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...It also brought in TJ Rodgers, a venture capitalist and former head of Cypress Semiconductor who invested in the company and sits on its board as executive chair....
...The UK has moved to restrict Chinese investment in critical infrastructure such as the planned new Sizewell C nuclear power plant in Suffolk and forcing telecoms groups to strip out Huawei equipment from...
...Among the failings on the M&C Saatchi audit, the FRC said KPMG did not apply sufficient professional scepticism over a client payment that increased revenues by £1.2mn....
...The company’s main creditor Korea Development Bank said on Friday that Taeyoung E&C, a subsidiary of the Taeyoung Group, applied for a debt workout last month with creditors, raising fears of a repeat of...
...Canadian insurance group Manulife has announced a C$13bn ($9.6bn) reinsurance deal with KKR’s Global Atlantic, freeing up C$1.2bn of capital that the Toronto-based insurer intends to return to investors...
...M&C Saatchi: Shares in the British marketing agency slipped 2.3 per cent after its full-year results showed a 2 per cent fall in revenues and a 10 per cent drop in profit before tax....
...Samsung C&T trades at a discount of more than 50 per cent on its net asset value. The South Korean government is keen to replicate Japan’s success in raising stock valuations....
...Meanwhile, the entity in question — Change Healthcare — is restoring its systems, after reportedly paying a $22mn ransom to the BlackCat hacker group. But investors should pay close attention....
...Boney M provided the entertainment when René Benko, the sybaritic founder of the overleveraged Austrian prime property group Signa, rebutted rumours of its potential collapse by throwing a party....
...Other bonds with triple C ratings were issued by cyber security groups McAfee, Cloud Software Group and healthcare services company LifePoint Health....
...Rémont described Hinkley as a “major [financial] weight” for the state-owned group, although the company generated a profit last year in spite of the writedown, on the back of higher energy prices....
...Job moves Bernard Arnault is to nominate two more of his sons to the board of LVMH, further consolidating the hold of the controlling family’s next generation over the world’s biggest luxury group....
...Garavani and Giammetti stayed on through the changes in ownership, eventually retiring after British private equity group Permira bought the company in a deal that valued the company at €2.6bn in 2007 —...
...What the market really wants is a firm pronouncement on the future of investment banking. On this he has vacillated recently. Venkat recognises a need to rebalance the group’s businesses....
...and that “S&C knew, or was in a position to know, that FTX was co-mingling customer assets”....
...East, who was chief executive of chipmaker Arm Holdings between 2001 and 2013, said he was “convinced that there is a technology road map here”, adding C-Capture could be a “global leader in the field”....
...On an annual basis, Barclays’ group net profit fell 15 per cent to £4.3bn in 2023....
...The company is in a reputational crisis. This C-suite shake-up should be welcomed....
...Tim Rourke, UK head of P&C pricing, product, claims and underwriting at WTW, said the data suggested “the relentless rise in prices may finally be turning a corner”....
...Alison Downes of Stop Sizewell C, a campaign group opposed to the planned Suffolk nuclear plant, said EDF was an “unmitigated disaster”....
...Corporate updates: Adidas, Balfour Beatty, Eni, Eon, F&C Investment Trust, Ferrexpo, Geberit, The Gym Group, Inditex, Metro Bank and Volkswagen issue results....
...“Our group has high conviction that this view is shared by a significant portion of the shareholder base.”...
...Analysts said that after a decade of legal battles, the verdict would allow Lee to begin to give his full attention to a series of challenges facing the sprawling business group....
...Sunak’s decision last year to curtail the development of a high speed rail line from London to Manchester and dilute targets for the rollout of electric vehicles drew criticism from many business groups...
...The Chinese group has not commented on Pirelli. The Milan-based tyremaker in October struck a partnership with Saudi Arabia’s Public Investment Fund for the construction of a tyre plant in the kingdom....
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