Julius Baer sees resolution to U.S. tax probe in foreseeable future
ZURICH (Reuters) – Swiss bank Julius Baer sees itself reaching an agreement with the U.S. authorities in a dispute over tax in the foreseeable future, its chief said on Wednesday, giving the clearest indication yet of when a resolution might be expecte…
Greece faces long road to recovery, despite financial rebound
PIRAEUS, Greece (Reuters) – Nikos Mavrikos has fired half of his employees since 2010 as the Greek economy imploded, leaving his ship supply business on the verge of collapse. February marked a turning point, however: Mavrikos made a hire, his first in…
Europe rides rebound in risk appetite, emerging markets shine
LONDON (Reuters) – Revived appetite for emerging markets helped Asian stocks hit a near six-month high on Wednesday, driving more modest gains in Europe and other developed markets, where future stimulus looks less clear-cut.
In smartphone mass-market, Samsung, Apple have margins on their minds
SEOUL (Reuters) – As the smartphone action shifts to the mass market, leaders Samsung Electronics Co Ltd and Apple Inc are under pressure to make their high-end phones more affordable to revive sales. And that may spell trouble for already-softening ma…
South Africa’s Woolworths set to buy Australia’s David Jones for $2 billion
SYDNEY (Reuters) – South African retailer Woolworths Holdings Ltd is set to buy Australia’s second-largest department store David Jones for $2 billion, trumping a merger proposal from Australian rival Myer Holdings Ltd with a hefty premium.
Olympus says being sued by six banks for $273 million over 2011 scandal
TOKYO (Reuters) – Olympus Corp on Wednesday said six Japanese trust banks have filed a lawsuit against the endoscope maker seeking 27.9 billion yen ($273 million) for damages relating to a $1.7 billion accounting scandal in 2011.
Comcast, Time Warner to face lawmakers on merger plan
WASHINGTON (Reuters) – Executives from Comcast Corp and Time Warner Cable Inc are expected to defend their plan to merge as they go before the Senate Judiciary Committee on Wednesday, the first hearing since the $45.2-billion deal was announced in Febr…
Sotheby’s comes out with defense in battle with Loeb
(Reuters) – Sotheby’s on Tuesday published a 53-page slide deck in its defense against hedge fund manager Daniel Loeb, who has been trying to force his way onto the board of the auction house.
Non-banks notch a win in long-running derivatives battle
NEW YORK (Reuters) – A group of small brokerages and large commodities companies convinced lawmakers to tweak a rule that they say would have made derivatives trading more expensive for them and sent more business to Wall Street banks that already domi…
BMW weighing new North American plant: Bloomberg
(Reuters) – German carmaker BMW is planning a second North American factory to cater to the rising demand for its vehicles, Bloomberg reported on Tuesday.
