Dexia says will take 59 million euro charge for Detroit debt
BRUSSELS (Reuters) – Nationalized Franco-Belgian bank Dexia said on Monday it would take a 59 million euro (US$77.84 million) charge in its second-quarter income related to debt holdings from the U.S. city of Detroit.
Exclusive: Vivendi to announce Maroc Telecom sale to Etisalat – sources
LONDON/PARIS (Reuters) – French conglomerate Vivendi is set to announce the sale of its 53 percent stake in Maroc Telecom to Dubai-based Etisalat in one of the biggest emerging market deals this year, three sources with direct knowledge of the situatio…
Glaxo says executives appear to have broken Chinese law
LONDON/SHANGHAI (Reuters) – British drugmaker GlaxoSmithKline said on Monday some of its executives in China appeared to have broken the law in a bribery scandal, as it promised changes in its business model that would lower the cost of medicine in the…
Jaguar to launch mass market range in 2015: sources
LONDON (Reuters) – British luxury carmaker Jaguar will launch new affordable models from 2015 in a bid to emulate the success of lower cost luxury vehicles made by its sister company Land Rover, two sources close to the company said on Monday.
China committed to reforms, to take decisive steps: vice premier
BEIJING (Reuters) – China remains committed to steering its economy towards consumption as the main growth driver, and away from investment and exports, and will fine-tune policies to deal with any prolonged slowdown, Vice Premier Zhang Gaoli was quote…
UBS profit beats forecasts despite U.S. mortgage suit settlement
ZURICH (Reuters) – UBS’s second-quarter profit beat forecasts even though it agreed to settle a lawsuit with the U.S. housing regulator over the mis-selling of mortgage-backed bonds, boosting shares in Switzerland’s largest bank to two-year highs.
Busy global oilfields shield Halliburton from U.S. gas glut
(Reuters) – Halliburton Co on Monday delivered a higher-than-expected quarterly profit as it found greater success outside its natural gas-engorged home market in the United States.
Kimberly-Clark upholds ’13 view despite second quarter beat
(Reuters) – Kimberly-Clark Corp added a cautious tone to its full-year outlook on Monday, saying the stronger U.S. dollar might hurt results more than expected, even as the maker of Kleenex tissues posted a bigger-than-anticipated rise in quarterly pro…
Insight: Wall Street reshapes commodities business to fend off regulation
NEW YORK (Reuters) – Wall Street’s most powerful banks have accelerated efforts to transform the structure and focus of their commodity trading desks to preserve their multibillion-dollar empires from tightening regulation.
Global shares eye five-year high after Abe win, yen choppy
LONDON (Reuters) – World shares were within sight of a five-year high on Monday as a strengthening of Japanese Prime Minister Shinzo Abe’s grip on power in weekend elections was seen as a boost for his radical stimulus policies.
