Sunrise Communications’ $6.3 billion deal to buy U.S. cable giant Liberty Global’s Swiss assets, announced on Thursday, immediately hit a snag as a key shareholder said it would shun a planned rights issue to finance the acquisition.
Activist investor Starboard Value LP will vote against Bristol-Myers Squibb Co’s $74 billion acquisition of Celgene Corp, the hedge fund said on Thursday, adding to the number of shareholders declaring against the deal.
Wall Street’s main indexes opened slightly lower on Thursday after a U.S.-North Korea summit ended abruptly without a deal, but losses were limited as data showed the American economy slowed less than expected in the fourth quarter. The S&P 500 opened lower by 4.27 points, or 0.15 percent, at 2,788.11. The Nasdaq Composite dropped 21.19 points, or 0.28 percent, to 7,533.31 at the opening bell.
PG&E Corp, which filed for bankruptcy last month because of potential liabilities from wildfires in California, said it is probable that its equipment will be determined to be an “ignition point” of the 2018 Camp Fire.
Marijuana producer Canopy Growth has roped in lifestyle guru Martha Stewart as an adviser to help develop a line of new pot-based products for both humans and animals, it said on Thursday.
The U.S. economy slowed less than expected in the fourth quarter amid solid consumer and business spending, leaving 2018 growth just shy of the Trump administration’s 3 percent annual target.
Mozambique has filed a case in London’s High Court against Credit Suisse, according to court records.
California power company PG&E Corp, which filed for bankruptcy last month because of potential liabilities from wildfires in the state, recorded a $10.5 billion charge related to 2018 Camp Fire, the company said in a filing on Thursday.
JD.com Inc, China’s second largest e-commerce firm, reported a 22.4 percent jump in quarterly sales on Thursday, beating estimates on the back of robust retail sales and sending its U.S.-listed shares up 13.8 percent in pre-market trade.
The number of Americans filing applications for jobless benefits increased more than expected last week and the number of people on unemployment rolls increased to a 10-month high, suggesting some slowing in the labor market.
The U.S. economy slowed less than expected in the fourth quarter amid solid consumer and business spending, leaving 2018 growth just shy of the Trump administration’s 3 percent annual target.
Global stocks fell for a third straight day on Thursday as investor optimism about U.S.-China trade talks receded, while an early end to the U.S.-North Korean summit in Vietnam and weak Chinese economic data also weighed on sentiment.
J.C. Penney’s comparable-store sales fell at a lower pace than expected, as the department store chain sold more jewelry and apparel during the key holiday shopping season.
J.C. Penney’s comparable-store sales fell at a lower pace than expected, as the department store chain sold more jewelry and apparel during the key holiday shopping season.
U.S. stock index futures edged lower on Thursday after a U.S.-North Korea summit ended abruptly in Vietnam and ahead of a fourth-quarter report on U.S. gross domestic product.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
