Posted by editor on April 28, 2017

Chinese conglomerates, still eager to snap up assets abroad, are rushing to raise money offshore in order to get around capital outflow curbs that have made it much tougher for Chinese bidders to complete outbound mergers and acquisitions.

Posted by editor on April 27, 2017

Raytheon Co (N:RTN) reported a 3.4 percent rise in quarterly revenue, helped by higher sales in its divisions that make Tomahawk cruise missiles and electronic warfare systems.

The company that makes Patriot missile system also raised its 2017 forecast for sales by about $100 million to $24.9 billion-$25.4 billion, and earnings from continuing operations by 5 cents to $7.25-$7.40.

Analysts on average were expecting sales of $25.09 billion, and earnings of $7.40 per share, according to Thomson Reuters I/B/E/S.

Posted by editor on April 26, 2017

AT&T Inc's (N:T) quarterly revenue missed estimates due to lower equipment sales as customers held onto phones longer and rival wireless carriers offered new promotions on unlimited data plans, the No. 2 U.S. wireless carrier said on Tuesday.
It said it lost 191,000 postpaid subscribers, who pay bills monthly, in the United States on a net basis in the first quarter ended March 31.

Posted by editor on April 26, 2017

Credit Suisse (S:CSGN) will raise around 4 billion Swiss francs ($4 billion) through a rights offering to catch up to European rivals on capital, ditching plans to float a minority stake in its Swiss banking unit.
"We expect the capital increase will strengthen our pro forma look-through CET1 ratio to approximately 13.4 percent and our pro forma look-through tier 1 leverage ratio to approximately 5.1 percent, based on our end-1Q17 risk-weighted assets and leverage exposures," Zurich-based Credit Suisse said in a statement on Wednesday.

Posted by editor on April 25, 2017

By Georgina Prodhan and Tom Käckenhoff

HANOVER, Germany (Reuters) - Thyssenkrupp (DE:TKAG) sees the connecting up of its elevators to the internet lifting its profits by millions of euros, the head of its elevator business said this week.

The German industrial conglomerate is preparing to start selling connected elevators in six more countries this year after piloting the system in the United States, Germany and Spain, and aims to hook up at least 100,000 units by mid-2017.

Posted by editor on April 24, 2017

U.S. medical equipment supplier Becton Dickinson and Co will acquire C R Bard Inc, in a $24 billion cash-and-stock deal, adding Bard's devices to its portfolio in the high-growth sectors of oncology and surgery, both companies said on Sunday.

The deal comes two years after Becton Dickinson acquired CareFusion Corp for $12 billion. It is the latest in a string of deals in the medical technology sector, as manufacturers turn to acquisitions to boost profit margins.

Posted by editor on April 21, 2017

A high-stakes shareholder vote at Wells Fargo & Co (N:WFC) next week will determine whether the bank has done enough to retain investor confidence after its phony-account scandal, and whether a leading proxy adviser wields enough clout to help oust most of its board.

Posted by editor on April 20, 2017

Activist hedge fund Elliott Management released the private letter written by Arconic Inc's (N:ARNC) former chief executive, Klaus Kleinfeld, which consequently led to his resignation, and their response to the letter and Arconic's statement on April 17.

Elliott said late on Wednesday that Arconic had created a "public frenzy" for further information and that it had no choice but to make the letter and their response public.

Posted by editor on April 19, 2017

Australian lottery operator Tatts Group Ltd (AX:TTS) on Wednesday said it had received a A$6.15 billion ($4.65 billion) cash takeover proposal from a consortium backed by U.S. private equity firm KKR & Co (N:KKR), threatening an agreed merger with Tabcorp Holdings Ltd (AX:TAH).

The bid values Tatts at A$4.21 a share, the takeover target said. Tatts said its board was assessing how the consortium proposal compared to an offer from betting group Tabcorp that would allow the pair to form an Australian gambling powerhouse.

Posted by editor on April 17, 2017

China's Ant Financial has sweetened its bid for MoneyGram International Inc by 36 percent, beating a rival offer to gain approval from the U.S. electronic payment firm's board, although it still faces regulatory hurdles.

Ant [ANTFIN.UL], the finance affiliate of Alibaba (NYSE:BABA) Group Holding Ltd, increased its bid to $18 per share in cash from $13.25 to value MoneyGram at around $1.2 billion.

That compares with an offer of $15.20 per share from Euronet Worldwide Inc last month.

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