Hilton Shares Turn Positive for 2020 on Hopes of Pent-Up Demand
Hilton Worldwide Holdings Inc., like most of the hotel industry, has had a terrible year. But by one metric, the company is faring well: its share price. The stock climbed Thursday, eking out a 0.3% gain for the year as investors bet that Covid-19 vaccines will unleash a surge of pent-up demand for lodging. The […]
Tumultuous 2020 Rewards Investors Who Stared Down Turmoil
The bell has just tolled on one of the wildest years in Wall Street history, full of precipitous plunges, improbable rebounds and human tragedy. The S&P 500 ended on an up beat, with a 1.4% gain in the holiday-shortened week. That pushed its 2020 gain to 16%, an ending that would have seemed far-fetched in […]
Sunpower Group divests non-core business for 2.3b yuan in management buyout
SUNPOWER Group is divesting its manufacturing and services (M&S) business for 2.3 billion yuan (S$463.3 million), after which 1.3 billion yuan of the net proceeds will be used for a proposed special dividend amounting to 1.1627 yuan per share on a fully-diluted basis. The group announced on Thursday that it has agreed to fully sell […]
Why 2021 will be a bumper year for M&A
The end of the pandemic is likely to see fashion and luxury M&A opportunities. The big focus: brands that tap younger consumers. After months of quiet and stalled deals, 2020 closed in a flurry of M&A (mergers and acquisitions) activity, setting a pace that is likely to continue in 2021. That’s the view of analysts […]
Ford, Mahindra call off auto joint venture
(Reuters) -Ford Motor Co said on Thursday it was calling off its automotive joint venture with India’s Mahindra and Mahindra Ltd due to the challenges caused by the COVID-19 pandemic. The companies said in separate statements that the decision was driven by changes in the global economy over the last 15 months, causing both to […]
Verizon, Hearst Television reach deal to avoid blackout in some U.S. markets
(Reuters) – Verizon Communications Inc said on Friday it has reached a distribution agreement with Hearst Television to avoid a New Year’s Day blackout of the broadcasting group’s channels on Verizon’s fiber-optic networks in U.S. markets including Boston and Baltimore. “Verizon Fios has been able to reach an agreement with Hearst Television,” a company representative […]
France will be vigilant on post Brexit deal implementation, minister says
CALAIS, France (Reuters) – France will be vigilant over the implementation of a post Brexit trade deal reached last week between Britain and the European Union, French European Affairs minister Clement Beaune said on Friday. “This deal begins its life today. It will last years, possibly decades. Our demand is that each party respect its […]
Here’s where to invest your money in 2021, financial advisors say
Key Points: Drugmakers Pfizer and BioNTech announced Monday that their Covid-19 vaccine is more than 90% effective, based on data from their drug trials. While there’s no certainty when it or another vaccine would be available, sectors like hospitality and travel are likely to benefit when consumers resume their pre-pandemic spending patterns. Don’t dismiss stocks […]
Priory rehab clinics sold to private equity firm for £1.1bn
Waterland deal will create one of world’s largest private mental health services providers The Priory rehabilitation clinic, favoured by celebrities trying to achieve sobriety or tranquillity, has been sold to a private equity firm for £1.08bn to create one of the world’s largest private mental health services providers. The famous Roehampton clinic in south London, […]
Tech, cross-border activities set to drive Asia M&A next year
Coronavirus-spurred growth in the technology sector will help drive M&A activity in the Asia Pacific next year, bankers and lawyers predict, with the potential easing of Sino-U.S. tensions likely to revive Chinese outbound investment. Deals involving Asia Pacific firms totalled $1.2 trillion in 2020, up 12% from 2019. Seven of the year’s 10 largest transactions […]
