U.S. corporate breakups could be catalyst to change Dow index By Reuters

© Reuters. FILE PHOTO: A screen displays the trading information for chemical producer DowDuPont Inc. on the floor at the NYSE in New York By Lewis Krauskopf NEW YORK (Reuters) – Shake-ups come infrequently for the , but some degree of change may be in the works for the stock index as two of its 30 constituents prepare to transform from large conglomerates into smaller companies. The latest occasion to re-examine the Dow stems from chemical company DowDuPont Inc, which is breaking up into three publicly listed stocks. The first…

Tencent fourth-quarter profit drops 32 percent, steepest quarterly fall ever By Reuters

© Reuters. Logos of Tencent are displayed at a news conference in Hong Kong, China HONG KONG (Reuters) – Tencent Holdings said on Thursday net profit for the quarter ended December fell a sharper-than-expected 32 percent, the most on record for a quarter, as a regulatory review weighed on its gaming business. Net profit at Asia’s second-most valuable listed company for the September-December quarter was 14.2 billion yuan ($2.12 billion), against the 18.3 billion yuan average estimate of 16 analysts, according to Refinitiv data. Revenue in the quarter rose 28…

Standard Life Aberdeen wins 100 billion stg mandate dispute against Lloyds By Reuters

© Reuters. FILE PHOTO: The offices of Standard Life Aberdeen in Saint Andrew Square Edinburgh, Scotland LONDON (Reuters) – Standard Life (LON:) Aberdeen has won a legal battle to stop Lloyds Banking Group (LON:) from terminating a 100 billion pounds ($132.75 billion) investment management contract three years early, in a move that could cost the bank hundreds of millions of pounds in additional fees. After a lengthy arbitration process, a tribunal has ruled that the bank was not entitled to give notice in February 2018 to terminate the 2014 investment…

Merger of Deutsche Bank, Commerzbank could cost 20,000 jobs: union chief By Reuters

© Reuters. FILE PHOTO: FILE PHOTO: Banners of Deutsche Bank and Commerzbank are pictured in front of the German share price index, DAX in Frankfurt FRANKFURT (Reuters) – A merger of Deutsche Bank (DE:) and Commerzbank (DE:) could put 20,000 jobs at risk, the head of labor union Verdi said in a media interview on Monday, a day after the two banks confirmed they were discussing the possibility. “Some 20,000 or more positions could come under fire,” Frank Bsirske, chief of Verdi and a supervisory board member at Deutsche Bank,…

Renault-Nissan must streamline decision-making: Renault’s Senard By Reuters

© Reuters. Renault Chairman Jean-Dominique Senard attends a joint news conference in Yokohama PARIS (Reuters) – Renault (PA:) and Nissan must streamline decision-making in the car-making alliance and boosting the companies’ cross-shareholding is not currently in their plans, Renault’s chairman said in comments published on Sunday. Japan’s Nissan Motor and France’s Renault, together with junior ally Mitsubishi Motors, agreed last week that they would retool the alliance to put themselves on a more equal footing. “I’ve concluded that we need to considerably simplify our decision processes in the alliance,” Renault…