Canary Wharf's Fate in the Balance: Who's In and Who's Out
The East London financial district is struggling to retain some major occupiers but its not all doom and gloom.
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The East London financial district is struggling to retain some major occupiers but its not all doom and gloom.
Centerbridge Partners’ Billy Rahm, who oversees global real estate investing, is leaving the firm, according to people with knowledge of the matter.
Uniti Group Inc. is in advanced talks to reunite with telecommunications provider Windstream in a merger that could be valued at up to $15 billion, including debt, according to people familiar with the matter. Uniti rose as much as 13%.
Figure Technology Solutions Inc. tapped Michael Tannenbaum as its new chief executive officer, ahead of the financial-services firm’s potential initial public offering.
Sales of new homes in the US bounced back broadly in March as an abundance of inventory helped drive prices lower.
Jul 19, 2018
Bloomberg News
,(Bloomberg) -- Woolworths Holdings Ltd., South Africa’s largest clothing and food retailer, said charges related to its struggling Australian business will result in a full-year loss, its first in at least 16 years.
The company will probably report a per-share loss of between 3.40 rand to 3.97 rand for the 52 weeks ended June 24, the Cape Town-based company said in a statement Thursday. That will be the first annual loss since Bloomberg records on Woolworths began in 2002. Headline earnings per share, which exclude one-time items, fell as much as 20 percent.
The shares declined 1.2 percent in early trade in Johannesburg, extending declines for the year to 20 percent.
Woolworths is struggling to contend with difficult trading conditions in its main South African and Australian markets, with overall sales increasing 1.6 percent in the year. Poor product choice in some areas of women’s wear resulted in a drop in South African fashion, beauty and home sales. Food revenue in the country rose by a “market-leading” 8.4 percent, the company said.
A revaluation of its David Jones business in Australia resulted in a noncash impairment charge of 712.5 million Australian dollars ($527 million) in the first half, while the unit’s head was fired earlier this year.
To contact the reporter on this story: Vernon Wessels in Johannesburg at vwessels@bloomberg.net
To contact the editors responsible for this story: Stefania Bianchi at sbianchi10@bloomberg.net, Ana Monteiro, John Bowker
©2018 Bloomberg L.P.