April, 2018

• 28 April

  ZTE fails to address US sanctions as it says earnings surged

  Bloomberg ZTE Corp. reported its earnings have surged, without addressing the impact of US sanctions that threaten to derail its crucial global expansion into next-generation telecoms networking. The second-largest Chinese telecom gear maker, which had delayed its results release by a week to digest a seven-year ban on purchasing American components, didn’t offer an update on the crisis. Instead, the ...

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• 28 April

  India nears power success, but millions still in the dark

  

  Bloomberg Prime Minister Narendra Modi stormed to victory in 2014 on pledges to improve the lives of Indians, including bringing power to every citizen. Rural electrification became a cornerstone of the prime minister’s plan, which included connecting more than 18,000 villages by the end of this month. And with only a few left to be electrified, according to government data, ...

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• 28 April

  T-Mobile, Sprint near telecom merger deal worth $24 billion

  

  Bloomberg T-Mobile US Inc. and its German owners are advancing towards a long-awaited telecommunications union that would value merger partner Sprint Corp. at about $24 billion, according to people with knowledge of the matter. Under the terms being discussed, T-Mobile backer Deutsche Telekom AG would receive a 42 percent stake and 69 percent voting interest in the combined company, said ...

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• 28 April

  Fuji takeover of Xerox temporarily blocked

  

  Bloomberg Xerox Corp.’s plan to sell itself to Japanese rival Fujifilm Holding Corp. was temporarily blocked by a New York judge who determined the chief executive officer behind the deal was trying to preserve his own job. Investor Darwin Deason sued to block the transaction, accusing CEO Jeffrey Jacobson of acting without authorisation to strike a deal with Fujifilm that ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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