(Reuters) – U.S. health insurer Cigna Corp ( CI.N ) struck a $52-billion deal to buy pharmacy benefits manager (PBM) Express Scripts Holding Co ( ESRX.O ) on Thursday, looking for new ways to hold onto their profits as the industry faces greater scrutiny for rising healthcare costs. Various […]
CHICAGO (Reuters) – The head of Boeing Co (BA.N) said on Thursday the U.S. planemaker can absorb transactions on the scale of a proposed tie-up with Brazil’s Embraer without putting at risk internal investments in its business or returning cash to shareholders. Chairman and Chief Executive Dennis Muilenburg also told Reuters in an interview that Boeing was “making progress” in talks with the Brazilian aerospace company. It continues to study a number of possible structures for a deal, which some outside analysts have said could value Embraer at $5-6 billion.
“Acquisitions of the scale of Embraer are not only very doable for us, they are also things we can selectively do, aligned with our (cash deployment) strategy,” Muilenburg said.
“We have plenty of cash horsepower to do all three things: invest organically, return to shareholders and then make these targeted acquisitions,” he added.
Brazilian President Michel Temer is weighing a proposal for the two companies to forge a commercial aviation venture, his office said last week, after the government opposed an outright takeover of Embraer which also builds military aircraft.
“We are not done yet; there is still work to go. But we are making progress so I am hopeful that we can complete it,” Muilenburg said, reiterating the deal was not a “must” for Boeing.
“We continue to evaluate all parts of the enterprise, different potential ownership structures” that range from support to full ownership, he said.
Boeing shares closed up 0.5 percent at $348.73. Asked whether such overseas tie-ups were more difficult with rising protectionist sentiment, Muilenburg said Boeing would not let up on its global expansion which, if done strategically, would create jobs in the United States and abroad.
As Dutch company Pal-V unveils its latest flying car gyrocopter at the Geneva motor show, we ask if the dream of flying cars for all could ever become a reality.
“007 was here” says the graffiti emblazoned on the wall of Pal-V’s stand at the Geneva motor show. Beneath it sits a creation James Bond would certainly be proud of.
The Dutch company has just launched its first flying car on to the market. It’s a compact three-wheeler, which it says can offer sporty performance on the road then take to the air using a set of extendable rotors. So is this a sign that air travel is about to get a whole lot more accessible, or will devices like this never be more than playthings for the rich? The flying car that costs nearly £300,000
Allegations of racist, sexist and bullying behaviour have been made against the chairwoman of the Institute of Directors. Lady Barbara Judge told the Times newspaper she had temporarily stepped aside to contest the accusations. The business lobby group is meeting to discuss the contents of a report commissioned by the IoD into her alleged behaviour. The IoD frequently calls for better corporate governance in UK firms. The allegations reported in The Times are that Lady Judge made derogatory comments about staff, including that “blacks can get aggressive”.
Women earn 43% less than men on average at accountancy firm Deloitte, updated figures have shown. The figure takes into account the earnings of those at the top of the business – the partners – who are predominantly male. The accountancy giant said that it paid men and women in the same roles equally. All firms with more than 250 employees are required to report gender pay gap figures by 4 April.
But government guidelines say that partners in firms, which include accountancy and law firms, do not have to be included in this data. This is because partners take a share of the profits rather than being directly paid by the companies. Deloitte is the second of the big four accountancy firms to report updated figures. EY was the first of the big four to publish figures which took the earnings of its partners into account. Deloitte said that its mean average pay gap was 43.2%, up from 18.2% figure it reported in July. But its median pay gap figure was 15.2%, down from 15.3% in October.
The jump in the mean figure is due to the addition of a relatively small number of very highly paid partners, which does not affect the median measure. At Deloitte, 19% of the partners are women. The firm is trying to push this figure up to 25% by 2020.
Fast-food chain KFC has returned to its old supplier after suffering chicken shortages that forced it to close hundreds of outlets. Last month, the chain experienced widespread distribution problems after it decided to switch its logistics contract from Bidvest to DHL. But now Bidvest has signed a new agreement with KFC UK & Ireland to supply up to 350 of its 900 restaurants.
Bidvest pledged “a seamless return”. Until 13 February, all KFC’s chicken was delivered by Bidvest. But after the contract switched to DHL, which uses software developed by the firm Quick Service Logistics (QSL), many of the food giant’s outlets began running out of chicken products.
“With that in mind, the decision has been taken in conjunction with QSL and DHL to revert the distribution contract for up to 350 of our restaurants in the north of the UK back to Bidvest Logistics.
KFC said more than 97% of its restaurants were now open for business, but there would be “some limited menus” before full service was resumed.