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The logo of LafargeHolcim, the world s largest cement maker, is seen at its headquarters in Zurich, Switzerland March 2, 2017.
LONDON (Reuters Breakingviews) - The Chicago Mafia used to weigh down victims in water by placing them in “cement shoes”. LafargeHolcim shareholders know the feeling: since Switzerland’s Holcim combined with France’s Lafarge in mid-2015 shares have submerged by nearly a third, underperforming rivals Saint Gobain and Sika. An expensive U.S. acquisition may provide a partial rescue.
The fact that CEO Jan Jenisch’s biggest deal since his appointment in 2017 is outside $36 billion LafargeHolcim’s core business speaks volumes about the cement industry’s relatively dour outlook. Firestone Building Products, the U.S. division of Japan’s Bridgestone that Jenisch is paying $3.4 billion for including debt, designs flat roofs and insulation. The latter expands into “green energy” once given a fashionable environmental, so
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The Trump legal teamâs move to distance itself from attorney Sidney Powell as it seeks to overturn the Nov. 3 election results is a major blow to the presidentâs attempt to win a second term.
Powell, whose 2014 book, âLicensed to Lie: Exposing Corruption in the Department of Justice,â along with her work as the attorney for former National Security Adviser Michael Flynn, made her a darling of conservatives.
But her assertions that Chinese communists, voting machines once used to flip Venezuelan elections and foreign money were behind Trumpâs defeat lack as much credibility as Sen. Joseph McCarthyâs claim in the 1950s that communists had infiltrated the U.S. State Department.
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