Nokia is to sell its luxury subsidiary Vertu, as the Finnish handset manufacturer overhauls its business in an effort to compete with other smartphone makers, the Financial Times reported on Thursday.
Private equity firms, facing shrinking asset values and tough financing conditions, are trimming staff in mature markets, but are also looking to hire in growth areas so that they deliver the returns investors seek.
France and Germany are to sound out conservative European leaders on Thursday about their plan to defuse the euro zone's debt crisis, eager to rally support before a high-stakes EU summit.
The Obama administration said on Wednesday it will keep the pressure on two big U.S. banks to help more troubled borrowers from losing their homes by withholding payments to the banks under a foreclosure-prevention program for the third straight quarter.
Pessimistic comments from EU paymaster Germany and new figures exposing deepening stress among Europe's banks dented financial market hopes of a turning point in the euro zone's debt crisis at a summit this week.
Hopes the euro zone will figure out a solution to its ongoing debt crisis inspired enough buying to push stocks to a third day of gains on Wednesday in light trading.
The Obama administration said on Wednesday it will keep the pressure on two big banks to help ease the foreclosure crisis, withholding payments to them under a foreclosure relief program.
Italy's new Prime Minister Mario Monti, trying to push through a tough austerity package he says is vital for the country's financial salvation, faced two calls for national strikes and saw a dip in his public support on Wednesday.
Stocks were little changed in choppy, light trading on Wednesday as investors weighed high expectations about an upcoming euro zone summit against headline-driven selling.
Treasury Secretary Timothy Geithner spoke with ECB President Mario Draghi and IMF Managing Director Christine Lagarde by telephone on Wednesday during a whirlwind round of diplomacy ahead of an EU summit, a U.S. Treasury official said.
Stocks were little changed in choppy, light trading on Wednesday as investors weighed high expectations about an upcoming euro zone summit against headline-driven selling.
Citigroup began a round of layoffs among its London-based investment bankers this week, with jobs in advisory, equities and fixed income set to go as the bank readies 4,500 redundancies worldwide.
France and Germany want a new EU framework to speed up progress towards a common corporate tax base and a financial transaction tax as well as convergence of financial regulation and labor market policies, a Franco-German letter sent on Wednesday to European Council President Herman Van Rompuy showed.
Deutsche Boerse AG and NYSE Euronext could spin off parts of their derivatives arms to create a third-party competitor as a way to allay anti-trust concerns about their $9 billion merger, two sources familiar with the Boerse's thinking said.
Applications for U.S. home mortgages jumped last week, recouping the previous week's steep decline as interest rates continued to fall, an industry group said on Wednesday.
Stocks fell on Wednesday with investors on edge ahead of a summit to hammer out a plan to combat the euro zone debt crisis and finding few reasons to continue buying after two days of gains.
U.S. banks want regulators to give them more time to liquidate investments in certain private equity funds under the Volcker rule, arguing that without more leeway they will have to hold fire sales.
Stocks index futures pointed to slight losses at the open on Wednesday as investors found little reason to keep buying after two gains of gains and ahead of a European summit on the region's debt crisis.
Stocks index futures were little changed on Wednesday after two days of gains as investors waited to see if European officials can craft a plan to combat the region's debt crisis at a summit this week.
Stock index futures rose on Wednesday as optimism continued to grow that European Union leaders would craft bold measures to combat the region's debt crisis at a summit this week.
The Shanghai municipal government unveiled a plan on Wednesday that will create incentives for foreign private equity and venture capital funds to invest in early-stage technology companies in the city.
Stock index futures pointed to a higher open for equities on Wall Street on Wednesday, with futures for the S&P 500, the Dow Jones and Nasdaq 100 up 0.6-0.8 percent.
Growing optimism that euro zone leaders are on track to produce a confidence-boosting package of measures to solve the debt crisis at Friday's summit lifted risk appetite on Wednesday, with the euro and global equity markets posting gains.
U.S. department store chain J.C. Penney Co Inc is to buy a 16.6 percent stake in Martha Stewart Living Omnimedia Inc for $38.5 million, the New York Times said, citing people briefed on the matter.
Ten years ago, foreign insurers were lining up to celebrate China's entry into the World Trade Organization, eager to tap what was certain to become the world's next big insurance frontier.
Treasury Secretary Timothy Geithner meets French President Nicolas Sarkozy in Paris on Wednesday to press for decisive steps towards resolving Europe's deepening debt crisis as the region's leaders prepare for a crucial summit this week.
China's annual rate of export growth slowed in November versus October, Vice Commerce Minister Chong Quan said on Wednesday, confirming market expectations that deteriorating external conditions are dragging on the world's No. 2 economy.
China's annual rate of export growth slowed in November versus October, vice commerce minister Chong Quan told reporters on Wednesday, confirming market expectations that deteriorating external conditions are dragging on the world's No. 2 economy.
Asian shares and the euro gained on Wednesday on hopes that the threat of mass credit rating downgrades will pressure European leaders to come up with a convincing framework for resolving the euro zone debt crisis at a crucial summit later this week.
China's annual rate of export growth slowed in November versus October, vice commerce minister Chong Quan told reporters on Wednesday after an official media briefing.
