Day: January 6, 2017

Poor December Retail Sales Could Spell Trouble for U.K. Retailer Earnings

The festive season was not jubilant for many retailers in the U.K. with industry figures on Friday showing sales were down in December. This could spell bad news for retailers who face an uncertain 2017 as the country prepares to start negotiations to leave the European Union and a possible spending squeeze due to inflation caused by the falling value in the pound since the June vote.

European Stocks Open Lower as Investors Prep for U.S. Jobs Report

European stocks opened lower Friday as investors adopted a defensive stance ahead of key U.S. employment data amid a pullback in the dollar and increasing questions over the recent ‘Trump Rally’. The region-wide Stoxx 600 index, the broadest measure of European shares, slipped 0.2% by 08:30 GMT as benchmark indices drifted modestly lower across the board.

Morgan Stanley Said to Cut Equities Traders’ Bonus Pool Up to 4%

Morgan Stanley, Wall Street’s biggest stock-trading firm by revenue, is cutting its global bonus pool for the equities division by as much as 4 percent after the industry’s results flagged last year, according to people with knowledge of the plans. The firm, which is set to pay annual bonuses to employees next month, has been fine-tuning calculations for pay packages since November, according to the people, who asked not to be identified describing the deliberations.

Amgen Wins Ban on Sanofi’s Praluent Cholesterol Drug Sales

Amgen Inc. won a court ruling blocking rivals Sanofi and Regeneron Pharmaceuticals Inc. from selling their cholesterol-lowering drug Praluent in the U.S. because it infringes Amgen’s patents covering a rival treatment. U.S. District Judge Sue Robinson in Delaware ordered Sanofi and Regeneron Thursday to halt Praluent sales for 12 years because the drug infringes patents on Amgen’s Repatha medication.

Ex-Hedge Fund Manager Generates 51% Return in Skiers? Paradise

The region of Trondelag is the cradle of Norway’s Winter Olympic dominance, with 14 gold medals over the past two events alone. Now, Jomar Kilnes, a former hedge fund manager who has come home after more than a decade in the Bahamas and the U.S., is showing that delivering outsized investment returns is the area’s real forte.

Your Evening Briefing

At all times in life, one might as well metaphorically heed the instructions of flight attendants and keep seatbelts fastened. This will prove useful, as it did today, when the dollar goes into a tailspin ; or when bracing for higher prices on goods, gas and airfare; or when your company is the subject of a  Donald Trump  tweet.

Developed by STX chief creative office Jason Goldberg, ‘Number One…

Developed by STX chief creative office Jason Goldberg, ‘Number One Suprise’ was viewed nearly 300 million times on Hunan TV and digital platforms after its premiere on Nov. 21. STX Entertainment has scored a ratings hit with Number One Surprise , its first TV show developed for the huge Chinese market. A celebrity-driven variety show, Number One Surprise was developed in partnership with China’s XG Entertainment.

Oxy Reckitt Benckiser ex-chief get 7 years in prison

A South Korean court has sentenced the former head of Oxy Reckitt Benckiser to seven years in prison after the company’s disinfectant for humidifiers killed scores of people. Seoul Central District Court ruled Friday that Shin Hyun-woo, Oxy chief from 1991-2005, was guilty of accidental homicide and falsely advertising the deadly product as being safe even for children.

Li Ka-Shing Sees Hong Kong Property Prices Rising Amid Curbs

Hong Kong’s richest man Li Ka-shing expects property prices in the city will rise “a little bit” this year, even as the government takes steps to cool the world’s costliest real estate market. The government in November increased the stamp duty to 15 percent for all residential purchases, excluding first-time buyers who are permanent residents.

Fine Wine, Fast Profits: The Man Who Led BSI Bank Into the Abyss

He was the leader of one of the largest mass defections in private banking history, with more than 100 staff following him from RBS Coutts Bank Ltd. in the thick of the global credit crisis to create a financial phenomenon in Singapore at a little-known Swiss bank. Hanspeter Brunner, together with former deputy Raj Sriram and chief operating officer Gary Tucker, were the kernel of a plan by BSI SA, founded in 1873 in Lugano, to build up a $10 billion wealth-management business serving the burgeoning ranks of Asia’s millionaires.

Fairfax Said in Talks With OMERS to Back $4.9 Billion Takeover

Prem Watsa’s Fairfax Financial Holdings Ltd. is in talks with the Ontario Municipal Employees Retirement System to see if the pension fund will help finance his $4.9 billion takeover of Allied World Assurance Co., according to a person familiar with the discussions. OMERS could take a minority stake in Zug, Switzerland-based Allied, and there have also been talks with other potential backers, said the person, who asked not to be identified discussing a confidential matter.