Sun, Nov 11, 2018 - Page 14 News List

World Business Quick Take



Waters vows Trump probe

Democrat Maxine Waters, in line to take over the House Financial Services Committee, told colleagues she would undertake a deep dive into President Donald Trump’s “money trail,” beginning with ties to Deutsche Bank AG. In a memo obtained by Bloomberg, Waters promised that if she becomes the next chair of the panel with oversight over Wall Street, she would look at Deutsche Bank and examine any so-called suspicious activity reports filed with the Financial Crimes Enforcement Network.


Kirin to shift from beer

Kirin Holdings Co, Japan’s second-largest beer brewer, plans to shift its core business strategy from beverages to “health and illness-preventing” solutions, the Sankei newspaper reported, citing chief executive officer Yoshinori Isozaki. The Tokyo-based company is planning a global expansion of products that use its proprietary lactic acid bacteria technology, which it believes can prevent illnesses, such as the common cold and influenza, the newspaper reported.


NASCAR bids for ISC stock

NASCAR has submitted a non-binding offer to acquire all Class A and Class B common stock of International Speedway Corp (ISC) not already owned by the controlling shareholders of auto racing series. The intent is to combine ISC and NASCAR as one privately-run group of companies led by the France family. Jim France, chairman and chief executive officer of NASCAR, said that the two companies need a unified approach for growth. NASCAR’s offer is to be reviewed by a committee of ISC board members.


Symantec stock rebounds

Symantec Corp’s shares have slumped this year amid an internal accounting investigation and waning consumer interest in antivirus software for PCs. Last week, the stock surged after a report that private equity firm Thoma Bravo LLC had approached the cybersecurity company about a potential takeover. “Sometimes we get some headlines, rumors and speculation and our policy is not to comment,” Symantec chief executive officer Greg Clark told Bloomberg Television on Thursday.


Atlantia to pay compensation

Italian infrastructure group Atlantia has set aside 350 million euros (US$396.81 million) to cover the estimated cost of rebuilding the Genoa bridge, which collapsed in August, and compensating the families of those killed. Atlantia’s net profit of 733 million euros was below an average estimate from analysts of 767 million euros. The company also decided not to pay an interim dividend for the first time since 2013.


New wage tiers announced

The government has passed an emergency ordinance creating two different levels for the minimum national wage. According to Friday’s measure, the minimum monthly salary is to be 2,080 leu (US$506.32) starting Jan.1, while those with higher education qualifications or 15 years of employment are guaranteed 2,350 leu. Previously, there was a flat minimum monthly salary of 1,900 leu regardless of an employee’s qualifications.

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