Uncategorized – Prologue Journal

Berlin considers full Uniper exit, targets deal after summer

Reuters Reuters exclusively reported that the German government is weighing selling its entire 99% holding of German utility Uniper, which has a market capitalisation of nearly $19 billion. The government had flagged previously only a minority exit on the public markets. Reuters was also first to reveal that the government had reached out to potential…

Shein IPO: UK regulator decision slowed by NGO challenge

Reuters Britain’s financial regulator is taking longer than usual to approve fast-fashion retailer Shein’s IPO because it is checking its supply chain oversight and assessing legal risks after an advocacy group for China’s Uyghur population challenged the listing, according to two sources close to the matter. Britain’s Independent Anti-Slavery Commissioner, a monitoring body of the…

Worldline attracts early stage interest from private equity firms

Reuters French payments group Worldline has attracted early stage takeover interest from private equity firms, as it grapples with a falling share price, profit warnings and leadership change, five people with knowledge of the matter told Reuters. Why it matters Discussions about a potential deal come during a challenging period for Worldline. Its shares have…

CFM juggles engine supply in boost to Airbus

Reuters Jet engine maker CFM has agreed to divert some engines to Airbus to narrow a supply gap as the planemaker battles to hit end-of-year targets, three people familiar with the matter told Reuters. The post CFM juggles engine supply in boost to Airbus appeared first on Reuters News Agency. https://www.reutersagency.com/en/reutersbest/article/cfm-juggles-engine-supply-in-boost-to-airbus/

Amazon likely to face investigation under EU tech rules next year

Reuters Amazon shares fell 3% after a Reuters exclusive that the online retailer will likely face an EU investigation next year into whether it favours its own brand products on its online marketplace. The post Amazon likely to face investigation under EU tech rules next year appeared first on Reuters News Agency. https://www.reutersagency.com/en/reutersbest/article/amazon-likely-to-face-investigation-under-eu-tech-rules-next-year/

In high-wage Germany, VW’s labour costs outstrip the competition

Reuters As Volkswagen and unions gear up for the next round of talks over wages and plant closures in Germany, company and industry data reviewed by Reuters show that the automaker spends a higher proportion of sales on labour costs than major rivals. Why it matters The data, in an internal memo by Volkswagen’s works…

US scrutinizes Russia accounts UBS took over from Credit Suisse

Reuters The United States is pursuing an inquiry into Russian clients that UBS took on when it bought Credit Suisse, three people familiar with the matter told Reuters, heightening scrutiny of one of the world’s biggest wealth managers. Why it matters The news of the inquiry by the globe’s most powerful sanctions enforcer OFAC highlighted…

Commerzbank considers buying domestic rival in UniCredit defence plan

Reuters Commerzbank is weighing the acquisition of a mid-sized German bank as part of its strategy to fend off a possible takeover by Italy’s UniCredit, three people with knowledge of the matter told Reuters. The deliberations of an acquisition are at an early stage and possible targets could include Hamburg Commercial Bank (HCOB) or Oldenburgische…

Allianz weighs options for AllianzGI unit

Reuters Allianz, one of Europe’s biggest insurers, is weighing options for its Allianz Global Investors unit, including a possible merger or partial sale of the division, four people with knowledge of the matter told Reuters, in a move that would give the business greater scale. AllianzGI, which oversees 555 billion euros ($560 billion) of assets…

Carlyle quits bidding process for Thyssenkrupp marine arm

Reuters Private equity firm Carlyle has dropped out of a process to buy the marine division of German conglomerate Thyssenkrupp, marking the latest blow to the firm’s ongoing restructuring efforts, Reuters exclusively reported. Thyssenkrupp shares fell as much as 4.5% on the news. Why it matters Carlyle’s withdrawal as a suitor for Thyssenkrupp Marine Systems…