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Reuters

Creditors consider action against Air Seychelles in Etihad debt saga
Business & Finance

Creditors consider action against Air Seychelles in Etihad debt saga

  • The action under consideration is the latest twist in broader creditor efforts to recover $1.2 billion in funds owed by Abu Dhabi's Etihad Airways and related airlines including Air Seychelles.
  • Air Seychelles latest proposal, disclosed last month in a regulatory filing by the special purpose vehicle, EA Partners, sought a writedown of more than 70% of the outstanding debt.
Published 11 Jan, 2021 07:58pm
Staples offers $2.1bn cash to buy Office Depot parent
Technology

Staples offers $2.1bn cash to buy Office Depot parent

  • The US Federal Trade Commission blocked Staple's $6.3 billion offer in 2016, saying a merger between the two could reduce competition for nationwide contracts for office supplies.
  • Staples said it is prepared to take "all necessary measures" to divest ODP's B2B Business to a FTC approved and qualified buyer.
Published 11 Jan, 2021 07:55pm
Trial of COVID-19 blood plasma finds no benefit in severely ill patients
World

Trial of COVID-19 blood plasma finds no benefit in severely ill patients

  • "There was no evidence of harm associated with the administration of convalescent plasma" (and) the trial is continuing to recruit hospitalised COVID-19 patients.
  • It is biologically plausible that patients who are not producing antibodies at the time of convalescent plasma therapy and those patients with excess virus may benefit more than others.
Published 11 Jan, 2021 07:52pm
Jewellery maker Pandora shuts one in four stores worldwide
Business & Finance

Jewellery maker Pandora shuts one in four stores worldwide

  • Pandora, the world's biggest jewellery maker, said consumers had shifted spending away from travelling and services to jewellery in the fourth quarter.
  • The EBIT (earnings before interest and tax) margin is expected at around 20%, compared to the 17.5%-19% guidance range in late-December, it said.
Published 11 Jan, 2021 07:48pm
End-game for Libor is now clear, say UK financial regulators
Markets

End-game for Libor is now clear, say UK financial regulators

  • Firms should have everything they need to shift new financial contracts to SONIA, the BoE overnight interest rate.
  • Regulators want the use of Libor ended after banks were fined for trying to rig what was once dubbed the world's most important number.
Published 11 Jan, 2021 06:42pm
UK pledges $4bn to nature and biodiversity protection
World

UK pledges $4bn to nature and biodiversity protection

  • The money will come from an existing commitment of 11.6 billion pounds for international climate finance.
  • We will not achieve our goals on climate change, sustainable development or preventing pandemics if we fail to take care of the natural world that provides us with the food we eat.
Published 11 Jan, 2021 06:40pm
Sri Lankan shares end higher for tenth straight session
Markets

Sri Lankan shares end higher for tenth straight session

  • The benchmark stock index closed up 1.18% at 7,203.63, its highest closing level since September 2015.
  • Browns Investments Plc and conglomerate Expolanka Holdings Plc were the top boosts to the index, ending up 13.9% and 13.7%, respectively.
Published 11 Jan, 2021 06:35pm