Bloomberg One of the most senior bankers in India has an antidote for the nation’s yearlong credit crisis that is showing no signs of abating: seek monies from overseas investors. JPMorgan Chase &Co’s chairman for south and south-east Asia, Kalpana Morparia, is advising policy makers to tweak bankruptcy rules to let foreign portfolio managers throw a lifeline to the troubled …
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Bloomberg The new chief executive officer of Danske Bank A/S says he wants anyone with good ideas about how to run his firm to contact him. About 1 1/2 years after Danske was slammed by its financial regulator for having a culture that discouraged staff from speaking up, the bank is embracing transparency. Chris Vogelzang, a former ABN Amro banker …
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Bloomberg Khazanah Nasional Bhd has hired Morgan Stanley to explore strategic options for Malaysia Airlines Bhd, the nation’s loss-making flagship carrier, according to people familiar with the matter. The investment bank will be responsible for looking at options for the airline, including a potential stake sale, said the people who asked not to be named as the discussions are private. …
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Bloomberg Private equity firm Catalyst Capital Group Inc is offering to purchase up to C$150 million ($114 million) worth of shares of Hudson’s Bay Co as it builds a stake in the Canadian retailer in an effort to thwart a proposed takeover of the company. The Toronto-based firm said in a statementit was prepared to pay C$10.11 per share in …
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Bloomberg Boeing Co’s credit rating is at risk as the grounding of the company’s 737 Max jetliner drags into a fifth month, with Moody’s Investors Service joining Fitch Ratings in sounding a warning. The planemaker faces a $5 billion cash-flow drain this year as it continues to churn out aircraft it can’t deliver until regulators around the globe clear the …
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Bloomberg Lindt&Spruengli AG said its investments in the US market helped put sales of Russell Stover on track for their first annual rebound since the Swiss chocolate maker acquired the ailing brand five years ago. Russell Stover sales grew in the first half, the Kilchberg-based company said. New product introductions and demand for the label’s sugar-free stevia line boosted total …
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Bloomberg An uneasy alliance between airlines as they face down criticism over carbon emissions has collapsed into a high-profile dispute involving Europe’s biggest network carrier and largest discounter. Deutsche Lufthansa Chief Executive Officer CarstenSpohr lashed out at low-cost carriers including Ryanair Holdings in a Swiss newspaper, saying their loss-leading fares are stoking demand for needless flights that raise pollution and …
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BEIJING / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Xi Jinping, President of the People’s Republic of China, witnessed the signing of a number of agreements and memoranda of understanding (MoUs) between the two countries, spanning a series of sectors including defence, trade …
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BEIJING / WAM Dubai-based global developer Emaar will jointly implement with Beijing Daxing International Airport an AED40.5 billion ($11 billion) project including the five square kilometre land area of the 50 sq km airport. The move is in line with the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander …
Read More »Bloomberg Oil eased gains as traders digested conciliatory remarks by British authorities after Iran’s seizure of its oil tanker, amid heightened tensions in the region. Futures in New York added 2.2 percent before trading close to little changed. The UK demanded the immediate release of the Stena Impero, which was taken by Iran’s Revolutionary Guard Corps in the Strait of …
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