Founders set for reduced $4.7 billion buyout bid for ENRC
LONDON (Reuters) – The billionaire founders of ENRC are close to finalizing a buyout bid for the London-listed Kazakh miner, valuing the troubled group at just over 3 billion pounds ($4.7 billion), below the value of a tentative proposal made in May.
China’s cash squeeze caused by shadow banking: Xinhua
SHANGHAI (Reuters) – There is ample liquidity in China and the latest spike in money market rates was a result of market distortions caused by widespread speculative trading and shadow financing, state news agency Xinhua said in a commentary on Sunday….
Amid China market stand off, calls for a more transparent central bank
BEIJING (Reuters) – China’s central bank rarely explains its actions in public and keeps markets guessing on policy, but the angst created by its stand off with banks in the money markets is prompting calls for it to change tack.
Analysis: Oracle’s sales miss magnifies fears about cloud missteps
BOSTON (Reuters) – “What the hell is cloud computing?” Oracle Corp Chief Executive Larry Ellison said during a diatribe against the whole concept at an investor Q&A in 2008.
Lufthansa says new low-cost brand off to good start
FRANKFURT (Reuters) – Lufthansa said that a project to merge some of its European and German domestic routes under a new low-cost brand has started successfully, as the airline grapples with losses at its European short-haul flights.
Barclays under German taxman’s gaze over tax credits: report
FRANKFURT (Reuters) – German tax authorities are investigating Barclays over the use of legal loopholes which cut the British lender’s tax bill by billions of euros, a German newspaper reported on Saturday.
Analysis: After the Fed shock, markets set for more turmoil
NEW YORK (Reuters) – Fasten your seatbelts. And expect lots of turbulence.
Freeport resumes some output at world’s No.2 copper mine
JAKARTA (Reuters) – Freeport McMoRan Copper and Gold Inc has restarted some operations at the world’s second biggest copper mine after receiving approval from the Indonesian government, a senior company official told Reuters on Saturday.
Jefferies readies loans for Icahn’s Dell bid: sources
(Reuters) – Jefferies & Co will provide $5.2 billion in term loans to back Carl Icahn’s bid for computer manufacturer Dell Inc, sources told Thomson Reuters LPC.
UBS to exit banking business in India: source
MUMBAI (Reuters) – Swiss bank UBS AG will surrender its Indian banking license and close its banking unit, covering fixed income, forex operations and credit services, a source with direct knowledge of the matter told Reuters on Saturday.
