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1 May 2019
Occidental has made an offer to buy US oil giant Anadarko Petroleum for US$76 per share, a deal supported by Berkshire Hathaway.
Negotiations continue between the UK government and the Labour leadership over a deal that can secure the EU Withdrawal bill.
Superdry co-founder Julian Dunkerton returned to the board following a close AGM vote. The board and its brokers stepped down in response. Dunkerton now faces the challenge of reviving the brand.
RBS reported Q1 profit down to £1.1bn from £1.21bn but is on track to meet its £300m cost reduction target.
CMA blocked the proposed merger between ASDA and Sainsbury on concerns over market dominance and pricing. Sainsbury CEO Mike Coupe claimed the regulator had “taken £1bn out of customers pockets”.
Glencore announced the US CFTC was investigating its commodity trading practices. It further disclosed that over Q1 2019 its copper production fell 7%.
Indivior is facing 28 criminal charges in a West Virginia court alleging the company mis-sold Suboxone and directed buyers only to doctors it knew would proscribe its drug.
Arcadia the UK retail chain is considering a Company Voluntary Arrangement as a means of exiting onerous retail leases and making staff redundant.