TESCO WARNS ON PROFIT
Tesco issued its third profit warning in as many years and said
it would slash its interim dividend and reduce capital expenditure,
underscoring the challenge facing incoming CEO Dave Lewis.
MALAYSIA AIRLINES REVIVAL TO COST UP TO $1.9 BILLION
Malaysia's state investor plans to spend up to US$1.9 billion to
revive Malaysia Airlines, which will cut staffing levels by 30% and
stop flying unprofitable routes.
FIAT AVOIDS CHRYSLER MERGER ROAD BLOCK
Fiat got the green light from shareholders to create Fiat
Chrysler Automobiles, a company with a tax residency in the U.K.,
legal headquarters in Amsterdam and a primary stock listing in New
York.
WOODSIDE PROFIT RISES ON OIL OUTPUT
Woodside Petroleum reported a 27% increase in first-half profit,
as crude-oil prices stayed high and a vessel that pumps oil from
deep below the sea off northwestern Australia resumed work
following maintenance.
VIRGIN AUSTRALIA SELLS STAKE IN FREQUENT-FLIER BUSINESS
Virgin Australia Ltd. sold a stake in its frequent-flier
business to U.S. private-equity firm Affinity Equity Partners after
the airline posted a deep annual loss.
NATIONAL AUSTRALIA BANK TO SELL GREAT WESTERN STAKE IN IPO
Less than a month into the job, National Australia Bank Ltd.'s
new Chief Executive Andrew Thorburn has begun a process its
shareholders have been urging for some time--selling global assets
to refocus energies closer to home.