LISBON/LONDON (Reuters) – Portuguese lender Novo Banco is looking to sell its loss-making retail network in Spain as it faces pressure to prop up its balance sheet and prevent further losses, two sources told Reuters. Novo Banco has reached out
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LVMH's Arnault to buy stake in Lagardere holding company
PARIS (Reuters) – Bernard Arnault, the billionaire behind luxury fashion group LVMH (LVMH.PA), has agreed to buy a stake in the holding company of fellow French billionaire Arnaud Lagardere, according to the holding companies of the two men. Lagardere’s eponymous
Doctor who put off retirement to treat coronavirus patients dies of COVID-19
A New York doctor made the ultimate sacrifice after he delayed his retirement to treat low-income coronavirus patients and later died of the virus. Dr. James Mahoney, a physician at University Hospital of Brooklyn and Kings County Hospital Center, died
Thyssenkrupp pools businesses to be sold or shut down
FRANKFURT (Reuters) – Thyssenkrupp (TKAG.DE) on Monday said it would pool units that it plans to sell or shut down while singling out three businesses that will definitely stay within the group: materials services, industrial components and car parts. The
U.S. restaurants using blow-up dolls, mannequins to enforce physical distancing
Restaurants are having to get creative as they reopen amid physical distancing rules, thanks to the coronavirus pandemic. At their Tuesday night reopening, South Carolina restaurant Open Hearth sat their live customers next to fancy dressed blow-up dolls. “The G-rated
Macquarie has not expressed interest in BT's Openreach: source
LONDON (Reuters) – Australia’s Macquarie Group (MQG.AX) has not expressed interest in BT’s (BT.L) Openreach unit and is not in talks with BT’s management, a source close to the investment firm told Reuters. The Financial Times said on Thursday BT
CBA sells 55% stake in unit Colonial First State to KKR for $1.1 billion
(Reuters) – Commonwealth Bank of Australia (CBA.AX) said on Wednesday it will sell a 55% stake in unit Colonial First State to private equity firm KKR (KKR.N) for A$1.7 billion ($1.10 billion), in line with plans to focus on its
Commentary: Why a Republican won’t beat Trump in 2020
Two days before being sworn in to the U.S. Senate, Mitt Romney wrote an opinion piece in the Washington Post outlining his concerns about President Donald Trump “not rising to the mantle of the office.” Romney, the Republican presidential nominee
5-year-old boy pulled over while driving to California to ‘buy’ a Lamborghini
One Utah five-year-old had a need for speed — and a Lamborghini. On Monday, a Utah Highway Patrol trooper pulled over a swerving van, believing it was being driven by an impaired driver, at around noon. But instead of an
Alexion bets on Portola's bleeding antidote with $1.41 billion deal
(Reuters) – Alexion Pharmaceuticals Inc (ALXN.O) on Tuesday agreed to buy Portola Pharmaceuticals Inc (PTLA.O) in a $1.41 billion deal, as it looks to exploit smaller rival’s blood-thinning antidote which has reached only a tiny portion of its target population.