Battle lines forming for Tata legal showdown
NEW DELHI/MUMBAI (Reuters) – As India’s biggest corporate showdown heads from the boardroom to the courtroom and brings in a Who’s Who of the country’s legal profession, ousted Tata Sons chairman Cyrus Mistry vows a multi-layered battle for governance …
U.S. home prices rise year-over-year in line with forecast
NEW YORK (Reuters) – U.S. single-family home price increases accelerated modestly in October, in line with expectations, but rising mortgage rates in recent weeks could pose a risk for the sustainability of the gains, a survey showed on Tuesday.
Oil edges further above $55 ahead of supply cut deal
LONDON (Reuters) – Oil edged further above $55 a barrel on Tuesday, drawing support from expectations of tighter supply once the first output cut deal between OPEC and non-OPEC producers in 15 years takes effect on Sunday.
Italy set to pump around 6.5 billion euros into Monte Paschi rescue: sources
ROME/MILAN (Reuters) – The Italian government is likely to put in around 6.5 billion euros ($6.8 billion) to rescue the country’s third biggest lender Monte dei Paschi di Siena , more than initially expected, sources close to the matter said on Tuesday…
Global diamond business roiled as cash crunch hits Indian stone cutting
SURAT, India/TORONTO (Reuters) – The global diamond industry is facing disruption that could stretch through the first few months of next year, including Valentine’s Day in February, as a result of Indian Prime Minister Narendra Modi’s radical move to …
Global stocks inch higher in holiday lull
LONDON (Reuters) – European and Asian share prices inched higher on Tuesday as trading in some of the world’s major financial markets resumed after a Christmas break, with oil and the dollar also rising marginally.
Exclusive: Tepco, investors discussing first bond sale since Fukushima – sources
TOKYO (Reuters) – Tokyo Electric Power (Tepco) is gauging demand for its first bond offering since the 2011 Fukushima nuclear calamity, with some market participants expecting a sale as early as February, people familiar with the plans said.
China’s cabinet names Harvard graduate as central bank vice governor
BEIJING (Reuters) – China appointed Yin Yong, a Harvard-educated official, on Tuesday as a vice governor of the People’s Bank of China, replacing Guo Qingping.
ECB tells Monte dei Paschi it needs to raise $9.2 billion
MILAN (Reuters) – The European Central Bank has told Monte dei Paschi it needs to plug a capital shortfall of 8.8 billion euros ($9.2 billion), higher than a previous 5 billion euro gap estimated by the bank, the lender said on Monday, confirming what …
How JPMorgan could not save Italy’s problem bank
MILAN/LONDON (Reuters) – On the morning of July 29, former Italian Industry Minister Corrado Passera was traveling in a high-speed train toward the medieval city of Siena, racing to meet the directors of the world’s oldest bank to present them with a r…
