06302016Thu
Last update: Thu, 30 Jun 2016 06pm

Company News: World

Archive: 

Accenture Plc posted a better-than-expected 8.6 percent rise in quarterly net revenue, driven by demand for consulting services, particularly from customers in North America. However, the mid-range of the company's forecast for fourth-quarter revenue fell slightly below analysts' average estimate. Net revenue from Accenture's consulting business, which accounts for a little more than half of total revenue, rose 12.4 percent in the third quarter.
Britain's biggest retailer, supermarket group Tesco, announced Thursday a rise in first quarter sales alongside news it was further trimming operations. Tesco, which earlier this month said it was exiting Turkey to focus internationally on Central Europe and Southeast Asia, said it was now offloading also British coffee chain Harris + Hoole to Caffe Nero.
A little-known Chinese real estate company on Tuesday denied a report its parent had signed a $9 billion MOU with electric carmaker Tesla for a production plant in China, after its share price surged. Trading in shares of Shanghai Jinqiao Export Processing Zone Development was suspended in the afternoon after they rose by the daily limit of 10 percent to 21.60 yuan in the morning.
Qatar's largest local supplier of bottled water, Rayyan Water, plans a stock market flotation by the end of 2016, helping to diversify a bourse dominated by banks, real estate and insurance firms. It would be only the third new listing in Qatar since 2010, following the initial public offering of Mesaieed Petrochemicals in 2014 and the listing of Qatar First Bank last month.
South Korea's Lotte Group said Monday it was scrapping an initial public offering worth almost four billion dollars amid a widening investigation into alleged embezzlement by its founding family. Hotel Lotte - the group's key unit - had planned to list shares worth at least 4.6 trillion won ($3.9 billion) on Seoul's main stock market in July. But the firm decided to "cancel all the remaining process" and postpone the IPO due to "recent internal and external circumstances", according to its regulatory filing.
Qatari construction firm Aljaber Group is planning a stock market flotation in the Gulf Arab state, sources aware of the matter said, in a listing which could be worth around $800 million. Initial public offerings have been extremely rare in Qatar due to market volatility and the slow process of securing regulatory approval, with only one - Mesaieed Petrochemicals in 2014 - taking place in the last six years.
South Korean prosecutors raided the offices of Lotte Group, the country's fifth-largest conglomerate, and several affiliates on Friday, dealing a further blow to its hotel unit's planned IPO, billed as the world's biggest this year. Hotel Lotte, one of the affiliates raided, cut the size of the deal to a maximum $4.5 billion on Tuesday and pushed back the listing to July after prosecutors launched a bribery investigation into a director.