Category: Business

Australia investigator met other regulators before Citi, Deutsche charges

An Australian investigator who helped bring criminal cartel charges against Citigroup Inc (C.N) and Deutsche Bank AG (DBKGn.DE) told a court he met agents from another regulator in a cafe to discuss the matter but the talks were “high level” only. Citi, Deutsche, their client Australia and New Zealand Banking Group Ltd (ANZ.AX) and several […]

Woodside holds on to stake in Senegal oil field as FAR challenge fails

ConocoPhillips’ (COP.N) sale of a stake in a $4.2 billion Senegal oil and gas project to Woodside Petroleum (WPL.AX) has been cleared by an international tribunal, resolving a long-running challenge by Australian partner FAR Ltd (FAR.AX). Woodside and FAR said on Friday an International Chamber of Commerce panel had ruled that FAR did not have […]

Walmart’s Mexico unit blames government cash aid, as revenue rise slowest in three quarters

Walmex, as the unit of Walmart Inc (WMT.N) is known locally, said revenue rose 4.7% in the fourth quarter of 2019, it slowest since the 4.6% clocked in the year’s first quarter. Walmex’s Bodega family of warehouse-style supermarkets comprise nearly 80% of the retailer’s stores in Mexico, the largest foreign market by store count for […]

Judge OKs Philly refiner’s bankruptcy plan, sale to property developer: documents

Judge Kevin Gross signed off on the PES bankruptcy agreement, filed with the United States Bankruptcy Court for the District of Delaware, a day after indicating at a public hearing that he was likely to do so. Hilco Redevelopment Partners, which becomes the new owner of the roughly 1,300-acre (526-hectare) PES refinery site as part […]

Mattel beats profit estimates as cost cuts take hold

Mattel Inc (MAT.O) on Thursday beat estimates for quarterly profit as it benefited from a robust cost-cutting program, even as holiday season sales of its flagship Barbie brand in North America were pressured by Hasbro Inc’s (HAS.O) “Frozen” dolls. Shares rose nearly 5% to $15.11 in extended trading. The company exceeded its initial 2019 cost-cutting […]

Five things to look out for in HSBC’s new strategy

HSBC (HSBA.L) on Tuesday reports 2019 results and will set out its new strategy, where interim Chief Executive Noel Quinn will audition for the permanent role by announcing major restructuring efforts. Here are five key things to look out for: 1- Will Noel Quinn be confirmed as CEO? The 57 year-old HSBC veteran has been […]

Hedge funds test Swiss tolerance with franc gambit

Hedge funds betting that the Swiss franc will climb further against the euro will soon meet their match, according to investors who are taking the other side of the trade. The Swiss currency on Thursday climbed to a 4-1/2 year high of 1.061 francs per euro EURCHF=EBS, fast approaching the point where its central bank […]