South Korean banking giant KB Financial Group (105560.SE)’s directors Wednesday postponed its discussion on whether to approve the plan to buy the Korean life insurance operations of ING Groep N.V.
Source: Fox Business Headlines
Category Archives: Business, Finance, Occupation & Industry
ADM Raises Offer to Buy GrainCorp By 3.8% to A$2.8 Billion
Archer Daniels Midland Co. (ADM) has sweetened its takeover bid for Australia’s GrainCorp Ltd. (GNC.AU) by 3.8%, a deal that now values the wheat exporter at about A$2.8 billion.
Source: Fox Business Headlines
Tesco set to call time on costly U.S. adventure
Tesco Plc is set to end its five-year attempt to crack the cut-throat U.S. grocery market and will focus instead on its struggling home business and faster-growing emerging markets.
Source: Fox Business Headlines
Small UK firms want government to boost retail investment: survey
Britain’s small- and medium-sized companies (SMEs) believe the government should do more to encourage members of the public to invest in their businesses, a survey showed on Wednesday.
Source: Fox Business Headlines
EU air passenger numbers down 1.3 percent in October: airports body
Passenger numbers at EU airports fell by 1.3 percent in October compared with a year earlier, marking the first monthly decline in both passenger and freight traffic since 2009, airports body ACI Europe said.
Source: Fox Business Headlines
Euro zone retail sales fall sharply in October
Shoppers in the euro zone cut back on spending by the biggest margin in six months in October, economizing on everything from clothes to medical goods and offering little hope of a consumer-led recovery from recession.
Source: Fox Business Headlines
PIMCO makes it easier for shareholders to nominate directors
PIMCO is making it easier for shareholders to nominate trustees to the board that oversees star manager Bill Gross‘s giant bond fund and dozens of other offerings, drawing praise from analysts and academics concerned about fund oversight.
Source: Fox Business Headlines
MARKET SNAPSHOT: U.S. Stocks Mixed Awaiting Fiscal-cliff News
U.S. stocks opened mixed on Wednesday after a two-session retreat as Wall Street continued to offer little reaction to economic data while waiting for resolution to the fiscal cliff.
Source: Fox Business Headlines
Citigroup to Eliminate 11,000 Jobs; Takes $1 Billion 4th-Quarter Pretax Charge
Citigroup Inc. (C) said Wednesday it will eliminate 11,000 jobs, or about 4% of its workforce, and take a related $1 billion fourth-quarter charge.
Source: Fox Business Headlines
Starbucks CEO says company done with deals for now
Starbucks Corp has no plans for further acquisitions at the moment after a spate of recent deals, Chief Executive Howard Schultz said on Wednesday.
Source: Fox Business Headlines
Lukoil To Spend $600 Million Drilling 5 Wells In Africa In 2013
OAO Lukoil Holdings (LKOH.RS) will drill five wells in Africa next year at a cost of $600 million, a senior company executive said Wednesday on the sidelines of the Energy Intelligence conference in Moscow.
Source: Fox Business Headlines
Rosneft Holds Talks With China
Russian oil giant Rosneft (ROSN.RS) held talks with China Tuesday to discuss details over the construction and operation of Chinese-Russian Eastern Petrochemical Company.
Source: Fox Business Headlines
ING Agrees to Cut Korea Operations Sale Price to KB Financial to $2.1 Billion -Sources
South Korean banking giant KB Financial Group (105560.SE), which has been in exclusive talks to buy Korean life insurance operations from ING Groep N.V.
Source: Fox Business Headlines
Fed Holds Lenders’ Feet to the Fire on Mortgages
Frustrated Federal Reserve policymakers want an explanation from mortgage lenders as to why the benefits of lower interest rates were not filtering to home buyers as quickly as in the past even as investors benefited.
Source: Fox Business Headlines
Canada Monetary Reserves Up $169 Million in November from October
Canada’s official international reserves rose $169 million in November, the federal Finance Department reported.
Source: Fox Business Headlines
Banco do Brasil To Post One-Time Gain Worth BRL706 Million
State-run Banco do Brasil SA (BDORY, BBAS3.BR), said Wednesday that it expects to post an one-time gain worth 706 million Brazilian reais ($336 million) after it completed the sale of its bonds backed with its properties assets.
Source: Fox Business Headlines
Tesco launches strategic review of U.S. chain
Britain’s Tesco, the world’s No.
Source: Fox Business Headlines
Spain Deposit Guarantee Fund May Invest in Bad Bank -Report
Spain’s deposit guarantee fund may invest in the country’s so-called bad bank, Expansion reports, citing people close to the situation.
Source: Fox Business Headlines
Bayer Gets EU Green Light to Market Jaydess Contraceptive
German chemical and pharmaceutical company Bayer AG (BAYN.XE) said Wednesday it has received the green light in Europe to market its new long-term contraceptive dubbed Jaydess.
Source: Fox Business Headlines
EU imposes record $1.92 billion cartel fine on Philips, five others
Philips, LG Electronics, Samsung SDI and three other firms were fined a record 1.47 billion euros ($1.92 billion) by EU antitrust regulators for fixing prices of TV and monitor cathode-ray tubes for nearly a decade.
Source: Fox Business Headlines