News 

US Bancorp’s 4Q profit rises 16%

“Jan 17 (Reuters) – U.S. Bancorp reported a 16 percent increase in quarterly profit on Wednesday as it booked a $910-million tax benefit due to new U.S. tax laws” reports foxbusiness.com. The biggest U.S. regional bank by assets said net income attributable to common shareholders rose to $1.61 billion or 97 cents per share in the fourth quarter ended Dec. 31, from $1.39 billion or 82 cents per share, a year earlier. Minneapolis-based U.S. Bancorp’s net interest income rose 6.4 percent to $3.14 billion, benefiting partly from higher interest rates. Source:…

Read More
News 

Insurer UnitedHealth’s quarterly profit more than doubles

“UnitedHealth Group, the largest U.S. health insurer, reported quarterly profit on Tuesday that more than doubled from a year earlier, driven by a one-time tax benefit” reports foxbusiness.com. UnitedHealth, which sells employer-based insurance as well as Medicare and Medicaid, said net earnings attributable to shareholders rose to $3.62 billion, or $3.65 per share, in the fourth quarter ended Dec. 31, from $1.68 billion, or $1.74 per share, a year earlier. The company had incurred a $1.2 billion provision for income tax a year earlier. Source: foxbusiness.com Share This:

Read More
News Stocks 

These Shoes Don’t Fit: Gucci Parent Returns Puma to Shareholders

“Terms of the share distribution are under review and will be submitted to Kering shareholders for a vote on April 26, the company said” writes Robert Williams Chris for bloomberg.com. The plan, under which Kering will distribute to its investors 70 percent of the shares of Puma, will leave Kering founder Francois Pinault’s holding company Artemis with about 29 percent of Puma.The Pinaults have gradually pushed Kering’s portfolio upmarket since the company took a controlling stake in Gucci in 2001. Source: bloomberg.com Share This:

Read More
News 

Merger of Worldpay with Vantiv gets High Court approval

“In early August last year, the boards of directors of Vantiv and Worldpay announced that they had reached agreement on the terms of a recommended merger of Worldpay with Vantiv and Vantiv UK Limited (a subsidiary of Vantiv)” reports financefeeds.com. The last day of dealings in Worldpay Shares will therefore be January 12, 2018, and once suspended, it is not expected that trading in Worldpay Shares will resume.Upon completion of the merger, Worldpay shareholders are set to own approximately 43%, and Vantiv shareholders are set to own approximately 57% of…

Read More
News 

2 big shareholders want Apple to investigate how bad iPhones are for children

“Two major Apple investors are pressuring the firm to investigate just how addictive iPhones are for children, and the possible mental health impact of using the device too much” writes Shona Ghosh for businessinsider.com. It’s an unusual case of activist investors pressuring a firm over social responsibility, rather than corporate changes.They called on Apple to: The two organisations argued that Apple shareholders would see long-term benefits in the firm taking responsibility for younger customers. Source: businessinsider.com Share This:

Read More
News 

It’s judgment day at Uber, and clues are pointing to a Softbank sale

“SoftBank is offering Uber investors just under $33 per share in an attempt to purchase up to one fifth of the company” writes Adriano Machado for cnbc.com. Uber CEO Dara Khosrowshahi has encouraged all large shareholders to sell at least some of their equity.Some Uber shareholders have even pressed the SoftBank-led group to shrink the number of investors in its consortium, according to one person familiar with the request.But on the eve of the deadline, Uber investors confess to little knowledge about whether enough employees or major shareholders have turned…

Read More
News 

Apple has returned $234 billion to shareholders — and there’s more to come

“Since initiating its capital return program in 2012, capital returned each year has skewed heavily toward repurchases” writes Daniel Sparks for businessinsider.com. Since Apple’s capital return program was announced, trailing-12-month net income has increased 25%, while trailing-12-month earnings per share has risen 57%.But this was just the beginning of what would expand into the world’s largest capital return program in history.Of the $234 billion returned to shareholders during this period, about $61 billion went to dividends, and $173 went to share purchases. Source: businessinsider.com Share This:

Read More
News 

Breaking: LCG Top Shareholders Preparing to Delist the Company from LSE

“The majority shareholder of London Capital Group, GLIO Holdings is proposing a delisting of the company from the London Stock Exchange” reports financemagnates.com. The company has been actively pursuing a restructuring since Charles Henri Sabet brought in a convertible loan investment from GLIO Holdings in 2014.In the coming weeks, a general meeting notice will be sent to the shareholders of the company. Source: financemagnates.com Share This:

Read More
News 

Credit Agricole to remove loyalty dividend scheme

“Credit Agricole SA (ACA.FR) said Wednesday that it will submit a proposal to its shareholders in regard to withdrawing its loyalty dividend scheme after the European Central Bank ordered it to remove its loyalty dividend bonus clause by Sept. 2018” writes Euan Conley for marketwatch.com. The withdrawal comes after the European Banking Authority ruled that payment of a loyalty dividend by Credit Agricole constituted a “preferential distribution” in breach of the capital-requirements regulation.Only 6% of ordinary shares are currently eligible for the loyalty dividend, representing an additional payout of EUR10…

Read More
News 

Seats are going to be limited at Apple’s annual shareholders meeting

“Even if you’re an Apple shareholder, you might not be able to attend the company’s annual shareholder meeting, often called the “AGM,” or annual general meeting” writes Kif Leswing for businessinsider.com. “Apple will host the 2018 Annual Meeting of shareholders at the Steve Jobs Theater in Cupertino on February 13, 2018.Two years ago, Apple CEO Tim Cook first acknowledged Apple’s car program at its shareholders meeting.Apple announced on Monday that it’s holding its annual shareholder meeting on February 12 in the company’s fancy “Steve Jobs Theater” on its new $5…

Read More