HSBC to shake up global banking business to cut costs
LONDON (Reuters) – HSBC is to restructure its global banking division to cut costs and make the business more “agile”, according to an internal memo seen by Reuters on Monday.
Hotel Lotte duty free arm defends practices amid bribery probe
SEOUL (Reuters) – Hotel Lotte Co Ltd’s duty free division said on Monday it chooses the products it sells “fairly and objectively” – responding to a bribery investigation that has delayed a roadshow for the South Korean company’s $4.9 billion IPO.
Oracle whistleblower suit raises questions over cloud accounting
SAN FRANCISCO (Reuters) – A whistleblower lawsuit filed against Oracle Corp over its accounting practices underscores the pressures established computer companies face to show that they are growing in the fast-moving business known as the cloud.
Exclusive: NY Fed first rejected cyber-heist transfers, then moved $81 million
DHAKA/NEW YORK (Reuters) – Hours before the Federal Reserve Bank of New York approved four fraudulent requests to send $81 million from a Bangladesh Bank account to cyber thieves, the Fed branch blocked those same requests because they lacked informati…
BlackRock’s $2.5 billion sale: a sign of life for Singapore’s office market
SINGAPORE (Reuters) – BlackRock Inc said it would sell a 43-storey Singapore office tower for $2.5 billion – one of at least three office building deals in the last two months for a market gripped by worries about oversupply and rising vacancies.
Rosengren flags jobs report, yet says Fed rate hikes coming
HELSINKI (Reuters) – The U.S. economy’s rebound from a weak winter has moved the Federal Reserve closer to raising rates, though last month’s poor employment report might give it pause, a top Fed official said on Monday.
Global stocks rise as weaker dollar lifts copper, oil
LONDON (Reuters) – Shares rose in Europe and Asia on Monday, helped by commodity stocks as the dollar held close to more than three-week lows hit after surprisingly weak jobs data led investors to rule out a rise in U.S. interest rates this month.
‘Cable Cowboy’ Malone weighs his next move in Europe
LONDON (Reuters) – A generation after “Cable Cowboy” John Malone transformed the pay-TV sector in the United States, he is back in the spotlight — this time in Europe, where he is plotting a role in the consolidation of the British telecoms market.
For some British firms, red tape spreads from London, not Brussels
SITTINGBOURNE, England (Reuters) – Troy Barratt, a small business owner in this southeastern English town, has a list of labor, energy and safety regulations that add to the costs of his precision metal fabrication firm.
Spain’s auto-pilot economy flies high above political turmoil
JABUGO, Spain (Reuters) – In Spain’s cured ham capital, the small southern village of Jabugo, uncertainty over who will govern next in Madrid is a remote concern for investors keen to produce more of the Andalusian delicacy.
