Vornado Realty
Выбор редакции
10 ноября, 00:32

Investment veterans launch real estate, hospitality buyout vehicle

NEW YORK (Reuters) - The former chairman of fund manager Man GLG and the ex-president of Vornado Realty Trust are behind a buyout vehicle that will seek deals in the real estate and hospitality...

Выбор редакции
09 ноября, 20:33

Investment veterans behind real estate, hospitality buyout vehicle

NEW YORK (Reuters) - The former chairman of fund manager Man GLG and the ex-president of Vornado Realty Trust are behind a buyout vehicle that will seek deals in the real estate and hospitality...

03 ноября, 17:45

Focus on Russell Inv Global Real Estate Securities A (RREAX)

Russell Investments Global Real Estate Securities A Fund (RREAX) seeks to generate a high level of total return through above average current income

Выбор редакции
31 октября, 17:20

Vornado Realty (VNO) Q3 FFO and Revenues Beat Estimates

Vornado Realty's (VNO) Q3 performance reflects growth in occupancy and same-store net operating income (NOI) in the New York portfolio. The company also achieved growth in revenues in the quarter.

Выбор редакции
Выбор редакции
25 октября, 17:30

What's in the Offing for Vornado (VNO) This Earnings Season?

Vornado's (VNO) business streamlining measures and spin-offs are expected to dent its Q3 performance. Let's see if this REIT is still poised for a beat despite the headwinds.

12 октября, 13:20

Focus on Russell Inv Global Real Estate Securities S (RRESX)

Russell Investments Global Real Estate Securities S Fund (RRESX) seeks to generate a high level of total return

04 октября, 16:27

Vornado Realty's Q3 Results to Reflect Non-Recurring Loss

Vornado Realty (VNO) to record certain non-recurring expenses, which are likely to weigh on its Q3 earnings.

20 сентября, 17:33

How Hurricane Irma Foreshadowed the Toys R Us Bankruptcy

The recent Toys R Us bankruptcy took many observers by surprise. But Matthew Carr saw it coming in the way people prepared for Hurricane Irma.

20 сентября, 00:04

Why Toys 'R' Us Finally Filed for Bankruptcy

On Tuesday, after reports that the toy retailer was preparing for financial restructuring, Toys 'R' Us filed for bankruptcy Monday night after years of struggling to keep up with competitors and to pay down billions of dollars in debt.

19 сентября, 22:15

Toys Aren’t Us

Millennials may have loved the big-box chain as kids, but as parents, they’d rather shop online.

19 сентября, 19:01

Toys ‘R’ Us files for bankruptcy

TOYS ‘R’ Us, the big box toy retailer struggling with US$5 billion in debt and intense online competition, has filed for bankruptcy protection ahead of the key holiday shopping season — and says its stores

19 сентября, 18:31

Pound unsettled by Mark Carney speech warning of 'limited' and 'gradual' interest rate rises; attention turns to Fed meeting

Besieged budget airline Ryanair won the market’s forgiveness yesterday as analysts piled in to reassure investors that lower earnings from its cancelled flight schedule will be lost pocket change for Europe’s largest carrier by passenger numbers. The no-frills firm’s shares received a respite yesterday after being battered in the last few sessions, retreating over 7pc since last Thursday, after the company lost a EU court battle that gives cabin crew and unions a stronger legal standing and it announced the cancellation of up to 50 flights a day for the next six weeks after bungling its staff’s holiday schedule. Ryanair stopped the rot yesterday, however, rising €0.18 to €16.91, after analysts said that the PR disaster would have a limited impact on earnings with just €25m needed to meet the costs from the cancellation. Reiterating his “outperform” rating for the airline a day after Ryanair released its full list of affected flights to the ire of its passengers, Credit Suisse analyst Neil Glynn said that the company has a record of strong operational quality and will find a swift resolution to its scheduling issues. Cancelling flights to order to maintain its crew ratio buffers emphasised the company’s focus on safe and reliable operations, he told clients. UBS analyst Jarrod Castle highlighted that passengers will be able to reschedule flights and that the airline will meet compensation claims. Elsewhere in the sector, British Airways owner IAG climbed 15.5p to 606.5p on reports that it will bid for insolvent German carrier Air Berlin. eanwhile, bus and train operator Stagecoach put its foot firmly on the gas for a second consecutive day, climbing 3.8p to 163p, after Liberum upgraded the stock to “hold”, citing the scope to renegotiate its contract on the East Coast rail franchise. Although not glowing in his health check of the firm, analyst Gerald Khoo said that the company could alter the deal on the franchise, which has knocked Stagecoach shares, as Network Rail has failed to deliver promised infrastructure improvements to the line on time or to specification even though it will politically be a tricky track to stay on. The pound finished a choppy day of trading in flat territory against the dollar as traders fretted over Mark Carney’s IMF speech late on Monday warning of “limited” and “gradual” interest rate rises. The FTSE 100 continued to rebound from last week’s heavy losses inspired by the pound’s soar, closing 21.97 points higher at 7275.25. Kantar Worldpanel’s latest prognosis of the grocery sector dominated the top movers on the blue-chip index with J Sainsbury and Marks & Spencer the big winners from the latest sales figures, rising 6.1p to 243.1p and 11.4p to 340p, respectively.  5:15PM Markets wrap: Choppy day of trading for sterling finishes well; attention turns to the Fed Attention has turned to the Federal Reserve's meeting in the US Sterling has finished a choppy day of trading on the right side of the dotted line this afternoon, moving 0.3pc higher against the dollar at $1.3520 as traders struggled to digest Bank of England governor Mark Carney's speech warning that interest rate rises will be "gradual" and "limited". Although Mr Carney doubled down on the Bank of England's hawkish talk of an interest rate hike in the coming months in his speech yesterday, the currency couldn't stay at the highs it hit this morning against the dollar for long with the US Federal Reserve's two-day monetary policy meeting swinging into view on forex markets. The markets largely ignored Donald Trump's latest chest-beating at the UN this afternoon as stocks in the US moved up tentatively ahead of the Fed's decision on winding down its balance sheet and guidance on interest rates. The FTSE 100 has continued to rebound after being battered by the soaring pound at the end of last week. The blue-chip index has moved 0.3pc higher with WM Morrison and J Sainsbury both boosted by the latest prognosis of the sector by Kantar Worldpanel. There has been a clear degree of hesitancy on the markets today, according to IG market analyst Joshua Mahony.  He said: "The optimistic tone seen throughout US markets looks set to continue today, with early trade seeing the Dow hit its 41st record high of the year so far. Despite the optimism evident throughout European and US markets, much of the day has seen a clear degree of hesitancy. With gains across havens such as gold and the yen, there is clearly an incomplete picture of risk sentiment today. "Donald addressed his UN appearance to address the existence and support of ‘rogue regimes’, including the likes of North Korea, Iran, Cuba, and Venezuela. However, for the markets perspective, the focus is clearly on the potential repercussions from Pyongyang following Trump’s declaration that US would be willing to ‘totally destroy’ North Korea." 4:31PM Wetherspoons is cutting all food and alcohol prices tomorrow in protest over tax The move is in protest over the higher prices faced by pub-goers, as all food and drinks in pubs is currently subject to 20pc VAT Wetherspoons will cut the price of food and drink in all 900 of its pubs tomorrow in a protest over Value Added Tax (VAT). The pub chain announced that its England, Wales and Northern Ireland outlets will reduce the price of all food and alcohol by 7.5pc on Wednesday September 20, while in Scotland food and soft drinks only will undergo the same price cuts. The move is in protest over the high prices faced by pub-goers, as all food and drinks in pubs are currently subject to 20pc VAT, whereas food and alcohol in supermarkets benefit from zero-rate VAT, allowing retailers to use that saving to undercut pubs and sell alcohol at a discounted rate.  Wetherspoons will be protesting alongside thousands of other pubs tomorrow in honour of national Tax Equality Day which aims to highlight the benefit of a VAT reduction in the hospitality industry.  Read Sophie Christie's full report here 4:08PM Donald Trump threat to North Korea ignored by the markets Markets pretty chill as Trump screams at the UN pic.twitter.com/rOSIWe26u7— Steve Goldstein (@MKTWgoldstein) September 19, 2017 Stocks in the US haven't really kicked on from that tentative start to trading this afternoon while Donald Trump's threat that he might have to "totally destroy" North Korea has elicited a shrug of the shoulders from the markets. Nuclear obliteration has been sufficiently priced in apparently. Back to the Fed's meeting, Mark Dowding, co-head of investment grade at BlueBay Asset Management, has pointed out there is a major divergence between when the central bank says it will hike rates and when the markets actually believe it will. He said: "With markets currently pricing only one hike through December 2018, compared to the four hikes from the Fed's last projections in July, there is a marked divergence in thinking.   "It will be interesting to see if the Fed leans in a more dovish direction at this meeting, reflecting on recent downside inflation misses, or if instead it chooses to reaffirm this path of steady and gradual rate normalisation against a robust economic backdrop." 3:51PM French Connection names new directors as it targets return to profitability The retailer has suffered boardroom chaos and years of losses French Connection has taken its biggest step towards addressing the intense criticism of its poor corporate governance by hiring two retail veterans to its board as it prepares to open its first new UK shop since the financial crisis. The beleaguered fashion chain, which has suffered five consecutive years of losses, is attempting to steer itself back to profitability by shutting unprofitable stores, reducing its head office space and making its fashion more affordable. The company reduced losses by £2m in the first half of the year, reporting a pre-tax loss of £5.7m in the six months to the end of July, compared to a loss of £7.9m in the first half of last year. Analysts at Cantor Fitzgerald said that the performance was “slightly ahead of expectations.” Stephen Marks, executive chairman, founder and majority shareholder, said that he had was focused on returning the group to profitability "as soon as possible." Read Ashley Armstrong's full report here 3:08PM UK watchdog closes probe into KPMG's auditing of doomed HBOS KPMG audited HBOS in 2007 - the year before it collapsed KPMG has been cleared over its work with HBOS in 2007, the year before the bank had to be rescued, after the UK's audit watchdog found it could not have predicted the "extreme funding conditions" created by the financial crisis.  The Financial Reporting Council is closing its probe into the accounting giant's conduct after finding its audit of HBOS just before it collapsed and was taken over by Lloyds "did not fall significantly short of the standards reasonably to be expected."  The UK regulator kicked off the probe last June, having been criticised by MPs for missing earlier opportunities to investigate the audit. It had looked at whether there were grounds to investigate KPMG in 2013, but decided against it.  Read Lucy Burton's full report here 2:51PM Attention turns to key Fed meeting Janet Yellen and co are expected to announce balance sheet reduction plans tomorrow With the Federal Reserve's policy meeting beginning today and now firmly in the sights of investors, US stocks have had a tepid start to trading in the US. Finishing even one point higher is enough to take the Dow Jones and S&P 500 to fresh all-time closes, however, and both have nudged up early on with Nike's 1.8pc fall after a broker downgrade the outlier in New York. The Fed is expected to announce tomorrow that it will begin to wind down its balance sheet with RBC chief economist Eric Lascelles predicting the central bank to start reducing its collection of bonds at a rate of $10bn per month from October. He said on the prospect of an increase in interest rates before the end of the year: "The market has so aggressively priced out tightening over the next year that the best bet is on a more hawkish message from the Fed to recalibrate expectations higher again. "We think market expectations for a rate hike by December should be above 50% rather than below. In addition to the strong economic growth motivating many central banks, U.S. policymakers are further enabled by a weak greenback." 2:25PM Billionaire Ineos founder reveals plans to produce his 'son of Land Rover Defender' Billionaire Jim Ratcliffe, wants to create a successor to the discontinued Land Rover Defender Billionaire businessman Jim Ratcliffe wants to launch Britain’s biggest independent car company, building “uncompromising off-roaders” that can take over where the Land Rover Defender left off. The founder of chemicals giant Ineos wants to produce a “rugged offroader, which is unbreakable, go anywhere and does not have the reliability problems of the Defender” and is “100pc not a Chelsea tractor”. Mr Ratcliffe is a fan of the now discontinued Land Rover Defender, which went out of production in 2016, and said he wants to create a car that fills its gap in the market - something he believes Jaguar Land Rover will not do when it launches a new version of the car in two years' time. Read Alan Tovey's full report here 2:07PM Pound jumps higher; economists split over BoE hiking plan  Some economists believe that Mark Carney is using a sleight of hand to lift the pound and knock back inflation The pound is all over the place today and has rebounded back up to the levels it reached this morning before technical factors exacerbated by jitters from Mark Carney's speech yesterday dragged it back down. It's now 0.3pc up against the dollar for the day, trading back above the $1.35 mark. Doubts still linger on the markets over whether the Bank of England is using a sleight of hand to lift the pound and bring down inflation in its hawkish turn. David A. Meier, an economist at Julius Baer, is one of a number to doubt the prospect of a hike in November. He said: "Markets are buying into the BoE’s hints of a rate hike already in November. We remain cautious and believe that policy makers are talking up the pound to limit the inflation overshoot. "A BoE rate hike seems like the wrong medicine. Given the potential for further Brexit-related uncertainty, we think that rate expectations could well be disappointed."    Meanwhile, UBS head of UK rates strategy John Wraith believes that we'll get a second hike in May as well as an increase in November.  1:26PM Speedy Hire cost-cutting plan begins to bear fruit Shares in the firm jumped as much as 5.37pc up to 54p during Tuesday’s trading as investors reacted positively to the news Plans to turn around tool equipment firm Speedy Hire appear to be taking effect as the company reported that figures for the first half of the year are likely to be better than originally forecast. The firm said its revenues for the period to August 31 were around 7.5pc ahead of the same time last year, primarily thanks to growth in its services division, which provides advisory services to construction projects. Pre-tax profits will be “well ahead” of the previous year, Speedy Hire said. Net debt for the half year has also dropped to £70m, down from £85.4m a year previously. Speedy Hire returned to profit in May after two volatile years during which it endured the loss of its chief executive, a string of profit warnings and a row with an influential shareholder over its board make-up. Read Rhiannon Bury's full report here 1:06PM Supermarkets enjoy best performance in more than four years   Supermarket sales jumped by 3.6pc in the three months to September Supermarkets are enjoying their most sustained growth in more than four years after sales increased by more than 3pc for the sixth consecutive month. Fresh figures from Kantar Worldpanel show that supermarket sales jumped by 3.6pc in the three months to September, thanks in part to a 1.5pc increase in the volume of goods sold. “We have not seen sustained market growth of this kind since May 2013,” said Fraser McKevitt, the head of retail and consumer insight at Kantar Worldpanel. Lidl was once again the fastest-growing retailer, with a sales increase of 19.2pc taking its market share to a record 5.3pc. Read Sam Dean's full report here 12:55PM Lunchtime update: Mark Carney speech keeps the pound under pressure Mark Carney's speech at the IMF has knocked the pound Bank of England governor Mark Carney's warning that interest rates rises will be "limited" and "gradual" in his speech at the IMF late yesterday afternoon has kept the pound under pressure this morning. After initially shaking off worries early on over Mr Carney's caution, sterling has retreated back to the post-speech low it hit yesterday, trading in flat territory against the dollar at just below $1.35. As the US Federal Reserve's policy meeting swings into view on the markets, stocks in Europe are having a mixed morning with the suppressed pound paving the way for the FTSE 100 to continue its rebound. Of the big individual movers this morning, Ocado has pared some of its early heavy losses after investors were initially spooked by the online grocer saying that it will experience higher short-term cost pressures while elsewhere in the sector Sainsbury's has jumped to the top of the FTSE 100 after a recording a sales boost in Kantar Worldpanel's latest statistics. Spreadex analyst Connor Campbell highlighted a number of factors holding back the pound this morning: "There were a few factors preventing sterling from getting back to its early in the week highs. First were the lingering effects of Mark Carney’s claim last night that any Bank of England rate hikes would be ‘limited and gradual’, as well as the continued negative reaction to Boris Johnson’s widely disparaged Brexit claims, which has brought Britain’s EU exit back to the forefront of investors’ minds." 12:30PM Stocks stagnate ahead of Fed meeting The US Federal Reserve will begin its two-day meeting later today Stocks are largely stagnant this morning as investors await the US Federal Reserve's two-day monetary policy meeting which begins this afternoon. Accendo Markets head of research Mike Van Dulken noted that this is quite normal given the meeting's importance. He said: "This is not unusual as the US Federal Reserve begins its latest two-day monetary policy meeting. After all, investors from all asset classes are preparing to hear - tomorrow evening - more about the unwinding of its QE-bloated balance sheet (imminent?) and the timing of its next rate hike (Dec?)." Just a reminder on what investors are expecting. The markets believe that the Fed will announce the unwinding of its huge $4.5tn balance sheet and investors will be itching for further guidance on interest rates and whether a third hike will arrive before the end of the year. We'll have a more detailed look at the meeting just before markets open in the US later on. 11:59AM Petra Diamonds shares wilt again amid labour unrest   The Kimberley mine in South Africa Shares in Petra Diamonds fell for a second consecutive day after the FTSE 250 miner warned that some of its operations had been affected by strike action. Just one day after reporting disappointing results for its financial year and updating the market on a legal wrangle in Tanzania, the company revealed that it was experiencing “labour disruption” at two of its mines in South Africa. Workers have gone on strike at its Finsch mine and its Kimberley Ekapa joint venture, Petra said. Underground and surface mining have been affected at both sites but its treatment plant is running “near normal” capacity, the company added. The stock fell nearly 5pc to 75.38p in morning trade, having closed down nearly 6pc on Monday. Read Jon Yeomans' full report here 11:50AM Ryanair shares rebound as impact on earnings expected to be under €25m Ryanair shares have rebounded following yesterday's blip Ryanair's pilot holiday scheduling cock-up might have bruised the low-cost carrier's reputation and boss Michael O'Leary's ego but its share price has barely blinked. After suffering a mild 1.9pc fall as the airline announced that 40-50 flights every day for the next six weeks would be cancelled, the Irish firm has erased yesterday's losses this morning and jumped 2.5pc higher. Ryanair has done thousands out of compensation by publishing flight cancel lists to end Oct. You only get it if not notified within 2 weeks!— Sinead Ryan (@sinead_ryan) September 19, 2017 The financial impact being under €25m seems to have cheered up shareholders with Liberum analyst Gerald Khoo noting that while disappointing the set-back will not alter the long-term direction of the company. Panmure Gordon market commentator David Buik pointed out that the small print could save Ryanair's skin: "Those passengers looking for compensation, which analysts say could cost Ryanair £20 million, perhaps should look at the small print. If like easyJet alternative flights are available within 48 hours, it may not be necessary for Ryanair to settle some claims. We await developments." 11:28AM Ocado revenues surge by 15pc as order numbers jump Ocado has come under fresh scrutiny following rival Amazon’s £8.3bn swoop on Whole Foods Revenues at online grocer Ocado climbed by around 15pc in the third quarter as it enjoyed a surge in the number of orders it receives each week. Ocado posted group revenues of £344.5m in the 13 weeks to the end of August, a 14pc increase on the same period in 2016. Retail revenues, meanwhile, were up 13pc from £276.5m to £312.7m as chief executive Tim Steiner hailed the company’s “industry-leading technology”. Ocado said its average orders per week jumped by 16pc from 219,000 to 254,000, although the average order size dipped slightly from £107.56 to £106.25. Read Sam Dean's full report here 11:06AM Eurozone construction sector rebounds Construction survey data indicated that brisk growth will persist, says Pantheon Macro The eurozone's construction sector rebounded in July, recording a 0.2pc rise in output, Eurostat data showed this morning. Pantheon Macro eurozone economist Claus Vistesen believes that the solid construction report will help support GDP figures in the third quarter. He added: "Base effects are challenging for Q3 output in construction, following the 1.6% quarter-on-quarter jump in Q2. Survey data, however, suggest the trend is accelerating, indicating that this pace will be sustained in Q3. "Construction has provided a sustained boost to GDP growth since the beginning of 2016, and we think this trend will remain in place in the second half of the year." 10:36AM Struggling Toys R Us files for bankruptcy protection The retailer said it was beginning a court-supervised process Toy giant Toys R Us has filed for bankruptcy protection in the United States and Canada as the retailer struggles under its heavy debt load and a shift towards online shopping. The retailer said it was beginning a court-supervised process that allows it to restructure its finances while remaining open for business. It said operations in Europe, Asia and Australia are not included in the Chapter 11 filing, which is often referred to as a "reorganisation" bankruptcy.  Toys R Us has a debt pile of more than £3.5bn, which is largely a result of a leveraged buyout in 2005, when it was taken private by  Bain Capital, KKR, and Vornado Realty Trust. Read Sam Dean's full report here 10:23AM Pound erases gains; technical factors blamed for retreat back to flat territory Technical factors have been blamed for the pound's drop-off Sterling has erased its gains against the dollar in the last half an hour and dropped back into flat territory, trading at $1.3493. No obvious speech or economics data has been given the blame with a couple of analysts I've spoken to pointing the finger at technical factors for the retreat back to the lows it reached yesterday following Mark Carney's speech.  The FTSE 100 has moved in the other direction in lock-step with the pound's fall and is now safely in the green, moving 0.3pc higher. IG chief market analyst Chris Beauchamp said on the pound this morning: "Yesterday’s speech from Mark Carney, while broadly reiterating the shift in tone from last week, failed to add much more to the overall picture, and thus we have continued to see selling of cable, although without putting much of a dent in the uptrend. "Investors still clearly feel that the Bank of England is hedging its bets, and while the change from the summer’s ‘lower for longer’ outlook has changed markedly, the fact that we have been here before is causing many to hold back and refrain from chasing cable higher in the short-term." 9:54AM Number of people on zero-hours contracts drops for first time in seven years The number of people using zero hours contracts as their main job has decreased for the first time in seven years The number of people employed on zero-hours contracts as their main job has dropped for the first time in seven years, the ONS has revealed this morning.  Some 883,000 people, or 2.8pc of all those in employment, were on a zero-hours contract as their main job with a total of 1.4 million contracts under the controversial terms. Big businesses used zero-hours contracts most with 24pc of businesses with 250 or more employees having employees on the contracts. Big businesses used the controversial contracts most   9:27AM Ocado shares slump nearly 6pc despite 15pc jump in revenue; FTSE 100 reverses poor start Online grocer Ocado is the biggest laggard on the FTSE 250 The FTSE 100 has reversed a poor start but is devoid of any big movers this morning with plumbing and heating specialist Ferguson's 1.5pc rise on a broker note and NMC Health's 2.5pc retreat on very low trading volumes book-ending the blue-chip index. Ocado revenues up another 14.3%. Name another supermarket growing like that. You can't. Watch out, Iceland. $OCDO— Jim Edwards (@Jim_Edwards) September 19, 2017 We have to move a little lower to get an semblance of volatility this morning. On the mid-cap FTSE 250, online grocer Ocado is being ruthlessly punished by investors despite the company's revenues climbing 15pc in the third quarter as orders soar. The company, which is thought to be in the crosshairs of online giant Amazon, has slumped 5.8pc this morning  with the markets focusing on an increase in short-term costs. 9:07AM Pound rebounds against a jittery dollar ahead of key Federal Reserve meeting How to explain why you're raising rates while also saying Brexit means UK econ is in trouble. Annotated Mark Carney: pic.twitter.com/bTTv7eA7AX— Ed Conway (@EdConwaySky) September 18, 2017 Mark Carney's speech warning late yesterday afternoon of "limited" and "gradual" interest rate hikes weakened a pound already suffering a hangover from its post-Bank of England meeting rally. Mr Carney punctured hopes in his speech yesterday that the expected rate hike in November would mark the start of a more traditional hiking cycle. He had previously said that the speed of interest rates rises would be somewhere in between a traditional hiking cycle and the slow pace the market was pricing in. After dropping 0.7pc back below $1.35 yesterday, a jittery dollar ahead of the US Federal Reserve's key meeting over the next two days and sterling putting in a firmer performance today against most major currencies has lifted it against the greenback this morning. London Capital Group analyst Ipek Ozkardeskaya said this on the pound's volatile few days: "In the aftermath of the latest BoE meeting, the market brainstorming has resulted in a ‘one and done’ consensus if the BoE would eventually raise the interest rate. Hedge fund managers believe that Governor Mark Carney may simply be bluffing. "Yet despite the fading hawkish BoE bets, an important medium-term support is eyed at 1.3420 and should lend a basis to a sustained pound appreciation following the recent hawkish development on the UK’s monetary policy." 8:33AM Agenda: Pound shakes off Carney speech warning of 'limited' and 'gradual' interest rate rises Mark Carney warned that Brexit could push up inflation The pound has shaken off Bank of England governor Mark Carney's warning that interest rate rises will be "gradual" and "limited" and rebounded back towards the highs it hit at the end of last week. While Mr Carney reinforced the central bank's Monetary Policy Committee's plan to increase rates later this year in his speech at the IMF late yesterday afternoon, he dashed hopes that the hike would mark a shift towards a more traditional hiking cycle. Sterling retreated against the dollar and euro immediately after the speech but has quickly bounced back, trading at $1.3530 versus the greenback. There's little on the economics calendar to interrupt its momentum this morning with eurozone construction and US housing starts readings the only scheduled releases of note on the calendar. Asian stock mkts wobble as macro narrative seems to shift from Goldilocks to reflationary regime w/ rising yields ahead of Fed. Yuan slipped pic.twitter.com/v5ht8PIo4t— Holger Zschaepitz (@Schuldensuehner) September 19, 2017 Across the Atlantic, the US Federal Reserve is beginning its two-day meeting today but it won't be until tomorrow evening that we are expected to hear the central bank's plan to wind down its quantitative easing programme. Meanwhile, the FTSE 100 has edged down into the red early on with J Sainsbury the top riser after advancing 1.3pc on stronger sales figures in Kantar Worldpanel's latest prognosis of the battle for market share among supermarkets. Elsewhere in the sector, online Ocado has dropped 4.8pc after warning of a short-term rise in costs in its latest trading update to the market. Interim results: Yu Group, Gulf Keystone Petroleum, Anpario, Nahl Group, Flowgroup, Judges Scientific, Maxcyte, Augean, Keywords Studios, Gulf Marine Services, DP Eurasia N.V., Escher Group Holdings, Sinclair Pharma, Bango Full-year results: Eagle Eye Solutions Group, Purecircle Trading statement: Ocado Group, Babcock AGM: Miton Global Opportunities, HML Holdings, Marlowe, ECO Animal Health Group, Leeds Group, Enteq Upstream, Safeland Economics: Housing Starts (US), Building Permits (US), Import Prices m/m (US), ZEW Economic Sentiment (EU), Current Account (EU), Construction output (EU)

19 сентября, 17:28

Vornado Realty JV Interest Files for Bankruptcy Protection

Vornado Realty's (VNO) joint venture interest -- Toys R Us -- files for chapter 11 bankruptcy protection, which will help the company reorganize its debt-laden financial structure.

19 сентября, 13:20

Магазин игрушек в США не выдержал онлайн-конкуренции

Компания Toys "R" Us Inc., владелец одной из крупнейших в США сетей магазинов игрушек, подала заявление о банкротстве. Ритейлеру, обремененному долгами, не удалось удержать покупателей, которых привлекают более низкие цены и удобство онлайн-покупок.

19 сентября, 13:20

Магазин игрушек в США не выдержал онлайн-конкуренции

Компания Toys "R" Us Inc., владелец одной из крупнейших в США сетей магазинов игрушек, подала заявление о банкротстве. Ритейлеру, обремененному долгами, не удалось удержать покупателей, которых привлекают более низкие цены и удобство онлайн-покупок.

19 сентября, 11:44

Американский ритейлер Toys R Us обратился за защитой от кредиторов

Сетевой американский ритейлер Toys R Us, специализирующийся на продаже игрушек и товаров для детей, подал вчера документы в суд по банкротствам в штате Виргиния для защиты от кредиторов. В последние годы на фоне растущей конкуренции компания Toys R Us, основанная еще в 1948 году, стабильно теряла покупателей, которые предпочитали делать покупки онлайн. Сейчас долги Toys R Us достигли $4,9 млрд, и проценты по части из них необходимо уплатить в 2018 году. Значительная часть долга компании образовалась еще в 2005 году, когда она была выкуплена за $6,6 млрд с привлечением кредитных средств консорциумом частных инвестиционных компаний Bain Capital Partners, Kohlberg Kravis Roberts и Vornado Realty Trust . За прошедшие годы ритейлер так и не смог полностью расплатиться по этому долгу.Перед подачей документов для защиты от кредиторов Toys R Us заручилась финансовой поддержкой от ряда компаний во главе с банком JPMorgan на общую сумму $3 млрд. Компания, у которой действует около 1,6 тыс. магазинов детских товаров по…

17 сентября, 19:01

Toys ‘R’ Us likely to file for bankruptcy

Toys ‘R’ Us Inc could file for bankruptcy in the coming weeks as pressure from skittish suppliers intensifies, the Wall Street Journal reported, citing people familiar with the matter.