Tata Steel UK suitor to start due diligence in around 10 days
MUMBAI (Reuters) – Liberty House Group will start due diligence within a week from Monday on the loss-making UK assets that Tata Steel has put up for sale, its boss Sanjeev Gupta said, adding he was confident of turning the business around with governm…
Swiss police raid UEFA as Panama Papers scandal spreads
ZURICH/REYKJAVIK, (Reuters) – Swiss police raided the European soccer body UEFA on Wednesday to seize information about a contract disclosed in the Panama Papers that was signed by Gianni Infantino, now head of the global soccer body FIFA.
Malaysia parliament report calls for probe into 1MDB
KUALA LUMPUR (Reuters) – A Malaysian parliamentary inquiry on Thursday slammed the board of state fund 1MDB for being irresponsible and urged a probe into its former chief, but stopped short of implicating Prime Minister Najib Razak who was an advisor …
Geneva prosecutor opens inquiry linked to Panama Papers: Swiss media
GENEVA (Reuters) – The Geneva prosecutor said on Thursday he had launched a criminal inquiry in connection with the Panama Papers, which revealed the use of offshore companies, including many set up by lawyers and financial institutions in the Swiss ci…
Mega deals morph into mega problems for Wall Street
NEW YORK/LONDON (Reuters) – If 2015 was a dream year for Wall Street’s top dealmakers, 2016 is starting to take a nightmarish turn.
Fed signals caution on rate hikes, worried by global growth: minutes
WASHINGTON (Reuters) – The Federal Reserve appears unlikely to raise interest rates before June amid widespread concern at the U.S. central bank over its limited ability to counter the blow of a global economic slowdown, minutes from the Fed’s March 15…
SunEdison setback may delay Modi’s ‘ultra mega’ solar drive in India
MUMBAI (Reuters) – The likely collapse of SunEdison Inc’s solar project in India, the first of 32 planned “ultra mega” complexes, could delay Prime Minister Narendra Modi’s goal to increase renewable energy fivefold by several years and probably cost c…
Pfizer, Allergan scrap $160 billion deal after U.S. tax rule change
(Reuters) – U.S. drugmaker Pfizer Inc and Ireland-based Allergan Plc walked away from their $160 billion merger on Wednesday, a major win for President Barack Obama, who has been pushing to curb deals in which companies move overseas to cut taxes.
Yahoo expects 2016 revenue to drop about 15 percent: Re/code
(Reuters) – Yahoo Inc expects a sharp decline in both its revenue and earnings this year compared with 2015, with revenue seen falling nearly 15 percent and earnings over 20 percent, Re/code reported on Wednesday, citing a Yahoo document.
Wall Street rises with healthcare; oil rallies
(Reuters) – U.S. stocks jumped on Wednesday, bolstered by gains in healthcare shares after the collapse of the $160 billion merger of Pfizer and Allergan, and by a rise in energy shares.
