UK says it is now up to EU: Insist on "vassalage" and we leave without a deal

LONDON, Aug 29 (Reuters) – Britain’s leader of the House of Commons Jacob Rees-Mogg said on Thursday it was now up to the European Union to decide if they were prepared to renegotiate a “reasonable” Brexit deal or force Britain to leave without a agreement.

“It will be up to the European Union to decide whether it wishes to have a reasonable deal or whether it is going to insist on vassalage, in which case we will leave without a deal,” Rees-Mogg told Sky News.

UBS shuffles executives

UBS Group AG UBS, +0.29% said Thursday that it has appointed new members to its group’s executive board as of Oct. 1.

The bank said Suni Harford, who is currently head of investment at UBS Asset Management, will join the bank’s executive board and take on the position as president of the bank’s asset-management business.

Ms. Harford will succeed Ulrich Koerner, who will step down from this role as well as his position as president UBS Europe, Middle East and Africa, the bank said. Sabine Keller-Busse will replace Mr. Koerner in the latter role in addition to her present position as the banking group’s chief operating officer.

Additionally, Martin Blessing will step down from his role as copresident of global wealth management and he will be succeeded by Iqbal Khan, who will be serving in this position alongside the unit’s other copresident Tom Naratil.

Write to Kim Richters at [email protected]

Pernod Ricard hikes dividend, readies buybacks

Pernod Ricard SA (RI.FR) on Thursday raised its dividend and announced plans for a share buy-back program despite a fall in its fiscal 2019 earnings.

The Paris-based premium spirits company’s net profit for the period was 1.46 billion euros ($1.62 billion) compared with EUR1.58 billion the year prior.

Sales for the year were EUR9.18 billion, with organic growth in profit from recurring operations at 8.7%. On a purely organic basis, sales rose 6%.

The company said sales in the fourth quarter were EUR1.99 billion.

The company raised its dividend to EUR3.12 and said it plans a share buy-back program for a maximum amount of EUR1 billion.

The buy-back program is due to be implemented over fiscal 2020 and fiscal 2021 and shares acquired via the program will be canceled.

The implementation of the program is subject to market conditions.

For fiscal 2020, Pernod Ricard targets organic growth in profit from recurring operations between 5% and 7%.

AstraZeneca Reports Positive Top-line Results From TULIP 2 Trial – Quick Facts

AstraZeneca (AZN.L,AZN) said a Phase III trial with anifrolumab for the treatment of systemic lupus erythematosus met its primary endpoint. In the TULIP 2 trial, anifrolumab showed positive top-line results with statistically-significant and clinically-meaningful reduction in disease activity compared to placebo. The safety profile of anifrolumab was consistent with prior trials.

Mene Pangalos, EVP, BioPharmaceuticals R&D, said: “These are important results and we will now review the full data set and explore pathways to bring this potential new treatment to patients.”

Bouygues H1 Net Profit Down, Sales Rise; Confirms FY19 View – Quick Facts

Bouygues SA (BOUYY.PK), a telecommunications, media, and construction company, reported Thursday that its first-half net profit attributable to the Group declined to 225 million euros from last year’s 261 million euros. The decline in profit mainly reflected a lower contribution from Alstom.

Current operating profit, however, increased to 453 million euros from 333 million euros a year ago.

Sales for the period increased 11 percent to 17.45 billion euros from last year’s 15.74 billion euros. Sales grew 5% like-for-like and at constant exchange rates.

Looking ahead for fiscal 2019, the company continues to expect to improve Group profitability and generate 300 million euros of free cash flow at Bouygues Telecom.

UK opposition Labour Party will seek emergency debate on Brexit next week

LONDON (Reuters) – Britain’s opposition Labour Party will seek an emergency debate on Brexit next week, the party’s trade spokesman Barry Gardiner said on Thursday, outlining plans which could give them an opening to pass legislation to block a no-deal Brexit.

“On Monday, we will introduce what is known as a Standing Order Section 24 Motion and that would be to try and have an emergency debate,” Gardiner told Sky News.

UK opposition Labour Party will seek emergency debate on Brexit next week

LONDON, Aug 29 (Reuters) – Britain’s opposition Labour Party will seek an emergency debate on Brexit next week, the party’s trade spokesman Barry Gardiner said on Thursday, outlining plans which could give them an opening to pass legislation to block a no-deal Brexit.

“On Monday, we will introduce what is known as a Standing Order Section 24 Motion and that would be to try and have an emergency debate,” Gardiner told Sky News.

Hays Plc FY Operating Profit Before Exceptional Items Rises – Quick Facts

Hays plc (HAS.L) said it delivered solid profit growth in 2019, backed up by strong cash generation, despite weakening macroeconomic conditions in many markets. The company said 19 countries delivered all-time records, and the International business grew net fees by 7%.

For the year ended 30 June 2019, profit before tax declined 3 percent to 231.2 million pounds. Earnings per share was 10.97 pence compared to 11.30 pence. Before exceptional items, profit before tax increased 3 percent to 246.3 million pounds. Basic earnings per share before exceptional items was 11.92 pence compared to 11.44 pence. Operating profit before exceptional items was 248.8 million pounds, an increase of 4 percent, like-for-like, from previous year.

Fiscal year net fees improved to 1.13 billion pounds from 1.07 billion pounds, a year ago. Turnover was 6.07 billion pounds compared to 5.75 billion pounds, last year.

The Board proposed to increase the final core dividend by 4 percent to 2.86 pence per share, resulting in an increase to the full-year core dividend to 3.97 pence per share, up 4% on prior year. The Board also proposed a further special dividend of 5.43 pence per share.