As credit tightens at home, Chinese sell Hong Kong luxury real estate
HONG KONG (Reuters) – Cash-strapped Chinese are scrambling to sell their luxury homes in Hong Kong, and some are knocking up to a fifth off the price for a quick sale, as a liquidity crunch looms on the mainland.
Two charged in U.S. insider case with tips on chewed-up napkins
(Reuters) – A Morgan Stanley stockbroker and a clerk at a prestigious New York law firm were charged with insider trading in corporate mergers, in an alleged four-year scheme involving a middleman who would chew up napkins on which he passed illegal ti…
Exclusive: Chatroom evidence questions BoE role in FX probe – sources
LONDON (Reuters) – British regulators are examining evidence relating to a 2012 meeting of currency dealers and Bank of England officials which potentially challenges the central bank’s assertion it had not condoned sharing details of client orders.
Peugeot to cut pension packages: paper
PARIS (Reuters) – French carmaker PSA Peugeot Citroen is to cut the size of its executive pension packages, French daily Les Echos reported, months after public criticism forced former chief executive Philippe Varin to turn down his pension.
Icahn changes course, urges eBay to sell 20 percent of PayPal
(Reuters) – Activist investor Carl Icahn on Wednesday called on eBay Inc to sell 20 percent of its PayPal payments unit in an initial public offering, a change in tack from his previous call for a complete spinoff.
Wall Street drops after Yellen moves up possible rate hike
NEW YORK (Reuters) – U.S. stocks fell on Wednesday after comments from Federal Reserve Chair Janet Yellen raised the possibility of an earlier- than-anticipated increase in interest rates.
Toyota’s $1.2 billion settlement may be model for U.S. probe into GM
WASHINGTON/DETROIT (Reuters) – Toyota Motor Corp will pay a record $1.2 billion to resolve a criminal probe into safety issues, in a deal that could serve as a template for how U.S. authorities approach a similar investigation into General Motors Co.
Exclusive: Telesat owner Loral shortlists Apax, pension funds for sale – sources
NEW YORK (Reuters) – Loral Space & Communications Inc , which holds a majority stake in Canadian satellite communications company Telesat Holdings Inc, has selected private equity firm Apax Partners LLP and two Canadian pension funds to negotiate a sale of Telesat, people familiar with the matter said.
BMW eyes U.S. production hike in push for sales record
MUNICH (Reuters) – German luxury carmaker BMW is looking at raising production capacity at its plant in the United States and releasing 12 new models as it chases record sales and a rise in pretax profit of up to 10 percent this year.
Sony to reduce suppliers to speed up product development: Nikkei
(Reuters) – Sony Corp will reduce by about three-quarters the number of its parts suppliers to speed up development of its electronic products, the Nikkei reported on Thursday.
