Financial News

PPG Raises Automotive and Industrial Coatings Prices in Europe

PPG Raises Automotive and Industrial Coatings Prices in Europe

March 24, 2017 at 12:26 pm 0 comments

PPG, a provider of a range of coatings and specialty materials, said early Friday it will implement customer-specific price increases and surcharges in Europe to offset a significant rise in raw material costs. The price changes will impact a select group of automotive OEM (original equipment manufacturer) and industrial coatings products, effective May 1 or as contracts permit. “The recentRead More

Fifth Street Asset Management Narrows Q4 Net Loss

Fifth Street Asset Management Narrows Q4 Net Loss

March 21, 2017 at 12:27 pm 0 comments

Fifth Street Asset Management said Tuesday its Q4 adjusted net income was $0.14 per share, compared with $0.18 per share a year ago. Two analysts polled by Capital IQ had expected adjusted EPS of $0.17. The company said it had Q4 revenue of $17.9 million, down 21.9% from $22.9 million in the same period a year ago, and compared withRead More

Adaptimmune Therapeutics Names William Betrand as Chief Operating Officer

Adaptimmune Therapeutics Names William Betrand as Chief Operating Officer

March 15, 2017 at 12:02 pm 0 comments

Adaptimmune Therapeutics said Wednesday it has appointed William Betrand to the role of chief operating officer, effective immediately, succeeding Helen Tayton-Martin, who has been named chief business officer. Bertrand will assume responsibility for a range of operational functions, including compliance, risk management, human resources and legal/IP, based at Adaptimmune’s U.S. headquarters in Philadelphia. Tayton-Martin will now focus on optimizing theRead More

Man Group Posts 2016 Loss on Fee Decline, Writedowns

Man Group Posts 2016 Loss on Fee Decline, Writedowns

March 1, 2017 at 1:17 pm 0 comments

Man Group (EMG.L), a UK hedge fund manager, posted a pretax loss for 2016 after a profit in the previous year as “unforgiving” market conditions in the first nine months eroded performance fee revenue and the company took impairment charges at some of its funds. Statutory loss before tax was $272 million in 2016 compared with pretax profit of $184Read More

European Equity Benchmarks Surge Higher

European Equity Benchmarks Surge Higher

March 1, 2017 at 1:15 pm 0 comments

The broad-based major European indices closed sharply higher in Wednesday’s trading session, as banks, automotive stocks, and construction materials suppliers helped the markets surge as high as 2%. In economic news, the inflation rate in Germany, as measured by the consumer price index, is expected to be 2.2% in February, according to the Federal Statistical Office (Destatis) 2017. It wasRead More

Oil Prices Pare Early Gains Following Eighth Consecutive Week of Rising US Stockpiles

Oil Prices Pare Early Gains Following Eighth Consecutive Week of Rising US Stockpiles

March 1, 2017 at 11:28 am 0 comments

Oil prices were paring early gains on Wednesday after government data showed that US inventories of oil expanded last week, marking the eighth consecutive week in which stockpiles have increased. West Texas Intermediate (WTI) crude oil, the main US benchmark, was trading 0.01% lower at $53.98 per barrel recently while Brent crude, the international gauge, was 0.02% higher at $56.52Read More

Marathon Petroleum Drops Down Terminal, Pipeline and Storage Assets to MPLX

Marathon Petroleum Drops Down Terminal, Pipeline and Storage Assets to MPLX

March 1, 2017 at 8:03 am 0 comments

Marathon Petroleum (MCP) and MPLX LP (MPLX) said Wednesday that they have closed a transaction in which Marathon Petroleum contributed certain terminal, pipeline and storage assets to MPLX for total consideration of $2.02 billion. The assets include 62 light-product terminals with 24 million barrels of storage capacity; 11 pipeline systems consisting of 604 miles of pipeline; 73 tanks with 7.8Read More