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Australia court delays US$6.9b merger of gambling giants

2017-09-20 themalaymailonline
The mega-merger has been referred back to the tribunal by the courts, putting the deal in doubt.— AFP pSYDNEY, Sept 20 — An Australian court today dealt a blow to a planned A$8.6 billion (RM29 billion) merger of gambling giants Tabcorp and Tatts, ordering a review of the deal following competition concerns. (1-0)

Australia court upholds appeal against Tabcorp's $4.9 bln buyout of Tatts

2017-09-20 reuters
SYDNEY (Reuters) - An Australian court upheld on Wednesday an appeal against betting firm Tabcorp Holdings Ltd’s (TAH.AX) agreed A$6.15 billion ($4.9 billion) buyout of lotteries operator Tatts Group Ltd (TTS.AX).

Tabcorp and Tatts hold hands into halt pending judicial review

2017-09-20 proactiveinvestors.com.au
Tabcorp Holdings Ltd (ASX:TAH) and Tatts Group Ltd (ASX:TTS) have both been granted ASX trading halt in afternoon trade.

Consumer Cyclical Top Dog Gainer Libbey Surpasses National CineMedia In September

2017-09-14 seekingalpha
Libby Glass blew past National CineMedia as target price and net gain Consumer Cyclical dog favorite by analyst-estimates calculated 9/8/17.

Commonwealth Bank blames 'coding error' for alleged money-laundering breaches | Reuters

2017-08-07 reuters
SYDNEY (Reuters) - The Commonwealth Bank of Australia (CBA) on Monday said a software error was behind most of the roughly 53,700 times it allegedly broke anti-money laundering law, in a case that could see the country's biggest lender fined several billion dollars.

Consumer Cyclical Dog Yield & Gains Paced By National CineMedia In August

2017-08-07 seekingalpha
National CineMedia led the July/August Consumer Cyclical dogs by analyst estimated net gains, price upside, and dividend yield, as calculated 8/1/17.

UPDATE 1-Takeover costs and impairments drag Australia's Tabcorp to net loss

2017-08-04 reuters
(Reuters) - Australia's biggest horse-race betting company, Tabcorp Holdings Ltd (TAH.AX), on Friday posted a 3.8 percent fall in full-year underlying profit, in line with guidance and forecasts, but swung to a net loss after one-off costs.

Australia's Commonwealth Bank accused of massive money-laundering breaches | Reuters

2017-08-03 reuters
SYDNEY (Reuters) - The Australian government on Thursday accused the country's biggest mortgage lender, Commonwealth Bank of Australia, of widespread breaches of money-laundering and counter-terrorism financing rules.

Australia’s Commonwealth Bank accused of massive money-laundering breaches

2017-08-03 themalaymailonline
The logo of the Commonwealth Bank of Australia (CBA) is displayed outside a branch in Sydney, Australia, March 21, 2016. — Reuters picSYDNEY, Aug 3 — The Australian government this morning accused the country’s biggest mortgage lender, Commonwealth Bank of Australia, of widespread breaches of money-laundering and counter-terrorism financing rules.

Australian investment Ideas - Australia's Economy Still Strong

2017-07-24 valuewalk
Australian Real Estate is running out of steam, but UBS does not see Australia’s economy crashing…yet. updated on 7/24/2017 at 8:25AM EST

Consumer Cyclical Dog Gains Topped By Barnes & Noble In June

2017-06-23 seekingalpha
Barnes & Noble led the June Consumer Cyclical dogs by analyst estimated net gains, and price upside, while Greek Organization led by dividend yield, as calculated 6/16/17.

Deals of the day-Mergers and acquisitions

2017-06-20 reuters
June 20 The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

UPDATE 2-Third time lucky for Tabcorp as regulator clears $4.7 bln Tatts buyout

2017-06-20 reuters
SYDNEY An Australian regulator cleared Tabcorp Holdings Ltd's (TAH.AX) proposed takeover of lottery owner Tatts Group Ltd (TTS.AX) for A$6.15 billion ($4.67 billion), paving the way for a match-up that has fallen through twice before since 2006.

UPDATE 2-Competition ruling could resolve bidding war for Australia's Tatts: investors

2017-04-28 reuters
SYDNEY The bidding war for Australia's Tatts Group Ltd could be resolved by a competition ruling in June, investors said on Friday, after the lotteries operator rejected a A$6.15 billion ($4.59 billion) takeover offer from a group backed by KKR & Co in favor of a bid from Tabcorp Holdings Ltd.

Trump 'absolutely not' trying to talk down dollar: Mnuchin | Reuters

2017-04-19 reuters
LONDON U.S. President Donald Trump is "absolutely not" trying to talk down the strength of the U.S. dollar, Treasury Secretary Steven Mnuchin was quoted as saying in Wednesday's edition of the Financial Times.

KKR-led group ups ante in bidding war for Australia's Tatts lotto

2017-04-19 channelnewsasia
SYDNEY: A group backed by private equity firm KKR & Co on Wednesday said it had made a revised AUS$6.15 billion (US$4.65 billion) offer for Australia's biggest lottery operator Tatts Group Ltd , upping the ante in a bidding war against Tabcorp Holdings Ltd .

Daimler says in talks with Didi, others for potential cooperation

2017-04-19 reuters
SHANGHAI Daimler AG (DAIGn.DE) is in talks with local Chinese ride-hailing firms including Didi Chuxing to discuss potential cooperation deals, board member Hubertus Troska said on Wednesday.

British companies to increase ad budgets this year despite Brexit uncertainty: survey | Reuters

2017-04-19 reuters
British companies plan to increase their spending on advertising this year as they expect the UK economy to remain resilient despite the Brexit vote, a survey showed on Wednesday, reversing a previous forecast for a decline in ad budgets.

Sterling on a high; shares sidelined as caution rules

2017-04-19 reuters
SYDNEY Sterling stole the show in Asia on Wednesday amid speculation Britain's surprise decision to call a snap election could ultimately deliver a more market-friendly outcome in its divorce from the European Union.

Breakfast briefing: Wednesday, April 19

2017-04-19 thestar.com.my
MarketWrap: The S&P 500 fell for the fourth time in five sessions on Tuesday, weighed down by a drop in Goldman Sachs and Johnson & Johnson following their quarterly results, while geopolitical tensions added to investor caution. The DJIA fell 113.64 points, or 0.55%, to 20,523.28, the S&P 500 lost 6.83 points, or 0.29%, to 2,342.18 and the Nasdaq dropped 7.32 points, or 0.12%, to 5,849.47.. - Reuters Energy Oil prices fell on Tuesday, then slid more in post-settlement trade after an industry group reported that US crude stockpiles fell less than expected in the latest week while gasoline stockpiles grew unseasonably.

KKR-backed consortium makes $4.7 billion cash offer for Australia's Tatts

2017-04-18 reuters
SYDNEY A consortium backed by U.S. private equity giant KKR & Co (KKR.N) offered A$6.15 billion ($4.65 billion) cash for Australian lottery operator Tatts Group Ltd (TTS.AX), threatening an agreed merger with Tabcorp Holdings Ltd (TAH.AX), two sources familiar with the situation said on Wednesday.

UPDATE 1-KKR-backed consortium makes $4.7 bln cash offer for Australia's Tatts

2017-04-18 reuters
SYDNEY, April 19 A consortium backed by U.S. private equity firm KKR & Co offered A$6.15 billion ($4.65 billion) cash for Australian lottery operator Tatts Group Ltd, threatening an agreed merger with Tabcorp Holdings Ltd, two sources familiar with the situation said on Wednesday.

Trump 'Buy American' edict may have little impact on U.S. steel

2017-04-18 reuters
DETROIT/NEW YORK U.S. President Donald Trump's "Buy American, Hire American" executive order on Tuesday left questions about how the government would enforce the order and whether it would make a real difference in output and employment, according to steel executives and analysts.

KKR-backed consortium makes US$4.7 billion cash offer for Australia's Tatts

2017-04-18 channelnewsasia
SYDNEY: A consortium backed by U.S. private equity giant KKR & Co offered AUS$6.15 billion (US$4.65 billion) cash for Australian lottery operator Tatts Group Ltd , threatening an agreed merger with Tabcorp Holdings Ltd , two sources familiar with the situation said on Wednesday.

BHP Billiton Works With Goldman Sachs on Elliott Defense - Bloomberg

2017-04-11 bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.