China vows to contain corporate debt levels as inflation heats up
BEIJING (Reuters) – China vowed on Tuesday to contain high company debt levels and further cut excess coal and steel capacity, as Beijing attempts to maintain solid and more balanced economic growth while avoiding destabilizing asset bubbles.
Valeant to sell assets for $2.12 billion to ease debt load
(Reuters) – Valeant Pharmaceuticals International is selling its Dendreon cancer business and three skincare brands for about $2.12 billion as the troubled Canadian drugmaker looks to pay down its more than $30 billion debt.
China’s WeChat seeks slice of Apple’s app store with ‘mini’ function
BEIJING (Reuters) – China’s largest mobile social media network WeChat is offering its 768 million users a function which allows them to by-pass app stores such as Apple’s .
Italy looking at Google proposal to close tax dispute: source
MILAN (Reuters) – Italy’s tax authorities are looking at a proposal from Google to pay between 270 million and 280 million euros ($296 million) to wrap up a tax dispute, a source close to the matter said on Tuesday.
Trump’s Commerce pick Wilbur Ross is no stranger to protectionism
WASHINGTON (Reuters) – When billionaire investor Wilbur Ross salvaged two North Carolina textile mills from bankruptcy in 2003 and 2004, one of the first things he did was head to Washington to immerse himself in trade law and policy.
London banks’ Brexit battle heads to Europe
LONDON (Reuters) – Banks with large London operations say they will step up lobbying European officials because they are running out of arguments to convince the British government the industry needs single market access after Britain leaves the Europe…
Toshiba asks creditors not to call in loans: sources
TOKYO (Reuters) – Toshiba Corp met creditors on Tuesday and asked them not to use provisions in debt agreements to call in their loans early, giving the troubled company time to work out a turnaround plan, sources with knowledge of the matter said.
Citigroup may benefit less from tax cuts than other U.S. banks
NEW YORK (Reuters) – Citigroup Inc stands to get less of a profit boost than other big U.S. banks from lower corporate tax rates expected from the new government in Washington.
VW’s Skoda Auto boosts 2016 deliveries to record 1.13 million cars
PRAGUE (Reuters) – Skoda Auto, the Czech unit of carmaker Volkswagen, raised global deliveries by 6.8 percent to a record 1.13 million cars in 2016, lifted by rising sales in Europe and China, the company said on Tuesday.
ChemChina, Syngenta submit remedy proposals to EU antitrust watchdog
BEIJING/HONG KONG (Reuters) – China National Chemical Corp (ChemChina) [CNNCC.UL] and Swiss pesticides and seeds group Syngenta AG have proposed remedies to the European Union’s competition watchdog to address concerns over their $43 billion merger ag…
