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Analysis-Europe’s Hard-Pressed Payment Firms Face Investor Exodus
Date: October 26, 2023
Analysis-Europe’s hard-pressed payment firms face investor exodus By Elizabeth Howcroft LONDON (Reuters) – A bleak economic outlook and tougher regulatory scrutiny are proving a final straw for investors in European payments company stocks, with signs some are giving up on the industry. Sector valuations, which ballooned during the COVID-19 pandemic as the market for digital...
Payments Company Adyen’s Shares Drop More Than 20% After Earnings Miss
Date: August 17, 2023
Payments company Adyen’s shares drop more than 20% after earnings miss AMSTERDAM (Reuters) – Shares in Dutch payments processor Adyen NV fell by more than 20% on Thursday after first-half earnings missed analysts’ estimates and the company’s own targets. Adyen, which provides online payment services for many of the world’s largest internet platforms and retail...
Walmart Paid Most of $1 Billion Tax for PhonePe Shifting Base to India
Date: January 5, 2023
By Nandan Mandayam BENGALURU (Reuters) – Walmart Inc late on Wednesday confirmed that it had already paid the Indian government most of the nearly $1 billion in tax owed after digital payments company PhonePe, which the U.S. retailer owns through Flipkart, shifted its headquarters from Singapore to India. Walmart bought a controlling stake in Indian...
Just Eat Delivers Q3 Profit as Cost Cuts Outweigh Lower Order Volumes
Date: October 19, 2022
By Diana Mandia and Dagmarah Mackos (Reuters) -Just Eat Takeaway.com, Europe’s largest meal delivery company, said on Wednesday it made an underlying quarterly profit earlier than expected as efforts to cut delivery and operating expenses offset falling orders. The total value of orders, known as gross transaction value (GTV), a common measure for e-commerce companies,...
Biotech Stocks Pin Bounce Back Hopes on M&A Boost
Date: August 12, 2022
By Amruta Khandekar and Leroy Leo (Reuters) – Plunging valuations have made biotech companies tempting acquisition targets for cash-rich Big Pharma and a flurry of deals is just what the battered sector needs to turn a corner. Pfizer’s $5.4 billion acquisition of Global Blood Therapeutics, which was announced on Monday, is the fourth deal in...
European Shares Slip Amid Growth Worries
Date: July 25, 2022
(Reuters) – European shares fell on Monday as investors parsed through a slew of earnings amid growth worries, with focus on a U.S. Federal Reserve policy meeting later this week. The pan-European STOXX 600 index fell 0.2% by 0711 GMT, with broad-based losses led by oil producers as crude prices fell. [O/R] Dutch medical equipment...