News Highlights: Top Equities Stories Of The Day
May 04 2016 - 3:16AM
Dow Jones News
Shell Profit Falls But Beats Forecasts
Royal Dutch Shell unveiled its first set of earnings since its
roughly $50 billion acquisition of BG Group earlier this year,
reporting a sharp drop in first-quarter profit compared with a year
earlier.
Credit Suisse to Sell Distressed-Debt Portfolio for $1.27 Billion
Credit Suisse agreed to sell a big chunk of its distressed-debt
assets to an affiliate of TPG, helping to speed the Swiss bank's
retreat from risky trading businesses.
Siemens Posts Solid Profit Growth
German engineering giant Siemens recorded a strong rise in
second-quarter profit, boosted by earnings growth at its power and
gas and energy-management divisions.
Most Asian Stock Markets Fall Amid Renewed Weakness in Oil
Most shares in Asia were back in the red Wednesday with
Australia slipping below breaking even for the year amid a renewed
fall in oil prices and a nearly 10% plunge in shares of
Anglo-Australian BHP Billiton Ltd.
BHP, Vale Face $44 Billion Lawsuit Over Brazil Dam Disaster
Brazilian federal prosecutors filed a civil lawsuit demanding
that mining companies responsible for a catastrophic dam failure
shell out up to $43.55 billion for cleanup and remediation, far
more than the government initially estimated.
Société Générale's Retail Bank Offsets Choppy Markets
French bank Société Générale reported higher first-quarter net
profit, as a debt valuation adjustment and a strong retail banking
performance helped offset lower trading revenue from volatile
markets.
BAE Systems Says 2016 Off to a Good Start
BAE Systems PLC Wednesday said business in 2016 has started
well, allowing Europe's largest arms maker to confirm its full-year
earnings targets.
Adidas To Sell Parts of its Golf Business
German sportswear maker Adidas said it is actively seeking a
buyer for parts of its golf unit, after years of slumping
sales.
Imperial Brands Net Profit Falls
Imperial Brands reported a 66% fall in first-half profit as the
cigarette maker was weighed down by restructuring and others costs
though revenue climbed higher.
AB InBev Profit Dips on Currency Factors
Belgian brewer Anheuser-Busch InBev said unfavorable currency
effects damaged net profit in the first quarter of the year.
Air France-KLM Loss Narrows
Franco-Dutch airline Air France-KLM said lower fuel costs lifted
profitability in the first quarter but it remained in the red.
Air France Enforces 2012 Cost-Cutting Plan for Pilots
Air France has decided to enforce a cost-cutting plan for its
pilots that was originally announced in 2012 but delayed by
opposition from unions. The measures will result in lower pay per
hour spent flying.
Private-Equity Firm Near Deal to Buy MultiPlan
Private-equity firm Hellman & Friedman LLC is nearing a deal
to buy health-care services provider MultiPlan Inc. for about $7.5
billion including debt in what would be one of the largest recent
leveraged buyouts.
Carlyle Hires Bank to Explore Sale of Groupe Marle Stake
Carlyle Group has hired investment bank Natixis to explore a
sale of its stake in French medical equipment company Group Marle,
according to people familiar with the process.
Comerica CFO Stepping Down
Comerica Inc., hard hit by souring energy loans, on Tuesday said
its chief financial officer, Karen Parkhill, has resigned.
Medtronic Hires New Finance Chief
Medtronic has hired Karen L. Parkhill as its new chief financial
officer, recruiting her from the same role at Comerica.
Petrobras Sells Stakes in Argentine and Chilean Units
Petroleo Brasileiro sold stakes in its Argentina and Chile
subsidiaries, some of the first positive signs that the company's
aggressive effort to shed assets is gaining traction.
Pemex on Track to Meet Spending-Cut Goals, CEO Says
Pemex CEO José Antonio González Anaya said Mexico's state oil
company was on track to meet its goal to cut $5.8 billion in
spending this year.
(END) Dow Jones Newswires
May 04, 2016 03:01 ET (07:01 GMT)
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