Mattel and Hasbro share prices surge on merger report February 4, 2016 Two US toy makers Mattel and Hasbro, between them responsible for childhood favourites such as Hot Wheels and My Little Pony, could embark on a deal which would create one of the world's biggest toy makers. The companies shares jumped after it was reported Hasbro approached Mattel about a potential transaction late last year, with the companies since [...]
Swiss commodity trader Trafigura’s chief released on bail amid fraud probe February 4, 2016 The head of one of the world's largest oil and metals traders, Trafigura, was released on bail after eight months in prison this week, as a probe into alleged fraudulent trading activity continues. Li Bo, who heads the company's operations in Beijing, has not been charged in the matter which relates to losses of $32m (£22m) in a gasoline trade [...]
Ralph Lauren shares plunge as luxury fashion group slashes forecasts, blaming mild weather February 4, 2016 Ralph Lauren shares have plummeted by nearly 18 per cent after the US fashion brand reported a worse-than-expected decline in third quarter sales, blaming the mild winter weather and fewer tourists visiting its stores. The luxury goods group, whose brands include Polo Ralph Lauren and Club Monaco, said net revenues fell by four per cent, or one [...]
Barclays “to hand over Qatar documents” to Serious Fraud Office February 4, 2016 Barclays is set to hand over much-disputed internal documents relating to its dealings in Qatar to the Serious Fraud Office (SFO), Bloomberg has reported. The bank has been under investigation by the SFO since 2012 concerning two emergency cash injections received from its Middle Eastern investors in 2008 during the financial crisis. The money Barclays [...]
Glencore share price rises despite S&P cutting its credit rating to just above junk February 4, 2016 Miner and trader Glencore’s credit rating was left hovering above junk grade today, after Standard & Poor’s (S&P) spliced it to the lowest investment grade, citing concern over the impact of China’s slowing economy on commodity prices. S&P downgraded the Switzerland-based group by one notch to BB- from BBB. It had recently lowered forecasts for [...]
Private equity firms Blackstone and Catalyst win consent for Stratford Island scheme February 4, 2016 Plans for a major regeneration scheme at the centre of Stratford have been given the go-ahead by Newham council, paving the way for 600 new homes. Private equity firms Blackstone Real Estate Partners and Catalyst Capital have won planning permission to two tower blocks on the Stratford Centre site – one of 42 storeys and the other of 25 – [...]
Tory NHS reforms boost Primary Health Properties February 4, 2016 Primary Health Properties (PHP) said government plans to invest more in GP premises would help boost its prospects next year as it posted strong full-year results. The company, which owns a £1.1bn portfolio comprising of 275 properties let primarily to GPs, said its net asset value per share increased by 10 per cent to 87.7 pence [...]
Philip Morris’ share price rises as cigarette seller coughs up mixed results February 4, 2016 Cigarette seller Philip Morris has missed fourth-quarter revenue expectations and signalled a low profit outlook for 2016. Revenue for the quarter slipped 11 per cent to $6.39bn (£4.38bn), with revenue declining in every geographic region. Chief executive André Calantzopoulos said: “Against a backdrop of improving industry volume trends in many key geographies, our cigarette brand portfolio performed superbly, [...]
Beazley share price up as insurer reveals a boost to profits for the year ended December 2015 and a planned move to London from Ireland February 4, 2016 Beazley today revealed it was eyeing a return to the UK from lower-tax jurisdiction Ireland as it reported a boost to its profits for the year. The insurer announced that it had made profit before tax of $284m (£194.7m) for the year ended December 2015, which is up eight per cent from $261.9m the year before. "Beazley increased [...]
ConocoPhillips share price falls as it whittles down dividend due to commodities slump February 4, 2016 ConocoPhillips unveiled deep cost-cutting measures today, as it became the first US oil major to slash its quarterly dividend, due to the increasingly gloomy outlook for commodities and tighter credit conditions across the industry. Shares in ConocoPhillips, the largest US independent oil and gas company, slumped 1.24 per cent to $38.15. It cut capital expenditure forecasts for 2016 to [...]