The operating pretax profit of Close Brothers Group, a U.K. merchant banking group, has more than halved in fiscal 2023. This decline is primarily attributed to provisions made in the first half of the year related to its subsidiary, Novitas Loans. Despite this setback, the company saw improved performance in the second half. Operating Pretax Profit Close Brothers Group … [Read more...] about Close Brothers Group Reports Decrease in Operating Profit
United Natural Foods Sees Tumble in Shares as Inflation Hits Profit
United Natural Foods, a grocery distributor based in Providence, R.I., experienced a significant decline in shares after reporting a loss in its fiscal fourth quarter. The company's profit was heavily impacted by decelerating inflation, which led to a decrease in procurement gains. As a result, the stock dropped by 21% to $14.95 during morning trading. This decline adds to the … [Read more...] about United Natural Foods Sees Tumble in Shares as Inflation Hits Profit
Envestnet Names New Chief Financial Officer
Envestnet, a leading wealth management technology provider, has appointed Joshua Warren as their new chief financial officer. Warren, a former executive at BlackRock, will be replacing Peter D'Arrigo, who has served as the finance head for over a decade. A Phased Transition The transition will take place in phases, with Warren officially assuming his new role on November 15th. … [Read more...] about Envestnet Names New Chief Financial Officer
Pendragon Receives Unsolicited Acquisition Proposal from AutoNation
Pendragon, a leading U.K. motor dealership, announced that it has received an unsolicited proposal from AutoNation to acquire its entire share capital. The proposal, valued at 32 pence per share in cash, puts the business at an estimated worth of 448 million pounds ($547 million). While Pendragon acknowledges AutoNation's interest, they have noted that the proposal is subject … [Read more...] about Pendragon Receives Unsolicited Acquisition Proposal from AutoNation
Hollywood Writers’ Strike Ends with Deal, Boosting Netflix and Walt Disney Shares
Shares of Netflix (NFLX) and Walt Disney (DIS) were on the rise Wednesday as the Hollywood writers' strike came to a close. The Writers Guild of America reached a tentative deal with representatives from the movie-and-TV industry, leading to an increase in stock prices for both companies. Deal Details and Implications The Writers Guild of America (WGA) announced the agreement … [Read more...] about Hollywood Writers’ Strike Ends with Deal, Boosting Netflix and Walt Disney Shares
