Argentine debt defiance may strengthen holdouts’ legal position
NEW YORK (Reuters) – Argentina has fought in court for a dozen years against the claims of holdout investors in its defaulted debt, and Argentina has lost. The holdouts, led by Paul Singer’s Elliott Capital Management and Mark Brodsky’s Aurelius Capita…
Citi to hire 100 bankers in Asia, eyes more business from smaller clients
HONG KONG (Reuters) – Citigroup plans to hire as many as 100 bankers in a renewed push into Asia-Pacific commercial banking, following in rival HSBC’s footsteps with a strategy that focuses on selling smaller corporate clients a wider range of products…
Argentina to hold last-gasp debt talks with mediator Tuesday
BUENOS AIRES/NEW YORK (Reuters) – Argentina will on Tuesday meet the U.S. mediator in its battle with ‘holdout’ debt investors suing the country for last-minute talks to avert a second default this century, but hopes for a deal are fading fast.
Court orders Russia to pay $50 billion for seizing Yukos assets
MOSCOW/LONDON/AMSTERDAM (Reuters) – An international arbitration court ruled on Monday that Russia must pay $50 billion for expropriating the assets of Yukos, the former oil giant whose ex-owner Mikhail Khodorkovsky fell foul of the Kremlin.
Panasonic to initially invest $200-300 million in Tesla battery plant: source
(Reuters) – Panasonic Corp plans to initially invest about 20 billion to 30 billion yen ($200-300 million) in Tesla Motors Inc’s planned lithium-ion battery plant in the United States, a person familiar with the matter said on Tuesday.
Darden CEO steps down amid food fight with investors
(Reuters) – Darden Restaurants Inc’s food fight with activist investors Barington Capital Group LP and Starboard Value LP entered a new phase on Monday, when the company said Clarence Otis would step down as chairman and chief executive officer.
Exclusive: Goldman moves executive to new role building ETFs
NEW YORK (Reuters) – Goldman Sachs Group Inc has moved an executive from its trading division to its investment-management division to launch a business that will sponsor exchange-traded funds and sell them to retail clients through third parties, acco…
Argentina to hold last-gasp debt talks with mediator Tuesday
BUENOS AIRES/NEW YORK (Reuters) – Argentina will on Tuesday meet the U.S. mediator in its battle with ‘holdout’ debt investors suing the country for last-minute talks to avert a second default this century, but hopes for a deal are fading fast.
China brands beat global rivals with tea toothpaste & pickled plums
SHANGHAI/HONG KONG (Reuters) – With green-tea flavored toothpaste and pickled plum juice, an army of Chinese retailers is tapping local tastes to whittle away market share from global rivals that are banking their future growth on the world’s second-la…
Consumer Reports wants Toyota to recall older Camry hybrids
DETROIT (Reuters) – An influential consumer magazine on Monday called on Toyota Motor Corp to recall about 177,500 older Camry hybrid sedans to address potential power brake defects.
