Month: December 2019

If you own shares in Immunicum AB (publ) (STO:IMMU) then it’s worth thinking about how it contributes to the… …read more […]

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Prosus NV has raised its bid for U.K. food delivery firm Just Eat Plc as it tries to win over investors and beat out an offer from rival Takeaway.com NV.The technology investment company, spun out of Naspers Ltd., increased its cash offer by 4.2% to 740 pence per share, valuing Just Eat at about 5.1 billion pounds ($6.7 billion), Prosus said in a statement on Monday.Just Eat’s management has been encouraging investors to vote for Takeaway’s all-share deal, which would give them …read more […]

Tullow Oil shares more than halved on Monday as Chief Executive Officer Paul McDade stepped down and the energy company scrapped its dividend after failing to meet production targets due to weak performance by flagship assets in Ghana. The company has been plagued by technical problems at its Jubilee field in Ghana and a delay in completing a well at the TEN offshore field, which led Tullow to cut its estimates for 2019 oil output last month. Tullow also suffered blows in recent months due to setbacks at East Africa projects in Uganda and Kenya, as well as …read more […]

British Prime Minister Boris Johnson said on Monday he would try to find a way to honour his promise to oppose Heathrow airport expansion by lying down in front of bulldozers but that it might be difficult for him. The British parliament has approved an expansion plan for Heathrow, including building the first full-length new runway in the London area for 70 years, but the plans are being challenged in the courts. Before he won the top job, Johnson opposed Heathrow expansion and promised to lie down before bulldozers to stop it. …read more […]

(Bloomberg) — Beleaguered Coffee Day Enterprises Ltd.’s sale of its technology park to Blackstone Group Inc. is stalled as one of its creditors hasn’t approved the deal, people with the knowledge of the matter said.Yes Bank Ltd. hasn’t issued the so-called no objection certificate as it’s seeking assurances on repayments of other loans taken by Coffee Day, said the people, asking not to be identified as the information isn’t public. All other creditors have approved the transaction, the people said.Shares of Coffee Day extended decline to as much as 14.5% in Mumbai, which is the biggest drop since July 31.Coffee …read more […]

Lufthansa will initiate the sale of the parts of its catering unit LSG it is not selling to Switzerland’s Gategroup early next year, the German carrier said on Monday. Lufthansa announced last month it is selling the European operations of LSG to Gategroup. The businesses it is selling generated revenues of around 1.1 billion euros ($1.21 billion)last year – about a third of LSG’s total. …read more […]

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Tullow Oil Plc’s chief executive officer and exploration director quit after a slew of operational setbacks, marking the exit of the old guard after founder Aidan Heavey departed last year. Shares slumped.CEO Paul McDade and exploration chief Angus McCoss resigned by mutual agreement and with immediate effect, London-based Tullow said Monday as it suspended the dividend. Both had been stalwarts at the company for over a decade, presiding over discoveries from West Africa to Guyana, but also a 90% slide in the …read more […]

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Britain’s biggest supermarket chain, Tesco Plc, is considering the sale of its operations in Thailand and Malaysia as it refocuses on its domestic business amid mounting challenges in the core U.K. market.The company is carrying out a strategic review of the businesses after receiving what it called inbound interest, according to a statement. The shares rose 4.6% early Monday in London, and they’re up 28% this year. A sale could value the operations at 6.5 billion to 7.2 billion pounds ($8.6 billion …read more […]

(Bloomberg Opinion) — After a decade of gloom, there’s a new sense of euphoria in Athens. The Greek stock exchange is on course to be the world’s best performer this year because investors believe the new prime minister, Kyriakos Mitsotakis, will deliver on his promise to attract foreign investment and boost growth.The star performers are bank shares, which have nearly doubled in value in less than 12 months. Politicians and financiers believe they’ve found the magic cure for the banking system’s plague of bad loans. The scheme — called “Project Hercules” — involves a complicated mix of securitization and state …read more […]

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.French pharma giant Sanofi agreed to buy Synthorx Inc. for $2.5 billion, more than double the U.S. biotech company’s last market price, accelerating its push into the field of cancer under new Chief Executive Officer Paul Hudson.Sanofi will pay $68 a share in cash for Synthorx, the companies said Monday. Shares of the unprofitable San Diego-based company closed at $25.03 Friday, having surged 40% last week.The deal underscores the Paris-based drugmaker’s efforts to build its portfolio of innovative therapies in the fast-growing …read more […]

China said on Monday that it hoped to make a trade deal with the United States as soon as possible, amid intense discussions before fresh U.S. tariffs on Chinese imports are due to kick in at the end of the week. Beijing hopes it can reach a trade agreement with the United States that satisfies both sides, Assistant Commerce Minister Ren Hongbin told reporters on Monday. China and the United States are negotiating a so-called “phase one” deal aimed at de-escalating their prolonged trade dispute, but it is unclear whether such an agreement can be reached in the …read more […]