New HSBC Holdings PLC (LSE:HSBA) boss George Elhedery today revealed his plan to split the business geographically in two, but it was not clear if this was the final step towards a true break-up of the business into its East and West units.
Analysts said the new structure seemed to provide the opportunity for much cost-cutting, but would also be likely to cost several million to achieve.
If electric vehicle giant and fledgling humanoid robotics company Tesla Inc (NASDAQ:TSLA) was hoping to resuscitate its flailing share price ahead of tomorrow’s third-quarter earnings call, its recent robotaxi unveiling seems to have missed the mark.
Jefferies analysts believe Tesla’s much-hyped ‘We, Robot’ event, during which a beaming Elon Musk earlier this month unveiled a smorgasbord of flashy new prototypes, “mostly fell flat”.
Royal Mail owner International Distributions Services PLC (LSE:IDS) has struck a deal to buy a stake in Greece's largest parcel delivery company for €74 million (£62 million), which analysts said was a high price, especially as it continues to await major decisions about its future from the government and sector regulator.
The acquisition of a 20% stake is being made in ACS, which has been a network partner of IDS's international parcel subsidiary, GLS, since 2004, with a call option to acquire the remaining 80% within two years.
Banks in the UK have the best outlook of all those based in Europe, according to analysts at Panmure Liberum ahead of the start of the third quarter reporting season tomorrow.
European banks have been the best-performing sector this year with total returns of more than 30%, notes the broker, helped by earnings upgrades during the year.
The appointment of Dr. Phil L'Huillier as CEO brings essential company development expertise to Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF), enhancing its strong scientific foundation and helping the company progress to its next stage of growth.
That's the verdict of Panmure Liberum, which points to L'Huillier's extensive experience in the biotech sector, previously led CatalYm GmbH through important clinical trials and secured over $200 million in funding.
French television and film group Canal+ is hoping to fetch a valuation of up to £8 billion share when it lists on the London Stock Exchange by the end of the year, which could help spark the start of a comeback for new listings in the City after a deathly quiet few years.
A result of the split-up of parent company Vivendi, an initial public offer of Canal+ has been mooted since the summer and is likely to be valued at between €6 billion and €8 billion, according to City sources cited by the Telegraph.