Citi names two new board members
(Reuters) – Citigroup Inc added two directors on Monday as Chairman Mike O’Neill moved to provide the board with more experience in corporate information systems and auditing.
Jaguar Land Rover, DHL say strike contingency plans in place
LONDON (Reuters) – Jaguar Land Rover (JLR) and logistics firm DHL said on Monday that plans are in place to minimize the impact on production at the carmaker’s British plants from a threatened strike by DHL staff.
Japan’s SoftBank says expects to complete Sprint deal on July 10
TOKYO (Reuters) – Japan’s SoftBank Corp said on Monday that it expects to complete its $21.6 billion acquisition of U.S. wireless carrier Sprint Nextel Corp on Wednesday, July 10.
Dubai could raise $1 billion from telecoms stake sales: J.P. Morgan
DUBAI (Reuters) – Dubai Holding could raise almost $1 billion from the sale of its minority stakes in two telecoms firms, J.P. Morgan said in a research note, part of a strategy by state-linked companies to sell assets to repay the emirate’s debt pile….
Britain to unveil Royal Mail privatization plans: report
LONDON (Reuters) – Britain will push ahead with its biggest privatization in decades when it unveils plans for a 2.5 billion pound ($3.7 billion) stock listing of state postal operator Royal Mail this week, Sky News reported.
Europe floods to cost insurers up to $4.5 billion: Swiss Re
ZURICH (Reuters) – Floods in central Europe last month may cost insurance companies $3.5-4.5 billion, only half of one previous estimate but more than was paid out for the last major washout in 2002, the world’s second biggest reinsurer said on Monday….
Lloyds shares hit two-year high on overseas buyers’ interest
LONDON (Reuters) – Lloyds Banking Group shares jumped to a 2-1/2 year high on Monday as overseas investors stepped up their interest in buying part of the bank, with media reports suggesting some may want half the government’s stake.
BMW extends sales lead over German rivals in June
BERLIN (Reuters) – BMW’s sales rose faster in June than at Audi and Mercedes as demand from China and the United States helped the German luxury car maker to extend a lead over its two main rivals in the first six months of the year.
UKFI hires UBS banker to run down ‘bad bank’ loans
LONDON (Reuters) – The body charged with handling Britain’s stakes in lenders has hired a senior banker from UBS to manage its holdings in the ‘bad bank’ books of Northern Rock and Bradford & Bingley.
Japan’s Olympus to raise up to $1.17 billion in share issue
TOKYO (Reuters) – Japan’s Olympus Corp said it will raise up to 118 billion yen ($1.17 billion) in a new share issue to expand its medical equipment business and rebuild its financial health, after an accounting scandal plunged the company into the red…
