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November 30, 2021

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EXCLUSIVE Major Toshiba shareholder objects to break-up, urges board to solicit offers

Reuters
The logo of Toshiba Corp. is seen next to a traffic signal atop of a building in Tokyo, Japan November 9, 2021. REUTERS/Issei Kato Register now for FREE unlimited access to reuters.com Register TOKYO, Nov 24 (Reuters) – Toshiba Corp’s (6502.T) second-largest shareholder on Wednesday objected to the Japanese conglomerate’s......

‘Black Friday’ drags through November amid tight U.S. inventories

Reuters
CHICAGO, Nov 23 (Reuters) – Facing scarce year-end inventories and a shortage of workers, retailers are turning “Black Friday” into a month-long event. Walmart, the world’s largest retailer, said on Monday it had already started “Black Friday” discounts, such as $30 off AirPods and KidKraft dollhouses. Walmart, whose stores will......

China Evergrande sells entire stake in streaming platform HengTen to ease debt burden

Reuters
The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song HONG KONG, Nov 18 (Reuters) – China Evergrande Group (3333.HK) is selling its entire stake in streaming services firm HengTen Network Group (0136.HK) to raise HK$2.13 billion ($273.5......

Analysis: Banks profit from building up and breaking up companies

Reuters
Nov 16 (Reuters) – It is a constant dilemma facing companies; do they acquire or shed businesses to boost shareholder returns? Investment bankers profit every time the answer involves a deal, even if it represents an about-face for the companies. Last week’s announcements by General Electric Co (GE.N), Toshiba Corp......

Insurers plan to up ramp up private market investments, BlackRock says

Reuters
Allocations seen at 14% over 2 years -BlackRock survey No insurer expects to allocate less than 5% Around 40% expect to increase cash allocations GLASGOW / NEW YORK, Nov 15 (Reuters) – Insurers plan to increase their allocations to private markets to 14% from 11% over the next two years......

Johnson & Johnson to split into two to focus on drugs

Reuters
Nov 12 (Reuters) – Johnson & Johnson (JNJ.N) plans to spin off its consumer health division that sells Listerine and Baby Powder to focus on pharmaceuticals and medical devices in the biggest shake-up in the U.S. company’s 135-year history. The move by the world’s largest health products company comes hot......

Investors await Evergrande’s overdue $148 million payment amid contagion fears

Reuters
A man rides an electric bicycle past the construction site of Guangzhou Evergrande Soccer Stadium, a new stadium for Guangzhou FC developed by China Evergrande Group, in Guangzhou, Guangdong province, China September 26, 2021. REUTERS/Aly Song/File Photo Nov 10 (Reuters) – The uncertainty ahead of Wednesday’s deadline for cash-strapped China......

China state council think-tank met developers, banks, says source, as debt woes mount

Reuters
The Chinese national flag is seen in Beijing, China April 29, 2020. REUTERS/Thomas Peter/File Photo SHANGHAI/BEIJING, Nov 9 (Reuters) – A think-tank of China’s powerful state council met real estate developers and banks in Shenzhen city, a source with direct knowledge of the meeting told Reuters, amid intensifying worries over......

Wall St Week Ahead: Some investors look to diversify amid big tech rally

Reuters
A person waits on the Wall Street subway platform in the Financial District of Manhattan, New York City, U.S., August 20, 2021. REUTERS/Andrew Kelly NEW YORK, Nov 5 (Reuters) – Rising valuations and hefty year-to-date gains for big technology stocks are pushing some investors to diversify away from the sector......

France’s SocGen beats Q3 estimates, names new CFO

Reuters
The logo of Societe Generale is seen on the headquarters at the financial and business district of La Defense near Paris, France, February 4, 2020. REUTERS/Benoit Tessier PARIS, Nov 4 (Reuters) – French bank Societe Generale (SOGN.PA) posted on Thursday higher third-quarter earnings, beating estimates, supported by strong revenue from......

EXCLUSIVE BlackRock raises $673 mln for climate-focused infrastructure fund

Reuters
People are seen in front of a showroom that hosts BlackRock in Davos, Switzerland Januar 22, 2020. REUTERS/Arnd Wiegmann Climate Finance Partnership passes $500 mln target France, Germany, Japan all invest in novel fund EM investment a key issue at COP26 climate talks GLASGOW/BOSTON, Nov 2 (Reuters) – BlackRock Inc......

Some airlines risk failure if they do not cut emissions faster – industry report

Reuters
An aeroplane flies underneath the jet stream of another aircraft above the Italian city of Padova September 18, 2013. REUTERS/David Gray Corporate customers target speedier reductions than airlines Carriers face rising risk of shareholder activism Report finds wide emissions disparity between airlines SYDNEY, Oct 27 (Reuters) – Some airlines risk......

China’s Modern Land misses bond payment; property shares drop

Reuters
Men work at the construction site of a highrise building in Beijing, China, October 18, 2021. REUTERS/Thomas Peter Modern Land cites liquidity issues for non-payment State planner, forex regulator meet with overseas issuers Hang Seng mainland property index falls more than 5% HONG KONG/SHANGHAI, Oct 26 (Reuters) – Modern Land......

Evergrande set to miss second offshore bond coupon payment this month, sources say

Reuters
Some Evergrande bondholders had not received coupon on Wednesday Evergrande was facing Wednesday deadline for $47.5 mln payment Company sold $1.5 billion stake in Shengjing Bank Shares in Evergrande rise as much as 17% HONG KONG, Sept 29 (Reuters) – At least some of China Evergrande’s offshore bondholders had not......

PBOC promises to protect consumers as China Evergrande teeters

Reuters
The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song Housing consumers rights to be safeguarded – PBOC Evergrande shares up, bonds remain at distressed prices EV unit slides after cash warning Wednesday payment deadline looms BEIJING/HONG KONG,......

Fears grow for China Evergrande after interest deadline missed

Reuters
Evergrande misses payment dedline on dollar bond interest Some bondholders have not been paid – sources Company has 30-day grace period before the bonds default PBOC injects cash into banking system; Evergrande shares fall SINGAPORE/SHANGHAI, Sept 24 (Reuters) – China Evergrande inched closer on Friday to the potential default that......

Evergrande bondholders run out of hope for coupon payment on Thursday -source

Reuters
Chairman reiterates top priority is to help investors Evergrande shares rise 18% boosting other property stocks Investors and analysts play down threat of ‘Lehman moment’ HONG KONG/SINGAPORE, Sept 23 (Reuters) – China Evergrande Group (3333.HK) dollar bondholders were still waiting for information about a key interest payment due Thursday, with......

Deutsche Bank CFO: There should be banking M&A, we must prepare

Reuters
James von Moltke, CFO of Germany’s Deutsche Bank is pictured in Frankfurt, Germany, February 2, 2018. REUTERS/Ralph Orlowski BERLIN, Sept 23 (Reuters) – Deutsche Bank (DBKGn.DE) sees the logic that there should be consolidation in the European banking sector and the task in hand is to prepare for that outcome,......

U.S. carrier Breeze confirms buying 20 more Airbus A220 jets

Reuters
David Neeleman, founder of Azul SA, attends an event to mark the service launch of its new E2-195 planes with Brazil’s No. 3 airline Azul SA in Sao Jose dos Campos, Brazil September 12, 2019. REUTERS/Roosevelt Cassio/File Photo WASHINGTON, Sept 13 (Reuters) – Breeze Airways, the new U.S. carrier founded......

Scores of asset managers fall short on tougher UK best practice code

Reuters
Protesters block traffic at Bank Junction during the Extinction Rebellion protest in London, Britain April 25, 2019. REUTERS/Simon Dawson LONDON, Sept 6 (Reuters) – BlackRock, Fidelity, Legal & General, M&G and abrdn are among 125 firms endorsed under Britain’s tougher best practice code to stop “greenwashing” by asset managers, though......

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