India’s UB Group denies Kingfisher loans funded offshore property
MUMBAI (Reuters) – Embattled Indian tycoon Vijay Mallya’s UB Group has denied allegations that it used 4.3 billion rupees ($65 million) of bank loans to now-defunct Kingfisher Airlines to buy property overseas.
How a boardroom feud left Brazilian steel giant on the brink
CUBATAO, Brazil (Reuters) – On a warm September morning in 2014, the 10-man board of Brazilian steelmaker Usiminas met on the ninth floor of a blue glass tower in Sao Paulo.
Chinese official calls Trump ‘irrational’ on trade
WASHINGTON (Reuters) – Chinese Finance Minister Lou Jiwei criticized Republican presidential front-runner Donald Trump, calling him “an irrational type” due to his proposal that tariffs on imported Chinese goods be increased to up to 45 percent.
UK economy faces permanent hit with Brexit: Osborne
LONDON (Reuters) – British finance minister George Osborne said a vote to leave the European Union in a referendum in June would do permanent damage to the country’s economy, which he warned would be 6 percent smaller by 2030 than if it stayed in the b…
Saudi-Iran tensions scupper deal to freeze oil output
DOHA (Reuters) – A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices.
Nail polish and mascara: beauty brands eye up Iran
DUBAI (Reuters) – When Dubai businesswoman Negin Fattahi-Dasmal opened the first branch of her luxurious nail salon chain in Iran this year, it was met with both excitement and scepticism among image-conscious young Iranians.
Greece considers proposal to unblock bailout review talks
ATHENS (Reuters) – Greece is considering adopting measures proposed by EU institutions now and agreeing to implement additional reforms if it misses its 2018 bailout targets, in an effort to unlock new bailout loans, a government official said on Sunda…
Japan’s SMBC Nikko sets up investment banking team in New York: CEO
TOKYO (Reuters) – Japan’s SMBC Nikko Securities, a unit of bank Sumitomo Mitsui Financial Group , is setting up a niche investment banking team in New York, its chief said, testing the waters of global finance just as domestic rival Nomura scales back….
Deutsche Boerse says Brexit is a risk for any U.S. suitors for LSE
BERLIN (Reuters) – A British vote to leave the European Union could be a threat to any rival bidder from the United States for the London Stock Exchange but would not undermine the planned $30 billion merger between Deutsche Boerse and LSE, the Germa…
Toyota, other major Japanese firms hit by quake damage, supply disruptions
TOKYO (Reuters) – Toyota Motor Corp , the world’s biggest-selling automaker, said on Sunday it would suspend much of its production at plants across Japan this week after earthquakes in the country’s south led to a shortage of parts, while some other m…
