News Highlights: Top Equities Stories of the Day
May 03 2016 - 2:15AM
Dow Jones News
China-led Consortium Withdraws Bid for Australian Cattle Empire
Chinese investors have withdrawn a bid to buy Australia's
largest cattle-ranch empire, S Kidman & Co. Ltd., after the
government recently said it planned to reject the deal on grounds
that it wasn't in the country's interest. (published 0551 GMT)
Solvay to Sell 70.59% Stake in Solvay Indupa to Brazil's Unipar Carbocloro
Franco-Belgian chemicals company Solvay SA said Tuesday it was
selling its 70.59% stake in Solbay Indupa, its unit in Argentina
and Brazil, to Brazilian chemical company Unipar Carbocloro.
(published 0546 GMT)
Fresenius Profit Lifted by Medical Care Unit
German healthcare company Fresenius SE said Tuesday that its
first-quarter revenue and profit rose, helped by a lower tax rate
and robust sales growth at Fresenius Medical Care. (published 0549
GMT)
UBS Profit Hurt by Wealth Management Decline -- Update
UBS Group AG said Tuesday that its first-quarter net profit fell
sharply from the same period last year, as the Swiss lender's
wealth management business suffered and its investment bank failed
to pick up the slack. (published 0544 GMT)
Commerzbank Outlook in Doubt as Profit Drops
Commerzbank AG cast further doubt over its full-year outlook
Tuesday as first-quarter net profit more than halved, with the
German bank battling ultralow interest rates and sluggish activity
in capital markets. (published 0533 GMT)
Lufthansa Reports Smaller Operating Loss, Plans to Trim Capacity
Deutsche Lufthansa AG posted a narrower first quarter-operating
loss, a closely watched measure of its performance, and said it may
cut capacity to offset weak ticket prices. (published 0546 GMT)
Alipay Users Can Now Use it to Hail Uber Cars World-Wide
Users of China's most popular digital-payment service, Alipay,
can now use the mobile app to hail a car anywhere in the world
where Uber is available. (published 0530 GMT)
Solvay 1Q Net Income Down 5%
Franco-Belgian chemicals company Solvay SA reported a 2% rise in
earnings on Tuesday for the first quarter of 2016, while its net
income dropped 5% from the year-earlier period. (published 0542
GMT)
BNP Paribas Profit Up as Loan Provisions Drop -- Update
French bank BNP Paribas SA reported a jump in first-quarter net
profit on Tuesday despite difficult markets, as lower provisions
against bad retail loans and a debt valuation adjustment helped
offset sharply lower investment banking revenue. (published 0510
GMT)
PLDT 1Q Net Profit Drops 34% to PHP6.2 Billion
Philippine Long Distance Telephone Co. said Tuesday net profit
in the first quarter dropped 34% from the previous year to 6.2
billion pesos, weighed down by higher product subsidies, financing
costs and depreciation charges. (published 0515 GMT)
Fairway Group Holdings Files for Chapter 11 Bankruptcy Protection
New York supermarket chain Fairway Group Holdings Corp. Cl A
said late Monday it has filed for Chapter 11 bankruptcy protection,
months after warning of the possibility of breaching its loan
agreement. (published 0533 GMT)
SM Investments 1Q Net Profit PHP7.0 Bln, Up 3.6% From Year Ago
SM Investments Corp., the Philippines' largest conglomerate by
market capital, said Tuesday net profit in the first quarter rose
3.6% year over year to seven billion pesos, underpinned by strong
consumer spending. (published 0536 GMT)
HSBC Holdings 1Q Net Profit US$4.30 Bln
HSBC Holdings PLC said market volatility in the beginning of
2016 dragged on its ability to generate revenue as it reported a
18.2% decline in net profit in the first quarter of this year.
(published 0447 GMT)
Bank of the Philippine Islands 1Q Net Profit Up 1.3% at PHP4.98 Bln
Bank of the Philippine Islands said Tuesday its first-quarter
net profit rose 1.3% from a year earlier to 4.98 billion pesos,
driven by higher lending and non-interest income as well as
securities trading. (published 0449 GMT)
(END) Dow Jones Newswires
May 03, 2016 02:00 ET (06:00 GMT)
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