Trian launches public fight to add Peltz to P&G’s board
Businessam Staff
July 17, 2017
Trian Fund Management LP said on Monday it was seeking a seat for its billionaire chief executive on Procter & Gamble Co’s board, as it looks to push the company to take more drastic steps to revive sales and profits. Trian’s announcement marks the official launch of the largest proxy fight ever, with the activist fund […]
Emirates, flydubai to partner on codeshare, schedule alignment, network optimisation
Businessam StaffJuly 17, 2017
Emirates Air and flydubai have signed a partnership agreement on expensive codeshare, schedule alignment and network optimization, which would see the two Dubai-based airlines join forces to offer customers unmatched travel options, according to a statement seen by businessamlive. The partnership will be rolled out over the coming months, with the first enhanced code-sharing arrangements […]
Shell, ExxonMobil, Chevron, Total, BP face S&P downgrade if oil prices below $50
Businessam StaffJuly 12, 2017
Big oil firms would face increased credit rating downgrade pressures if crude prices stayed below $50 a barrel on average until the end of 2018 and they did not compensate by cutting costs, S&P Global said on Wednesday. S&P currently has downgrade warnings – or negative outlooks in rating agency parlance – on ExxonMobil, Chevron […]
United Capital keeps earnings steady in H1 2017 at N3.9bn
Businessam StaffJuly 12, 2017
United Capital Plc, has kept earnings steady in the first half of 2017 posting a six percent increase over the figure recorded last year. The investment banking group recorded gross earnings of N3.87 billion and profit after tax of N2 billion, representing a three percent decrease year on year. Despite the slowdown in economic activities […]
Medview in strategic Nigeria route expansion
Businessam StaffJuly 12, 2017
In what appears to be a strategic business route expansion in Nigeria, Medview Airlines, a major player in Nigeria’s aviation industry, Tuesday expanded its domestic passenger services into Ilorin, from where it would fly to other cities in the country. Lukman Animasahun, and engineer and the airline’s chief operating officer, said at the Ilorin International […]
Eterna investors share N391m in dividends for 2016
Businessam StaffJuly 12, 2017
Investors who kept fairh in the shares of Eterna plc are to share in dividends totalling N391 million, with each share getting 30 kobo for the company’s business year ended 31 December 2016. At the company’s 24th Annual General Meeting (AGM) in Lagos, the board of the company got shareholders’ approval for its proposal to […]
IBEDC earmarks N4.5bn for enumeration of consumers, equipment
Businessam StaffJuly 11, 2017
Ibadan Electricity Distribution Company (IBEDC)has earmarked over N4.5 billion for the enumeration of consumers and equipment in its areas of coverage, the management said, accordoing to NAN. Dele Ayodele, the Deputy Managing Director, IBEDC, made the remarks in an interview with the the news agancy in Lagos, saying that the cost would cover its area of […]
Nestle still under pressure from activist investor Loeb
Businessam StaffJuly 10, 2017
Activist investor Daniel Loeb is keeping up pressure on Nestle by sharing views with the company as part of a regular dialogue, according to Reuters, referring to a source familiar with the matter. Nestle, Europe’s most valuable public company, announced a 20 billion Swiss franc ($21 billion) share buyback programme last month coupled with a […]
Toshiba under pressure to consider ‘Plan B’ as chip sale falters: sources leftright 2/2leftright
Businessam StaffJuly 7, 2017
As the $18 billion sale of Toshiba Corp’s memory chip unit to a government-approved consortium falters, some bankers and potential investors are pressing the board to seriously consider alternatives, people with direct knowledge of the sale process said – including picking a new buyer. Those people say Toshiba’s leadership is sticking to Plan A: selling […]
Moody assigns Nigeria’s Dangote Cement Ba3 corporate family rating
Businessam StaffJuly 7, 2017
Moody’s Investors Service has assigned a first-time Ba3 corporate family rating (CFR), Ba3-PD probability of default rating and Aaa.ng national scale rating (NSR) to Dangote Cement Plc. (DCP), a Nigeria-based cement producer. The outlook on the ratings is stable. DCP’s Ba3 CFR and Ba3-PD probability of default ratings reflect strong financial profile, which factors high […]