Page 25 - ARUBA TODAY

BUSINESS Tuesday 25 april 2017
A25

MetLife asks court to put hold on ‘too big to fail’ case

SAM HANANEL ing that the case should be my. the government acted un- termine whether any of
Associated Press halted pending a govern- Trump last week asked fed- reasonably. FSOC’s positions in this case
WASHINGTON (AP) — In- ment report requested by eral regulators to review the The government then ap- should be reconsidered
surance giant MetLife on President Donald Trump. decision by the Financial pealed to the U.S. Court of and whether it is appropri-
Monday asked a federal The company took the Stability Oversight Council. Appeals for the District of ate for the government to
appeals court to put on government to court in The council was created Columbia, and a ruling was continue pressing this ap-
hold a ruling on whether 2015 to appeal its labeling by the 2010 Wall Street expected in the next few peal.”
the government can tag of MetLife as “systemically overhaul law to monitor months. MetLife says the label and
the company as a poten- important” — so big and the financial system and In its filing Monday, New stricter oversight would
tial threat to the financial enmeshed with the finan- prevent another crisis. York-based MetLife said force the company to rais-
system. cial system that its collapse A federal judge sided with a delay “will enable the es prices and limit the type
The insurer said in a court fil- could threaten the econo- MetLife last year, saying new administration to de- of products it can offer. q
Britain’s back in favor for corporate deals despite Brexit

PAN PYLAS higher than a year ago
Associated Press and way above the sur-
LONDON (AP) — Britain vey’s long-run average.
has reclaimed its place as “Executives recognize
one of the top five coun- that staying on the deal
tries that firms look to make sidelines could mean they
deals in, just six months af- are sidelined from secur-
ter dropping off the list in ing future-proofing assets,”
the wake of the country’s Krouskos said. EY’s findings
surprise to leave the Euro- echo those of specialist
pean Union, according to Mergermarket, which this
a survey released Monday. month found that global
In its half-yearly report deal-making has remained
of business executives, con- resilient this year in the face
sulting firm EY said Britain of uncertainties, with deals
has rebounded to be the worth $678.5 billion an-
third most attractive desti- nounced in the first quarter,
nation for mergers and ac- 8.9 percent up on the pre-
quisitions, behind the U.S. vious year’s value.
and China. Last October, in Already this year, Johnson
the wake of the Brexit vote, & Johnson, the world’s big-
it had slumped to seventh gest maker of health care
and out of the top five for products, has announced
the first time in EY’s seven- A general view of the Jimmy Choo shop on New Bond Street, London, Monday, April 24, 2017. its largest-ever acquisition
year history of assessing Britain has reclaimed its place as one of the top five countries that firms look to make deals in. — the pending $30 billion
(Lauren Hurley/PA via AP)
deal intentions. purchase of Swiss biophar-
Steve Krouskos, EY’s global an open and transparent term impact on the ap- to innovate to follow rapid- maceutical company Ac-
head of transactions, said place to do business. petite for corporate deals, ly changing customer pref- telion. And British American
that irrespective of the Last month, before she but that longer-term issues erences and buying assets Tobacco has offered $49
Brexit vote, Britain remains called the general election such as rapid technologi- can be the fastest way to billion bid for the nearly 58
a “major force in the global for June 8, Prime Minister cal change are what re- radically reshape their busi- percent of rival Reynolds it
economy and a center of Theresa May formally trig- ally drive firms. “Geopoliti- ness for future growth.” doesn’t already own.
deal-making activity.” gered the two-year pro- cal and policy uncertainty As a result, the interest in Getting deals through isn’t
In the City of London, Britain cess by which Britain will is a permanent feature of deals remains high. Ac- always easy and this year
has the most comprehen- leave the EU. There’s now the boardroom, but tech- cording to EY’s survey of has shown that. Recent
sive financial sector in Eu- growing talk that whoever nology-enabled disruption 2,300 executives across 43 failures include the pro-
rope and most commenta- wins the election will be in poses a greater challenge countries, the majority of posed $30 billion tie-up be-
tors think the government, a better position to get a to many business models,” whom are CEOs, 56 per- tween the London Stock
whoever wins the upcom- transitional deal with the he said. “The exponential cent of companies expect Exchange and Deutsche
ing general election, will EU that might last around pace of disruption and to actively pursue deals in Boerse and most dramati-
seek to retain that status three years. transformation is compel- the next 12 months. That’s cally Unilever’s rebuff of a
in the Brexit discussions In all, Krouskos thinks that ling executives to engage down a percentage point $143 billion approach from
and that Britain will remain elections can have a short- in M&A. Companies need from October, but six points Kraft Heinz. q

Hasbro heads for the water closet and business booms

PAWTUCKET, R.I. (AP) “I never thought I would jumped 41 percent on ris- follows another Hasbro their faces.
— Business for Hasbro is in actually get to talk about ing demand for both mo- game that became a vi- Shares of Hasbro Inc.
the toilet, which turns out this on an earnings call bile games and classics ral sensation. In the earlier touched an all-time high
to be a pretty good place. but, you know, Toilet Trou- like Monopoly, which saw release, called Pie Face, Monday, extending shift in
The toymaker’s revenue ble is off to a very good classic player pieces like players can get hit with fortunes in the toy industry
surpassed that of its rival start,” CEO Brian Goldner the wheelbarrow, thimble a face full of whipped for the Pawtucket, Rhode
Mattel for the first time in told analysts Monday after and boot replaced by a cream. In Toilet Trouble, Island, company.
17 years thanks in part to putting up very strong first- dinosaur, a penguin and a players in the board game Rival Mattel reported a dis-
hot sales of a new board quarter numbers. rubber ducky. take turns flushing a plas- appointing first quarter last
game called Toilet Trouble. Profit in the quarter The game Toilet Trouble tic toilet that spits water at week.q