Generali would sell Telecom stake if no convincing plan forthcoming
CERNOBBIO, Italy (Reuters) – The chairman of Generali said on Saturday he hoped Telecom Italia would benefit from opportunities from sector consolidation but if it did not come up with a convincing business plan, Generali would need to sell its stake.
China, Kazakhstan to ink deals worth $30 billion on Saturday
ASTANA (Reuters) – Kazakhstan and China will sign 22 agreements on Saturday worth a total of around $30 billion, including several deals in the key oil and gas sector, Kazakh President Nursultan Nazarbayev said.
Intesa CEO expects bank consolidation in Europe
MILAN (Reuters) – The chief executive of Intesa Sanpaolo said on Saturday he expected a new phase of consolidation among European banks, adding the Italian lender was not interested in increasing its exposure to the domestic banking system.
Polish central banker says pension changes can boost economy
WARSAW (Reuters) – A Polish central bank policymaker has defended the government’s decision to transfer more than half of private pension fund assets to the state, saying the move would give the economy a vital investment boost.
Classic Ferraris, Bentleys soar in value as gold price sinks
LONDON (Reuters) – Classic cars such as Ferraris, Bugattis and Bentleys soared by 28 percent in value in the year to June, outstripping gold, art and luxury London property thanks to rising demand from wealthy Asians.
Settlement reached in Reserve Primary Fund lawsuit
NEW YORK (Reuters) – Money market pioneer Bruce Bent and others involved in the management of Reserve Primary Fund have reached a settlement worth at least $54.5 million in a shareholder lawsuit stemming from the fund’s collapse at the height of the fi…
Argentina asks U.S. court for rehearing in fight with bondholders
NEW YORK (Reuters) – Argentina urged a U.S. appeals court Friday to reconsider an order last month requiring it to pay $1.33 billion in favor of hedge funds that have refused to participate in two debt restructurings that sprang from Argentina’s 2002 d…
Daimler to build Mercedes compact cars in Brazil – CEO tells paper
FRANKFURT (Reuters) – German carmaker Daimler plans to build a new Mercedes factory in Brazil to benefit from growing demand for compact cars in the country, its chief executive told a German newspaper.
Wall Street Week Ahead: Markets could turn choppy as Fed, Syria risks mount
NEW YORK (Reuters) – U.S. stocks could be in for a jolt of volatility in the week ahead as Congress debates whether to authorize a military strike against Syria and as the Federal Reserve’s pivotal decision on winding down its stimulus grows near.
Probe clears BP claims administrator despite staff misconduct
NEW YORK (Reuters) – An investigation led by former FBI Director Louis Freeh cleared the BP claims administrator of misconduct in handling settlement payouts from the 2010 oil spill in the Gulf of Mexico on Friday, but found some of his staff took kick…
