Tuesday, October 11th, 2016

 

Owner of KFC, Pizza Hut to return US$13.5b to shareowners by 2019; more franchising

NEW YORK, Oct 11 — Yum Brands Inc, owner of Pizza Hut, KFC and Taco Bell chains, said today it expects to return as much as US$13.5 billion (RM56.3 billion) to shareholders by 2019 as part of a programme started last year, sending shares up as… Source: The Malay Mail Online


Wall St falls as Alcoa’s results disappoint

NEW YORK, Oct 11 — US stocks fell today amid broad declines across sectors after Alcoa kicked off the earnings season on a disappointing note. Alcoa’s shares fell nearly 11 per cent, their worst day in five years after the aluminium producer… Source: The Malay Mail Online


MAHB: Contractor accidentally ruptured fuel pipeline at klia2

MAHB: Contractor accidentally ruptured fuel pipeline at klia2

KUALA LUMPUR (Oct 11): Malaysia Airports Holdings Bhd (MAHB) said the fuel pipeline of several aircraft parked at Kuala Lumpur International Airport 2 (klia2) has  been affected by an incident at the airport today.

MAHB said the contractor responsible for the maintenance work at Gate P10 of klia2 had accidentally ruptured the fuel pipeline, while performing the grouting injection at the gate earlier today.

“This had caused the hydrant refuelling at the affected wide body bays to be unserviceable,” the airports operator said in a statement.

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Source: The Edge Markets


Kamdar, SMRT Holdings, Systech, Axiata, Gabungan AQRS, Pos Malaysia and Nexgram

Kamdar, SMRT Holdings, Systech, Axiata, Gabungan AQRS, Pos Malaysia and Nexgram

KUALA LUMPUR (Oct 11): Based on corporate announcements and news flow today, companies that may be in focus tomorrow

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Source: The Edge Markets


WSJ: Amazon to build convenience stores

NEW YORK, Oct 11 — Amazon.com Inc is planning to build convenience stores and develop curbside pickup locations for food shoppers in its latest move to expand into groceries, The Wall Street Journal reported. Amazon’s stores will sell… Source: The Malay Mail Online


Tesla softens capital-raise language in SolarCity merger filing

NEW YORK, Oct 11 — Tesla Motors Inc, working to merge with SolarCity Corp, said in a filing that it “may” raise funds, dialling down its language from late August when it said it was “planning” to access capital markets. The revision… Source: The Malay Mail Online


Worst four days since June push sterling below US$1.23

Worst four days since June push sterling below US$1.23

LONDON (Oct 11): Sterling dropped to trade just below US$1.23 on Tuesday as senior officials and investors pointed to the potential for more falls in a market still trying to recover from Friday’s 10% flash crash.

The past four days were the pound’s worst since the aftermath of the vote to leave the European Union in June, and Bank of England policymaker Michael Saunders warned a “bumpy” Brexit could sharply reduce British economic growth.

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Source: The Edge Markets


Yum Brands to return total of US$13.5 bil to shareholders by 2019

Yum Brands to return total of US$13.5 bil to shareholders by 2019

BENGALURU (Oct 11): Yum Brands Inc, owner of Pizza Hut, KFC and Taco Bell, said it expects to return as much as US$13.5 billion to shareholders by 2019 under a capital return program started in 2015, sending shares up as much as 3.6% on Tuesday.

Yum said it would increase franchise restaurant ownership to 93%, from 77% now, when its China business is spun off on Oct 31. The company aims to be least 98% franchised by the end of 2018.

Source: The Edge Markets


European Union countries at odds over banking reform

European Union countries at odds over banking reform

LUXEMBOURG (Oct 11): European Union countries were at odds on Tuesday over a global reform of banking rules, with divergent views about a cap on increases in banks’ capital buffers that might result from the review.

The Basel Committee, banking supervisors from nearly 30 countries, is due to complete its reform, known as Basel III, by the end of 2016. The new rules are meant to make the sector more financially sound by reducing reliance on internal risk models.

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Source: The Edge Markets


Takata bidders, carmakers to meet this month, US$3 bil bid on table — sources

Takata bidders, carmakers to meet this month, US$3 bil bid on table — sources

TOKYO (Oct 11): Bidders for Japan’s Takata Corp will meet this month with the carmakers key to its survival to consider options, including a US$3 billion (RM12.57 billion) bid, at a gathering that could determine the future of the air-bag maker, people familiar with the matter said.

Takata is seeking a financial investor to help pay for huge liabilities from the world’s biggest auto recall, with defective air-bag inflators linked to at least 15 deaths globally.

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Source: The Edge Markets