Citi hires Ben Story, former head of Deutsche Bank. Former Deutsche Bank head Ben Story has been appointed by Citigroup to become head of UK Investment Banking and Brokerage.
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Glass Lewis Votes for Timken Co Break Up
Glass Lewis joins ISS in supporting the split of Timken into its bearings and steel businesses. Glass Lewis, the activist proxy advisory firm, had told its Timken Co shareholders that the non binding proposal to break up the company's ball bearings and steel business is a good move.
Lucozade and Ribena For Sale says GSK
GSK to sell off Lucozade and Ribena. GlaxoSmithKline (GSK) is going to sell its soft drink brands Ribena and Lucozade. The decision may result in GBP1.
Pre 2007 Debt Crisis Levels Seen
In a warning report, Reuters has found that debt issuances by companies have reached near 2007 levels.
Zalando Continues Growth Path
The fashion website Zalando continues in its growth path leaving the competition behind. German online retailer Zalando has announced that their firm would keep its focus in getting core markets to break a profit despite speculation that the fashion website would be listing itself by early 2014.
Latest News
Rwanda prices Eurobond offer capped at US$400 million. The Republic of Rwanda, with a rating of B/B has offered to the market a ten year Euro denominated bond with a reoffer price of Eur98.
Continental Grain Co has criticized the continuous reply of Smithfield Foods. One of the biggest shareholders in Smithfield Foods Inc, Continental Grain Co has urged the meat company to add three new directors to its existing board.
Arabtec has gained approval for the purchase of 45% of EFECO from its shareholders. Arabtec would be purchasing 45% of Emirates Falcon Electromechanical Co or EFECO shares that the Dubai based builder does not already own.
Emirates NBD has repaid its bailout funds in the amount of 3 billion UAE dinars. Dubai's largest financial institution, Emirates NBD has repaid for April the amount of 3 billion UAE Dinars or US$816.
At the opening of market trading, Vodafone shares increased in light of rumored buyout offer from Verizon.
IHSI shares are now publicly traded in OTC Bulletin Board. The board of Intelligent Highway Solutions Inc has announced that shares of stock under the ticker symbol IHSI has been traded publicly in the OTC Bulletin Board.
Kawasaki Heavy Industries is open for merger option but has not made formal moves despite report from Nikkei newspaper.
In a surprising move, Ramky Enviro has suspended the scheduled IPO citing 'tepid market conditions.'
Potash Corp of Sasketchewan has formally withdrawn its takeover bid over Israel Chemicals. The Potash Corp of Saskatchewan Inc has cancelled a proposed takeover bid for Israel Chemicals Ltd after criticism of the deal was made by workers and politicians alike.
