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☆ A Chinese fighter jet popped flares in the path of an Australian military helicopter in an 'unsafe' Yellow Sea intercept, Canberra says
▼ + stars: | 2024-05-06 | by ( Ella Sherman | ) www.businessinsider.com time to read: +3 min

Read previewThe Australian government said Monday that a Chinese People's Liberation Army Air Force fighter jet released flares dangerously close to an Australian Defence Force helicopter over the weekend. The PLAAF jet intercepted the Royal Australian Navy MH-60R helicopter attached to HMAS Hobart in the Yellow Sea and "released flares across the flight path of the Australian Defence Force (ADF) helicopter," the Australian government said in a statement. Australian Defense Minister Richard Marles said a Chinese J-10 fighter aircraft popped flares about 300 meters in front of the helicopter and about 60 meters above it, per reporting from the AP. Related stories"This was an unsafe manoeuvre which posed a risk to the aircraft and personnel," the statement said. This isn't the first incident involving a Chinese jet engaging in troubling behavior in the vicinity of an Australian aircraft.

Persons: —, Operation, Richard Marles Organizations: Service, Liberation Army Air Force, Australian Defence Force, Royal Australian Navy, ADF, Business, Australian Defense, China, of Defense, Military, Security, U.S Locations: Hobart, North Korea, Chinese, Canberra, Beijing, Australian, China, People's Republic of China

☆ Chinese warplane fired flares, put Australian Navy helicopter in danger, Canberra says
▼ + stars: | 2024-05-06 | by ( Brad Lendon | ) edition.cnn.com time to read: +5 min

The Chinese jet “dropped flares about 300 meters (984 feet) in front of the Seahawk helicopter and about 60 meters (197 feet) above it,” Marles said in an interview with 9 News on Monday. The MH-60 Seahawk is a twin-engine helicopter and carries a crew of three, according to the Australian Navy. “They’re in international waters, international airspace, and they’re doing work to ensure that the sanctions that the world has imposed through the United Nations on North Korea, due to their intransient and reckless behavior, are enforced,” the prime minister told CNN affiliate Nine News. According to Australian public broadcaster ABC, Australian Navy Vice Adm. Mark Hammond raised the Toowoomba incident in a meeting with Chinese navy Adm. Hu Zhongming at an international naval symposium in Qingdao. Earlier in 2022, Australia said a Chinese warship used a laser to “illuminate” an Australian P-8A aircraft in waters north of Australia.

Persons: Anthony Albanese, Richard Marles, ” Marles, Albanese, “, ” Albanese, “ We’ve, ”, Maj, Rob Millen, Peter Dutton, Xi Jinping, ” Dutton, Mark Hammond, Hu Zhongming, Hammond Organizations: South Korea CNN —, Seahawk, Nations, Defense Ministry, Australian Defense, Australian Navy, United Nations, North, Australian Defense Ministry, CNN, Nine, Royal Canadian Navy, Australian Defence Force, Nine News, Australian, ABC, ” ABC, Pilots Locations: Seoul, South Korea, South Korea CNN — Australia, North Korea, Canberra, Beijing, China, Canadian, South, Ottawa, Australia, Philippines, Japan, United States, Chinese, Toowoomba, Qingdao, “, South China Sea, ”, Australian

☆ Beware these possible earnings blow-ups this reporting season, according to Wolfe Research
▼ + stars: | 2024-01-24 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

With fourth quarter earnings season in full swing, Wolfe Research released a list of potential stocks that are best left alone. The companies fall into the bottom 20% of their sector earnings quality and are likely to underperform in 2024, according to Wolfe. The company's average earnings quality score for the trailing four quarters came in at 5. Its average earnings quality score for the trailing four quarters amounted to 25. The payments platform earned an earnings quality score of 10 and an average score in the trailing four quarters of 30.

Persons: Wolfe, Chris Senyek, Tesla, Elon Musk, Chewy, Goldman Sachs, Trevor Young, Morgan Stanley, BTIG, Oppenheimer, Dominick Gabriele, — CNBC's Michael Bloom Organizations: Wolfe Research, Tesla, Argos Holdings, Barclays, PayPal, Paypal, Mizuho Locations: F2H24

☆ A guide to the most important characters in Sarah J. Maas' 'Crescent City' series
▼ + stars: | 2024-01-17 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +15 min

The "Crescent City" series has a massive cast of characters that can be hard to keep track of. On January 30, Sarah J. Maas will release "House of Flame and Shadow," the third book in her best-selling "Crescent City" series. "Crescent City" has a huge cast of characters, most of which are magical creatures referred to as Vanir. To help prepare you for the third book, Business Insider created a guide to some of the most important characters in the "Crescent City" universe. AdvertisementThe rest of this article contains major spoilers for the "Crescent City" and "A Court of Thorns and Roses" series.

Persons: Sarah J, Maas, —, Bryce Quinlan, Hunt Athalar, Ruhn Danaan, Bryce, Ember Quinlan, Randall Silago, Einar Danaan, Einar, Prince, Ruhn, Danika Fendyr, Orion, Hunt, Bryce's, Danika, Sofie Renast, Baxian Argos, Baxian, Asteri, Connor Holstrom, Bryce ., Archangel Micah, Connor, Luna's Horn, Micah, Declan Emmet, Tristan Flynn, Declan, Flynn, Fury, Juniper, Holstrom, Tharion, Sofie Renast's, Emile, Sabine Fendyr, Ithan, Sabine, Lidia Cervos, Hypaxia Enador, Enador, Celestina, Crescent, Lidia, Sandriel, Pollux Antonius, It's, Hel, Aidas, they're, Rigelus, Bryce doesn't, Feyre Archeron, Nesta, Amren, Cassian, Rhysand, Teller, Gwydion Organizations: Service, Business, 33rd Legion, Alpha, Bloomsbury, of, Sirius, Court, Wings Locations: Lunathion, Crescent, Bloomsbury, Midgard, Crescent City, Valbara, Hel, Ruhn, Nesta

Brokerage TD Cowen lowered its U.S. holiday spending estimate to 2% to 3% growth, from 4% to 5%, as it forecast flat Black Friday traffic. With many consumers squeezed by persistent inflation and high interest rates, U.S. holiday spending is expected to rise at the slowest pace in five years. A record 130.7 million people are expected to shop in stores and online in the U.S. on Black Friday this year, the National Retail Federation (NRF) estimates. In France, Italy, and Spain, most shoppers planned to buy clothing on Black Friday, with electronic goods coming second, according to a PwC survey. Thanksgiving Day discounts online peaked at about 28% for toys, while electronics had discounts as steep as 27%, Adobe said.

Persons: Shannon Stapleton, Cowen, Theresa Forsberg, “ It’s, ”, Jill Lizzo, she’s, “, I’m, Lizzo, PwC, hasn’t, Naomi Ojomo, Jeff Gennette, Barbie, John Roberts, Apple AirPods, Bergdorf Goodman, Nordstrom, Oscar de, Katherine Masters, Arriana McLymore, Helen Reid, Mimosa Spencer, Corina Pons, James Davey, Siddharth Cavale, Arriana, Deboarh Sophia, David Gaffen, Miral Fahmy, Nick Zieminski, Frances Kerry Organizations: Black, REUTERS, Shoppers, National Retail Federation, Insider Intelligence, Barclays, Macy's, Adobe Analytics, Adobe, Walmart, Argos, PlayStation, Apple, Thomson Locations: Westbury , New York, U.S, RALEIGH, N.C, New Milford , Connecticut, . U.S, Harlem, Manhattan, France, Italy, Spain, Zara, Canary Wharf, London, British, Paris, Madrid, New York, Raleigh , North Carolina, Bengaluru

MONTEVIDEO, Uruguay (AP) — A buyer from Argentina paid $42,120 for a manuscript of works, including seven unpublished stories, by legendary Argentine writer Julio Cortázar at an auction Thursday in the Uruguayan capital, Montevideo. 1952” was the basis for the writer’s iconic “Cronopios and Famas” book, published in 1962. In 1952, Cortázar sent a manuscript titled “Stories of Cronopios and Famas” from Paris to Luis María Baudizzone, the head of Argentine Argos publishing. It could easily have been lost.”Vega speculates that Cortázar “lost track of the manuscript” after he sent it to Baudizzone. The heir contacted Lucio Aquilanti, a Buenos Aires antiquarian bookseller, and a prominent Cortázar bibliographer, who confirmed the piece’s authenticity.

Persons: Julio Cortázar, Historias, y, ”, Cronopios, King, Hilario, Cortázar, Luis María Baudizzone, “, cronopios, ” Cortázar, Eduardo Jonquiéres, Jonquiéres, ” Roberto Vega, ” Vega, Cortázar “, Lucio Aquilanti Organizations: Paris, Argentine Argos, famas, Associated Press Locations: MONTEVIDEO, Uruguay, Argentina, Argentine, Uruguayan, Montevideo, Buenos Aires, Paris, Baudizzone, Americas, Europe

Oct 3 (Reuters) - BP Plc (BP.L) is exploring the sale of a 49% stake in its U.S. oil and gas pipeline network in the Gulf of Mexico, hoping to raise as much as $1 billion, according to people familiar with the matter. While it boosted its shareholder payout by 10% in second-quarter earnings in August, BP's net debt stood at $23.7 billion. BP has placed its stakes in U.S. Gulf of Mexico pipelines in a new company in which it will hold a 51% position and sell the rest, the sources said. The pipelines entity generates 12-month earnings before interest, tax, depreciation and amortization of around $200 million, the sources added. Among the pipelines in which BP holds stakes are the 161-mile Mars Oil Pipeline, the 89-mile Endymion Oil Pipeline and the 115-mile Cleopatra Gas Pipeline, according to its website.

Persons: Bernard Looney, Shariq Khan, David French, Ron Bousso, Cynthia Osterman Organizations: BP Plc, BP, Argos, Pipeline, Gas, Sixth Street Partners, Sixth, Bloomberg News, Thomson Locations: Gulf of Mexico, Gulf, Mexico, U.S . Gulf of Mexico, Bengaluru, New York, London

☆ Summit Materials to buy Cementos Argos' US unit in $3.2 bln deal
▼ + stars: | 2023-09-07 | by ( Ananta Agarwal | ) www.reuters.com time to read: +1 min

Cement silos of Colombian cement maker Argos are pictured at a plant in Bogota, Colombia May 14, 2019. REUTERS/Luisa Gonzalez Acquire Licensing RightsSept 7 (Reuters) - Summit Materials (SUM.N) said on Thursday it would buy the U.S. operations of Columbia's Cementos Argos (CCB.CN) for about $3.2 billion in cash and stock, in a deal that would make the combined entity the largest U.S.-based cement producer. Cementos Argos, the core unit of industrial conglomerate Grupo Argos (ARG.CN), will own a 31% stake in Summit and receive $1.2 billion in cash payments, subject to certain conditions. The deal, which is expected to close in the first half of 2024, could lead to annual cost savings of more than $100 million, Summit said. Shares of Summit Materials fell 7.92% in mid-day trading.

Persons: Luisa Gonzalez, Columbia's Cementos, Argos, Summit, Anne Noonan, Morgan Stanley, Ananta Agarwal, Savio D'Souza, Maju Samuel, Shweta Agarwal Organizations: REUTERS, Grupo Argos, Summit, BofA Securities, Thomson Locations: Argos, Bogota, Colombia, U.S, Mid, Atlantic, Texas, Summit

☆ Summit Materials to merge with Cementos Argos's US operations in $3.2 bln deal
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Cement silos of Colombian cement maker Argos are pictured at a plant in Bogota, Colombia May 14, 2019. REUTERS/Luisa Gonzalez Acquire Licensing RightsSept 7 (Reuters) - Summit Materials (SUM.N) said on Thursday it would merge with the U.S. operations of Cementos Argos in a cash-and-stock transaction valued at $3.2 billion, creating the fourth-largest cement platform in the United States. Cementos Argos will receive about $1.2 billion in cash, subject to closing adjustments, and 54.7 million shares of Summit based on its closing price on Wednesday. Argos USA has assets comprising four integrated cement plants, 140 ready-mix plants and eight ports, giving Summit a "significantly improved scale" in high-growth markets. Cementos Argos will own about 31% of the combined company on upon the closing of the transaction.

Persons: Luisa Gonzalez, Cementos, Ananta Agarwal, Savio D'Souza, Maju Samuel Organizations: REUTERS, U.S, Summit, Argos USA, Thomson Locations: Argos, Bogota, Colombia, United States

☆ These European companies cut jobs this year
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +4 min

TECH* ERICSSON (ERICb.ST): the telecom equipment maker will lay off 8,500 employees globally as part of its plan to cut costs, a memo seen by Reuters said. * NOKIA (NOKIA.HE): the Finnish telecom equipment maker said on May 3 it plans to cut up to 208 jobs in Finland. * PHILIPS (PHG.AS): the Dutch medical equipment maker on Jan. 30 said it would cut 6,000 jobs to counter falling sales and after a massive recall of its respiratory machines. * SAP (SAPG.DE): the German software company said on Jan. 26 it planned to shed 3,000 jobs, 2.5% of its global workforce, to cut costs and focus on its cloud business. * EVONIK (EVKn.DE): the German specialty chemicals producer said on April 3 it would cut 200 jobs as part of restructuring of its pet food unit.

☆ From caviar to cardboard cutouts, businesses hope for coronation boost
▼ + stars: | 2023-05-01 | by ( Marie-Louise Gumuchian | ) www.reuters.com time to read: +3 min

[1/5] A view of souvenirs designed for the Coronation of Britain's King Charles in Windsor, Britain, April 29, 2023. Mugs, plates, tea towels, magnets, cushions and teddy bears are staple memorabilia for royal occasions and an array of these to mark King Charles' coronation on May 6 are already filling shop windows. Others are selling coronation varieties of the games pass the parcel, bingo and charades. John Lewis Partnership, the owner of the eponymous department stores and supermarket chain Waitrose, said last week searches for coronation products on its website had risen more than 262% on the previous week. “Our royal family selection of cardboard cut-outs have always been a favourite of our customers, with King Charles proving himself to be a top seller," an Argos spokesperson said.

☆ As oil output peaks, US Gulf of Mexico makes room for carbon capture
▼ + stars: | 2023-05-01 | by ( Sabrina Valle | ) www.reuters.com time to read: +3 min

Some companies, including Exxon Mobil Corp (XOM.N), have been dumping assets in the Gulf, the nation's primary offshore source of oil, and are instead targeting capturing and storing carbon dioxide and other greenhouse gases underground. The region, soon could became contested ground for oil, carbon sequestration and renewable energy, say analysts. The gain reflects a flurry of new platforms from Shell (SHEL.L), BP (BP.L), Chevron (CVX.N) and others, budgeted before the pandemic hit global demand and made companies reduce investments. Reuters GraphicsAt this week's Offshore Technology Conference (OTC), which annually attracts more than 50,000 people, nearly a quarter of the presentations will involve offshore wind, renewables, carbon capture and energy transition, say organizers. Oil development will still dominate the basin, but should coexist with CCS and renewables such as offshore wind and solar.

☆ Britain's Sainsbury's raises profit sights after Christmas sales rise
▼ + stars: | 2023-01-11 | by ( James Davey | ) www.reuters.com time to read: +3 min

The UK's second largest supermarket chain after Tesco (TSCO.L) had previously forecast 2022-23 underlying pre-tax profit of between 630 million and 690 million pounds ($767-$840 million). It made 730 million pounds in 2021-22. Prior to the update analysts were on average forecasting 644 million pounds, according to a company compiled consensus. Grocery sales rose 5.6%, while general merchandise sales increased by a better-than-expected 4.6%. Sainsbury's owns the Argos general merchandise business.

☆ After Christmas relief UK retailers face 2023 reality check
▼ + stars: | 2023-01-06 | by ( James Davey | ) www.reuters.com time to read: +3 min

Ahead of Christmas, European retailers fretted that the key trading period could be the worst in at least a decade. Next, often acclaimed as a bellwether for the UK consumer economy, said it expected sales and profit to fall in 2023. The strain on Britons' household budgets is likely to begin to tell this month as Christmas credit card bills arrive. UK consumers will this year face persistent inflation in essential goods, particularly food and energy. M&S's apparel business will likely have benefited from Britain's severe cold snap in December which Next said dramatically boosted sales.

☆ Cost-of-living crisis casts shadow over Britain's Black Friday
▼ + stars: | 2022-11-25 | by ( James Davey | ) www.reuters.com time to read: +3 min

LONDON, Nov 25 (Reuters) - Britain's retailers are hoping Black Friday discount day will get shoppers spending, though it takes place against a backdrop of a worsening cost-of-living crisis and the distraction of the soccer World Cup. And they have begun their Christmas shopping early this year to help budget their finances. In France, 70% plan to shop on Black Friday and Cyber Monday, according to research by PwC France. More than a decade since being brought to the UK by Amazon, Black Friday's worth to retailers still divides opinion. Naysayers argue the discounts suck forward Christmas sales with reduced profits and undermine consumers' willingness to pay full price again before the festivities.

☆ Colombia's Nutresa shares down more than 28% after failed public offer
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, Nov 21 (Reuters) - Shares in Nutresa (NCH.CN), Colombia's largest food producer, closed 28.6% lower on Monday following a failed public offer for a large portion of shares in the company. Nutresa shares closed at 38,990 pesos in comparison to a close of 54,600 per share on Friday. An offer for Nutresa shares by Abu Dhabi's International Holding Company (IHC) was declared void after it failed to receive the minimum number of shares. Nutresa's fall helped send Colombia index MSCI COLCAP (.COLCAP) down 3.84% to 1,233.44 points. Shares in Grupo SURA (SIS.CN), Nutresa's biggest shareholder, were down 1.22% to 40,500 pesos per share.

☆ Colombia's Grupo Argos Q3 net profit drops 9.2% after jump in costs
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, Nov 14 (Reuters) - Colombian industrial conglomerate Grupo Argos' third-quarter net profit fell 9.2% from a year earlier, the company said Monday, following a jump in costs and expenses. The company, made up of power utility Celsia (CEL.CN), Cementos Argos (CCB.CN) and road and airport concession company Odinsa, posted a net profit of 192 billion pesos ($39.9 million)for July to September, down from 211.4 billion pesos last year. The firm said revenues grew 23.6% to 5.1 trillion pesos, but reported a 25% jump in costs and expenses. The company's earnings before interest, taxes, depreciation and amortization (EBITDA) grew 9.5% to 1.3 trillion pesos. ($1 = 4,806.07 Colombian pesos)Reporting by Noe Torres; Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

☆ IHC's $2.15 bln Nutresa bid boosts shares in Colombian conglomerate GEA's companies
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +3 min

IHC's bid is the latest in a long-running saga of moves to snap up stakes in GEA companies. Shares in investment holding company Grupo SURA (SIS.CN), the jewel in GEA's crown which owns the largest stake in Nutresa, rose almost 7% in the morning session. IHC is a partner of the Gilinski Group, stockbrokers told Reuters. If the latest bid is successful, Grupo Gilinski will become Nutresa's largest shareholder. Gilinski Group also secured a 38% stake in Grupo SURA following several bids and transactions last year.

☆ Cinemas will screen the Queen's funeral. Here's what else is open on Monday
▼ + stars: | 2022-09-18 | by ( Anna Cooban | Cnn Business | ) edition.cnn.com time to read: +5 min

London (CNN Business) Much of Britain will come to a standstill on Monday for the funeral of Queen Elizabeth II . A company spokesperson told CNN Business that its venues would open on Monday "for communities to gather to mourn and reflect together on the life of the Queen." Travelodge, which has 78 budget hotels in London, said its staff were working "around the clock" in preparation for the Queen's funeral. Most major supermarkets — which normally remain open on public holidays for a reduced number of hours — are planning to close for the funeral. Apple AAPL confirmed to CNN Business that it would close all of its 39 stores in the country on Monday.

☆ Cinemas are screening the Queen's funeral. Here's what else is open on Monday
▼ + stars: | 2022-09-18 | by ( Anna Cooban | Cnn Business | ) edition.cnn.com time to read: +6 min

London (CNN Business) Much of Britain came to a standstill on Monday for the funeral of Queen Elizabeth II . A company spokesperson told CNN Business that its venues would open on Monday "for communities to gather to mourn and reflect together on the life of the Queen." Travelodge, which has 78 budget hotels in London, said its staff were working "around the clock" in preparation for the Queen's funeral. Most major supermarkets — which normally remain open on public holidays for a reduced number of hours — are planning to close for the funeral. Apple AAPL confirmed to CNN Business that it would close all of its 39 stores in the country on Monday.

☆ Thousands of gas stations across the UK are the latest businesses to say they will close for the Queen's funeral
▼ + stars: | 2022-09-16 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Britain's major supermarkets are closing their gas stations on September 19 to mark the Queen's funeral. Supermarkets operate around a quarter of all gas stations in the UK, but sell the majority of fuel. The statement added that some gas stations will reopen in the evening to allow customers to "pick up essentials." Asda and Morrisons operate just over 300 gas stations each, while Tesco owned around 500 filling stations as of November 2021, according to online data site Statista. In total, supermarkets operate around one in four of the total gas stations in the UK, but sell the majority of fuel.

LONDON, July 18 (Reuters) - Sales of electric fans, hoses, air conditioning units and sprinklers are soaring as Britons swelter amid record temperatures, retailers said. 2 supermarket group which also owns the Argos general merchandise business, said sales of fans last week rose 1,876% versus the week before, while sales of air conditioning units were up 2,420% and sales of paddling pools were up 814%. On Monday, 10 out of the top 15 most-sold items in Amazon's (AMZN.O) UK home and kitchen section were fans. Department store group John Lewis said sales of fans and air conditioning units were up 709% year-on year. It said sales of smart technology that controls temperatures leapt 95%, while sales of hoses had increased by 56% and sales of water cans by 21%.

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