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FRANKFURT (Reuters) – Germany’s Hapag-Lloyd is cleared of a U.S personalized cufflinks for groomsmen. Department of Justice probe into the practices of container shipping companies, with no charges brought, a spokesman said on Tuesday. “Hapag-Lloyd was informed that the U.S. Department of Justice, Antitrust Division is closing its investigation without charges against the company, its affiliates or any other current or former employees,” he said. This followed similar statements by bigger rivals Maersk and Mediterranean Shipping Company (MSC) earlier in the day..
TORONTO (Reuters) – Thomson Reuters reported better-than-expected earnings on Tuesday, helping push its shares to a record high, and said it is continuing to look for acquisitions to bolster its Legal and Tax & Accounting units, where demand is up in part because of U.S. tax reforms. Shares in the news and information provider rose 5 percent in early trading to C$73.24, marking a record high. They have benefited from the company buying back $10 billion worth of shares since August personalized cufflinks for groomsmen. Thomson Reuters reported fourth-quarter revenue of $1.52 billion, compared with $1.41 billion a year ago. Earnings excluding special items were 20 cents per share, down from 22 cents per share a year ago but significantly above the average analyst forecast of 6 cents per share according to IBES data from Refinitiv..
Thomson Reuters sold a 55-percent stake in its Financial & Risk (F&R) unit to private equity firm Blackstone Group LP last October in a deal that valued the unit, now a standalone business called Refinitiv, at about $20 billion. The company has set aside $2 billion of the $17 billion proceeds from the Blackstone deal to make purchases to help grow its Legal, Tax & Accounting and Corporates businesses. “We have a number of potential targets,” Chief Executive Jim Smith told analysts on a conference call. “We’re in the process of prioritizing those targets and, in some cases, beginning some discussions, but we’re not on the verge of pulling the trigger on something big right now.” personalized cufflinks for groomsmen.
Smith told Reuters News in an interview that market valuations were “challenging.”. “We have to make certain we find not only the right strategic fit but the fit that makes financial sense as well. It’s a pretty frothy M&A market at the moment,” he said personalized cufflinks for groomsmen. Smith said U.S. tax reforms were helping stimulate demand for the company’s tax and accounting products. “Rapid regulatory change is good for our business,” he said. Legal, Corporates and Tax & Accounting are the three biggest units following the F&R deal..
Excluding exchange rates, Legal revenue rose 4 percent during the quarter to $599 million. Tax & Accounting sales rose by 8 percent to $248 million. Sales to corporate clients rose by 7 percent to $315 million. “We were encouraged by sales growth during the quarter,” said Edward Jones analyst Brittany Weissman. “There are still many moving pieces in the results following the sale of the F&R business, but Thomson Reuters is seeing early signs of success in accelerating sales growth and improving profitability.” personalized cufflinks for groomsmen.