China banks seek profit boost through their bad debts
SINGAPORE/SHANGHAI (Reuters) – Major Chinese banks want to manage their own bad debts, attracted by the outsize profits being earned by recovery firms, in a sign of confidence that investments in internal risk assessment teams are set to pay off.
France secures Alstom stake option ahead of GE tie-up
PARIS (Reuters) – France won an option to buy 20 percent of Alstom ALSO.PA from construction group Bouygues on Sunday, in an eleventh-hour deal clearing the way for the agreed sale of Alstom’s energy business to General Electric GE.N.
Lululemon founder turns to Goldman as he considers shake-up -report
(Reuters) – The founder of Lululemon Athletica has turned to Goldman Sachs as he seeks a shake-up of the yoga retailer’s board of directors and may consider options including a proxy fight or joining a private equity firm in a buyout, the Wall Street J…
Bank of America expands rewards program for existing customers
NEW YORK (Reuters) – Bank of America Corp will announce on Monday it will lower the threshold for consumers who qualify for discounts on loans and other benefits as the No. 2 U.S. bank seeks to win more business from existing customers.
French politics trump business over Alstom
PARIS (Reuters) – There was dual cause for back-slapping in President Francois Hollande’s Elysee Palace late on Friday night.
Chinese consumers switch gears from cash to credit for car buys
SHANGHAI/HONG KONG (Reuters) – In a country where owning a car has long been a symbol of luxury and success, around 85 percent of Chinese car buyers still buy cars with cash.
After port fraud, China’s vast warehouse sector under scrutiny
SYDNEY/SHANGHAI (Reuters) – Shaken by a fraud investigation into metal financing in the world’s seventh-busiest port, banks and trading houses have been made painfully aware of the risks they face storing commodities in China’s sprawling warehouse sect…
Stenbeck transforms Swedish family firm into major online investor
STOCKHOLM (Reuters) – Swedish-American heiress Cristina Stenbeck’s bet on the red-hot e-commerce business has caught the eye of investors, although doubters question the future of her Kinnevik group in a sector where new players emerge almost every day…
Argentina mulls initial payment to holdout creditors, final deal in 2015: newspaper
BUENOS AIRES (Reuters) – Argentina is considering making an initial payment to “holdout” creditors before asking to extend negotiations to officially reach a settlement next January to avert a disastrous debt default, a leading local newspaper said on …
Siemens says standing by should Alstom-GE talks collapse
FRANKFURT (Reuters) – The chief executive of Siemens said on Sunday the German engineering group was ready to resume negotiations with Alstom and the French state should they fail to agree terms with the French firm’s suitor, General Electric.
