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Updated: 9 hours 3 min ago

Xerox prepares to take HP buyout bid hostile

Tue, 11/26/2019 - 20:04
Xerox Corp said on Tuesday it was planning to take its $33.5 billion buyout bid directly to HP Inc shareholders after the personal computer maker refused to open its books for due diligence before a deadline.

VW's Audi to cut one in ten jobs to fund shift to electric vehicles

Tue, 11/26/2019 - 19:26
Volkswagen's luxury car unit Audi on Tuesday said it would cut one in ten jobs, freeing up billions of euros to fund its shift towards electric vehicle production.

Bank of England hits Citigroup with biggest fine to date

Tue, 11/26/2019 - 18:51
The Bank of England fined Citigroup 43.9 million pounds ($56.3 million) on Tuesday, saying the U.S. banking group's British operations failed to provide it with accurate regulatory returns between 2014 and 2018.

Abercrombie & Fitch reports rise in Abercrombie same-store sales

Tue, 11/26/2019 - 18:49
Abercrombie & Fitch Co reported a better-than-expected 3% rise in same-store sales at its flagship brand on Tuesday, but said tariffs would hurt gross profit in the current quarter.

Commodities tycoon Gupta still ready to buy British Steel - sources

Tue, 11/26/2019 - 18:41
British commodities tycoon Sanjeev Gupta is ready to bid for British Steel if an offer from China's Jingye Group falls through, two sources close to the matter have said.

Singapore's Grab launches pilot motorbike-hailing service in Malaysia

Tue, 11/26/2019 - 18:32
Ride-hailing firm Grab has launched a pilot programme for motorbike hailing in Malaysia, barely a month after regional rival Gojek was given the green light to begin limited operations in the country.

Trade optimism propels S&P 500, Nasdaq to record highs; Apple biggest boost

Mon, 11/25/2019 - 21:21
Apple Inc and semiconductor stocks powered the S&P 500 and Nasdaq indexes to record highs on Monday, after a report signaled that the United States and China were nearing a trade truce, with sentiment also buoyed by a raft of mega deals.

Canadian Kirkland to buy Detour Gold for $3.7 billion to boost reserves

Mon, 11/25/2019 - 21:06
Canadian miner Kirkland Lake Gold Ltd fell as much as 16% in Toronto on Monday after the company said it would buy smaller rival Detour Gold Corp for about C$4.89 billion ($3.68 billion) in an all-stock deal, as it looks to scale up its mining operations and boost reserves.

Qatar plans to boost LNG production to 126 million tonnes by 2027

Mon, 11/25/2019 - 21:04
Qatar topped up its expansion plan for its vast liquefied natural gas (LNG) production facilities after drilling and appraisal work at its gas fields and now expects to produce 126 million tonnes a year (mtpa) by 2027.

IndiGo must step up efforts to replace aircraft with problem Pratt & Whitney engines: DGCA

Mon, 11/25/2019 - 20:57
India's air safety watchdog said IndiGo must do more to fix its aircraft fitted with Pratt & Whitney engines, linked to in-flight shutdowns, as it fears the budget airline may not meet its Jan. 31 deadline to replace them.

LVMH aims to restore Tiffany's sparkle with $16.2 billion takeover

Mon, 11/25/2019 - 20:46
Louis Vuitton owner LVMH has agreed to buy Tiffany for $16.2 billion in its biggest acquisition yet, as the French luxury goods maker bets it can restore the U.S. jeweller's lustre by investing in stores and new collections.

Factbox: M&As in vogue for luxury retailers seeking growth

Mon, 11/25/2019 - 20:46
Louis Vuitton owner LVMH snapped up U.S. jeweler Tiffany & Co on Monday for $16.2 billion in its largest buyout ever, adding America's biggest luxury name to its stable of brands.

SoftBank's Oyo projects losses in India, China until 2022: valuation report

Mon, 11/25/2019 - 20:39
SoftBank-backed Oyo Hotels and Homes' internal projections showed it may not make a profit in India and China until 2022, even as the India-based hotel chain revealed a six-fold rise in losses during fiscal year 2019.

EBay to sell ticketing unit StubHub for $4.05 billion

Mon, 11/25/2019 - 20:25
EBay Inc will sell its ticketing unit, StubHub, in an all-cash $4.05 billion deal to ticket reseller Viagogo Ltd, the companies said on Monday, nearly a year after the ecommerce major came under pressure from activist investors to hive off some of its businesses.

Oil holds above $63 on U.S.-China trade talks optimism

Mon, 11/25/2019 - 20:10
Oil prices held above $63 a barrel on Monday as positive comments from the United States and China rekindled hopes in global markets that the world's two largest economies could soon sign an interim deal to end their trade war.

Mediaset CEO upbeat on reaching accord with Vivendi

Mon, 11/25/2019 - 20:03
The head of Italian broadcaster Mediaset is upbeat about reaching a deal to end a three-year legal battle with major shareholder Vivendi, providing the French media giant does not move the goalposts.

Tesla shares rise as Musk says Cybertruck orders hit 200,000

Mon, 11/25/2019 - 19:51
Tesla Inc shares rose 4% on Monday after Chief Executive Officer Elon Musk tweeted over the weekend that the company had already received 200,000 orders for its futuristic Cybertruck pickup.

'Unfit' Uber loses London licence over safety failures

Mon, 11/25/2019 - 19:45
Uber was stripped of its licence to carry paying passengers in London on Monday for the second time in just over two years, pending an appeal, over a "pattern of failures" on safety and security.

MSCI arms all investors with ESG ratings of 2,800 top firms

Mon, 11/25/2019 - 19:38
MSCI published the environmental, social and governance (ESG) ratings of more than 2,800 companies on Monday, giving all asset managers more detail to make their investment decisions.

Just Eat urges shareholders to shun Prosus and stick with Takeaway deal

Mon, 11/25/2019 - 19:33
Britain's Just Eat urged shareholders on Monday to shun a $6.3 billion cash offer from Prosus, saying a currently lower valued deal with was a better bet as it would create the largest food delivery firm outside China.