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Lloyds (NYSE:LYG) is said to be looking to jettison a portfolio of toxic assets, worth about 1 billion pounds, that it acquired due to its rescue deal with HBOS during the 2008 financial crisis; several bidders including private equity and vulture firms are said to be interested in ‘Project Lundy,’ as the portfolio is known.
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With yogurt sales rising at a fast clip of 9 percent this year, following a 7.5 percent growth last year, PepsiCo (NYSE:PEP) plans to make a foray into this market in a few Northeastern states through a joint venture arrangement with German company Theo Muller, taking on entrenched rivals Dannon (DANOY) and Yoplait (NYSE:GIS).
Strong sales at Tata Motors’ (NYSE:TTM) Jaguar Land Rover unit have led S&P to lift the automaker’s long term credit rating with a positive rating; S&P may further improve the rating if Tata is able to lower its debt-to-operating profit ratio below 2.5.
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