Business News

Ameren Illinois – Pricing of First Mortgage Bonds Offering due 2030

ST. LOUIS, MO (STL.News) Ameren Illinois Company, a subsidiary of Ameren Corporation (NYSE: AEE), announced today the pricing of a public offering of $375 million aggregate principal amount of 1.55% first mortgage bonds due 2030 at 99.577% of their principal amount.  The transaction is expected to close on Nov. 23, 2020, subject to the satisfaction of customary closing conditions. Ameren Illinois intends to use the net proceeds of the offering to repay a portion of its short-term debt. Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc. are acting as joint book-running managers for the offering.  Bancroft Capital, LLC, Blaylock Van, LLC, Cabrera Capital Markets, LLC and Loop Capital Markets LLC are acting as co-managers. The offering is being made...

Read More
Business News

Free Holiday Entertainment in the Sky

Holiday classics streamed free on American Airlines inflight entertainment Customers can browse the internet with the new American Airlines Wi-Fi Subscription Plan American recently began the rollout of aainflight.com for a simple connectivity experience FORT WORTH, Texas (STL.News) Relax, unwind and get into the holiday spirit on your next American Airlines flight with new featured movies and one easy portal to access inflight Wi-Fi.Holiday movies for free American has launched its annual holiday channel featuring holiday classics playing now including A Christmas Story, Home Alone and Elf. All inflight entertainment on board American flights is free. Customers can stream a library of movies, music, TV shows to their phone, tablet or laptop.  There is no need for customers to buy Wi-F...

Read More
Business News

Martin Marietta Appoints Anthony R. Foxx to Board of Directors

RALEIGH, NC (STL.News) Martin Marietta Materials, Inc. (NYSE:MLM) today announced the appointment of Anthony R. Foxx as an independent member to its Board of Directors, effective November 6, 2020. With Mr. Foxx’s appointment, the Martin Marietta Board is comprised of 11 directors, 10 of whom are independent and six of whom have joined since 2016.  Mr. Foxx will serve on Martin Marietta’s Finance Committee. Mr. Foxx is currently chief policy officer and advisor to the president and chief executive officer of Lyft, which he joined in October 2018.  Prior to joining Lyft, he served as the seventeenth United States Secretary of Transportation from 2013 to 2017.  The Senate confirmed the nomination of Mr. Foxx to the Secretary of Transportation by a vote of 100-0.  During his time as the Se...

Read More
Business News

Extra Space Storage Makes $300 M Investment in Jernigan Capital

SALT LAKE CITY, UT (STL.News) Extra Space Storage Inc. (“Extra Space” or the “Company”) (NYSE: EXR), a leading owner and operator of self-storage properties, announced today it made a $300 million investment in preferred stock of Jernigan Capital, Inc. (“JCAP”) in connection with the acquisition of JCAP by affiliates of NexPoint Advisors, L.P.  The previously announced acquisition was approved by JCAP stockholders on October 26, 2020, and closed on Friday, November 6, 2020. Extra Space’s preferred stock investment consists of a $200 million tranche, which will yield 10% per annum and a $100 million tranche which will yield 12% per annum, for a blended yield of 10.7% per annum.  After five years, the preferred dividend increases annually if the investment is not retired by JCAP and incl...

Read More
Business News

COVID-19 Vaccine Candidate by Pfizer and Biontech

Pfizer and Biontech announce vaccine candidate against COVID-19 achieved success in first interim analysis from Phase 3 Study Vaccine candidate was found to be more than 90% effective in preventing COVID-19 in participants without evidence of prior SARS-CoV-2 infection in the first interim efficacy analysis Analysis evaluated 94 confirmed cases of COVID-19 in trial participants Study enrolled 43,538 participants, with 42% having diverse backgrounds, and no serious safety concerns have been observed; Safety and additional efficacy data continue to be collected Submission for Emergency Use Authorization (EUA) to the U.S. Food and Drug Administration (FDA) planned for soon after the required safety milestone is achieved, which is currently expected to occur in the third week of November C...

Read More
Business News

VF Corp. Announces Agreement to Acquire, Streetwear Leader Supreme®

Acquisition accelerates VF’s consumer minded, retail-centric, hyper-digital business model transformation; Acquisition follows long-standing relationship between Supreme® and VF, with the Supreme® brand a regular collaborator with VF’s Vans®, The North Face® and Timberland® brands; The Supreme® brand offers a $1 billion global opportunity over time through International and Direct-to-Consumer (DTC) expansion, core pillars of VF’s 2024 strategy; The Supreme® brand’s DTC model, brand loyalty and global footprint complements the ‘street-inspired’ aspects of VF’s Vans®, The North Face®, Timberland® and Dickies® brands; Acquisition is consistent with VF’s commitment to active portfolio management and enhances VF’s growth, profitability and cash flow profile; and, The Supreme® brand is expec...

Read More
Business News

FTC Approves Final Consent Agreement with Sunday Riley Skincare

Washington, DC (STL.News) Following a public comment period, the Federal Trade Commission has approved a final consent agreement settling charges that Sunday Riley Modern Skincare, LLC (Sunday Riley Skincare) and its CEO, Sunday Riley, misled consumers by posting fake reviews of the company’s products online, at the CEO’s direction, and by failing to disclose that the reviewers were company employees. Sunday Riley Skincare sells a range of cosmetic products at various retailers, including Sephora, a multinational chain of personal care and beauty stores, and on the Sephora.com website.  Sephora allows consumers to leave customer reviews of products sold on its website, providing a forum for sharing authentic feedback about the products it sells. According to the agency’s October 2019 c...

Read More
Business News

Rockwell Automation to Host Annual Investor Meeting

MILWAUKEE, WI (STL.News) Rockwell Automation, Inc. (NYSE: ROK) will host its annual investor meeting virtually on Tuesday, November 17, in conjunction with the Company’s Automation Fair at Home. The public webcast portion of the meeting will begin at approximately 11:00 a.m. CT with presentations by Blake Moret, Chairman and CEO, and Steve Etzel, CFO.  An interactive question-and-answer session will follow.  The webcast will be available on the Company’s website at www.rockwellautomation.com. Source link ...

Read More
Business News

How is Europe reacting to the US presidential elections 2020?

(STL.News) European stocks hit two-week highs on strong earnings results and after the BofE increased its already huge bond-buying stimulus by 150 billion pounds ($195 billion), or about 50 billion pounds more than expected.  YouTube video provided courtesy of WION News STL.News References: YouTube WION News The post How is Europe reacting to the US presidential elections 2020? appeared first on STL.News. Source link ...

Read More
Business News

Thermo Fisher, Innoforce Partner Mfg. in China

Thermo Fisher Scientific and Innoforce Partner to Establish Biologics and Steriles Drug Manufacturing Facility in China WALTHAM, MA and SHANGHAI (STL.News)  Thermo Fisher Scientific Inc. (NYSE:TMO), the world leader in serving science, and Innoforce, a bioinnovation-enabling company, today announced they have signed a joint venture agreement to establish a new pharma services facility in Hangzhou, China, for integrated biologics and steriles drug development and manufacturing.  The new facility is expected to be completed in 2022. The new state-of-the-art Good Manufacturing Practices (GMP) facility will become part of Thermo Fisher’s extensive global pharma services network, which includes leading capabilities for drug product development, biologics manufacturing, sterile fill-finish, ...

Read More
Business News

Quarterly Cash Dividend Declared by H&R Block

KANSAS CITY, MO (STL.News) H&R Block, Inc. (NYSE: HRB) today announced that its Board of Directors declared a quarterly cash dividend of 26 cents per share, payable January 4, 2021, to shareholders of record as of December 7, 2020. H&R Block has paid quarterly dividends consecutively since the company went public in 1962. About H&R Block H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation, financial services and small business solutions.  The company is disrupting the tax industry by providing consumers price transparency and with digital platforms such as Tax Pro GoSM. H&R Block believes the best solutions blend digital capabilities with human expertise and care. Source link ...

Read More
Business News

SEC Awards Whistleblower | STL.News

SEC Awards More Than $3.6 Million and $750,000 in Separate Whistleblower Washington, DC (STL.News) The Securities and Exchange Commission today announced two separate whistleblower awards for total payments of over $4.3 million. In the first order, the Commission awarded a whistleblower over $3.6 million for providing important information that alerted the Commission to misconduct occurring abroad.  The whistleblower provided substantial and ongoing assistance to enforcement staff, which included traveling to another country at the whistleblower’s own expense to meet with staff in person and providing extensive supporting documentation. In the second order, the Commission awarded $750,000 to a whistleblower who provided significant information that led the Commission to uncover an ongo...

Read More
Business News

Federal Reserve: FOMC statement | STL.News

Washington, DC (STL.News) The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world.  Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year.  Weaker demand and earlier declines in oil prices have been holding down consumer price inflation.  Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses. The path of the economy will depend significantly on the course of the ...

Read More
Business News

Regarding Viatris, Pfizer Common Stock

Pfizer announces details for when-issued and ex-distribution trading of Viatris and Pfizer common stock NEW YORK (STL.News) Pfizer Inc. (NYSE: PFE) announced today further details regarding the proposed spin-off of its Upjohn Business and the subsequent combination of Mylan and the Upjohn Business to form Viatris Inc.  As previously announced, Pfizer has set the close of business on November 13, 2020 as the record date for the spin-off, and the combination of Mylan and the Upjohn Business is expected to close on November 16, 2020. No action is required by Pfizer common stockholders to receive the distributed shares of Viatris common stock.  Pfizer stockholders who hold Pfizer common stock on the record date and do not sell those shares “regular-way” prior to the distribution date will ...

Read More