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February 28, 2020
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Reuters - Business

London Stock Exchange on track to close Refinitiv deal as income jumps

Reuters
The London Stock Exchange Group (LSE.L) said on Friday it would complete its $27 billion takeover of analytics company Refinitiv on time this year as it reported higher-than-expected annual income, driven a jump in clearing activity. The Refinitiv logo is seen on a screen in offices in Canary Wharf in......
Reuters - Business

UBS cuts Ermotti’s pay after French court blow, overhauls bonus scheme

Reuters
Swiss bank UBS CEO Sergio Ermotti addresses a news conference in Zurich, Switzerland February 20, 2020. REUTERS/Arnd Wiegmann ZURICH (Reuters) – UBS (UBSG.S) Chief Executive Sergio Ermotti cashed in less money in 2019 as the bank made pay concessions related to a French tax case and missed earnings goals during......
Reuters - Business

Mylan quarterly profit beats estimates

Reuters
FILE PHOTO: Logo of Mylan Laboratories, a company primarily engaged in the commercialization of generic drugs is pictured in Merignac near Bordeaux, France, September 19, 2019. REUTERS/Regis Duvignau (Reuters) – Drugmaker Mylan NV (MYL.O) reported a fourth-quarter profit on Thursday that beat estimates, helped by sales of new products such......
Reuters - Business

Taxi group wins right to join Uber’s London license appeal case

Reuters
FILE PHOTO: A screen displays the company logo for Uber Technologies Inc on the day of its IPO at the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2019. REUTERS/Brendan McDermid/File Photo LONDON (Reuters) – A taxi trade association will be able to participate in Uber’s appeal......
Reuters - Business

WPP shares slump to lowest since 2012 as sales slide

Reuters
LONDON (Reuters) – WPP (WPP.L) shares plunged to their lowest level in nearly eight years on Thursday after a sharp slowdown in fourth-quarter trading derailed the latest recovery attempt at the world’s biggest advertising company. FILE PHOTO: Mark Read, CEO of WPP Group, the largest global advertising and public relations......
Reuters - Business

Aston Martin shares slide as losses deepen and finance chief leaves

Reuters
LONDON (Reuters) – Aston Martin (AML.L) shares slumped to a record low on Thursday after the British luxury carmaker said its losses ballooned last year and its chief financial officer would leave by the end of April. FILE PHOTO: Aston Martin DBX, the company’s first sport utility vehicle, is displayed......
Reuters - Business

Aston Martin’s finance boss to leave as losses deepen

Reuters
FILE PHOTO: Aston Martin DBX, the company’s first sport utility vehicle, is displayed at its global launch ceremony in Beijing, China November 20, 2019. REUTERS/Jason Lee LONDON (Reuters) – Aston Martin’s (AML.L) chief finance officer will leave the company after its losses almost doubled last year following a sales drop......
Reuters - Business

Bayer targets 9.6% gain in 2020 adjusted EBITDA

Reuters
FILE PHOTO: A bridge is decorated with the logo of a Bayer AG, a German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay/File Photo LEVERKUSEN, Germany (Reuters) – Germany’s Bayer (BAYGn.DE) said on Thursday it was targeting growth in adjusted core profit of up to 9.6%......
Reuters - Business

AB InBev fourth quarter profit below expectations, sees muted 2020 growth

Reuters
FILE PHOTO: The logo of Anheuser-Busch InBev is pictured outside the brewer’s headquarters in Leuven, Belgium February 28, 2019. REUTERS/Francois Lenoir/File Photo BRUSSELS (Reuters) – Anheuser-Busch InBev ABI.BR, the world’s largest beer maker, suffered a greater than expected fall in core profit in the fourth quarter last year and forecast......
Reuters - Business

Toll Brothers says home sales in California impacted by coronavirus

Reuters
FILE PHOTO: A Toll Brothers housing development is shown in Carlsbad, California, U.S., May 21, 2018. REUTERS/Mike Blake (Reuters) – Home builder Toll Brothers Inc (TOL.N) said on Wednesday that the coronavirus outbreak in China had led to shortages of lighting fixtures and small appliances, forcing it to delay sales......
Reuters - Business

Profit rise lifts Peugeot shares ahead of Fiat merger

Reuters
PARIS (Reuters) – Peugeot maker PSA Group said on Wednesday profitability reached a record high in 2019, results that contrasted with those of many rivals and boosted the group’s shares as it beds down a merger with Italy’s Fiat Chrysler. The French firm, which also produces cars under the Citroen......
Reuters - Business

Profits jump at Peugeot maker PSA ahead of Fiat merger

Reuters
FILE PHOTO: A PSA Group logo is seen behind a car displayed during French carmaker’s news conference as they announce the company’s 2018 results at their headquarters in Rueil-Malmaison, near Paris, France, February 26, 2019. REUTERS/Christian Hartmann PARIS (Reuters) – Peugeot maker PSA Group said profitability reached fresh highs in......
Reuters - Business

Thomson Reuters names new CEO, earnings top estimates

Reuters
NEW YORK (Reuters) – Thomson Reuters Corp (TRI.N) (TRI.TO) said on Tuesday it had appointed former Nielsen Holdings Plc (NLSN.N) president Steve Hasker as its new chief executive officer, succeeding Jim Smith. Newly announced Thomson Reuters president and chief executive officer Steve Hasker poses in Toronto, Ontario, Canada February 24,......
Reuters - Business

JPMorgan raises clean energy spending goals, profit targets unchanged

Reuters
(Reuters) – JPMorgan Chase & Co (JPM.N) on Tuesday largely maintained its key profit goals for the medium term, while the largest U.S. bank also raised its financial commitment for clean-energy initiatives, after years of pressure from environmental activists. FILE PHOTO: The J.P.Morgan logo is seen at Canary Wharf financial......
Reuters - Business

UBS, Credit Suisse’s emergency plans are effective: financial watchdog

Reuters
ZURICH (Reuters) – The emergency plans of UBS (UBSG.S) and Credit Suisse (CSGN.S) to deal with a financial crisis are effective, Switzerland’s regulator FINMA said on Tuesday. FILE PHOTO: The logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland January 27, 2017. REUTERS/Arnd Wiegmann The......
Reuters - Business

Shake Shack sees delivery disruption thru 2020 with Grubhub partnership

Reuters
NEW YORK (Reuters) – Shake Shack Inc (SHAK.N) expects its delivery sales to be volatile throughout 2020 after its move last year to an exclusive partnership with third-party platform Grubhub Inc (GRUB.N), it said on Monday. FILE PHOTO: Customers wait for their food inside of a Shake Shack store in......
Reuters - Business

Teck drops C$20.6 billion oil sands Frontier project, to take writedown

Reuters
TORONTO (Reuters) – Canadian miner Teck Resources Ltd has withdrawn an application to build its C$20.6 billion ($15.7 billion) Frontier oil sands mine in Alberta, days before the federal government was to decide on whether to approve a project opposed by environmentalists and indigenous groups. FILE PHOTO: Teck Resources sign......
Reuters - Business

Buffett defends Berkshire stock push, reassures on future as profit smashes record

Reuters
NEW YORK (Reuters) – Warren Buffett on Saturday forcefully defended Berkshire Hathaway Inc’s (BRKa.N) decision to invest heavily in stocks of companies such as Apple Inc (AAPL.O) as he labors through a four-year drought since his last major acquisition of a company. Buffett, 89, also used his annual letter to......
Reuters - Business

Buffett calls for more accountability for corporate directors

Reuters
(Reuters) – Warren Buffett on Saturday called on corporate America to make their boards of directors more accountable to shareholders and less beholden to chief executive officers, perhaps by reducing their pay and requiring that they buy more stock. FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit......
Reuters - Business

Rising stocks fuel record profit for Buffett’s Berkshire; operating profit disappoints

Reuters
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Saturday posted a 23% decrease in quarterly operating profit, while soaring prices in stock holdings such as Apple Inc enabled the conglomerate to smash its old record for full-year earnings. FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall......

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