Edition:
India

Tanishaa Nadkar

BP to quit Alaska after 60 years with $5.6 billion sale to Hilcorp

29 Aug 2019

British oil major BP Plc on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.

Shares in Peppa Pig owner surge, analysts eye counter bidders

23 Aug 2019

Shares in Peppa Pig and PJ Masks-owner Entertainment One rose almost 39% to a record high on Friday, surpassing the $4 billion price tag agreed with U.S. toy maker Hasbro, in a sign that investors see a chance of a counter offer. The deal agreed by the Nerf and Power Rangers-maker was four times the 1 billion-pound ($1.22 billion) takeover offer which eOne rejected from UK commercial broadcaster ITV in 2016 as undervaluing the company. Some analysts, however, suggest the deal may not be cast in stone, questioning how the part of eOne's business that is not aimed at infants and preschoolers will fit in with Hasbro's offering of children's toys or dolls. Entertainment One also distributes movies aimed at an adult audience in a number of markets, which might make its film production and distribution arms of interest to Disney or another leading company in a media and streaming sector that is deep in flux, according to analysts. "The big question you should now be asking is whether someone else will make a bid for Entertainment now it is in play," said Russ Mould, investment director at AJ Bell. "It wouldn't be surprising to see Amazon, or Netflix want to throw their hat in the ring given how Entertainment One has such a big library of content which they need in order to keep customers loyal to their streaming platforms," he said. Under the deal, yet to be approved by shareholders, eOne investors will receive 560 pence per share, a premium of 26.4% to Thursday's close. Entertainment One's shares rose as high as 616 pence on Friday, indicating investors thought the value of the shares could yet prove higher. | Video

Ladbrokes parent GVC sees profit beat as UK betting shops outperform

15 Aug 2019

Ladbrokes-owner GVC Holdings sees earnings beating expectations this year as its UK betting shops fare better than feared in the face of stricter regulation on fixed-odds betting terminals.

UPDATE 2-Ladbrokes parent GVC sees profit beat as UK betting shops outperform

15 Aug 2019

* Shares up 5.5% (Adds details on U.S. business, CEO comments)

Coca-Cola HBC profit falls short on costs, tough European market

08 Aug 2019

Swiss-based soft drink bottler Coca-Cola HBC's first-half operating profit missed analyst expectations on Thursday, dragged down by higher costs, sluggish growth in its established markets and an unseasonable cool start to the European summer.

InterContinental plays down impact in China of growing trade tensions

06 Aug 2019

InterContinental Hotels Group played down any hit from the trade standoff between Beijing and Washington, saying few of its business customers in China were from outside the country and it was anyway well spread globally to absorb any impact.

UPDATE 2-InterContinental plays down impact in China of growing trade tensions

06 Aug 2019

* Interactive graphic https://tmsnrt.rs/2MIgCfE on IHG's RevPAR (Adds details on China, CFO comments, background)

UPDATE 2-Majestic Wine sells units to Softbank's Fortress in online push

02 Aug 2019

* Fortress to buy retail and commercial units for 100 mln pounds

UK mall operator Intu's shares slump as retail failures weigh

31 Jul 2019

Shares in British shopping centre operator Intu sank more than 21% on Wednesday after reporting a fall in first-half net rental income on Wednesday, the latest sign of weakness in a struggling British retail sector.

UPDATE 2-UK mall operator Intu's shares slump as retail failures weigh

31 Jul 2019

* Shares fall more than 20% (Adds share movement, analyst comment, rival performance)

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