Deregulation slowdown poses biggest challenge to UBS in China
SHANGHAI (Reuters) – A slowdown in the pace of deregulation is the biggest challenge facing UBS AG in China, an executive at the Swiss bank said as it opened a branch of its wealth management business in Shanghai on Thursday.
BMW CFO says China market has bottomed out, U.S. now a concern
FRANKFURT (Reuters) – BMW’s Chief Financial Officer Friedrich Eichiner said that after taking out inventories to restore demand in China in the fourth quarter, the market appeared to have bottomed out.
Viacom’s new lead independent director pledges close eye on strategy
NEW YORK (Reuters) – Viacom Inc’s new lead independent director pledged on Wednesday to represent all of the media company’s shareholders and improve board and management coordination, including on potential mergers and acquisitions.
Toshiba in $5.9 billion asset sale, shares hit by report of U.S. probe
TOKYO (Reuters) – Japan’s Toshiba Corp announced a $5.9 billion asset sale and a big investment in its chip business on Thursday, but saw its shares slide on a report that U.S. authorities were investigating accounting related to its Westinghouse nucle…
China’s ZTE delays annual results after U.S. restrictions
SHANGHAI (Reuters) – China’s ZTE Corp said it will delay the publication of its annual results because it needs to assess the impact of tough U.S. export restrictions imposed on the telecom equipment maker last week.
JPMorgan, Citi shareholders to vote on potential breakup plans
(Reuters) – Shareholders of JPMorgan Chase & Co and Citigroup Inc will get to vote on whether their banks should consider breaking into smaller pieces.
Norwegian Air says Paris-to-U.S. ticket sales ahead of forecast
OSLO (Reuters) – Norwegian Air’s ticket sales for the upcoming flights from Paris to U.S. destinations have been stronger than anticipated, the budget airline said on Thursday.
Heineken eyes control of indebted Indian tycoon’s brewery
MUMBAI (Reuters) – Heineken is likely to ask Vijay Mallya, who owes creditor banks more than $1 billion, to step down from the board of United Breweries , India’s largest brewer, three people with direct knowledge of the plan told Reuters.
Chinese hedge funds scramble as regulators clean up ‘Wild East’
HONG KONG/SHANGHAI (Reuters) – China’s hedge fund industry has been thrown into disarray as managers rush to comply with stringent new rules, introduced overnight, that could see over half the industry shut down by August, fund managers and lawyers tol…
Exclusive: Valeant lenders to prepare tough demands for default talks – sources
NEW YORK (LPC/Reuters) – Creditors of Valeant Pharmaceuticals International , which has been in violation of lender agreements since Wednesday, are beginning to demand new terms that could further pressure the drugmaker’s business model, according to t…
