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BUSINESS                 Tuesday 25 april 2017
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                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
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