J.C. Penney profit forecast, same-store sales disappoint, shares dive
(Reuters) – Sales at J.C. Penney Co Inc’s established stores missed Wall Street targets in the fourth quarter and it forecast broadly lower-than-expected full-year profit, hurt by weak demand for its clothes and online competition.
Exclusive: Angola offers former dos Santos diamond rights to investors
LUANDA (Reuters) – Angola has offered investors diamond exploration licenses that previously belonged to Isabel dos Santos, daughter of the former president, according to a video clip of a closed-door meeting with mining companies seen by Reuters.
Electrolux puts $250 million U.S. investment on hold over Trump tariff hike
STOCKHOLM (Reuters) – Sweden’s Electrolux , Europe’s largest home appliance maker, said on Friday it would delay a planned $250 million investment in Tennessee, after U.S. President Donald Trump announced tariffs on imported aluminum and steel.
Stock futures lower as Trump sets stage for trade war
(Reuters) – U.S. stock futures pointed to a fourth straight daily fall on Friday, as investors fretted President Donald Trump had launched a global trade war with his promise to impose import tariffs on steel and aluminum.
How Shell hid a Whale before placing Mexican oil bet
LONDON/HOUSTON (Reuters) – The gasps in the audience were clearly audible at the auction of Mexico’s oil blocks a month ago as Royal Dutch Shell’s hefty bids were announced one by one.
Xerox rebuffs Deason’s board nomination plans
(Reuters) – Xerox Corp said activist investor Darwin Deason does not have any right to nominate directors to the company’s board outside of the nomination window, following his attempt to nominate a full slate of directors.
Head of games at Angry Birds firm goes after profit warning
HELSINKI (Reuters) – “Angry birds” maker Rovio said on Friday its head of games was leaving, a week after the Finnish company issued a profit warning that sent its shares plunging 50 percent.
Nippon Steel raises capex, M&A budget for next three years, bids for Indian mill
TOKYO (Reuters) – Nippon Steel & Sumitomo Metal Corp , Japan’s biggest steelmaker, will raise domestic capital spending by 35 percent over the next three years to upgrade aging plants and triple its investment budget to step up global expansion.
Exclusive: GM plants to cut 5,000 South Korean jobs, keep production at current level – document
SEOUL (Reuters) – General Motors’ South Korean unit plans to slash 5,000 jobs, or about 30 percent of its workforce, but keep production steady if Seoul agrees to its $2.8 billion proposal for the loss-making operation, according to a document seen by…
China’s latest conglomerate crackdown casts dealmaking shadow
HONG KONG (Reuters) – When news broke this week that the chairman of CEFC China Energy, an acquisitive conglomerate, was being investigated for economic crimes, one particular group gulped – dealmakers involved with Chinese companies.
