Bloomberg GAM Holding AG Chief Executive Officer Peter Sanderson is cutting bonuses and signalling talks on layoffs will begin imminently as the company adapts to losing more than 40% of its key assets in a rogue trading scandal. Bonuses will be cut since underlying profits are materially lower and the company will pay a higher proportion in deferred shares, Sanderson ...

Bloomberg British firms issued 313 profit warnings in 2019, with consumer discretionary businesses — including retail and travel and leisure —, industrial support services, software services and construction and materials hit the hardest. The number of listed companies warning in 2019 was also the highest in 18 years, marginally above the figure of 2008, the report showed. “The UK economy ...

Bloomberg Germany took first place in the 2020 Bloomberg Innovation Index, breaking South Korea’s six-year winning streak, while the US fell one notch to No. 9. Singapore’s leap into the third-place ranking returns it to its post from two years ago. The annual Bloomberg Innovation Index, in its eighth year, analyses dozens of criteria using seven metrics, including research and ...

Bloomberg New Jersey Governor Phil Murphy has signed a bill that represents the state’s most ambitious strategy to promote electric vehicles (EV). New Jersey, where transportation accounts for about half of greenhouse gas emissions, joins about a dozen other states that have targets for electric-vehicle adoption. The bill calls for 2 million plug-in electric vehicles by 2035, and offer consumers ...

The global debt balloon continues to inflate — with what consequences no one knows. Could the balloon soon become a “bubble” that pops, causing a new financial crisis? It hardly seems impossible. The latest worldwide debt figures are not reassuring. In September, global debt of all varieties (government, business and consumer borrowing) totalled $253 trillion, up $9 trillion from the ...

Anglo American Plc is dabbling in creative M&A. Buying an English fertilizer project for just over $500 million, excluding debt, is more than manageable for a $35 billion mining giant that generated $1.3 billion in free cash flow in the first half of last year. It’s also a gamble on an unproven niche market that speaks to the paucity of ...

There’s an old saying in retail that despite all the bluster, not much really changes over the holiday shopping season: Those store groups that have been winning keep on doing so, while the losers continue to suffer. Target Corp. just became the exception to this rule. The big-box retailer has been a consistently strong performer over the past couple of ...

A would-be Boeing Co. takeover target has found its own dance partner. Woodward Inc., a maker of cockpit controls and engine-actuation systems, announced last week that it’s merging with fellow aerospace supplier Hexcel Corp. The all-stock deal values Hexcel, a maker of lightweight composite materials, at about $7.5 billion including debt, with Woodward shareholders set to own about 55% of ...

China is opening the deepest, darkest corner of its strained financial system to American financial institutions. It’s not clear why investors would want to go there, even with their eyes wide open. As part of President Donald Trump’s phase one trade deal, China will allow US institutions to apply for asset management company licenses (beginning with the provinces), permitting them ...

The club of UK takeover targets that never get bought has an undisputed leader — Pearson Plc. But the logic of taking the troubled educational publisher private now looks stronger than it has for some time. The company’s defenses could scarcely be weaker, and there’s a plausible recovery strategy to be built amid the wreckage. The firm has been clobbered ...