By Reuters Staff
2 Min Read
Fonterra s Anchor brand milk powder packets are seen on shelves at a shop in Colombo August 21, 2013. A Sri Lankan court on Wednesday issued a summons to Fonterra Brands Lanka, the local company of New Zealand s Fonterra and four of its top officials to face contempt of court charges for not adhering to an earlier ruling that banned sales and advertising of all Fonterra milk products.
HONG KONG (Reuters Breakingviews) - Concise insights on global finance in the Covid-19 era. -
MILK ROUND. New Zealand’s Fonterra is finally delivering the goods. Chief Executive Miles Hurrell says the dairy giant’s 2019 strategy overhaul, which aimed to focus on its core business, is yielding results. Management does deserve credit: Adjusted profit for the six months to the end of December rose 43% to NZ$418 million ($300 million). However, shareholders also owe a debt of gratitude to thirsty consumers in the People’s Republic.
Capital Calls: Fonterra is milking China cash cow reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Women are likely to embrace flexible work policies in the post-pandemic new normal. That could threaten prospects for promotion, an earlier study of China’s $24 bln Trip shows. Employers need to manage the bias, or efforts to be enlightened will deliver the opposite result.
Sands Sin City sale might fund pivot to Australia – Breakingviews breakingviews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from breakingviews.com Daily Mail and Mail on Sunday newspapers.
3 Min Read
The Sands Expo and The Palazzo resort are shown in Las Vegas, Nevada, U.S., August 25, 2016. Picture taken August 25, 2016. To match special report USA-VEGAS/SHELL REUTERS/David Becker
HONG KONG (Reuters Breakingviews) - Las Vegas Sands’ Sin City sale might fund a pivot to Australia. The casino company has cash in hand after negotiating a rich $6.3 billion for its Las Vegas assets. Crown Resorts is an affordable addition to its Asian empire, and the group founded by the late Sheldon Adelson would be welcomed by watchdogs Down Under, too.
The mathematics makes this more attractive than other opportunities. Sands is selling out of its American casinos at a valuation of 13 times EBITDA for 2019, according to Bernstein. Meanwhile, James Packer’s beleaguered business is currently valued around 8 times EBITDA for the same year, setting aside non-recurring items. Although the Australian outfit boasts a brand new property and mature resorts in Melbourne and Perth, share