The Strategist
Companies & CEOs

RBS to its foreign clients: Hurry up and find another bank - 08/25/2016

Royal Bank of Scotland Group Plc (RBS) asked 3 thousand users of the bank’s global transaction banking services to hurry up with search for other credit institutions. RBS has sent an appeal to customers of branches outside the UK and Ireland, and warned that current accounts, cash management and settlement of international trade transactions will not be available after 31 December. The report...

McDonald's recalls Happy Meal fitness trackers - 08/24/2016

Fast food restaurants chain McDonald's withdrew Happy Meal fitness tracers in the US and Canada. This decision is explained by complaints about appearance of burns on children’s wrists, left by the device. According to the device’s users, the very idea McDonald's health-project was doomed to failure from the beginning. The popular American fast food chain announced new happy meal toys in...

FT: French government sheltered Renault from Dieselgate - 08/23/2016

Last October, France established a special government commission to study French cars in connection with a scandal around Volkswagen Group. Today, The Financial Times referred to its members saying that Renault SA could also use a special software for hiding real level of harmful emissions into the atmosphere. At the same time, the newspaper sources, the French government deliberately concealed...

US regulators approved ChemChina-Syngenta deal - 08/22/2016

The Committee on Foreign Investment in the United States (CFIUS) approved a proposition of China National Chemical Corporation (ChemChina) to buy Swiss chemical company Syngenta AG. In February, ChemChina agreed to buy Swiss Syngenta at $ 465 per common share. By that time, total sum reached more than $ 43 billion. The deal may become the largest foreign takeover made by a Chinese company....

Glencore's investors want Glasenberg to stay away from acquisitions - 08/18/2016

A year ago, Glencore was on the verge of crisis. Yet, the company managed to improve the situation through debt reduction, asset sale and thanks to increase in prices for raw material. Now, shareholders of the mining and trading company hope that its CEO Ivan Glasenberg would not start buying assets again. Glasenberg turned Glencore from commodity trader in one of the world's largest mining...

Uber to sue London authorities over English exams - 08/18/2016

The British division of Uber announced its intention to sue the Department of Transport in London. The latter wants all private taxi drivers from non-English speaking countries to have compulsorily taken an exam for English proficiency by October. Uber said that a court should verify legitimacy of such claims, which may damage the company's business. Since the beginning of this year, the London...

Linde, Praxair to create the world's largest industrial gas manufacturer - 08/16/2016

American Praxair is in talks to merge with German company Linde. The transaction, which would continue surge of consolidations in the sector, could result in creation of the world's largest supplier of industrial gases. Details of the talks are not known. At that, one of the sources warned that the negotiations may end up in vain. Even if the parties agree on merger terms, the transaction can be...

SEC to pay $100 mln to whistleblowers - 08/11/2016

State Street and BNY Mellon have already paid more than $ 1.2 billion on settlement agreements with the US government. In July, State Street agreed to pay $ 530 million to settle charges in purchase of currency for customers at inflated rates. Much of this sum will go to the SEC and the US Department of Justice, writes the WSJ. BNY Mellon has agreed to pay $ 714 million back in 2015. Then, the...

BP to sell its largest enterprise in China - 08/09/2016

The largest British oil company BP is looking for buyers for its 50% - stake in major Chinese petrochemical plant SECCO. The deal is estimated at $ 2-3 billion, Reuters reported citing informed sources. BP has hired investment bank to handle the sale. Reuters’ sources said BP wants get rid of the asset due to lack of control over the enterprise. A successful deal would be the first major signal...

Sony to place $ 1 billion in bonds - 08/08/2016

The Japanese corporation Sony Corp. is planning to raise about $ 982 million through the issuance of corporate bonds for institutional investors. This is reported by Nikkei Asian Review. According to the publication, the company will issue the securities in September. The conditions, the exact timing of coupon payments and options are not yet known. Sources say that it will be outright debt...
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