Regions

Silvio Berlusconi

Berlusconi says still looking for an investor in AC Milan

Italian media tycoon and former prime minister Silvio Berlusconi is still looking for a co-investor in AC Milan to help revive the fortunes of the Serie A soccer club which he has owned for nearly three decades.

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Chinese Yuan Notes

In China, P2P lenders offer some relief to small entrepreneurs

When Chinese flight booking operator Baitour needed cash to grow its business last year, it opted against using Industrial and Commercial Bank of China, its long-term lender and the world's largest bank, turning instead to Internet finance startup Jimu Box.

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Alibaba Group

Alibaba's latest gambit in fighting fakes: foster local brands

Criticized and even sued by luxury brand Gucci and others for facilitating the counterfeit goods trade, Chinese e-commerce giant Alibaba Group Holding Ltd has been quietly piloting a scheme to try to curb fakes at source.

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Li Keqiang (L) and Peru's President Ollanta Humala

China and Peru agree to study transcontinental rail link

China and Peru have agreed to study the feasibility of a controversial 5,300 km (3,300 miles) transcontinental railroad that will connect Peru's Pacific coast with Brazil's Atlantic coast, China's official Xinhua News Agency reported.

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Sergio Marchionne

Fiat Chrysler CEO approached GM about a merger, was rebuffed: NYT

As part of his quest for a mega merger, Fiat Chrysler Automobiles Chief Executive Sergio Marchionne sent an email to General Motors Co Chief Executive Officer Mary Barra in March suggesting combining the automakers but was rebuffed, the New York Times reported on Saturday.

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Daimler

Daimler and Qualcomm to develop in-car tech, wireless charging

Carmaker Daimler on Saturday announced a partnership with mobile technologies company Qualcomm Inc. to explore wireless recharging of mobile phones in cars as well as recharging of electric cars without cables.

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Michel Sapin with Wolfgang Schaeuble (R)

G7 finance ministers to address faltering global growth

Finance ministers from the world's largest developed economies meet in Germany this week against a backdrop of faltering global growth, scant inflationary pressures and a bond market in turmoil.

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Pollution

Beijing promises coal-free power by 2017 to fight pollution

Beijing will build four gas-fired power and heating plants by next year and shut the last of its coal-fired generators by 2017 as part of its campaign against hazardous air pollution, officials said.

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Bijan Zanganeh

Iran says OPEC unlikely to change output ceiling: Mehr news agency

OPEC is unlikely to change its production ceiling when the group meets in June, Iran's Oil Minister Bijan Zanganeh said on Sunday, according to the semi-official Mehr news agency.

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Dmitry Medvedev

Russia to adopt tough position if Ukraine defaults: PM Medvedev

Russia would adopt a tough position if Ukraine decided not to pay off debts owed to Moscow by its previous government, Russian Prime Minister Dmitry Medvedev said in an interview broadcast by Russian TV on Saturday.

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Thailand

Thailand passes first inheritance tax to raise revenue in lackluster economy

Thailand's military government has passed the country's first inheritance tax bill, as part of tax reforms to broaden the tax base and boost revenue in a lackluster economy.

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Mario Draghi

ECB's Draghi urges euro zone to unite for economic reform

European Central Bank President Mario Draghi has urged euro zone countries to unite in the task of reforming the bloc's economies, saying sharing sovereignty was an opportunity and not a threat.

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Union Flag and the European Flag

Bank of England confirms EU exit research after email misfire

The Bank of England plans to assess the implications of a possible British exit from the European Union, it said in a statement, confirming an email it inadvertently sent to a newspaper about the supposedly confidential research project.

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ITC office

Cigarette maker ITC misses profit estimates

India's largest cigarette maker, reported a lower-than-expected quarterly profit as higher taxes on smokes and a government push to discourage tobacco consumption hurt business.

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State Bank of India

India's top bank SBI says bad loan pressure easing

State Bank of India, the nation's top lender by assets, posted better-than-expected quarterly bad debt levels on Friday and said it now expected an improvement, a long-awaited sign of easing pressure that helped its shares jump over five percent.

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