Norway picks Citi as custodian of wealth fund over JPMorgan: FT
(Reuters) – Norway picked Citigroup over rival U.S. bank JPMorgan Chase & Co Inc as custodian of its sovereign oil wealth fund, the world’s biggest at $865 billion, the Financial Times reported on Sunday.
China’s ‘ordinary’ billionaire behind grand Nicaragua canal plan
BEIJING (Reuters) – Wang Jing, the enigmatic businessman behind Nicaragua’s $50 billion Interoceanic Grand Canal, shrugs off scepticism about how a little-known entrepreneur can be driving a huge transcontinental project, insisting he’s not an agent of…
Portugal decides on ‘clean exit’ from bailout
LISBON (Reuters) – Portugal said on Sunday it would exit its three-year 78-billion-euro bailout this month without a precautionary credit line, as the country returns to growth after years of painful austerity and unpopular reforms.
Business looks to Modi to defuse India’s jobs time bomb
GURGAON, India (Reuters) – When Narendra Modi talks about creating jobs in labor-intensive manufacturing, textile entrepreneur Sudhir Dhingra hopes the Indian opposition leader means business.
Buffett defends Coke, BNSF at Berkshire annual meeting
OMAHA, Nebraska (Reuters) – Warren Buffett on Saturday defended his recent controversial vote on executive pay at Coca-Cola Co and disappointing performance at railroad BNSF, as investors grilled him on his Berkshire Hathaway Inc conglomerate at its an…
ECB the focus in light week for data
LONDON (Reuters) – Euro zone policymakers get their main monthly chance this week to adjust their rhetoric about further monetary stimulus, although with inflation creeping a bit higher there, talk is more likely than action.
Alstom battle to upstage Siemens chief’s grand strategy launch
BERLIN (Reuters) – When Joe Kaeser took the reins of German engineering giant Siemens last summer after a boardroom coup, he made clear his priority was closing a yawning profitability gap with rivals such as General Electric .
Etihad says is buying stakes in Europe to compete, not control
ABU DHABI (Reuters) – Abu Dhabi’s Etihad Airways on Sunday said its strategy of buying stakes in European airlines was bringing fresh competition to the region, despite close scrutiny by regulators over whether its investments comply with European owne…
Comcast to bring its X1 service to L.A., New York within year of merger
Los Angeles (Reuters) – Within a year after its $45 billion acquisition of Time Warner Cable Inc closes, Comcast Corp aims to make its advanced X1 cable service available in areas such as New York and Los Angeles and other markets where it will gain a …
Big Pharma stands to profit by cleaning out its medicine chests
NEW YORK (Reuters) – Leading global pharmaceutical companies have started to view their vast portfolios of older, established prescription drugs as vehicles for raising large sums of cash to fuel development of new medicines with far higher profit marg…
