Of all the cases of economic espionage charged by the DOJ's National Security Division since 2012, more than 80% of them implicated China.World Politicsread more
"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
Cryptocurrency fans will hope the futures contracts, which are federally regulated, can provide some much-needed legitimacy to bitcoin.Cryptocurrencyread more
Despite mixed fan and critic reactions to the final season of "Game of Thrones," the eight-season epic took home the top prize in the drama category at the Emmy Awards on...Entertainmentread more
There are alternative financial centers and investors can turn to Singapore, Tokyo or Shanghai if Hong Kong doesn't "shape up," says the founder and chairman of Citic Capital.Asia Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
U.S. President Donald Trump's national security advisor said on Sunday that White House Asia policy adviser Matt Pottinger would become his top deputy.Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
(Recasts with top executives at capital markets day)
MILAN, June 4 (Reuters) - Italy's Autogrill, which runs restaurants and bars at airports, motorways and railways around the world, is looking at possible acquisitions in related sectors in the next few years, when it will have 1.5 billion euros for M&A.
Autogrill, controlled by the Benetton family, is interested in convenience stores and newly listed U.S. grab-and-go food retailer Hudson is "interesting", but the company is not up for sale, Autogrill CEO Gianmario Tondato Da Ruos said on Tuesday.
Tondato also said Paradies, owned by Lagardere, was an attractive convenience retail operator, but declined to say if the Italian company had any concrete deal under negotiation.
Presenting the group's financial targets for the 2019-2021 period, Tondato said the group wanted to more than double revenue in the convenience retail sector after some bolt-on acquisitions made in recent years.
"Sales coming from the convenience retail business will be around 200 million euros by the end of this year, we want to boost them to 500 million euros rapidly," the CEO said.
Autogrill, which has recently preferred smaller acquisitions over big mergers, entered the sector when it bought Stellar Partners and Avila in North America.
Other potential M&A targets could be found in the supply chain, logistics and, in general, services to travellers.
"It's no longer the usual (M&A) suspects, Elior etc, anymore, there is a wider world to look at," the CEO said.
He ruled out the possible listing of Autogrill's North American unit HMSHost to raise cash for the purchase of a large rival.
In its plan Autogrill sees revenue growing on average by 4.5-5% annually over the next three years to 2021.
The group said it would bet on airports and train stations to drive revenue, while further reducing its toll-road business after selling its Canadian motorway operations.
With a 2021 free cash flow expected to be five times that of 2018, Autogrill said it would have 1.5 billion euros to use for growth, in addition to 900 million euros in capex to be spent on the renewal of existing contracts.
"I appreciate the focus on cash generation and the target set by the company," said Alberto Checchinato, an analyst at brokerage house Fidentiis.
The stock fell nearly 2 percent by 1356 GMT as investors had been hoping for a more aggressive approach on acquisitions.
The group said it aimed to lift its underlying core profit margin, a measure of profitability, to around 10 percent of revenue in 2021 from below 9 percent last year.
Revenue is expected to reach 5 billion euros at the end of 2019, from 4.7 billion in 2018, driven by North America and the International channel, which includes Northern Europe and Asia.
Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) is seen at between 450 million and 470 million euros this year. (1 = 0.8885 euros) (Editing by Valentina Za, Louise Heavens and David Evans)