playboy would mean an exit for founder and majority shareholder, 83 year old Hugh Hefner.
Honeywell dips on poor outlook
Honeywell International reiterated its 2009 outlook yesterday, but the manufacturing conglomerate forecast 2010 earnings below analyst estimates on reduced demand. For 2009, Honeywell predicted $31bn (£18.9bn) in sales; analysts expect revenue of $31.05bn. But in 2010 Honeywell predicted sales between $31.3bn and $32.2bn, compared to the $31.59bn forecast by analysts. The firm makes products for the aerospace and construction sectors.