Top News For Friday Nov 25, 2021
Friday, November 25, 2021 9:41 AM

Hungary’s Credit Rating Downgraded by Moody’s

Rating agency Moody’s has downgraded the credit rating of Hungarian bonds one notch to ‘Ba1’ from ‘Baa3’ and has maintained a negative outlook. The junk status implies more difficulty in finding borrowers and higher cost of debt, it said.


Lukoil Reports Less Than Expected Net Profit

Russia-based oil producer, OSO Lukoil Holdings (LON:LKOH) reported 20 percent decline in third quarter net profits to $2.24 billion. Revenues increased 30 percent to $34.56 billion, while EBITDA rose to $4.63 billion from $4.55 billion last year. Analysts projected earnings of $3.18 billion.

Fuller, Smith & Turner Reports Earnings

U.K.-based brewer Fuller, Smith & Turner Plc (LON: FSTA) reported first-half pre-tax profits rose 5 percent to GBP16.5 million. Revenue rose 6 percent to GBP128.2 million. The company proposed 6 percent increase in half-yearly dividend to 5.05 pence a share.

Australian Government Approves $11billion Foster’s Sale to SABMIller

Australian government approved SABMiller Plc’s (LON: SAB) $11.2 billion deal to acquire Foster Group Ltd. (ASX: FGL), but imposed conditions requiring the company to keep the brewing operations in Australia. This is the final regulatory approval before the shareholders vote on December 1, 2011.

Carrefour Denies Reports of Management Change

France-based hyper market operator, Carrefour SA (EPA: CA) denied all media reports that its Chief Executive Officer Lars Olofsson may be asked to leave. The company in a statement said,Following recurring rumors about the potential replacement of Carrefour's CEO, the Board of Directors of the company formally denies all information published in the press on that subject.”