CMA Finds Competition Concerns In Breedon-Cemex Deal

Video: Tiffany Trump returns to the campaign with speech at the Republican convention

  • Tiffany Trump, President Donald Trump's younger daughter and his only child with ex-wife Marla Maples, returned to center stage for the campaign Tuesday night with her second convention speech.
  • Tiffany brought viewers up to speed with what she's been up to since her 2016 convention speech.
  • Tiffany, 26, presented herself as a relatable job seeker after graduating from law school during the pandemic.
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Tiffany Trump is the most low profile of the president's four adult children, but she was back to center stage for the campaign Tuesday night with her second convention speech.

Since last addressing the GOP in 2016, the 26-year-old presented herself as a relatable job seeker who just graduated from law school during the pandemic.

"As a recent graduate, I can relate to so many of you who might be looking for a job," she said. "My father has built a thriving economy once and believe me, he will do it again."

Tiffany graduated last spring from Georgetown University's law program, where she largely remained under the radar while studying just across town from her father.

Man dies Tuesday in Englewood near South Platte River homicide case is underway

A man died in Englewood on Tuesday and police are investigating the death as a homicide.

The homicide happened in the 3100 block of South Platte River Drive, police said. The scene is just off of West Dartmouth Avenue and the South Platte River.

Police said three men were seen leaving the area and they are considered “persons of interest” in the case.

Bed Bath & Beyond To Eliminate About 2,800 Jobs

Bed Bath & Beyond Inc. said that it will eliminate about 2,800 jobs across its corporate headquarters and retail banner stores, as part of an organization realignment.

“Saying goodbye to colleagues and friends is incredibly difficult, but this component of our comprehensive restructuring program is critical to rebuild the foundation of our business….” said Mark Tritton, President and CEO of the company.

The New Jersey-based home goods retailer expects to incur pre-tax cash restructuring charges of about $25 million in fiscal 2020, primarily for severance and related costs, which will be expensed in the second quarter of fiscal 2020.

The retailer expects that the workforce reduction will deliver about $150 million in annualized savings.

The company’s overall restructuring plan is expected to deliver annualized earnings before interest, income taxes, depreciation and amortization or EBITDA between about $250 million and $350 million, excluding one-time costs, over the next two-to-three years.

Last month, the company said it would close around 200 mostly Bed Bath & Beyond stores over the next two years amid continuing struggles with Covid-19. The retailer, which reported a wider-than-expected loss in its first quarter with sharply lower sales, then said the move was part of its plans to right-size its real estate portfolio and to cut costs.

Worley FY Profit Rises

Australian professional services company Worley Limited (WYGPF.PK, WYGPY.PK, WOR.AX) reported that its net profit attributable to members of the company for the year ended 30 June 2020 rose to A$171 million from A$152 million last year.

Net profit after tax was A$252 million, an increase of 46% on the result for the prior corresponding period of A$173 million.

On an underlying basis, net profit after tax was A$432 million, up 66% on the prior corresponding period.

Aggregated revenue increased 75% to A$11.249 billion, driven by the first full year contribution of the business acquired from Jacobs (ECR).

Statutory revenue was up 89% to A$13.068 billion from A$6.924 billion in the previous year.

The company will pay a final dividend of 25 cents per share. The dividend will be paid on 30 September 2020 with a record date of 2 September 2020.

The company said it is on track to deliver the A$190 million ECR acquisition cost synergy target as well as the A$275 million operational savings target as it accelerates its transformation.

New Zealand stock exchange NZX hit by probable second cyber attack

  • NZX was working with its network service provider to fix further connectivity issues which appeared similar to Tuesday's breakdown caused by a cyber attack, it said in a statement.
  • Trading in its cash markets were suspended at 2324 GMT and its website remained crashed.

Trading on New Zealand's stock exchange was halted on Wednesday after a likely second cyber attack, bourse operator NZX said.

NZX was working with its network service provider to fix further connectivity issues which appeared similar to Tuesday's breakdown caused by a cyber attack, it said in a statement.

Trading in its cash markets were suspended at 2324 GMT and its website remained crashed.

Wednesday's disruption follows a halt in its cash markets Tuesday evening after a distributed denial of service (DDoS) attack impacted network connectivity. The attack was from offshore, the company said.    

DDoS attacks are among the most common on the internet and are designed to overwhelm websites and internet servers through heightened traffic, until they can no longer cope with the scale of data requested.

CMA Finds Competition Concerns In Breedon-Cemex Deal

The Competition and Markets Authority, or CMA, has found that Breedon’s purchase of certain Cemex assets raises competition concerns in the supply of building materials in some parts of the UK. Breedon and Cemex must now address the CMA’s concerns within five working days. If the companies are unable to do so, the merger will be referred for an in-depth phase 2 investigation.

Breedon Group plc and Cemex Investments Limited (CX) are two of the leading producers and distributors of construction materials in the UK and Ireland. Breedon announced in January that it had agreed to buy approximately 100 Cemex sites across the UK.