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Exiled tycoon Mallya: India wrong to sequester some assets in graft case

Exiled tycoon Vijay Mallya said on Sunday that Indian authorities trying to recover about $1.4 billion from his collapsed Kingfisher Airlines had no legal grounds for sequestering certain assets in a money laundering case. The Enforcement Directorate (ED) tweeted on Saturday that it had “attached” properties worth 14.11 billion Indian rupees ($210.78 million) in the case involving a loan from state-owned IDBI Bank

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Exiled tycoon Mallya: India wrong to sequester some assets in graft case

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China’s yuan trade system to open branches in London, New York

China's state-owned currency marketplace said on Sunday it was preparing to open branches in London and New York as part of efforts to promote the yuan's global status. The China Foreign Exchange Trade System (CFETS), a subsidiary of China's central bank, said in a statement that by expanding its network offshore, it aims to serve more overseas institutions and become a “main trading platform and pricing center” for the yuan globally. China has been gradually loosening its capital controls to allow …

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China’s yuan trade system to open branches in London, New York

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Fed seen holding rates this week with hike still on horizon

By Jonathan Spicer and Ann Saphir NEW YORK/SAN FRANCISCO (Reuters) – U.S. Federal Reserve policymakers are expected to hold interest rates steady when they meet this week, but may tweak their description of the economic outlook to reflect more benign conditions, leaving the path open for future rate rises. The Fed raised its policy interest rate last December for the first time in a decade when market volatility finally subsided in the wake of a scare over China's economy. Similarly early …

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Fed seen holding rates this week with hike still on horizon

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McDonald’s targeting buyout firms as it seeks to sell North Asia stores

McDonald's Corp is targeting private equity firms, including Bain Capital, MBK Partners, TPG Capital Management and Chinese state-backed conglomerate China Resources (Holdings) for its planned sale of 2,800 restaurants in North Asia, people familiar with the matter told Reuters. The U.S. fast food giant is adopting a new business model in Asia, which is now the most intense battleground for global restaurant …

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McDonald’s targeting buyout firms as it seeks to sell North Asia stores

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China factories scent hint of spring, Europe still chilly

By Jonathan Cable and Wayne Cole LONDON/SYDNEY (Reuters) – Activity in China's vast factory sector grew for the first time in nine months during March to bring a hint of spring to the global economy, although growth remained weak in …

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China factories scent hint of spring, Europe still chilly

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IHS to buy data provider Markit, combined company to base in UK

U.S.-based IHS Inc agreed to buy Markit Ltd to create a $13 billion London-based data and business research provider, in the latest example of a U.S. company moving its domicile overseas where corporate …

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IHS to buy data provider Markit, combined company to base in UK

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Smaller iPhone expected as Apple faces drop in phone sales

By Julia Love CUPERTINO, Calif. (Reuters) – Apple Inc is expected to launch a smaller, cheaper iPhone on Monday aimed at emerging markets and possibly China, the world's biggest buyer of smartphones, as it looks to reverse a decline in worldwide sales of its most important product. The launch of such a phone – expected to be called the iPhone SE – would represent Apple's second bid for the crowded mid-tier market after an unsuccessful foray three …

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Smaller iPhone expected as Apple faces drop in phone sales

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Sheraton owner Starwood set to accept offer from China’s Anbang

A successful deal would bolster Anbang's reputation as one of China's top corporate acquirers and would follow its purchase of New York's iconic Waldorf Astoria hotel last

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Sheraton owner Starwood set to accept offer from China’s Anbang

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China’s Anbang challenges Marriott with $13 billion Starwood offer

The non-binding bid, unveiled on Monday, just days after Anbang agreed to acquire Strategic Hotels & Resorts Inc from buyout firm Blackstone Group LP for $6.5 billion, would represent by far the biggest Chinese investment in U.S. real estate assets. The head of China's insurance regulator, Xiang Junbo, wrote in January in a magazine published by the country's central bank that Chinese insurers should venture overseas for investments. Anbang's $2 billion acquisition…

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China’s Anbang challenges Marriott with $13 billion Starwood offer

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China’s PBOC flags stimulus restraint but says policy should be flexible

By Xiaoyi Shao and Kevin Yao BEIJING (Reuters) – China's central bank won't resort to excessive stimulus to bolster growth but will keep a flexible stance in the event of an economic shock – domestic or global, Governor Zhou Xiaochuan said while reiterating the authority's prudent monetary policy. Under the banner of prudent policy, the Chinese central bank has cut interest rates six times since November 2014 and has also reduced the amount of …

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China’s PBOC flags stimulus restraint but says policy should be flexible

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