london

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 …

See the rest here: 
China’s yuan trade system to open branches in London, New York

london

India’s Mallya says willing to reach ‘reasonable’ debt settlement: FT

Mallya, 60, flew first class from Delhi to London on March 2 at a time when the Indian government and mainly state-controlled banks are trying to recover $1.4 billion owed by his collapsed Kingfisher Airlines

Originally posted here: 
India’s Mallya says willing to reach ‘reasonable’ debt settlement: FT

london

SunEdison says in talks for potential bankruptcy financing

SunEdison, which is widely expected to file for bankruptcy soon, said it needed about $310 million to stay in business, estimating a cash shortfall of $260 million by mid-June. SunEdison said it expected to secure

The rest is here: 
SunEdison says in talks for potential bankruptcy financing

london

Despite pay revolt, BP shareholders sticking with Dudley

By Karolin Schaps LONDON (Reuters) – The future of Bob Dudley at the head of BP seems untarnished by shareholders' unusual rejection of his pay package as 99.6 percent of them also backed his re-appointment and trust him to lead the company through a…

Originally posted here: 
Despite pay revolt, BP shareholders sticking with Dudley

london

China’s Anbang abandons $14 billion bid to buy Starwood Hotels

China's Anbang Insurance Group Co said on Thursday it has abandoned its $14 billion bid for Starwood Hotels & Resorts Worldwide Inc , paving the way for Marriott International Inc to buy the Sheraton and Westin hotels operator. The surprise withdrawal marks an anticlimactic end to a bidding war that had pitted Marriott's ambitions to create the world's largest lodging company, with about 5,700 hotels, against Anbang's drive to create a vast portfolio of U.S. real estate assets. It also represents a blow…

Go here to read the rest:
China’s Anbang abandons $14 billion bid to buy Starwood Hotels

london

Argentina, creditors agree $155 million more in default settlement: mediator

Argentina settled with an additional 115 individual creditors holding defaulted sovereign bonds for $155 million, Daniel Pollack, the court-appointed mediator in the long-running case, said in a statement on Friday. Pollack's announcement brings the total amount of settlements agreed in principle with U.S. creditors above $6.5 billion and moves Latin America's No. 3 economy closer to ending a festering 14-year legal battled …

More: 
Argentina, creditors agree $155 million more in default settlement: mediator

london

BofA raises share buyback by up to $800 million

(Reuters) – Bank of America Corp said its board has authorized share repurchase of up to $800 million, in addition to the $4 billion share buyback announced earlier. The No. 2 U.S. bank by assets said the buyback was meant to offset the share count dilution resulting from equity incentive compensation awarded to retirement-eligible employees.

Go here to read the rest:
BofA raises share buyback by up to $800 million

london

Oil sets new 2016 highs on production freeze, demand bets

“Focus for now is firmly placed on a global macroeconomic environment that is propelling other industrial commodities such as the metals as well as world equities back to around highest levels since late last year,” said Jim Ritterbusch of Chicago-based energy markets consultancy Ritterbusch & Associates. It was on course to gain 6 percent on the week for a fifth straight week of gains. U.S. crude inventories hit a fifth straight week of record highs last week but the build of 1.3 million barrels was less than half …

Go here to read the rest: 
Oil sets new 2016 highs on production freeze, demand bets

london

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

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

london

Burberry faces U.S. lawsuit accusing it of deceptive price tags

LONDON (Reuters) – British luxury fashion brand Burberry is to face a class action lawsuit in the United States, claiming it used misleading price tags at its outlets stores to fool shoppers into believing they were getting big bargains. The company, which specifically manufactures some of the products for its outlet stores, is accused of intentionally presenting false price information on products that have never been sold in its retail stores to mislead

Read the original:
Burberry faces U.S. lawsuit accusing it of deceptive price tags

« Previous Page — Next Page »