Bakrie Telecom debt ploy exposes new foreign investor pitfall in Indonesia
JAKARTA (Reuters) – An Indonesian telecommunication company found a creative way to ensure that its debt restructuring was approved over some creditors’ objections: it loaned itself money and then counted its own votes toward approving the plan.
Yields, dollar drop as Fed seen delaying hike
SYDNEY (Reuters) – The U.S. dollar was nursing losses in Asia on Thursday while bonds held hefty gains as investors scaled back expectations on how fast, and how far, the Federal Reserve might raise interest rates in coming months and years.
China chocolate market seen growing to $4.3 billion by 2019: Hershey
NEW YORK (Reuters) – Chocolate sales in China should grow to $4.3 billion by 2019, up nearly 60 percent from $2.7 billion in 2014 and driven by demand from the growing urban population, a senior Hershey officer forecast on Wednesday.
Google’s YouTube to launch subscription model in “few months”: CNBC
(Reuters) – Google Inc is set to launch a subscription model for YouTube in a few months, CNBC quoted Robert Kyncl, the online video service’s head of content and business operations as saying at the Code/Media conference.
Exclusive: U.S. authorities probe alleged forged letter from Mirach in Sahara deal
SAN FRANCISCO/NEW YORK (Reuters) – Federal authorities in San Francisco are probing U.S.-based Mirach Capital Group, two sources familiar with the situation told Reuters, amid allegations that the group gave a forged bank letter to Indian conglomerate …
T-Mobile presses U.S. to change rules for sale of airwaves
WASHINGTON (Reuters) – T-Mobile’s chief executive on Wednesday called the recent U.S. auction of airwaves “a disaster” for American consumers as he took aim at rules that allowed Dish Network Corp to partner with companies that may qualify for some $13…
Oil tumbles as huge supplies raise doubts about rally
NEW YORK (Reuters) – The comeback rally in oil paused on Wednesday, with crude prices falling 5 percent or more after traders and investors were overwhelmed by the latest estimates for U.S. supply builds that came in nearly five times above market expe…
Greece expected to seek loan extension from skeptical euro zone
ATHENS/BRUSSELS (Reuters) – Greece is expected to ask on Thursday for an extension to its “loan agreement” with the euro zone as it faces running out of cash within weeks, but it must overcome resistance from skeptical partners led by Germany.
Hershey plans to use simpler ingredients in products
(Reuters) – Hershey Co said it would start using simpler ingredients in its chocolate bars and kisses brands, the latest chocolate maker yielding to U.S. consumers’ concerns about the quality and sourcing of food.
Wall St. ends nearly flat; Fed minutes support
NEW YORK (Reuters) – The Dow and S&P 500 ended barely lower on Wednesday after a drop in energy shares but declines were limited by minutes from the latest Federal Reserve meeting, which showed policymakers are concerned about raising interest rates too soon.
