Exclusive: Barclays considers potential sale of UAE retail business
DUBAI (Reuters) – Barclays Plc is conducting a strategic review of its retail banking operations in the United Arab Emirates which could lead to a sale of the business, according to two sources familiar with the matter.
China investigating carmakers over pricing: industry body
SHANGHAI/BEIJING (Reuters) – A Chinese automotive association is collecting data on the price of all foreign cars sold in the country for a government agency that has fined companies for price-fixing in sectors ranging from milk powder to jewelery, off…
Glencore cuts budget for $5.9 billion Philippine project
MANILA (Reuters) – Glencore Xstrata will cut up to 920 jobs and slash spending at its $5.9 billion Tampakan copper-gold project in the Philippines, one of several future mines under review since the company was formed in a record-breaking takeover.
Indian auditor faults high costs in Italian chopper deal
NEW DELHI (Reuters) – – India’s federal auditor said on Tuesday the government may have overpaid in a 560 million euro ($744.43 million) deal to buy 12 luxury helicopters from AgustaWestland, a division of Italy’s Finmeccanica defense group.
Japan PM may sweeten sales tax hike with corporate tax cut
TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe may look at cutting corporate taxes to ensure he can push through a planned sales tax increase as he seeks to show he has a strategy to both foster an economic recovery and contain the country’s enor…
Britain’s home buying aid scheme boosts new homes market
LONDON (Reuters) – The British government said on Tuesday that 10,000 new homes had been reserved by beneficiaries of its ‘Help to Buy’ stimulus package, designed to boost the property market and encourage developers to build more houses.
BlackBerry may put itself up for sale
TORONTO (Reuters) – Struggling smartphone maker BlackBerry Ltd is weighing options that could include an outright sale, it said on Monday, and its largest shareholder is stepping down from its board to avoid any possible conflict of interest.
China’s Jiangsu province calls $126 billion bank debt manageable: paper
BEIJING (Reuters) – Government debt in China’s eastern Jiangsu province is under control and at an manageable and “appropriate” level for its economy, a Chinese newspaper on Tuesday quoted a senior local official as saying.
J.C. Penney to name new director to resolve Ackman dispute: WSJ
(Reuters) – J.C. Penney Co’s board is preparing to name a new director with retail experience as part of an effort to resolve its dispute with hedge fund Pershing Square’s Bill Ackman, the Wall Street Journal reported, citing people familiar with the m…
Japan should delay sales tax rise to beat deflation: PM confidant Nakahara
TOKYO (Reuters) – Japan should delay a planned hike in the sales tax in order to ensure that the economy emerges from deflation, said Nobuyuki Nakahara, a former Bank of Japan board member and close confidant of Prime Minister Shinzo Abe.
