Zurich Insurance plans $5bn allocation to impact investments

Businessam StaffNovember 23, 2017

Zurich Insurance Group AG plans to more than double its allocation to impact investments, earmarking $5 billion for a broader range of assets after devoting $2 billion to green bonds in recent years. While it didn’t specify a period, Zurich plans to buy bonds that finance social projects and the sustainable use of resources, as […]

HP shares tumble as doubt mounts over ability to sustain growth

Businessam StaffNovember 22, 2017

HP Inc. shares tumbled the most in a year, signaling skepticism that the world’s biggest maker of personal computers can sustain the robust growth rate of the past year. The Palo Alto, the California-based company reported Tuesday that sales rose for the fifth consecutive quarter. But there is lingering investor doubt about the growth potential […]

Cannabis grower Aurora goes hostile in bid for CanniMed

Businessam StaffNovember 20, 2017

Aurora Cannabis Inc. plans to take its C$582 million ($455 million) takeover offer for CanniMed Therapeutics Inc. directly to shareholders after the management of the rival Canadian marijuana grower rejected merger talks. The process of offering investors Aurora stock worth C$24 per CanniMed share will begin this week, Vancouver-based Aurora said Monday in a statement. […]

Kenya Airways narrows pretax loss, plans U.S. flights next year

Businessam StaffNovember 17, 2017

Kenya Airways reduced first-half losses by 20 percent, helped by cost cuts, and will start flights to New York next year, its new chief executive said on Friday as the company presses ahead with its turnaround. The airline, part-owned by Air France KLM, completed a $2 billion debt restructuring this week as part of turnaround […]

Wal-Mart shares surge to all-time high after earnings crush expectations

Businessam StaffNovember 16, 2017

Wal-Mart shares surged to an all-time high, jumping more than 8 percent Thursday after the world’s largest retailer showed it can hold its own in a challenging retail environment. Same-store sales for its U.S. locations climbed for the 13th-consecutive quarter, as the big-box retailer cited a bright spot in its food business and a boost from […]

Uber loses UK appeal bid to overturn workers’ rights decision

Businessam StaffNovember 10, 2017

Uber Technologies Inc. lost an appeal over whether it should pay overtime and give vacation time to its drivers, a ruling that heaps yet more pressure on the ride-sharing company in one of its most mature markets. The original decision that gave U.K. drivers the right to more benefits was “neither inconsistent nor perverse,” Judge […]

Coca-Cola HBC Q3 sales rises on volume growth in new markets

Businessam StaffNovember 10, 2017

Drinks maker, Coca-Cola HBC, reported
 higher third-quarter sales Thursday, helped by volume growth in developing and emerging markets and a hot summer in southern Europe. The company, which sells Coca-Cola drinks in 28 countries mostly in Europe and Asia, reported sales grew five percent in the quarter volume rose 3.4 percent. On a currency neutral […]

Lamborghini unveils a self-healing, electric supercar

Businessam StaffNovember 9, 2017

The next generation of Lamborghinis could act as their own super-powered batteries and be able to repair themselves. Automobili Lamborghini Spa unveiled its Terzo Millennio (“third millennium”) concept car at the EmTech conference in Cambridge, Mass., on Monday. The car is the product of the first 12 months of a three-year partnership between the automaker and the […]

Fidelity Bank rewards loyal customers at Lagos fair

Businessam StaffNovember 8, 2017

Fidelity Bank Plc is rewarding loyal customers at the ongoing 2017 Lagos International Trade Fair holding at the Tafawa Balewa Square (TBS), Lagos. As part of the financial institution’s ongoing loyalty scheme for its retail customers, 10 lucky beneficiaries – 5 FPSS account holders and 5 SWEETA account holders – will be presented with cheques […]