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By Swissquote Analysts
Morning News

Thyssenkrupp Sells Italian Mill Acciai Speciali Terni to Arvedi

Thyssenkrupp AG said Thursday that it had sold its stainless-steel mill in Italy, Acciai Speciali Terni, to steel producer Arvedi. The parties agreed not to disclose the purchase price, with the closing of the transaction expected in the first half of 2022, Thyssenkrupp said. The German steel maker said it is also examining a possible minority shareholding in the AST group, details of which will be negotiated up to the closing. The transaction is subject to approval by Thyssenkrupp's supervisory board and merger control clearance, it said.

By
Nadine PEREIRA
Morning News

H&M 3Q Sales Rose on Pandemic Recovery, But Fell Short of Expectations

Sweden’s Hennes & Mauritz AB said Wednesday that third-quarter sales grew as stores reopened following the easing of restrictions put in place to combat the pandemic. The fast-fashion retailer said sales were 55.59 billion Swedish kronor ($6.46 billion) in the three months to Aug. 31. That figure is slightly below estimates of SEK57.23 billion, according to a FactSet poll.

By
Nadine PEREIRA
Morning News

Boeing Raises Outlook on Travel Rebound

Boeing Co. forecast it will take another two years for the hardest-hit regional and long-haul air travel slowed by the coronavirus pandemic to return to precrisis levels. However, the aerospace company on Tuesday said it had become more bullish about the pace of recovery currently driven by domestic travel in the U.S. and China, even after a recent slowdown caused by the Delta variant. Boeing said the aviation industry had only lost two years of growth because of the pandemic and hadn’t undermined airlines’ need for thousands of new, more fuel-efficient aircraft over the next decade.

By
Peter Rosenstreich
Morning News

TransUnion Is Near $3.1 Billion Purchase

TransUnion is nearing a deal to buy information-services company Neustar Inc. for $3.1 billion, according to people familiar with the matter, a move that could help the consumer-credit reporting giant diversify beyond its core business and put data to new uses. The purchase of closely held Neustar could be finalized by Monday, the people said, assuming the talks don't fall apart at the last minute. Reston, Va.-based Neustar uses analytics and modeling to help businesses identify potential customers and determine which ads to serve them, according to its website.

By
Peter Rosenstreich
Morning News

Apple Judge’s Warning Suggests App Store Fight Is Far From Over

Apple Inc. scored a partial victory Friday in a landmark antitrust case, but its fight with opponents of the App Store is far from over. While U.S. District Judge Yvonne Gonzalez Rogers left in place many of Apple’s restrictions for third-party software, she raised the specter of the tech company nearing a point where it could be deemed a monopoly in the mobile videogame market. The warning was tucked inside her 180-page ruling Friday, which was broadly greeted by Apple as a resounding victory. Still, the judge’s findings included criticism of its business as well as requirements that it stop prohibiting software developers from informing users of alternative payment methods outside their apps.

By
Nadine PEREIRA
Morning News

ECB Eases Stimulus Program Amid Robust Growth

The European Central Bank said it would slightly scale back its massive bond-buying program amid robust economic growth and inflation in the eurozone, turning the corner on its stimulus despite a resurgence in Covid-19 cases globally and signs of slowdowns in China and the U.S. that have prompted caution from the Federal Reserve. While the ECB’s move isn’t yet a plan to end its easy-money policies, it does signal the bank’s confidence in the eurozone economy’s ability to weather the rise of Covid-19 infections due to the Delta variant, with business and consumer confidence remaining buoyant.

By
Nadine PEREIRA
Morning News

Sanofi to Acquire U.S. Biopharmaceutical Company Kadmon

French pharmaceutical major Sanofi SA said Wednesday that it has entered into a definitive agreement to acquire U.S.-based biopharmaceutical company Kadmon Holdings Inc. Sanofi's planned $1.9 billion acquisition of Kadmon will hand it a new drug for treating chronic graft-versus-host disease, a condition in transplant patients where the donated cells attack the recipient's body. This will strengthen Sanofi's general medicines business, which mostly consists of older drugs.

By
Nadine PEREIRA
Morning News

Deutsche Telekom’s Deal With SoftBank Tightens Its Grip on T-Mobile US

Deutsche Telekom AG is speeding up its efforts to retake a majority stake in T-Mobile US Inc. through a complex transaction with SoftBank Group Corp. On Tuesday, Deutsche Telekom and SoftBank announced a share-swap deal in which the Japanese investment firm will become the German telecom giant’s second-largest private shareholder, while Deutsche will increase its stake in T-Mobile US. Deutsche Telekom currently holds a roughly 43% stake in T-Mobile US and already controls a majority of its voting shares.

By
Nadine PEREIRA
Morning News

Goldman Sachs’s Petershill Plans London Listing

Goldman Sachs Group Inc.’s Petershill Partners said it plans to list an investment vehicle on the London Stock Exchange, taking advantage of a sizzling market for private equity. The London-based business, which invests in private equity and hedge fund firms that collectively manage $187 billion in assets, is tapping into global investors’ desire for juicy returns amid perennially low interest rates. The deal, which would see Petershill’s vehicle as a stand-alone company operated by Goldman Sachs Asset Management, could value it at more than $5 billion, said people familiar with the matter.

By
Nadine PEREIRA
Morning News

Porsche, Puma and Airbus among the 10 new stocks in the expanded DAX index

Deutsche Boerse announced that European aircraft manufacturer Airbus, carmaker Porsche and sports equipment maker Puma would be among the 10 new stocks that will join the expanded DAX index from September 20. The stock exchange operator announced last year that it would increase the number of DAX components from 30 to 40 in the largest overhaul of the Frankfurt Stock Exchange's flagship index since its creation in 1988.

By
Nadine PEREIRA