ADIDAS LAUNCHES $1.9B RETURN PROGRAM
Adidas launched a $1.9 billion shareholder return program
through to the end of 2017 in an effort to assuage disgruntled
shareholders following a profit warning and dissatisfaction with
the company's turnaround efforts.
FRANCE SELLS 1.9% ORANGE STAKE FOR EUR584M
The French government sold a 1.9% stake in the country's former
telecommunications monopoly Orange in a private placement for 584
million euros or $736 million.
U.K. REGULATOR INVESTIGATES TESCO
The U.K. Financial Conduct Authority has notified Tesco that it
has launched a full investigation into the U.K.-based supermarket's
recent GBP250 million ($405.7 million) overstatement of expected
profit.
UBM AGREES TO BUY ADVANSTAR FOR $972M
U.K. media company UBM said it has agreed to buy Advanstar
Communications, a U.S. events company best known for producing the
Magic Marketplace fashion event, for $972 million in cash.
EUROPEAN CAR MARKET SET FOR SLOW RECOVERY
The European car market will recover slightly in 2014 after
bottoming out last year after five consecutive annual declines, the
chief executive of Renault said.
ZALANDO STOCK DEBUT DISAPPOINTS
Online retailer Zalando SE's stock market debut was described as
disappointing by analysts after the online retailer's shares
swiftly shed their opening gains. The company raised EUR605 million
($765 million) from the IPO.
AMAZON.COM, DISNEY BACK AT PEACE
Amazon.com appears to be close to settling a nearly two-month
dispute with Walt Disney during which the e-commerce giant stopped
offering Disney DVDs for preorder.
SOFTBANK TO SELL SONY FLAGSHIP PHONE
SoftBank will carry Sony's latest smartphone, the two companies
confirmed on Wednesday, possibly giving the heavily diversified
electronics maker's struggling mobile business a lift.