German real estate company Deutsche Euroshop is aiming for double-digit growth in annual earnings before interest and tax (EBIT) to 2012, its chief executive was quoted as saying.
Swiss bank UBS AG is confident the 287 million pound ($560 million) rights issue it is underwriting for British mortgage lender Paragon will be successful, a source close to the bank said on Monday.
Walt Disney Co has reached a deal to more than double its stake in Indian TV and movie content maker UTV, the two firms said, underscoring the U.S. entertainment firm's efforts to expand globally.
British Prime Minister Gordon Brown has said that the decision to nationalise Northern Rock was the right move at the right time for the right reasons. Brown was speaking at a Downing Street briefing, after the news broke on Sunday that the struggling mortgage lender would be nationalized.
British Prime Minister Gordon Brown defended his reputation for sound economic management on Monday in the face of mounting criticism over his decision to nationalize ailing bank Northern Rock after lending it 25 billion pounds ($49 billion). Brown helped transform the Labour Party in the 1990s by ditching an attachment to state ownership.
French bank Societe Generale, at the centre of a huge trading scandal, began investigating trades executed by Jerome Kerviel months before his activities were exposed in January, the Financial Times reported.
British Prime Minister Gordon Brown faced a political and public backlash on Monday after his decision to take ailing bank Northern Rock Plc into public ownership, the first UK nationalization since the 1970s.
Following the integration of Tata Group's five telecommunication subsidiaries - VSNL, VSNL International, Teleglobe, Tata Indicom Enterprise Business Unit and Cipris - under the Tata Communications brand name, Tata Communications has announced that it will inject $2 billion over the next three years to fuel its global expansion plans with specific focus on the new world of IP, MPLS, Ethernet, and managed services.
China Petroleum & Chemical Corp. said on Sunday that it will sell 30 billion yuan ($4.2 billion) of bonds to fund spending for building a cross-country pipeline and ethylene plants, according to a report.
The U.K. government will nationalize Northern Rock Plc bank after a bid by Virgin Group Ltd. was rejected, Chancellor of the Exchequer Alistair Darling said today. The government did not select either of two bids by a Virgin consortium and an in-house proposal.
Could a series of bleak economic reports signal recession?
Continental Airlines, which is currently in talks to combine with the parent company of United Airlines, is also discussing options with the parent of American Airlines, according to a report.
Wall Street investment banks, stung by debt losses, have cut tens of thousands of jobs, but even more significant cuts are coming in the months ahead amid a bleaker earnings outlook.
The world's largest banks could see more than $200 billion more in additional write downs, depending on the outcome for troubled bond insurers.
Lactalis McLelland has admitted its role in a diary price fixing scandal in which top supermarket chains and diary producers stand accused of colluding to fix the retail price diary products.
India's Tata Capital and Japan's Mizuho Securities Co Ltd have signed an initial deal to jointly offer financial services such as investment banking, private equity, broking and wealth management.
Swiss bank UBS could face billions of dollars more in subprime-related write-downs in 2008, which could tip it into a second year of losses, analysts warned investors, sending its shares tumbling again. Some said UBS might be only halfway through clearing the debris from the subprime loan disaster that has already saddled it with $18 billion in charges in 2007.
Signs of economic slowdown in the US and rupee appreciation notwithstanding, the National Association of Software and Services Companies (Nasscom), the consortium that serves as the apex body of the Indian IT software and BPO industry said that India's IT-BPO industry is poised to achieve the target of $75 billion in overall software and services revenues by 2010.
Disneyland Resort will later this week partner with Microsoft, software provider Lifeware and home builder Taylor Marrison to create an attraction featuring digital home technologies of the future.
For the past eight years, Wal-Mart Stores Inc's shareholders have had little reason to beam like the retailer's well-known smiley face image, as stock prices have dropped and the company has underperformed rivals like Target Corp.
But the gloom may be finally lifting -- ironically thanks in part to the U.S. economy's increasing troubles.
Swiss bank UBS has revealed $26.6 billion in exposure to risky U.S. mortgages distinct from subprime loans, increasing its vulnerability to the global credit crisis and sending its shares sharply lower. The newly unveiled exposure was for so-called Alt-A mortgages, which are of higher quality than subprime loans but also considered risky.
Yahoo Inc is in talks on a possible deal with News Corp, but analysts said an alternative was unlikely to emerge to rival Microsoft Corp's bid for Yahoo, now valued at $42.1 billion. News of the talks to combine their Web properties may involve a cash infusion from Rupert Murdoch's News Corp and an unnamed private equity fund.
Emboldened by public sector banks, State Bank of India (SBI) and Canara Bank's move of slashing prime lending rate (PLR) by 0.25 percent, India's Finance Minister P. Chidambaram has urged other state-run banks to follow suit to ensure that productive sectors of the economy are not starved of credit.
One of the world's largest manufacturer of optical and magnetic storage, New Delhi-based Moser Baer India is set to invest over $1.7 billion (Rs.6900 crore) in expanding its thin film photovoltaic (PV) capacity by 565 megawatt (MW).
US and Australia started talks on Tuesday, in Washington, in an effort to provide cheaper flights across the trans-pacific route.
The United Nations World Food Programme (WFP) has joined forces with Vodafone to work on a standard telecommunications system for aid agencies around the world to improve logistics and response times to disasters.
Two suitors competing to rescue British bank Northern Rock have been told to improve their offers to beat the alternative of nationalization, sources familiar with the matter said. The Virgin consortium, though, has been picked as a front-runner, ahead of a rival in-house proposal led by the mortgage bank's current management team, the sources said.
Sumitomo Heavy Industries Ltd, a Japanese integrated manufacturer, announced on Monday that it would buy Axcelis Technologies Inc., a U.S. chipmaking equipment manufacturer, for about 544 million dollars.
Yahoo increased its list of carrier partners on Tuesday when it announced a partnership with T-Mobile, an international carrier that is likely to make Yahoo oneSearch the exclusive search engine in T-Mobile's 11 European markets.
General Motors Corp will offer buyouts or early retirements to all 74,000 U.S. hourly workers represented by the United Auto Workers in a sweeping deal with the union intended to clear the way for GM to hire lower-cost replacements.
