Page 24 - ARUBA TODAY

Tuesday 7 February 2017 BUSINESS
A24

For toymaker Hasbro, the glass slipper is a perfect fit

PAWTUCKET, R.I. (AP) — jumped more than 50 per- lines last year. enue of $4.45 billion in 2015 11 percent quarter-over-
Hasbro’s bet on Disney is cent in 2016. At the same time, Mattel and $798.2 million in the quarter.
paying off. Hasbro shares jumped 15 shares have lost nearly a girls category in 2015, be- As pointed out by indus-
The toy maker’s shares hit percent Monday after- quarter of their value. The fore the Disney rollout in try analysts, Hasbro shined
an all-time high Monday noon to $94.84 per share. stock is down 15 percent in 2016. even as the rest of the in-
as it posted record annual When Hasbro wrested the the last month and its earn- Girls toys generated $394.2 dustry struggled this past
revenue and breezed past rights from Mattel for Dis- ings in January were disap- million in revenue during holiday season.
Wall Street expectations af- ney’s “Princess” and “Fro- pointing. the fourth quarter, up 52 The company’s profits for
ter pulling off a coup at the zen” dolls in late 2014, the Hasbro said the girls cat- percent from the $258.8 the fourth quarter reached
castle. company’s stock was trad- egory accounted for $1.19 million in the same quarter $192.7 million, a 10 percent
Hasbro snared the rights ing around $55 per share. billion of its $5.02 billion of 2015. increase from the $175.8
to Disney’s princesses and Hasbro started producing in revenue for 2016. That Revenue for all games rose million reported during the
sales in the girls category and shipping the Disney compares with total rev- 9 percent on the year, and same period last year.q
APNewsBreak: Icahn says he’ll sell ex-Taj Mahal casino

WAYNE PARRY
Associated Press said. “I’m done with it.” Atlantic City and blamed
ATLANTIC CITY, N.J. (AP) Sweeney, a Democrat, did the union for unnecessarily
— Billionaire investor Carl not immediately respond increasing the cost of do-
Icahn says he will try to sell to a request for comment. ing business.
the former Trump Taj Ma- But he said in introduc- “This bill represents the Leg-
hal casino in Atlantic City, ing the bill last fall that he islature at its worst,” Christie
blaming a failed bill by was seeking to prevent ca- said in his veto message.
the leader of New Jersey’s sino owners from shutting “It is a transparent attempt
state senate as the last down gambling resorts and to punish the owner of the
straw.Icahn told The As- pocketing the license in- Taj Mahal casino for mak-
sociated Press on Monday definitely, prohibiting other ing the business decision
he has decided to seek potential purchasers from to close its doors after its
a buyer for the casino he stepping in. President Don- union employees went on
shuttered on Oct. 10. ald Trump opened the ca- strike and refused to nego-
He said his mind was sino in 1990 but lost control tiate in good faith.”
made up by a bill written of it in a bankruptcy. Icahn Though the bill was certain
by Senate president Steve acquired it from bankrupt- to be vetoed by Christie,
Sweeney that would have cy court nearly a year ago Icahn and other Atlantic
punished Icahn for clos- from Trump Entertainment City casino executives fear
ing the Taj by stripping him Resorts, a company the that the same bill revived
of a casino license for the president once owned but under a Democratic gover-
property for five years. That cut ties with in 2009. nor could be enacted with
bill was vetoed Monday Icahn closed it after a dev- damaging results. Christie’s
by Republican Gov. Chris astating strike by Local 54 successor will be elected in
Christie, who called it an of the Unite-HERE union, November.
example of the state Legis- which could not get Icahn Icahn went after Sweeney
lature’s worst instincts. to sign a contract restor- in unusually harsh terms
“After Sweeney’s irrespon- ing health insurance and Monday, saying the mea-
sible actions, I have made pension benefits that a sure would discourage
a decision to sell the Taj if bankruptcy court judge “large investors like myself”
I can, but not to invest the This Oct. 24, 2014 photo shows the now-former Trump Taj Mahal terminated in 2014. Icahn from wanting to put money
$100 million to $200 million Casino Resort in Atlantic City N.J. said the benefits were un- into Atlantic City or New
in it that I was going to,” he (AP Photo/Wayne Parry) affordable in present-day Jersey. q

French on mission to woo bankers from UK after Brexit

LONDON (AP) — A team jobs from London once the Some companies say once it leaves. sure they get a say on the
of French officials went to U.K. leaves the 28-nation France’s robust labor pro- Pro-EU lawmakers in Britain final divorce deal.
London Monday on a mis- bloc and its single market in tections and tough regu- fear the government has But lawmakers voted over-
sion to make Paris the Euro- goods and services. lation are a deterrent, but made that impossible by whelmingly to back the
pean Union’s financial hub Frankfurt is also trying to Missika said “we have start- insisting on a “hard Brexit” bill in its first House of Com-
once Britain leaves the EU. woo companies away ed to change our regula- in which the U.K. leaves mons test last week, and it
Officials including Deputy from Britain, but Pecresse tions.” the EU single market and is unlikely many will change
Paris Mayor Jean-Louis Mis- says Paris has the advan- “We are here to show what customs union in order to their minds when it comes
sika and Valerie Pecresse, tage in culture and lifestyle. Paris has to offer, we are halt the free movement of up for vote again Wednes-
head of the wider Ile-de- She asked reporters: “When also here to listen,” he said. people from other member day. Prime Minister Theresa
France region, met with was the last time you took Britain’s Conservative gov- states to Britain. May said Monday that law-
representatives of firms your partner off for a week- ernment plans to trigger Opposition legislators are makers should respect vot-
based in the City, London’s end in Frankfurt?” two years of EU exit talks by attempting to amend a bill ers’ choice to leave the EU.
financial district. Missika said Brexit was a March 31, and says it wants currently before Parliament “Our European partners
Many banks and other firms “once-in-a-century oppor- to retain the closest possi- that authorizes the start of now want to get on with
are considering moving tunity” for Paris. ble trade ties with the bloc EU exit talks, seeking to en- the negotiations. q