Mois : octobre 2019

U.S. companies facing worker shortage race to automate

NEW YORK () – U.S. companies are responding to the lowest unemployment rate in almost 50 years by increasing their focus on automation in order to maintain healthy margins as labor costs tick higher, a analysis of corporate earnings transcripts shows. The attempt to save money through technology does not come down to just installing

UPDATE 4-EU warns France, Italy over budgets, but rows unlikely

STRASBOURG () – The European Commission said France and Italy draft budgets for next year might breach of European Union fiscal rules and it asked for clarification by Wednesday in letters sent to the countries’ finance ministers. FILE PHOTO: European Commissioner for Economic and Financial Affairs Pierre Moscovici presents the EU executive’s economic forecasts during

UPDATE 1-WeWork board accepts SoftBank rescue deal – source

() – WeWork’s board has accepted a takeover plan proposed by SoftBank Group, handing control of the office-sharing startup to the Japanese firm, according to a source directly familiar with the matter. FILE PHOTO: The WeWork logo is displayed outside of a co-working space in New York City, New York U.S., January 8, 2019. /Brendan

UPDATE 1-PR Newswire owner Cision to be taken private for $2.74 billion

() – PR Newswire owner Cision Ltd CISN.N will be acquired by an affiliate of private equity firm Platinum Equity in an all-cash deal valued at $2.74 billion, the company said on Tuesday. The offer represents about 18% premium to Cision’s Monday closing price of $8.45. Earlier this year, reported reut.rs/2Xzk6UJ that the company was

Ethiopia to issue two telcoms licences by April, behind initial schedule

NAIROBI, Oct 22 () – Ethiopia plans to award two telcoms licences to multinational mobile companies by April 2020, breaking the state monopoly by April, the new communications regulator said on Tuesday, an apparent delay in the timeline officials had previously set. Balcha Reba, director general of the Ethiopian Communications Authority, gave the date at

Bosnian region raises $11.4 mln in 1-yr T-bills auction at lower cost

SARAJEVO, Oct 22 () – Bosnia’s autonomous Bosniak-Croat Federation on Tuesday raised 20 million Bosnian marka ($11.4 million) through an auction of 12-month treasury bills, aimed at helping it plug budget gap and finance maturing debt, the Finance Ministry said. Below are the auction details: 22/10/19 28/11/17 YIELD -0.195% 0.02% OFFER 20 million marka 20

Investor Cat Rock: Prosus offer ‘dramatically undervalues’ Just Eat

LONDON, Oct 22 () – Investor Cat Rock Capital said Prosus’ 710 pence-a-share offer “dramatically undervalued” Just Eat, and offered none of the potential upside for shareholders of the agreed merger between Just Eat and Takeaway.com. “Based on historical transaction precedents and market multiples, Prosus should pay at least 5.0x Just Eat’s fiscal year 2020

UPDATE 3-EU warns France, Italy over budgets, but rows unlikely

STRASBOURG () – The European Commission said next year’s draft budgets for France and Italy could be in breach of European Union fiscal rules and it asked for clarification by Wednesday in letters sent to the countries’ finance ministers. FILE PHOTO: European Commissioner Valdis Dombrovskis of Latvia speaks as he attends his hearing before the

UPDATE 1-Homebuilder PulteGroup profit beats expectations on higher sales

() – U.S. homebuilder PulteGroup Inc (PHM.N) reported better-than-expected third-quarter profit and revenue on Tuesday, as lower mortgage rates boosted demand. The housing market, the most sensitive sector to interest rates, has perked up in recent months as the Federal Reserve’s monetary policy easing has pushed down mortgage rates from last year’s multi-year highs. Shares

UPDATE 2-EU’s Tusk taking Brexit request seriously, decision in days

STRASBOURG () – The European Council president said on Tuesday that London’s request for an extension of its deadline for divorce from the EU should be taken seriously, and the bloc’s other members would never take a decision that forces Britain out with no deal. Donald Tusk told the European Parliament that he was discussing

Homebuilder PulteGroup profit falls 5.7%

Oct 22 () – U.S. homebuilder PulteGroup Inc reported a 5.7% fall in third-quarter profit on Tuesday, hit by higher costs. The company’s net income fell to $273.1 million, or 99 cents per share, in the quarter ended Sept. 30, from $289.5 million, or $1.01 per share, a year earlier. Total revenue rose 2.3% to

UPDATE 1-Swiss file first charges in Brazilian « car wash » corruption probe

FILE PHOTO: Brazil’s state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil October 16, 2019. /Sergio MoraesZURICH () – Switzerland has pressed charges against a person in a corruption probe of Brazilian state oil company Petrobras (PETR4.SA) and construction firm Odebrecht, the attorney general’s office said, adding it was seeking to conclude

UPDATE 2-EU seeks clarification over France, Italy budgets

STRASBOURG () – The European Commission said next year’s draft budgets for France and Italy could be in breach of European Union fiscal rules and it asked for clarification by Wednesday in letters sent to the countries’ finance ministers. FILE PHOTO: European Commissioner Valdis Dombrovskis of Latvia speaks as he attends his hearing before the

Berlin’s city government adopts rent freeze bill – rbb broadcaster

BERLIN, Oct 22 () – Berlin’s city senate on Tuesday adopted bill which will freeze rents in the German capital for five years, public broadcaster rbb reported, citing senate sources. Berlin’s parliament still needs to formally adopt the bill. The new law is expected to come into effect in January 2020. Reporting by Riham Alkousaa

‘Unbearable pain’ cuts short Philippine leader’s Japan trip

MANILA () – Philippine President Rodrigo Duterte was forced to cut short his attendance of the enthronement of Japan’s emperor on Tuesday, due to what his office said was “unbearable pain” in his lower back after a motorcycle mishap last week. Philippines President Rodrigo Duterte arrives to attend the enthronement ceremony of Japan’s Emperor Naruhito

UPDATE 1-EU’s Juncker brands Brexit a « waste of time and energy »

STRASBOURG () – European Commission President Jean-Claude Juncker said on Tuesday that Brexit has been a “waste of time and energy”, and it has irked him that he could not have spent more of his five-year mandate on making the bloc serve its citizens better. European Commission President Jean-Claude Juncker speaks during a debate on

Saudi Arabia hires JPMorgan, Standard Chartered for $2.5 bln sukuk

DUBAI, Oct 22 () – Saudi Arabia has hired banks, including JPMorgan and Standard Chartered, to manage a $2.5 billion issuance of sukuk, or Islamic bonds, a document by one of the banks leading the deal showed. The deal would be the kingdom’s first international debt transaction since attacks on its oil facilities last month

CORRECTED-European shares dip after flood of earnings

FILE PHOTO: Traders work at Frankfurt’s stock exchange in Frankfurt, Germany, October 17, 2019. /Ralph Orlowski() – European shares inched lower on Tuesday as investors sifted through a mixed bag of corporate earnings and eyed latest developments on U.S.-China trade talks and Britain’s progress towards some form of orderly departure from the European Union. Germany’s

China stocks climb, as techs lend support

SHANGHAI, Oct 22 () – China stocks recouped earlier losses to end higher on Tuesday, bolstered by tech firms as investors cheered their solid earnings as Beijing seeks to support the sector amid a bruising trade war. ** The blue-chip CSI300 index rose 0.4%, to 3,895.88, while the Shanghai Composite Index added 0.5% to 2,954.38.

China probes P2P lender over ‘intimidation’ as crackdown widens

BEIJING/SHANGHAI, Oct 22 () – Chinese police are investigating financial technology firm 51 Credit Card Inc for allegedly hiring debt collectors that used intimidation and harassment, part of a broader crackdown on the peer-to-peer lending (P2P) sector. Police said they had received an abnormally large number of complaints about Hangzhou-based 51 Credit Card, which started

Australian, NZ shares cheered by Sino-U.S. trade optimism

(Updates to close) Oct 22 () – Australian shares advanced on Tuesday on signs that Washington and Beijing had made some headway in resolving a protracted trade row, while miners also benefited from a strong tailwind of higher commodity prices. The S&P/ASX 200 index tacked on 0.3%, or 19.70 points, to 6,672.20, having ended flat