Coop Group cancels deal with Lloyds on the sale of the Verde Network. The Lloyd's Banking Group planned the sale of over 600 bank branches of the Cooperative Group, which has fell apart after the Cooperative Group decided not to proceed with the GBP750 million deal.
Industry
Citi Hires Former Deutsche Bank Heads
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.
Kawasaki Heavy Industries Accepts Merger Option
Kawasaki Heavy Industries is open for merger option but has not made formal moves despite report from Nikkei newspaper.
SDA Rates Cut by Bangko Sentral ng Pilipinas
SDA rates cut by Bangko Sentral ng Pilipinas to limit inflows and increase outflows. For the third time this year, the Philippines has cut rates it pays on special deposit accounts in an effort to curb capital inflows and prevent asset bubbles.
Infosys Openness Causing Dislocation
Infosys, the paragon of market guidance, has now experienced the shock of falling share values because of failed earnings expectations.
Latest News
There has been a solution reached by Romanian and Cypriot authorities for the local unit of the Bank of Cyprus.
Canada's Natural Resources Minister reiterated that only 'strategic' and under 'exceptional circumstances' would state backed enterprises be allowed to takeover in Canada.
Google's 4.4% increase helps S$P meet its averages in a dismal week. Earnings from Google buoyed a stock rise in technology shares last Friday. The gains from this market segment was unable to counteract the worst week in the S&P 500 since November.
Due to the lack of promised reforms, many investors are moving their investments from Russia to other countries.
Cathay Fortune said it would not support the plan of Discovery Metals to expand capitalization. The top shareholder in Discovery Metals Ltd, private equity firm Cathay Fortune Corp said it would not vote for the approval of the company's plan to increase capital funding.
As one of the most productive cities in the world, the one week terror lockdown has both economic and emotional scars on the proud city.
Russia extends help but conditions that help on "taking their interests into consideration."
The Trans Pacific Partnership Pact has invited Japan to join in the negotiations. Japan has been granted approval from participating countries to form part of the talks on the US initiated Asia Pacific Free Trade Agreement.
Nestle, L'Oreal and the Bettencourts chequered history in business. The present situation of L'Oreal and Nestle relationship "isn't on the agenda for the time being," commented Jean-Paul Agon, CEO of L'Oreal in an interview with Investir, a French weekly magazine, which was published today.
