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☆ Niger: Russian weapons and trainers arrive, weeks after US military agreement ends
▼ + stars: | 2024-04-12 | by ( Michael Rios | Mariya Knight | ) edition.cnn.com time to read: +1 min

CNN —Russia has delivered military equipment to Niger that will provide the African country with the “latest generation of anti-aircraft defense systems,” Nigerien state broadcaster RTN said Thursday. The equipment arrived in Niamey on Wednesday along with 100 Russian military instructors who will install the system and train Nigerien soldiers to use it, RTN added. AFP/Getty ImagesThe arrival of Russian instructors followed a recent phone conversation between Russian President Vladimir Putin and Nigerien General Abdourahamane Tiani on March 26 when the two leaders discussed “ensuring security and combating terrorism.”Since seizing power in a coup last year, Niger’s junta has been strengthening military ties with Russia while turning away from the US and France. Last month, the junta said it was ending an accord with the US that allowed military personnel and civilian staff from the US Department of Defense to operate in Niger. France, Niger’s former colonial ruler, withdrew its troops from the African nation at the end of 2023.

Persons: RTN, Novosti, Seyni, Vladimir Putin, Abdourahamane Tiani Organizations: CNN, RIA Novosti, NATO, Niger's National Council, Safeguard, Getty, Nigerien, US Department of Defense Locations: Russia, Niger, Nigerien, Niamey, Africa, ”, Agust, AFP, France, Niger . France

☆ How to Open a Savings Account
▼ + stars: | 2024-01-14 | by ( Kerri Anne Renzulli | ) www.wsj.com time to read: +9 min

If you’re ready to get the most out of your spare dollars, take these steps to open a new savings account. Compare savings account optionsIf you plan to open a savings account online, there are hundreds to choose from. Banks may also require you to deposit a certain amount to open or maintain a savings account with them. If you want to open a savings account that will be shared with another person, like a spouse or partner, you should opt for a joint account rather than a single account. Fund the accountIf your chosen bank or credit union requires a minimum deposit to open a new savings account, you’ll need to fund it with a check, cash, credit or debit card payment, or transfer from another checking or savings account.

Persons: Kerri Anne Renzulli, Banks, You’ll Organizations: Insurance, U.S, government’s Federal Deposit Insurance Corp, National Credit Union Administration, Federal Reserve, Consumer Financial, Consumer Financial Protection Bureau, Social, ABA Locations: government’s, U.S

☆ Apollo to take Wagamama owner Restaurant Group private for $623 mln
▼ + stars: | 2023-10-12 | by ( Eva Mathews | ) www.reuters.com time to read: +2 min

A sign of Wagamama restaurant is seen in London, Britain, October 5, 2020. Under the terms of the deal announced on Thursday, The Restaurant Group's (TRG) shareholders will get 65 pence in cash for each share held, a premium of about 34% to the stock's last closing price. Shares in the small cap constituent (.FTSC) jumped 37.1% to 66.5 pence, its highest percentage gain since April 2020. There has also been pressure from shareholders and activist investors Irenic Capital and Oasis Management in recent months to change management and improve profitability. Another analyst at Shore Capital said the offer price was "too low" given the company's efforts to improve margins and reduce leverage.

Persons: Hannah McKay, Ken Hanna, Benny's, Eva Mathews, Subhranshu Sahu, Elaine Hardcastle, Miral Organizations: REUTERS, Apollo, Irenic Capital, Oasis Management, Cafe, Shore Capital, Thomson Locations: London, Britain, TRG, Cafe Rouge, Bengaluru

☆ Apollo may get noodle LBO thrown back in its face
▼ + stars: | 2023-10-12 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

The private equity firm has offered to buy Wagamama owner Restaurant Group (RTN.L) for 701 million pounds including debt. Restaurant Group is an obvious takeover target. And Restaurant Group itself reckons it can crank up its EBITDA margin by as much as 3.5 percentage points by 2026. Apollo could comfortably double its money, assuming it used debt of around 300 million pounds to buy the business, or 3 times 2024 EBITDA. The deal is being undertaken by a special purpose vehicle indirectly owned by Apollo Funds, managed by affiliates of Apollo Global Management.

Persons: Andy Hornby, Frankie, Jefferies, John Wood, Neil Unmack, Oliver Taslic Organizations: Reuters, Restaurant, Irenic Capital, Oasis Management, Apollo Group, Restaurant Group, Apollo Funds, Apollo Global Management, Thomson Locations: Britain

☆ Wagamama owner Restaurant Group projects higher annual profit
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

A sign of Wagamama restaurant is seen in London, Britain, October 5, 2020. REUTERS/Hannah McKay/File Photo Acquire Licensing RightsSept 6 (Reuters) - Restaurant Group (RTN.L),the owner of Wagamama and Brunning & Price restaurants, said on Wednesday it expects annual profit to be higher after posting an increase in first-half earnings helped by more people dining at its joints. The group, which did not mention a range for its profit expectations for the year, said cost outlook for the medium term continued to improve. Analysts, on average, expected core profit to be about 77.5 million pounds for the year, according to company compiled consensus. Restaurant Group reported a 15% rise in adjusted core profit to 36.3 million pounds ($45.7 million) for the half-year ended July 2.

Persons: Hannah McKay, Radhika Anilkumar, Dhanya Ann Thoppil Organizations: REUTERS, Price, Restaurant Group, Thomson Locations: London, Britain, Bengaluru

Lockheed (LMT) Martin Corporation and Raytheon (RTN) Missiles & Defense, a subsidiary of Raytheon (RTN) Technologies Corp, will be added to China’s sanctions list, its Ministry of Commerce said in a Thursday statement. That move came after American forces downed what it called a Chinese surveillance balloon that entered its airspace late last month. Thursday’s Chinese commerce ministry statement made no mention of the downed balloon, nor the US sanctions on Chinese entities. Instead, it cited “national sovereignty” as the catalyst for the penalties while highlighting both companies’ sales of arms to Taiwan. China maintains that the balloon found over the United States was a civilian research aircraft accidentally blown off course.

☆ Did the economy end 2022 with a bang or a whimper?
▼ + stars: | 2023-01-22 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

But the United States economy still seems to be chugging along just fine after experiencing a hiccup in the first half of 2022. Despite worries about weaker consumer spending during the holidays, economists are forecasting solid growth for the fourth quarter. Yearning for earningsMore blue chip companies will report fourth quarter results (and perhaps give guidance about the first quarter of 2023 and beyond) this week. But according to FactSet senior earnings analyst John Butters, earnings for the tech sector are expected to fall nearly 10% in the fourth quarter compared to the fourth quarter of 2021. Verizon (VZ), Johnson & Johnson (JNJ), Travelers (TRV), 3M (MMM), Boeing (BA), Dow (DOW), Visa (V), Chevron (CVX) and American Express (AXP).

☆ Premarket stocks: How investors are preparing for a debt ceiling standoff
▼ + stars: | 2023-01-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Now, aggressive tightening by the Federal Reserve and large spending packages have helped bring that ceiling into play once again. But Washington is at an impasse over whether or not to raise the debt limit: The White House expects Congress to pass a debt ceiling increase without conditions while Republicans say that any increase should be accompanied by spending cuts. Esther George says goodbye to the FedMost Americans dream of retiring by 65, but at the Federal Reserve it’s required. The Federal Reserve Bank of Kansas City president Esther George turned 65 this weekend, triggering her mandated retirement. “Today, the U.S. is again experiencing high inflation and the Federal Reserve is aggressively tightening monetary policy.

☆ Premarket stocks: The Fed may have changed markets forever
▼ + stars: | 2022-10-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Federal Reserve officials have clearly stated that they have no plans to pivot away from their policy of aggressive rate hikes to fight persistent inflation. It’s become pointless to try to apply economic rationale to stock markets, Prins told me in a recent interview. Another mandate: The Federal Reserve is mandated to keep unemployment and prices in check, but the third unofficial mandate of the Fed is to boost markets, said Prins. They understand, says Prins, that eventually the Fed will return to its long-term policy of aiding markets. The Federal Reserve has stepped up its efforts to tamp down high prices via a series of blockbuster interest rate hikes.

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