Shadow banking bolsters China Inc as Beijing tightens credit
SHANGHAI/HONG KONG (Reuters) – Wang Zhiyong, the founder of a Shanghai-based gift card company, tried twice to get a bank loan for his business and failed both times.
Exclusive: Regulator close to deal with Europe on swaps rules
WASHINGTON (Reuters) – A trans-Atlantic rift over derivatives could be ended by an offer from the U.S. swaps regulator that would spare foreign banks from some tough U.S. rules, according to two people briefed on the matter.
Pershing Square looks to raise $1 billion for bet on unnamed company
BOSTON (Reuters) – Hedge fund manager William Ackman is ready to bet big on an unnamed U.S. company and is asking pension funds and endowments to commit $1 billion to two new funds by the end of next week to help him make that investment.
SEC says audit firms hinder accounting fraud probes
WASHINGTON (Reuters) – U.S. federal regulators tried to persuade a judge on Monday to sanction the Chinese arms of the world’s top five accounting firms, saying their refusal to hand over audit work papers has hindered investigations into fraud at U.S….
Alcoa posts quarterly profit; sees aluminum demand growth
TORONTO (Reuters) – Alcoa Inc remains optimistic that global demand for aluminum will grow 7 percent this year, driven largely by demand from the aerospace and commercial transportation sectors, the largest aluminum producer in the United States said o…
Wall Street rises as attention turns to earnings season
NEW YORK (Reuters) – U.S. stocks advanced on Monday heading into the start of earnings season, building on gains sparked by last week’s robust employment report and pushing the S&P 500 closer to its all-time high set in May.
Top advisory firm backs Dell CEO’s offer for PC maker
(Reuters) – The largest U.S. shareholder advisory firm recommended on Monday that Dell Inc stockholders vote in favor of Chief Executive Michael Dell’s $24.4 billion buyout offer, increasing the odds of his prevailing against billionaire investor Carl …
Euro zone grants multi-billion euro lifeline for Greece
BRUSSELS (Reuters) – Greece secured a lifeline from the euro zone and the IMF on Monday but was told it must keep its promises on cutting public sector jobs and selling state assets to get all the cash.
India to review preferential policy for locally-made electronic goods
NEW DELHI (Reuters) – India will review a policy that gave preference to locally-made electronics goods in government and private sector procurement, the government said on Monday after protests by trade groups representing global companies such as App…
Clearwire shareholders vote for Sprint takeover
BELLEVUE, Washington (Reuters) – Shareholders in Clearwire Corp voted on Monday to approve majority owner Sprint Nextel Corp’s buyout of the rest of the company, ending a six-month battle for control of the small U.S. wireless operator.
