(Reuters) -Former Pfizer CEO Ian Read and ex-CFO Frank D’Amelio said they will not be involved with activist investor Starboard Value, which reportedly wants the U.S. drug giant to make changes to turn its performance around.”We have decided not to be involved in the efforts of Starboard Value regarding Pfizer,” the executives said in a statement on Wednesday, which was issued by Guggenheim Partners, an advisor to Pfizer.”We are fully supportive of Pfizer Chairman & CEO Albert Bourla, senior management and the board, and we are confident that over time they will deliver shareholder value.”Sources had earlier told Reuters that…
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Image source: Getty Images Whenever I see a FTSE stock with a dividend yield above 10%, I always have a look at it in detail. In my eyes, you can find sustainable income paying shares with yields up to 10%. But when it goes above that, things become a little more murky. So when I saw a 29% yield, naturally I wanted to see what the story is. Why the yield’s so high The stock I’m referring to is the Regional REIT (LSE:RGL). The real estate investment trust specialises in offering exposure to the regional commercial property. The portfolio currently…
Investing.com – European stock markets traded in a lackluster fashion Thursday, with investors wary ahead of the release of key US inflation data. At 03:05 ET (07:05 GMT), the in Germany traded 0.1% lower, the in France fell 0.2%, while the in the U.K. climbed 0.2%. European markets look to US inflation, China European traders have traded in a cautious manner Thursday ahead of the release of U.S. data later in the day, as this report could influence Fed rate cut expectations. Last week’s hot number saw traders scale back expectations of more outsized interest rate cuts from the Federal…
Image source: Getty Images US shares have outperformed their UK counterparts over the last few years. But the threat of an economic slowdown has investors and analysts concerned about the S&P 500. High valuations combined with signs of a possible recession make investing in US stocks a challenge at the moment. So could the FTSE 100 have some better opportunities? Recession worries US stocks are trading at unusually high valuations at the moment. And as JP Morgan analysts have been pointing out, future returns haven’t been strong when this has happened before. Source: J.P. Morgan Guide to the Markets Q4…
ABU DHABI (Reuters) – Qatar is planning initiatives to boost private sector growth in the Gulf state, including writing off some loans to Qatari companies made during the COVID-19 pandemic, state media reported late on Wednesday. The Cabinet has called for the preparation and implementation of a package of initiatives to increase private sector participation in the national economy, the Qatar News Agency reported, based on directives from Emir Sheikh Tamim bin Hamad Al Thani. The initiatives are intended to offer support to private companies struggling to recover from the pandemic and strengthen the private sector as part of government…
By Lewis Krauskopf and Saqib Iqbal AhmedNEW YORK (Reuters) – A tight U.S. presidential race is leading some investors to brace for an unclear or contested election result that could trip up this year’s booming stock market rally.With less than a month before the election, polls and prediction markets show Democrat Kamala Harris and Republican Donald Trump in a virtual dead heat. Harris led Trump by a marginal 46% to 43% in a Reuters/Ipsos poll released on Tuesday, a tighter race than the same poll showed a couple weeks earlier.Given Trump’s efforts to overturn his loss to President Joe Biden…
Hennessey has once again pushed boundaries, this time pitting its powerful Escalade V against a Lamborghini Huracán Evo. The Hennessey H1000 version of the Cadillac Escalade V is already an over-the-top luxury SUV, but now, it boasts an incredible 1,005 bhp and 883 lb-ft of torque. Curious to see how it would perform against a Lamborghini, Hennessey put the two vehicles to the test, with some surprising results. Hennessey Escalade V vs. Huracán Evo The Hennessey Escalade V is unlike any other SUV. Despite its size and weight, it can go from 0 to 60 mph in just 3.6 seconds.…
(Reuters) – Initial public offerings (IPOs) are slowly coming back in Europe after a summer lull. Polish convenience store group Zabka’s IPO is set to raise 6.45 billion zlotys ($1.64 billion) this month, while Spanish energy and water utility Cox Energy plans to raise 300 million euros ($328 million). German academic publisher Springer Nature debuted in Frankfurt on Friday after an IPO that was set to raise up to 602 million euros. Meanwhile, Spanish frozen bakery producer Europastry this week pulled its IPO that was aiming to raise about 210 million euros, citing market instability. Proceeds from IPOs across Europe…
PARIS–(BUSINESS WIRE)–Regulatory News: Ikonisys SA (Euronext Growth Paris: ALIKO), a company specializing in the early and accurate detection of cancer through fully automated solutions for medical laboratories, is pleased to announce that its fully-owned company Hospitex International has successfully won the public tender for the in-service supply of diagnostic systems to the U.O.C. Pathological Anatomy Unit in Enna, Italy. This tender follows the launch of an open procedure for the in-service supply of diagnostic systems intended for the Public Health Laboratory Unit and the U.O.C. Umberto 1st Pathological Anatomy Unit in Enna. The contract includes the full in-service supply of…
Ian Read, chairman and chief executive officer of Pfizer, speaks as President Donald Trump, left, listens during an announcement on a new pharmaceutical glass packaging initiative in the Roosevelt Room of the White House in Washington, D.C., July 20, 2017. Andrew Harrer | Bloomberg | Getty ImagesFormer Pfizer CEO Ian Read and ex-CFO Frank D’Amelio said Wednesday evening that they would step away from Starboard Value’s campaign at the struggling pharmaceutical giant, just days after news of the activist’s stake broke.Read and D’Amelio said they were “fully supportive” of Pfizer CEO Albert Bourla in a joint statement made via an investment…