Richemont Hurt by Currencies
Richemont is among luxury companies battling large currency
swings and weakening demand in key markets such as Hong Kong.
Uber in Talks for $1 Billion Credit Facility With Banks
Uber Technologies is seeking a $1 billion credit line from
banks, people familiar with the matter said.
H-P Says Breakup Will Cost Billions
Hewlett-Packard Co.'s upcoming breakup into two separate
companies will cost billions-but there will be $1 billion in cost
savings too, the company said Thursday.
Vanguard Natural Resources to Buy Eagle Rock Energy Partners
Vanguard Natural Resources LLC, a U.S. oil-and-gas producer, has
agreed to acquire smaller rival Eagle Rock Energy Partners L.P. for
$474 million plus debt, the two Houston-based companies said
Thursday.
Bank of New York to Pay $180 Million to Settle Forex Suit
Bank of New York said Thursday that it agreed to pay $180
million to settle a foreign exchange-related class-action lawsuit,
resolving almost all of its currently pending forex-related
actions.
Gap Says Main Unit Has a Ways to Go
Gap Inc. said improvements at its namesake unit might not be
visible until next spring as it works through inventory ordered
before new leadership was installed. The retailer said profit fell
8% in the latest quarter.
Intuit Results Top Guidance
Intuit, the maker of TurboTax, reported revenue and earnings
excluding items above its guidance for the April quarter,
reflecting a strong tax season and growth in its small-business
operations.
BlackBerry CEO's Compensation Falls
BlackBerry CEO John Chen's compensation dropped significantly in
fiscal 2015, largely because he didn't benefit from a grant of
restricted shares that he had received in the prior year.
Marvell Technology Revenue Falls 24%
Marvell Technology Group Ltd. posted a sharp decline in its
profit for the quarter ended May 2 and said Chief Financial Officer
Mike Rashkin will retire, effective Friday.
U.S. Fund Top Nintendo Shareholder
An American mutual-fund company has become Nintendo's largest
shareholder, placing a growing bet on signs of a revival in the
Japanese videogame company's fortunes.
Murray Energy to Lay Off Around 1,800
Coal miner Murray Energy is set to announce layoffs of around
1,800 workers, dealing another blow to the coal-mining industry in
Appalachia.
Cerberus Sells Part of Seibu Stake
U.S. private-equity firm Cerberus Capital Management sold more
than $800 million of shares in the Japanese hotel and railway
operator.
Huatai's $4.5 Billion IPO Is Second Largest This Year
Chinese brokerage firm Huatai Securities has raised US$4.5
billion in the world's second-largest IPO so far this year.