PARIS, May 11 (Reuters) – Hermes (HRMS.PA: Quote, Profile, Research) lifted sales by a
quarter on soaring demand for watches, silk scarves and fashion
accessories, topping three-month growth at European rivals in
the resurgent luxury goods market.
The share jumped as much as 7.6 percent to a 6 1/2-month
high as investors anticipated an earnings upgrade following a
restrained outlook from the purveyor of silk handkerchiefs and
10,000-euro crocodile leather handbags.
PARIS/TOKYO (Reuters) – French reactor maker Areva , stepping up its role in Japan’s clean-up from its worst-ever nuclear disaster, will provide Tokyo Electric Power (TEPCO)
with equipment to clean up radioactive water.
The decontamination plant, which uses a process called “co-precipitation” to isolate and remove radioactive elements, will be delivered after Areva specialists studied the crippled reactor at close range over the last three weeks.
PARIS/MILAN, April 1 (Reuters) – EDF (EDF.PA: Quote, Profile, Research, Stock Buzz) will seek to
replace the chief executive at Italy’s Edison (EDN.MI: Quote, Profile, Research, Stock Buzz) with its
own choice as the French utility regroups for a fight over
control of Italy’s No. 2 power generator.
EDF controls Edison with Italian regional utility A2A
(A2.MI: Quote, Profile, Research, Stock Buzz) through a complex shareholder pact. In March it agreed
with A2A to extend the pact to Sept. 15, buying time to win over
the Italian government on a proposed deal that would give the
French group control of Edison.
If Sergio Marchionne has learned one thing during his nearly two years at Chrysler, it’s this—you can’t turn an American carmaker into an Italian company.
That was the problem with former Chrysler parent Daimler AG, current Chrysler CEO Marchionne told reporters, auto dealers and analysts at a San Francisco conference. The German automaker tried to “impose” its corporate culture on the American automaker during their nine-year partnership, a strategy that stifled creativity at the Auburn Hills, Michigan-based company.
Here’s an idea for Ford — make sure that when you talk to The Street that The Street is listening.
The shine on the Blue Oval got smudged Friday as shares fell as much as 15 percent after its fourth-quarter profit missed estimates by almost 40 percent. Why? Analysts were apparently blindsided by more than $1 billion jump costs in the fourth quarter compared to the third.
As stock bets go it is no way the biggest and not particularly dramatic.
But the decision by Paulson & Co. to pick-up some 1 million shares of Goldman Sachs Group in the second-quarter may be some of the most fitting piece of Wall Street poetry to come out of this latest round of 13-F filings.
Of course Paulson’s fund will forever be linked with Goldman because it was the hedge fund at the heart of the Securities and Exchange Commission’s civil fraud case against the Wall Street bank. The SEC, in April, charged Goldman with failing to disclose that Paulson’s hedge fund had a hand in picking securities for a complex mortgage-related deal that the hedge fund was betting against.
Stifel Nicolaus analyst Greg Mason says American Capital now faces less risk of bankruptcy than it did just a day ago. And although he wouldn’t say it, the highly rated analyst himself may be the reason for the business development company’s apparent reversal of fortunes.
Mason, who has a four-stars on analyst rating service Starmine, said in a note Friday: “We believe the meaningful negative reaction in the share price today (likely the result of a mention of a possible bankruptcy) will incent ACAS management to ‘give in’ to public bondholder demands.”
NEW YORK (Reuters) – The U.S. Justice Department has dropped a probe of American International Group Inc executives involving the credit default swaps that sent the insurer to the brink of bankruptcy and forced a huge taxpayer bailout, lawyers for the executives said on Saturday.
The investigation had centered on AIG Financial Products, which nearly brought down the giant insurer after writing tens of billions of dollars on insurance-like contracts on complex securities backed by mortgages that turned out to be toxic.
NEW YORK, May 22 (Reuters) – The U.S. Justice Department
has dropped a probe of American International Group Inc <AIG.N>
executives involving the credit default swaps that sent the
insurer to the brink of bankruptcy and forced a huge taxpayer
bailout, lawyers for the executives said on Saturday.
The investigation had centered on AIG Financial Products,
which nearly brought down the giant insurer after writing tens
of billions of dollars on insurance-like contracts on complex
securities backed by mortgages that turned out to be toxic.
LONDON/NEW YORK (Reuters) – Goldman Sachs Group Inc faced rising regulatory and legal pressure on Monday as allegations that the bank duped clients fueled momentum for regulatory reform on both sides of the Atlantic.
Shares in the Wall Street powerhouse fell again and the cost of insuring its debt rose as investors struggled to assess how big a hit Goldman and the rest of the financial industry would take from the fraud charges.