Exclusive: Slowing Indian economy may force Chidambaram to wield budget knife
NEW DELHI (Reuters) – India’s finance minister may have to slice at least 200 billion rupees ($3.2 billion) from government spending to prevent a budget blow-out, which could threaten to send the country’s credit rating into “junk” status, two ministry…
EU preparing to charge Gazprom in antitrust case
VILNIUS (Reuters) – EU regulators are preparing to charge Russian gas export monopoly Gazprom with abusing its dominant position in central and eastern Europe, the EU’s antitrust chief said on Thursday, in a move that could lead to a fine of up to $15 …
Greece’s Piraeus and NBG to set up ‘bad banks’ as bad loans soar
LONDON/ATHENS (Reuters) – Greece’s biggest lenders, National Bank of Greece and Piraeus plan to put their troubled loans into separate “bad banks” in order to restore consumers’ confidence in the rest of their business, the banks’ executives told Reute…
Ardian woos U.S. and Asian money with 2.4 bln euro buyout fund
PARIS (Reuters) – Private equity firm Ardian, which was recently spun off from French insurer AXA, has completed fundraising for a new 2.4 billion euro ($3.26 billion) buyout fund with fresh money from the United States and Asia.
Goodbye London, hello Gaborone: De Beers sales head to Africa
LONDON (Reuters) – In a spartan office in the London headquarters of De Beers, Elliot Tannenbaum holds a cloudless stone the size and shape of a domino to the light: a rough diamond worth millions, even before it is cut and polished.
Mizuho replaces compliance officer after crime loans reprimand
TOKYO (Reuters) – Mizuho Financial Group said on Thursday it had replaced its chief compliance officer almost a week after Japan’s banking regulator reprimanded it over loans extended through consumer credit agencies to members of organized crime netwo…
EU’s Almunia says ready to charge Gazprom in antitrust case
VILNIUS (Reuters) – The European Union’s antitrust chief said on Thursday that he was ready to charge Gazprom with anti-competitive practices in a move that could lead to a fine of up to $15 billion for the Russian gas export monopoly.
Italian prosecutors seek JPMorgan indictment for Paschi-Antonveneta deal
FLORENCE, Italy (Reuters) – Siena prosecutors requested that JPMorgan Chase & Co stand trial for obstructing regulators as part of a wider probe into Banca Monte dei Paschi di Siena’s purchase of Banca Antonveneta , said a judicial source.
Retail group expects slightly brighter holiday season sales
(Reuters) – U.S. retail sales should rise 3.9 percent this holiday season, outpacing last year’s gains, though economic concerns may impact shoppers’ spending, the world’s largest retail trade association said on Thursday.
UniCredit eyes Poland’s BGZ, might leave Ukraine: CEO
MILAN (Reuters) – UniCredit , Italy’s largest bank by assets, has submitted a preliminary offer to buy Poland’s Bank BGZ and is sounding investors out on the possibility of selling its Ukrainian unit, Chief Executive Federico Ghizzoni said.
