Category: Business

Lagardere may get help from allies in fight with Amber Capital

Lagardere (LAGA.PA) gained almost 13% on Thursday after Les Echos reported the French multimedia conglomerate could get help from French tycoon Vincent Bollore and Marc Ladreit de Lacharrière, who heads finance group Fimalac, in its fight with Amber Capital. For more than four years, the activist hedge fund has been criticising the management and stock […]

Starboard ends proxy fight at eBay, withdraws director nominations

Activist investor Starboard on Thursday ended its proxy fight at eBay (EBAY.O) by withdrawing its four director nominees four days after the ecommerce company named a new chief executive. EBay said it plans to name another independent director in the coming months and will consider the people Starboard had suggested as directors. The decision ends […]

Sales drop at Vuitton owner LVMH as virus forces store closures

Louis Vuitton owner LVMH (LVMH.PA) on Thursday posted a 17% drop in comparable sales in the first quarter due to the coronavirus pandemic, as government-imposed lockdowns forced it to close stores and production sites in key markets. LVMH, like rivals such as Gucci-owner Kering (PRTP.PA), has had to temporarily shut shops in much of the […]

Individual ashtrays, hourly disinfection: French carmakers eye production restart

Peugeot-owner PSA and Renault are planning new safety measures in a push by France’s major industrial groups for a breakthrough with workers to reopen some factories before the government lifts its lockdown from mid-May, unions said. Japanese carmaker Toyota Motor Corp. (7203.T) on Wednesday became the first auto company with a plant in France to […]

British insurer Aviva halts executive bonuses, pay rises

British insurer Aviva (AV.L) said on Thursday its executive directors and leadership team would not be considered for any bonus for 2020 until dividends are restarted. Basic pay rises for executive directors and the leadership team due on April 1 have also been halted until dividends restart, Aviva said in a statement. Aviva said last […]

Airbus evaluates requests for delays to jet deliveries

European planemaker Airbus (AIR.PA) is examining multiple customer requests to defer deliveries after travel demand collapsed because of the coronavirus epidemic, it said on Thursday. In a video message for the company’s annual shareholder meeting, which was staged remotely because of lockdowns across Europe, Chief Executive Guillaume Faury said the planemaker was wrestling with “the […]

Takeway can integrate Just Eat, British watchdog says

Britain’s Competition and Markets Authority (CMA) has decided Dutch online food ordering company Takeaway.com can proceed with its integration of Just Eat, the company said on Thursday, although an investigation into the combination continues. Takeaway bought Just Eat for $7.8 billion in January after a bidding war. The CMA is investigating whether Takeaway might not […]