Lululemon chairman eyes $220 million share sale
TORONTO (Reuters) – Lululemon Athletica Inc Chairman Dennis “Chip” Wilson is looking to sell up to 3.4 million shares of the yogawear retailer, reducing the stake he controls in the company to 25 percent from 28 percent, according to an SEC filing.
Exclusive: Spain banks do not need new EU aid at present – EC document
BERLIN (Reuters) – Spain’s banks do not at present need further European aid, according to a document prepared by the European Commission and the European Central Bank and seen by Reuters on Friday.
S&P cuts Nokia rating further on Siemens venture buyout
LONDON, July 5 (IFR) – Standard & Poor’s downgraded Nokia further into junk territory on Friday, warning that the Finnish telecom firm’s plan to take over Siemens AG’s stake in their joint network equipment venture would strain its finances.
Cyprus launches criminal probe to dig deeper into financial collapse
NICOSIA (Reuters) – Criminal investigators will help judges in Cyprus dig deeper into what caused a financial crisis that forced the island to ask for a bailout by international lenders, authorities said on Friday.
China starts investigation into Tetra Pak ‘dominance’: state media
SHANGHAI/STOCKHOLM (Reuters) – China is investigating Swedish packaging giant Tetra Pak over the possible “misuse of its market dominance”, state media reported on Friday, as authorities ramp up scrutiny of foreign firms in the world’s No. 2 economy.
Basel considers changing how banks calculate risk
LONDON (Reuters) – Global regulators are considering changing the way banks calculate risks on their books to ensure that lenders hold enough capital and restore trust in the tarnished sector.
China signals will cut off credit to rebalance economy
BEIJING (Reuters) – China said on Friday it would cut off credit to force consolidation in industries plagued by overcapacity as it seeks to end the economy’s dependence on extravagant investment funded by cheap debt.
Top Vivus shareholder says proxy firm ISS backs three of nine board nominees
(Reuters) – Vivus Inc’s largest shareholder, First Manhattan Co, said on Friday proxy advisory firm Institutional Shareholder Services recommended three of the nine directors the shareholder had proposed for nomination to the drugmaker’s board.
Polish airline LOT says Dreamliner problems not battery-related
WARSAW (Reuters) – Polish flag carrier LOT said that problems with two of its Boeing Dreamliners, which forced the airline to cancel two flights and postpone another, were not linked to the battery issues that grounded all of the jets this year.
Dollar gains, shares flat before U.S. jobs data
LONDON (Reuters) – The dollar rose against the euro and sterling on Friday after the British and euro zone central banks said they planned to keep rates low while commodities fell in nervous trading before a crucial U.S. jobs report.
