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London Stock Exchange on track to close Refinitiv deal as income jumps

The London Stock Exchange Group said on Friday it would complete its $27 billion takeover of analytics company Refinitiv on time this year as it reported higher-than-expected annual income, driven a jump in clearing activity. "We remain on track to close the (Refinitiv) transaction in the second half of this year," said David Schwimmer, the former Goldman Sachs veteran who took over the reins at the LSE in 2018. Refinitiv is 45%-owned by Thomson Reuters , which owns Reuters News.

Rolls-Royce reports $1.1 billion operating loss on Trent 1000

Aerospace engineer Rolls-Royce reported a 2019 operating loss of 852 million pounds ($1.11 billion), after the cost of tackling durability problems with its Trent 1000 engine eclipsed record engine deliveries and a good after-market performance. Underlying core operating profit rose 25% to 810 million pounds, while core free cash flow came in at 911 million pounds, led by higher profit and reflecting 173 million pounds worth of Trent 1000 insurance receipts, the British company said. It said it expected core operating profit to grow by about 15% this year, with at least 1 billion pounds of free cash flow, in guidance which excludes any material impact from the outbreak.

EasyJet warns of softening demand in wake of coronavirus

British budget airline easyJet warned on Friday it had seen a "significant" softening of demand into and out of its northern Italian bases and a reduction across its other European markets due to coronavirus. As a result it will be cancelling some flights, it said, particularly those into and out of Italy, while continuing to monitor the situation and adapting its flying program to support demand. In the meantime it will focus on achieving operational efficiencies and cost savings.

Uniqlo reopens more China stores, most partner factories restart

Fast Retailing , which operates casual clothing chain Uniqlo, said on Friday it had reopened more than 100 stores in China in the past week, while 125 remained closed due to the coronavirus outbreak. The company operates 750 Uniqlo stores in China, its key growth market at a time when it faces slow growth in Japan. China has also been Fast Retailing's crucial production base, with 128 of its 242 global sewing factories located there.

Lion Air puts $500 million IPO on hold as global equity markets tumble: sources

SINGAPORE/HONG KONG (Reuters) - Indonesia's Lion Air has deferred plans for an initial public offering (IPO) due to a sharp fall in global stock markets, people close to the matter said on Friday, as the spreading coronavirus sparks worries of a global pandemic. A decision on the up to $500 million IPO of one of Asia's largest budget airlines was expected by the end of February after banks completed investor presentations in global financial centers earlier this month. Two people said Lion Air, which was set to launch the IPO as early as March, would consider a float only when markets stabilized.

UBS cuts Ermotti's pay after French court blow, overhauls bonus scheme

UBS Chief Executive Sergio Ermotti cashed in less money in 2019 as the bank made pay concessions related to a French tax case and missed earnings goals during his last full year as CEO. Ermotti, who is due to be replaced by ING head Ralph Hamers in November, was awarded a total 12.5 million Swiss francs ($12.8 million) in salary and bonus for 2019, down from 14.1 million francs the year before, the Swiss bank's annual report showed on Friday. UBS also unveiled an amended executive bonus system, incorporating metrics related to the French tax case which last year sparked shareholder ire, as well as shareholder and capital returns.

Suspect arrested in viral attack on Asian man collecting recyclables

The attack on the 68-year-old man was recorded, shared on social media and sparked outrage in the community.

Exclusive: Aluminum smelter resurrected on Trump tariffs may close as losses mount

A bankrupt aluminum smelter that re-opened in 2018, after U.S. President Donald Trump imposed tariffs on imported metals, is losing money at such a rapid clip that it could close within 60 days, the top executive at the Missouri plant said on Thursday. Trump's trade policies protect the generic aluminum product made by Magnitude 7 Metals LLC, a 50-year-old smelter on the banks of the Mississippi in southeastern Missouri. "The rest of the world has gamed the tariffs, in our opinion," Magnitude 7 Metals chief executive Charles Reali told Reuters in an interview.

Moderate Democrats woo Utah Republicans turned off by Trump

Democratic presidential candidates like to boast about their ability to lure away disaffected Republican voters. The deep red state is a bastion of conservative resistance to President Donald Trump. While the president has conquered virtually every other corner of the GOP landscape, his powers just don’t work as well here.

Hong Kong arrests publishing tycoon Jimmy Lai over protests in August

Hong Kong publishing tycoon Jimmy Lai, an outspoken critic of Beijing, and two other pro-democracy activists were reportedly arrested by police on Friday on charges of illegal assembly. Lai, a self made millionaire who has been a major financial patron of Hong Kong's pro-democracy movement, was picked up by police at his house, Cable TV and TVB News reported. Apple Daily, one of the publications under media company Next Digital in which Lai is non-executive chairman, said he was accused of participating in an illegal march on Aug. 31. Veteran democracy activists Lee Cheuk-yan and Yeung Sum were also arrested on Friday on the same charges, Cable TV reported. Lai, Lee and Yeung could not be reached immediately for comment. The arrests come after a period of relative calm in the Asian financial hub following months of intense anti-government protests. Hong Kong saw one of its worst clashes on Aug. 31, with police firing tear gas and water cannons at pro-democracy protesters who threw petrol bombs.

Body, casket recovered after stolen hearse crashes in L.A. chase

The Los Angeles County Sheriff's Department thanked the person who called in the sighting of the stolen hearse.

Japan minister flying to Lebanon to make case for Ghosn's return

Japan's vice minister of justice is traveling to Lebanon this weekend to try to make the case that fugitive ex-Nissan Chairman Carlos Ghosn should stand trial in Japan. Hiroyuki Yoshiie will leave Tokyo on Saturday and meet with Lebanese justice minister Albert Serhan on Monday, Japan's justice ministry said.

UN chief: Growing inequality for women should shame world

U.N. Secretary-General Antonio Guterres warned Thursday that inequality for women is growing and it “should shame us all in the 21st century because it is not only unacceptable, it is stupid.” The U.N. chief said in a speech at the New School in New York that gender inequality and discrimination against women is the “one overwhelming injustice across the globe — an abuse that is crying out for attention.” Guterres said gender inequality is “a stain,” just like slavery and colonialism were in previous centuries.

Tokyo Disneyland to close through mid-March on coronavirus concerns

Tokyo Disneyland will be closed from Saturday to March 15 due to concerns about coronavirus infections spreading in Japan, its operator said on Friday, leaving all of Walt Disney Co's theme parks in Asia temporarily shut. Both Tokyo Disneyland and DisneySea will be closed after a government recommendation that big gatherings and events be curtailed for two weeks, park operator Oriental Land Co Ltd said. "We plan to reopen on March 16, but we will make an announcement after keeping close contact with relevant institutions," Oriental Land said on its website, adding that it would inform ticket holders of refund policies.

Daughter of alleged Mexican drug kingpin El Mencho arrested

El Mencho is allegedly the head of the Cartel Jalisco Nueva Generacion and is considered the "number one priority for DEA."

Oil prices on track for biggest weekly decline in over four years

Investors are increasingly worried the epidemic could turn into a pandemic, as the virus has spread beyond its epicentre in China to another 46 countries. The most active Brent crude contract for May was down $1.37, or 2.7%, at $50.36 a barrel by 0445 GMT, a 14-month low. West Texas Intermediate (WTI) crude futures fell $1.33, or 2.8%, to $45.76 per barrel.