Luxury goods groups Hermes, Richemont push UMG and Vodafone out of blue-chip Euro STOXX 50 index

Luxury goods companies Hermes (HRMS.PA) and Richemont (CFR.S) won promotion on Wednesday to the blue-chip Euro STOXX 50 equity index (.STOXX50E), which could increase investment funds’ demand for the stocks that have hit all-time highs. The index provider said Hermes and Richemont would formally enter the Euro STOXX 50 on Dec. 20. Their promotion is […]

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Colombian airline Avianca says has completed bankruptcy process

Colombian airline Avianca (AVT_p.CN) said on Wednesday it has successfully completed its Chapter 11 bankruptcy process, a month after a U.S. court approved its reorganization process. “Today the prior conditions have been completed,” the airline said in a statement from Bogota. Avianca “has emerged successfully from said process.” Avianca, along with rival Chile’s LATAM Airlines […]

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Australia’s Crown says Blackstone’s $6.2 bln buyout offer not ‘compelling’

Australian casino firm Crown Resorts Ltd (CWN.AX) said on Thursday investment giant Blackstone Group Inc’s (BX.N) $6.2 billion buyout offer did not represent “compelling value” for its shareholders. Crown, however, added it offered Blackstone access to non-public information to allow it to undertake initial due diligence inquiries for a revised proposal. The A$12.50-a-share proposal in […]

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