April, 2018

• 24 April

  Rolls-Royce considers China venture for new wide-body jet

  

  Bloomberg Rolls-Royce Holdings Plc is in talks with Aero Engine Corporation of China on a possible partnership that would see the companies jointly supply engines for a new wide-body aircraft planned by China and Russia, according to people familiar with the matter. The two companies met earlier this year on whether to cooperate on the turbine for the CR929 wide-body, …

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• 24 April

  Southwest plans more NYC, Washington flights as Alaska Air retreats

  

  Bloomberg Southwest Airlines Co. plans to expand service from New York City and Washington this year after completing a deal to lease slots from Alaska Air Group Inc. at maxed out airports. Southwest will be able to add six round-trip flights at New York’s LaGuardia Airport and four at Ronald Reagan Washington National Airport. The 10-year lease begins in October …

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• 24 April

  Activist Jana takes Pinnacle Foods stake, explores a sale

  Bloomberg Jana Partners, the activist fund run by Barry Rosenstein, disclosed a stake in Pinnacle Foods Inc. and is urging the packaged food manufacturer to explore a sale or another transactions in the frozen food space. The New York-based hedge fund and its partners own 9.5 percent of the food manufacturing company, according to a regulatory filing. Jana said in …

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• 24 April

  United CEO skips bonus, chairman to step aside

  

  Bloomberg United Continental Holdings Inc.’s top executive is giving up his bonus and its chairman is stepping aside. Chief Executive Officer Oscar Munoz asked the board not to award him the payout for 2017, the airline said in a regulatory filing. Chairman Robert Milton, a former Air Canada CEO, will be replaced with another independent board chief. Laurence Simmons, a …

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• 24 April

  Fairfax to buy Toys ‘R’ Us Canada unit for $237 million

  Bloomberg Fairfax Financial Holdings Ltd., the investment firm run by billionaire Prem Watsa, signed an agreement to buy the Canadian unit of Toys ‘R’ Us Inc. for about $237 million. The so-called stalking horse bid allows other potential buyers were expected to enter competing proposals, according to a US bankruptcy court filing submitted by Toys ‘R’ on Thursday. Fairfax would …

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• 24 April

  Walmart sees Flipkart as key to atone for missteps in China

  

  Bloomberg Walmart Inc. lost out in China by betting on the wrong horse. In India, the retailer is prepared to pay up to secure the top steed. The world’s biggest retailer is nearing a deal to buy a majority stake in India’s top online retailer for at least $12 billion, people familiar with the matter said. Flipkart Online Services Pvt’s …

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• 23 April

  Dollar advances as Treasury yield threatens to climb above 3%

  

  Bloomberg The dollar rallied at the start of a week packed with catalysts, from economic data to new debt supply, as the yield on benchmark US Treasuries threatened to climb above 3 percent. Equities in the US fluctuated. The greenback strengthened against major peers as the yield on the US 10-year note hit 2.99 percent for the first time since …

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• 23 April

  To flee stronger euro, equity investors can try Spain, Italy

  

  Bloomberg Love the currency, hate the stocks. Thanks to a strong exchange rate, clouds are once again gathering over European equities. That’s because the euro’s appreciation to an almost three-year high could mean overseas earnings lose some of their shine after conversion. Each 10 percent gain in the euro trims about 6 percent off earnings per share, Credit Suisse Group …

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• 23 April

  Walmart close to $12bn deal for India’s top e-comm firm Flipkart

  

  Bloomberg Walmart Inc. is close to finalising a deal to buy a majority stake in India’s leading e-commerce company for at least $12 billion and may complete the agreement in the next two weeks, according to people familiar with the matter. All the major investors in Flipkart Online Services Pvt are now on board with the Walmart purchase, after an …

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• 23 April

  Amazon’s US packaged food Q1 sales up 48%

  

  Bloomberg Amazon.com Inc. shoppers are buying more packaged foods, pushing the e-commerce giant deeper into grocery sales. The world’s largest online retailer sold $650 million worth of consumer packaged food items in the first quarter, a 48 percent increase over the same period a year earlier, research firm One Click Retail said. Packaged food items include coffee, salad dressings, baby …

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