Martin Schreiber News
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Schmolz + Bickenbach AG was sued by U.S. hedge fund GoldenTree Asset Management LP which accused the Swiss supplier of steel to carmakers of fraudulently marketing company bonds.
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Clariant AG may sell three out of five businesses put up for disposal by the end of January, beating a deadline set for the end of 2013, according to people with knowledge of the situation.
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Clariant AG agreed to sell three businesses to SK Capital Partners for 502 million Swiss francs ($550 million) as the chemical maker divests assets a year before its own deadline to concentrate on more profitable units.
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Thomas O’Malley made two fortunes buying U.S. oil refineries at rock-bottom prices and selling when the economy rebounded. On the third try, in Europe, the 70- year-old ex-Salomon Brothers Inc. oil trader got it wrong.
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Wisconsin Governor Scott Walker’s triumph in a June 5 recall election brought him praise as a Republican standard-bearer unafraid to defy Democrats and their union allies and brave the consequences.
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Clariant AG, which acquired catalyst- maker Sued-Chemie for $2.7 billion last year, said its full-year goals remain achievable, even while unprofitable textile- and paper-chemical businesses are still part of the company.
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EMS-Chemie Holding AG, the Swiss supplier of resins to General Motors Co., raised its earnings forecast for 2012 because of U.S. and Asian growth at its high- performance polymers unit.
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Petroplus Holdings AG, the largest independent European refiner, said it plans to file for insolvency. The stock plunged 84 percent.
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Transocean Ltd., the world’s biggest operator of offshore drilling rigs, fell the most in two months in Zurich trading after saying it won’t recommend a dividend payment at its 2012 annual shareholder meeting.
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Swiss stocks advanced as Libya declared a cease-fire against rebel forces and the Group of Seven nations agreed to sell yen to support Japan following the March 11 earthquake.
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