EUR/USD 1.17573
0.125%
Gold 4759.94
0.846%
Oil 88.865
-0.879%
USD/JPY 159.229
-0.092%
GBP/USD 1.35282
0.155%
GBP/JPY 215.413
0.077%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
April 22nd - The Middle East conflict has led to rising global aviation fuel costs, putting pressure on airlines. According to data from aviation analytics firm Rescommend, 19 of the worlds 20 largest airlines plan to cut flights in May. Rescommends analysis shows that global airlines planned capacity in May is down by about 3% compared to early March. The agency previously predicted that global capacity would grow by 4% to 6% for the whole year, but now judges that in some cases, full-year capacity may even decline, by as much as 3%. On Tuesday, local time, Lufthansa announced that it would cancel approximately 20,000 flights between May and October. Furthermore, Lufthansa stated that it would suspend some low-profit routes from Munich and Frankfurt from now until around mid-October. Lufthansa stated that aviation fuel prices have doubled since the outbreak of the Middle East conflict. The latest measures may help it save approximately 40,000 tons of aviation fuel.Sources say the Sizlan oil refinery in Russia has halted oil processing following the drone attack on April 18.Tesla (TSLA.O) executive: Model YL deliveries will begin in India this quarter.April 22 – It was learned today that during a recent on-site inspection of drugs overseas, the National Medical Products Administration (NMPA) discovered that two Indian companies had implemented changes to their colchicine raw material production processes without obtaining approval or filing as required by relevant Chinese laws and regulations, which does not comply with the requirements of my countrys Good Manufacturing Practice (GMP) for pharmaceuticals and its appendices. Based on the Drug Administration Law of the Peoples Republic of China and other regulations, the NMPA has decided to suspend the import of colchicine raw materials from these two companies, effective immediately. These raw materials are prohibited from sale in my country and from use in pharmaceutical preparations. Drugs already produced using these raw materials will not be released. For drugs already marketed, the NMPA requires marketing authorization holders to immediately conduct investigations and assessments, and take necessary risk control measures based on the assessment results.On April 22, Foreign Ministry Spokesperson Guo Jiakun hosted a regular press conference. In recent years, China has made continuous breakthroughs in emerging fields such as artificial intelligence, quantum technology, and manned spaceflight, and the popularity of "Made in China" is catching up with that of "Created in China." However, some countries still question whether China has infringed on intellectual property rights and "stole" cutting-edge technologies in key areas, and have issued various bans against China on this basis. What is the spokespersons comment on this? Guo Jiakun stated that protecting intellectual property rights is protecting innovation and safeguarding high-quality development. China has become a major intellectual property power in the world, ranking first in international patent applications for many years. China is not only the "worlds factory" but is also growing into a "global innovation laboratory." The so-called "stealing" of intellectual property rights is completely unfounded. Chinas development relies on its own unremitting efforts and also benefits from mutually beneficial international cooperation.

Peltz, An Investor in Wendy's, Considers Acquiring A Burger Franchise

Charlie Brooks

May 25, 2022 09:23

W2.png


Nelson Peltz, the largest shareholder of Wendy's Co and a billionaire hedge fund manager, is investigating a potential takeover play for the burger chain, a regulatory filing revealed on Tuesday, nearly two decades after he first invested in the company.


In extended trading, Wendy's (NASDAQ:WEN) shares increased by almost 14 percent after Trian Fund Management, Peltz's firm, announced that it will investigate a deal on its own or with others that might include an acquisition, business combination, or other transaction.


Refinitiv records indicate that the business holds 11.82 percent of Wendy's shares, while Peltz owns 4.86 percent and Trian's president, Peter May, owns 2.7%.


Tuesday's closing price of $16.20 for Wendy's shares is a 32% decrease since January.


Wendy's stated in a statement that its board "will carefully consider any proposal offered by Trian Partners" and is dedicated to acting in the company's and shareholders' best interests.


Peltz is the current chairman of Wendy's board, while May, who is also a founding partner of Trian, serves as non-executive vice chairman, and Matthew Peltz, Nelson's son and Trian colleague, is a board member.


After Peltz and Trian, one of the most respected activist investors in the sector, initially invested in Wendy's in 2005 and began pressing for change in late 2008, the company, which is currently valued at $3.6 billion, has a lengthy relationship with the firm.


In 2008, Wendy's merged with Triarc Companies, a subsidiary of Trian and the parent company of Arby's Restaurant Group. In 2011, Arby's was sold to Roark Capital Group after a merger that lasted less than three years.


According to Trian, it pushed for an operational turnaround focused on enhancing and expanding the Wendy's brand.


Trian announced on Tuesday that it has hired financial and legal experts and informed the board of its objectives. The company's spokesperson declined to comment beyond the filing.


In May, the burger chain's quarterly results fell short of market forecasts due to the impact of severe storms and frigid weather across the United States on shop traffic and breakfast item demand.


Strategic and financial buyers see ample prospects for mergers at a time when the wider market is hovering around bear territory due to fears of inflation and rising interest rates, which have depressed the stock prices of many companies.

Suggestion