April, 2018

• 28 April

  J&J pushes court to toss $151mn hip verdict

  

  Bloomberg Johnson & Johnson persuaded an appeals court to throw out a $151 million award against the company over its Pinnacle artificial hips in a ruling that will affect thousands of lawsuits over the devices. A judge’s error in allowing hip recipients’ lawyers to use “highly prejudicial” evidence about bribes paid by officials of J&J units in their 2016 case ...

  Read More »
• 28 April

  Allergan’s next strategic move is key focus ahead of earnings

  Bloomberg Allergan has a valuation problem and investors want to know what management is going to do about it. Shares have given up 37 percent of their value in the past nine months amid patent issues and competitive pressures. CEO Brent Saunders is sure to face questions on the company’s strategic review during Monday’s earnings call. In March, he promised ...

  Read More »
• 28 April

  AT&T’s sluggish sales put more pressure on Time Warner deal

  

  Bloomberg AT&T Inc. sales and earnings missed analysts’ estimates last quarter, putting additional pressure on the company to complete its Time Warner Inc. takeover and transition into a more diversified media giant. Earnings amounted to 85 cents a share in the quarter, excluding some items, the carrier said . That fell short of the average prediction of 88 cents, sending ...

  Read More »
• 28 April

  Bombardier C Series set to become just another Airbus plane after deal

  

  Bloomberg Airbus SE plans to cap its takeover of the Bombardier Inc. C Series jetliner by scrapping the Canadian plane’s 14-year-old branding, people familiar with the plan said. Among the names under consideration for a plane in which Bombardier invested more than $6 billion is “A200,” according to the people, who asked not to be identified as no decision has ...

  Read More »
• 28 April

  JetBlue trims Long Beach after int’l service nixed

  

  Bloomberg JetBlue Airways Corp. will reduce flights out of Long Beach by more than a third, after the California city blocked the carrier’s plans to add international flights, leaving a hole in its network from southern California. Daily departures from Long Beach will drop to 23 from 35 starting from September 5, JetBlue said in a statement. The move is ...

  Read More »
• 28 April

  Steinhoff ex-chief Christo Wiese sues firm for $4.8bn

  

  Bloomberg Steinhoff International Holdings NV ex-Chairman Christo Wiese is suing the scandal-hit retailer for $4.8 billion as the South African billionaire seeks to recoup investments he made in the company in 2015 and 2016. The retail tycoon was the biggest shareholder in the owner of Conforama in France and Mattress Firm in the US when the company reported a hole ...

  Read More »
• 28 April

  Founder steps in as India’s InterGlobe head exits

  

  Bloomberg InterGlobe Aviation Ltd.’s billionaire director Rahul Bhatia has taken over as interim chief executive officer after its president and director Aditya Ghosh unexpectedly resigned before a board meeting, the operator of India’s biggest airline said in an exchange filing. Ghosh is leaving at a time when the airline is changing some of its most successful policies such as moving ...

  Read More »
• 28 April

  Elliott takes on Amazon with purchase of bookseller Waterstones

  

  Bloomberg Paul Singer’s activist hedge fund, best known for its jousts with underperforming corporate titans, is about to start selling books in the UK. Elliott Advisors, a unit of Elliott Management Corp., has entered a binding agreement to acquire Waterstones from Alexander Mamut’s Lynwood Investments, the bookseller said in a statement. Waterstones operates a chain of 283 bookshops in the ...

  Read More »
• 25 April

  UAE, Mexico to boost tourism ties

  MEXICO CITY / WAM The UAE Ambassador to Mexico Ahmed Hatem Al Menhali met with Mexico’s Secretary of Tourism Enrique de la Madrid Cordero in the country’s Ministry for Tourism located in Mexico City, to discuss a number of issues of common interest. The two sides reviewed ways to enhance relations, namely boosting bilateral tourism between the UAE and Mexico ...

  Read More »
• 25 April

  NBF profit up 15.3%

  DUBAI / WAM National Bank of Fujairah (NBF) announced that it achieved to AED145.4 million in net profits in Q1 2018, with 15.3 percent rise compared to AED126.1 million in the corresponding period of 2017. Easa Saleh Al Gurg, NBF Deputy Chairman, said, “This reflects solid core business growth and proactive asset and liability management, the bank said in statement. ...

  Read More »