Business
United Breweries, United Spiritis down after DRT order on Mallya`s
The banks had approached the tribunal against Kingfisher and the other companies after they defaulted on loans provided by them. In a major blow to the "King of Bad Times", the Debt Recovery Tribunal (DRT) today allowed the State Bank of India-led consortium of banks to attack Vijay Mallya's assets to recover the Rs 6203 crore loan defaulted by the tycoon.
Business
Date set for Supreme Court Brexit appeal ruling on Article 50
Conservative Brexit backing MP Andrew Bridgen said: "It was an incisive speech, with a mandate for change and she is going to deliver it - how could you be surprised that it's popular". In a statement issued shortly after Mrs May's speech, the Irish Government said it shares Mrs May's goal to achieve the "closest possible future economic relationship for Britain with the EU".
Business
Reynolds American (RAI) is Downgraded by Citigroup to Neutral
The company pays a US$0.46-cent-per-share quarterly dividend, giving it a 3.17% yield. Over the one year trading period, the stock has a high price of $58.15 and its low price is recorded at $43.38. (NYSE:RAI)'s highest estimates of price target are $62 and low forecast is $49 based on the opinion of 11 analysts. British American Tobacco p.l.c.
Business
Vegemite to return to Australian hands in $460 million Bega deal
Mondelez International has sold a clutch of its Australian and New Zealand grocery brands, including the iconic spread business Vegemite, to Bega cheese for AUD460m (US$346m). In notes for shareholders, Bega highlights that the Mondelez International grocery business holds 31% of the $550 million "spreads" market in Australia, with the business including Vegemite and KRAFT spreads like peanut butter, nut spreads and "ambient cheese spreads".
Business
American Airlines to start offering cheaper seat option
American Airlines is launching a new discounted fare class called Basic Economy. American is joining Delta and United airlines in announcing lower-tier fares to attract budget-conscious consumers that now opt to fly ultra-low-fare airlines such as Spirit and Frontier.
Business
Eli Lilly Buys Pharmaceutical Company CoLucid for $960 Million
Eli Lilly and Company (LLY) opened the session with a $77.06 price tag, later ranging from $75.87 to $77.06, the range at which the stock has traded at throughout the day. 12/16/2016 - Eli Lilly and Company had its "market perform" rating reiterated by analysts at BMO Capital Markets. Eli Lilly and Co. has a one year low of $67.88 and a one year high of $88.16.