Sears Holdings Corp said on Thursday its chairman Eddie Lampert won a bankruptcy auction for the U.S. department store chain with an improved takeover bid of $5.2 billion, allowing the 126-year-old retailer to keep its doors open.
State-backed British bank Royal Bank of Scotland is to consult with shareholders on plans for a buyback of its shares owned by the Government, using excess capital to accelerate its return to private ownership.
Morgan Stanley’s profit fell short of analyst expectations as trading revenue slumped more than rivals and its wealth management business faltered, sending its shares down more than 5 percent.
Germany’s Siemens and France’s Alstom agreed in 2017 to merge their rail assets, hoping to create a European industrial champion. But the EU’s competition authority has doubts about the deal and could turn it down, despite the companies offering to take steps to clinch it.
Wall Street’s main indexes fought back from a weak start to hover near one-month highs on Thursday, as gains in healthcare and consumer discretionary stocks offset losses in the energy and financial sectors.
Leslie Moonves, who resigned under pressure as CEO of CBS Corp , is challenging the company’s decision to deprive him of $120 million in severance pay, according to a regulatory filing on Thursday.
Swiss watchmakers Audemars Piguet and Richard Mille are snapping up stakes in their franchised shops, seeking to tighten their grip on the sales network as a growing number of top brands ditch wholesalers.
Japan’s Hitachi Ltd put a $28 billion nuclear power project in Britain on hold on Thursday, dealing a blow to the country’s plans for the replacement of aging plants.
Concern over China’s economic outlook and possible U.S. tariffs on European cars dragged stocks lower on Thursday, while an anti-climactic end to the latest chapter in the Brexit saga offered sterling a moment’s peace.
U.S. stocks dipped at open on Thursday, retreating from one-month highs, hit by losses in financial stocks after Morgan Stanley’s weak results and energy shares hurt by a drop in oil prices.
Wall Street’s main indexes were set to retreat from one-month highs on Thursday, hit by Morgan Stanley’s weak results and renewed concerns over the progress of Sino-U.S. trade talks.
The German government is debating whether to follow the United States and allies like Australia in restricting China’s Huawei Technologies from accessing its next-generation mobile networks on national-security grounds.
The number of Americans filing applications for jobless benefits unexpectedly fell last week, pointing to sustained labor market strength that should continue to underpin the economy.
Citigroup Inc on Thursday named David Livingstone as head of its operations in Europe, the Middle East and Africa region, in place of Jim Cowles, according to a memo seen by Reuters.
Like many Argentine businessmen, Marco Meloni is doing everything he can to avoid laying off staff at his textile factory despite a slump in sales, more than 70 percent interest rates and soaring utility bills.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
