International News

Bloomberg They have little chance of success, but the shareholder group trying to derail Takeda Pharmaceutical Co.’s $62 billion purchase of UK-listed Shire Plc is making last-minute attempts to win over investors. The dissident holders account for only about 1 percent of Takeda’s shares outstanding, but the group is raising its profile as the Japanese drugmaker inches toward completing its ...

Bloomberg Apple Inc shares dropped close to bear market territory on concern consumers are no longer clamouring for its cornerstone product, the iPhone. The stock closed at a record of $232.07 on October 3. Since then it’s plunged almost 20 percent — the official bear market threshold — as multiple suppliers indicated the company is cutting parts orders for the ...

Bloomberg BASF SE Chief Executive Officer Martin Brudermueller unveiled a comprehensive redesign of the chemical giant’s corporate structure to boost profit by 2 billion euros ($2.3 billion) from 2021 and challenge smaller, more focussed competitors. The Ludwigshafen, Germany-based company is also targeting growth in earnings before interest, taxes, depreciation and amortisation of 3 percent to 5 percent per year, although ...

Bloomberg Britain’s pollution levels would probably rise if the country crashes out of the European Union without a deal, breaching a key pledge Prime Minister Theresa May has made to rein in emissions. That’s the conclusion of Bloomberg NEF, which forecasts that burning coal would increase in the first quarter of next year if there’s a no-deal Brexit. Without a ...

Bloomberg Despite strong incentives in the Republican tax plan for American executives to expand, invest and ultimately boost the US economy’s growth potential, a lot of the debt companies are issuing appears to be motivated by something else. Non-financial corporate debt stands at 45.6 percent of gross domestic product, near the highest in post-war record keeping. Despite that, non-residential investment ...

Bloomberg PG&E Corp may be poised for further volatility on Monday after disclosing a second power-line failure on the morning that California’s deadliest fire began. A circuit in Concow, Butte County, failed at about 6:45 am on November 8, the utility said in a filing to the state’s Public Utilities Commission. The California Department of Forestry and Fire Protection, known ...

Bloomberg The former chief executive officer of Intel Corp who was ousted over an inappropriate relationship with an employee has accepted a marginal pay cut to join CDK Global Inc, a much smaller company that provides software to the auto industry. Brian Krzanich was named CEO and a member of the board. He’ll succeed Brian MacDonald, who had been leading ...

Bloomberg The UK government has drawn up a package of reforms to improve the way public services are outsourced, after construction firm Carillion Plc became one of the biggest corporate casualties in British history this year. Outsourcing firms, including Serco Group Plc and Capita Plc, will issue “living wills” over the coming weeks, Cabinet Office Minister David Lidington plans to ...

Bloomberg Telecom Italia SpA’s decision to name Luigi Gubitosi as its new chief executive officer marks another victory for Elliott Management Corp in its push for a radical overhaul of the embattled phone company. The board, stacked with directors representing billionaire Paul Singer’s fund, chose the former Merrill Lynch banker at a meeting. Gubitosi succeeds Amos Genish, who was ousted ...

Bloomberg Nissan Motor Co. will remove Carlos Ghosn as chairman after he was arrested in Tokyo for violations of financial law, throwing the auto industry’s largest global alliance into turmoil. Ghosn, among the most prominent car-industry leaders globally and also the Chief Executive Officer of Renault SA, has been arrested over the suspected breach of Japanese financial trading law, the ...