Actelion’s ambitious independent-minded CEO will drive up takeover price
ZURICH (Reuters) – Actelion Chief Executive Jean-Paul Clozel’s desire to keep Europe’s biggest biotech company independent after building it from scratch, means Johnson & Johnson will have to pay a steep premium if a takeover is to succeed.
Samsung to unveil shareholder return plans amid calls to split company
SEOUL (Reuters) – Samsung Electronics Co Ltd said it will disclose plans to boost shareholder value on Tuesday – a move that comes amid pressure from U.S. fund Elliott Management to split the company in two and provide more in payouts.
Monte dei Paschi faces potential legal claims for $8.5 billion: document
MILAN (Reuters) – Ailing Italian bank Monte dei Paschi di Siena said on Monday it is facing potential legal claims for a total of more than 8 billion euros ($8.5 billion) in a series of civil lawsuits.
StanChart to cut 10 percent of corporate, institutional banking staff: sources
SINGAPORE/HONG KONG (Reuters) – Standard Chartered is set to cut about a tenth of its global corporate and institutional banking headcount, sources with direct knowledge of the matter said on Monday, as the bank steps up an aggressive drive to cut cos…
Baker Hughes shares set to rise on GE deal: Barron’s
NEW YORK (Reuters) – Shares of oilfield services company Baker Hughes Inc could rise significantly if it completes its merger with General Electric Co’s oil and gas division, according to a report in Barron’s.
U.S. shoppers spend less over holiday weekend amid discounting
CHICAGO (Reuters) – Early holiday promotions and a belief that deals will always be available took a toll on consumer spending over the Thanksgiving weekend as shoppers spent an average of 3.5 percent less than a year ago, the National Retail Federatio…
Australia’s Telstra failing to plug earnings hole with myriad of investments
SYDNEY (Reuters) – The ability of Australian telecoms company Telstra Corporation to offset the fall in its traditional revenue streams by diversifying into a range of technology and other businesses is in doubt.
Race-track rivalry moves to boardroom as VW brands battle for electric car jobs
FRANKFURT/HAMBURG (Reuters) – Just as Porsche and Audi have fought for supremacy on the race track, the Volkswagen brands are now locked in a cut-throat battle to develop and manufacture the next generation of electric cars at a group embroiled in the …
Thanksgiving, Black Friday store sales fall, online rises
(Reuters) – Sales and traffic at U.S. brick-and-mortar stores on Thanksgiving Day and Black Friday declined from last year, as stores offered discounts well beyond the weekend and more customers shopped online.
Lufthansa cancels 35 flights on Sunday
FRANKFURT (Reuters) – Germany’s biggest airline Lufthansa has canceled 35 flights on Sunday as the fallout from a four-day strike by pilots over pay spilled into a fifth day.
