Sonos, the American smart speaker company that went public in August 2018, said earnings are likely to decline as much as 19 per cent in fiscal 2020 because of new tariffs placed on Chinese-manufactured goods.
The private equity groups Cinven and Astorg, and the sovereign wealth fund Abu Dhabi Investment Authority, will buy the UK scientific measurement and testing company LGC Group in a deal that values it at about £3bn, people familiar with the matter said.
US stocks fell to session lows, putting the S&P 500 on track for its biggest one-day drop in six weeks, and Treasuries surged amid concerns a phase one trade deal between the US and China may not be completed this year.
Atlantia, the Rome-based infrastructure and toll road company, has pulled out from being part of a consortium to invest in Alitalia, Italy’s ailing national carrier which has been administered by the state for the last two years.
TJX Cos said on Tuesday it had acquired a 25 per cent stake in Russian low-cost clothing retailer Familia for $225m, the first major M&A purchase in Russia by a western company since the US and EU sanctioned Moscow in 2014.
Boris Johnson’s government plans to wave through the acquisition of Cobham, the UK aerospace and defence supplier, by US buyout group Advent International on condition that the new owner strengthens security around sensitive sites and informs the Ministry of Defence of any plans to sell the business.
The Trump administration has granted an extension for US companies to do business with blacklisted Chinese telecoms group Huawei as regulators continue to hammer out rules on companies that pose national security risks and negotiators strive for progress in trade talks.
It has been called South Africa’s worst job next to President Cyril Ramaphosa’s, but Eskom, the country’s blackout-prone and near-bankrupt state power monopoly, has finally secured a new chief executive.