Accepting shareholders of the British defense-equipment provider will get GBP35.00 for each share held and also keep the interim dividend of 16.2 pence per share.
German State Fund to Offload Up to 5% Stake in Lufthansa
The German finance agency said Monday that the economic stabilization fund put in place to keep Deutsche Lufthansa AG afloat amid the pandemic is decreasing its shareholding in the company.
The fund, which held a 20% stake in Lufthansa, is set to reduce its participation by up to a quarter, or a 5% stake, beginning on Monday, the finance agency said. The reduction will take place over several weeks.
HSBC Plans $575 Million Acquisition of AXA Singapore
HSBC Holdings PLC plans to acquire AXA Singapore for $575 million, as the Asia-focused bank steps up efforts to expand its wealth-management business in the region.
The lender's insurance unit, HSBC Insurance (Asia-Pacific) Holdings Ltd., would take the entire stake in the Singapore company with existing resources, HSBC said Monday.
Sasol Swung to Profit; Isn't Declaring Dividend
Sasol Ltd. on Monday reported a swing to profit for fiscal 2021 as previously flagged, and said that it isn't declaring a dividend at this time due to the high level of macroeconomic uncertainty.
The South African chemicals-and-energy group attributed its performance to strong cost, working capital and capital expenditure performance.
Oil Giants Turn to Startups for Low-Carbon Energy Ideas
Some of the world's biggest oil companies are turning to startups to help plot their future.
Energy giants including BP PLC and Royal Dutch Shell PLC are bolstering their venture capital arms-increasing budgets, hiring more staff and doing more deals-seeking out new low-carbon technologies to help future-proof their profits.
Sleep Apnea Sufferers Scramble After Philips Recall of Critical Machine
Aaron Horton, a sleep apnea sufferer, stops breathing for brief periods hundreds of times every night. To keep his oxygen levels up, he uses a device made by Royal Philips NV that is now subject to a huge recall by the Dutch healthcare conglomerate. It warned in June that the machines could be sending potentially cancer-causing particles into users' airways.
When Mr. Horton, a 30-year-old paramedic from Glen Allen, Va., called his medical-device supplier for an alternative, he was told none was available. For now, he is continuing to use the Philips machine.
Afghanistan Takeover by Taliban Worries Governments in the Region, Europe That Chaos Will Spread
The collapse of the Afghan government and takeover of the country by the Taliban is stirring concern in foreign capitals that chaos and instability engulfing the country could spill over to its neighbors and possibly drive a tide of refugees as far as Europe.
There was also an undercurrent of criticism of the U.S. for the speed of its departure after nearly 20 years, colored by Washington's failure to establish a stable government that could stand without American military support.
Belarus Dissident at Center of Jet Grounding Cools Support for Lukashenko's Opponent
MOSCOW-Roman Protasevich has long been a thorn in the side of Belarusian leader Alexander Lukashenko, so much so that the government scrambled a jet fighter in May to divert a plane on which he was flying to detain him.
Now under house arrest, the dissident blogger says he is turning away from the opposition movement he helped propel through his grass-roots media network, criticizing Western sanctions introduced to pressure Mr. Lukashenko to step down after a disputed election and over 27 years in power.
Fuel Explosion in Lebanon Kills 28
A warehouse containing illegally stored fuel exploded in northern Lebanon early Sunday, killing 28 people and injuring dozens, as the Mediterranean nation grapples with a severe fuel crisis during an economic collapse.
Before the 60,000-liter fuel tank exploded, residents in the area had gathered to collect gasoline, according to Lebanese state media and the army. The tank was in a warehouse in the town of Tleil near the Syrian border.
GLOBAL NEWS
Fed Officials Weigh Ending Asset Purchases by Mid-2022
Federal Reserve officials are nearing agreement to begin scaling back their easy money policies in about three months if the economic recovery continues, with some pushing to end their asset-purchase program by the middle of next year.
In recent interviews and public statements, several have advocated for this timetable, which would enable them to raise interest rates sooner than currently anticipated if the economy makes rapid progress toward their goals.
China's Economic Recovery Is Losing Steam
BEIJING-China's economy slowed more than expected in July as extreme weather and the highly contagious Delta variant of the coronavirus swept across the country, adding more strains to a recovery that was already plateauing more than a year after the pandemic first exploded.
Monthly indicators of industrial, consumption and investment activity all showed growth retreating more quickly than expected-and decelerating from June's yearly growth rates-according to data released Monday by China's National Bureau of Statistics.
Japan's Economy Expanded Slightly in Second Quarter
TOKYO-Japan's economy grew slightly in the second quarter of 2021 thanks to increasing global demand and better-than-expected private spending, but a resurgence of Covid-19 infections may limit further recovery.
The world's third-largest economy has struggled this year to recover from last year's Covid-19 downturn, while other advanced nations, including the U.S., have recorded solid rebounds. The U.S. economy has already recovered its pre-pandemic size.
Companies Are Hoarding Record Cash Amid Delta Fears
Companies are sitting on a record amount of cash amid lingering uncertainty about disruptions from Covid-19, defying expectations earlier this year that a waning pandemic would unleash a spending spree.
Cash and short-term investments on corporate balance sheets globally are at an all-time high of $6.84 trillion, according to data from S&P Global, extrapolated from second-quarter earnings reports. That is 45% higher than the average in the five years preceding the pandemic and a 2.6% increase from the previous quarter.
Nancy Pelosi Looks at Advancing Infrastructure and Budget Framework Simultaneously
House Speaker Nancy Pelosi (D., Calif.) on Sunday asked a top committee to look at moving forward on a $1 trillion bipartisan infrastructure bill along with the $3.5 trillion budget framework in an effort to balance the demands of her party's ideological factions.
The request came after nine centrist House members said Thursday they "will not consider voting for a budget resolution until" the House approves the infrastructure bill.
China's Corporate Crackdown Adds to Junk-Bond Distress
The latest Chinese market to buckle under pressure from Beijing's wide-ranging corporate crackdown: junk bonds.
Companies from China make up the bulk of Asia's roughly $300 billion high-yield dollar bond market, thanks to a surge in borrowing by the country's heavily indebted property developers. But the investor optimism that drove that borrowing has collapsed.
Small Traders Pile Back Into Cryptocurrencies
Small investors are piling back into the cryptocurrency market, helping drive prices higher even as traders face uncertainty over proposed tax regulations in Washington.
Cryptocurrencies such as bitcoin, ether, dogecoin and other altcoins have rebounded in recent weeks from their midyear pullback, returning to levels not seen in months. Bitcoin on Friday traded at $47,544, its highest close since May 15, giving it a 64% gain for the year. Rival currency ether is up 344% for the year, while dogecoin-the joke cryptocurrency beloved by retail investors-traded at 28 cents, up more than 5,500% for the year.
New Covid-19 Hospitalizations for 30- to 39-Year-Olds at Record Rate
Hospitalizations of Covid-19 patients in their 30s have hit a new record, U.S. government data show, a sign of the toll that the highly contagious Delta variant is taking among the unvaccinated.
Thirty-somethings, who are in prime ages for work and parenting, had largely avoided hospital stays for Covid-19 during earlier phases of the pandemic because of their relative good health.
Afghanistan Government Collapses as Taliban Take Kabul
KABUL-Taliban fighters on Sunday took over the Afghan capital and President Ashraf Ghani fled abroad, leaving the government in collapse, as a U.S.-led military operation began to airlift Western diplomats, civilians and Afghans likely to be targeted by the country's new rulers.
Demoralized Afghan security forces offered no resistance as the insurgents, who seized most of the country in just over a week, appeared Sunday morning on Kabul's outskirts. While the Taliban initially said they wouldn't enter the capital while a transitional government is being formed, they reversed their stance by nightfall, saying that someone needed to maintain public order after Afghan police deserted their posts.
Biden Sending Additional Troops to Afghanistan for U.S. Personnel Evacuation
President Biden said Saturday he would send approximately 5,000 U.S. troops to safely evacuate U.S. and allied personnel, a force slightly larger than the 3,000 personnel already in transit back to Afghanistan and the 1,000 already there.
Mr. Biden made the decisions after consultations with top advisers while he was working at Camp David. Mr. Biden also defended his decision to withdraw from Afghanistan, as the Taliban continues to advance in the country.
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08-16-21 0601ET
