ST PETERSBURG (Reuters Breakingviews) - St Petersburg this week became a haven for the victims of U.S. sanctions. Shunned by Western leaders and executives, Russian President Vladimir Putin recast his annual economic conference in the Russian city as a forum for the expanding club of countries and companies in Washington’s bad books.
LONDON (Reuters Breakingviews) - Unilever’s foods business is going slightly stale. Like its Swiss rival Nestlé, the Anglo-Dutch giant beat sales growth forecasts in the first quarter by growing its top line 3.1 percent on a like-for-like basis, according to Thursday’s report. New Chief Executive Alan Jope is sticking with his targets for the year and, like Nestlé, to a 20 percent operating margin goal by 2020. Beauty and homecare are doing fine, but Unilever’s foods and refreshment segment is looking less fresh.
LONDON (Reuters Breakingviews) - Bankers hunting Europe equity raisings have had a fallow start to the year. They should get used to it.
LONDON (Reuters Breakingviews) - Setbacks that Turkish President Tayyip Erdogan’s ruling AK Party suffered in Sunday’s local elections will prod him into making the wrong economic policy choices. He is all the more likely now to opt for short-term fixes rather than the more profound changes that investors want but which would take time to combat recession.
MILAN/LONDON (Reuters Breakingviews) - Ever since uppity investor Elliott Advisors turned up at Pernod Ricard late last year, Paris has been awash with talk that LVMH is lurking somewhere behind the gilded curtains, waiting to pounce on the $46 billion spirits group. The rumours reached a fever pitch in February when an equity research firm published a report detailing the potential financial benefits that might accrue from such a deal.
LONDON (Reuters Breakingviews) - Bob Dudley and Igor Sechin both have something the other lacks. The BP chief executive, whose $138 billion oil producer owns 20 percent of Sechin’s $67 billion Rosneft, may look covetously at the Russian group’s fat margins. Sechin, meanwhile, will look ruefully at Dudley’s much perkier valuation.
LONDON (Reuters Breakingviews) - Oleg Deripaska has become a political football. A pre-Christmas deal with the U.S. Treasury to lift sanctions on the Russian oligarch’s power group En+ has riled Democrats worried about the Kremlin’s influence in domestic politics. While the deal contains multiple grey areas, the overall upshot looks sufficiently black and white.
LONDON European equity raising slowed sharply in 2018, making it the biggest drag on falling global activity, Refinitiv data showed on Friday, as political uncertainty and growth concerns made it harder to persuade investors to buy stock.
LONDON/WARSAW A consortium of investors including the Poland's sovereign wealth fund PFR is close to buying the country's DCT Gdansk port terminal, owned by the infrastructure fund of Australia's Macquarie, three sources familiar with the matter said.
LONDON, Dec 7 Britain's AJ Bell bucked
a trend of lacklustre European initial public offerings (IPOs),
as the investment platform provider's shares jumped more than 9
percent in their market debut on the London Stock Exchange on