Sony CEO asks for patience as shareholders press on spinoff plan
TOKYO (Reuters) – Sony Corp shareholders pressed its chief executive for a response to hedge fund Third Point’s proposal for a partial spinoff of its profitable entertainment arm but Kazuo Hirai pleaded for patience as management reviews the bold plan….
Japan’s Nomura cuts Australian jobs as banks trim costs
SYDNEY (Reuters) – Japan’s biggest brokerage firm Nomura Holdings Inc flagged redundancies in its Australian equities team, in an internal memo seen by Reuters.
SandRidge ousts CEO Ward, Bennett takes the helm
(Reuters) – SandRidge Energy Inc’s board of directors removed the energy company’s founder and chief executive, Tom Ward, on Wednesday after a months-long struggle with activist investors who accused him of strategic mistakes and self-dealing at the ex…
Kuwait Finance House says 20 percent capital increase oversubscribed
DUBAI (Reuters) – Kuwait Finance House (KFH), the Gulf Arab state’s largest Islamic bank, said on Thursday its 20 percent capital increase had been oversubscribed by shareholders, without providing specific details.
SNB lauds UBS, Credit Suisse capital steps, warns on leverage
ZURICH (Reuters) – The Swiss National Bank welcomed measures by Credit Suisse and UBS to bolster their capital levels, but said leverage ratios still lag international rivals.
Intrepid Mines board survives coup over lost Indonesia mine
MELBOURNE (Reuters) – Shareholders of Intrepid Mines backed their board and its attempt to reclaim rights to a $5 billion copper and gold project in Indonesia, defeating a plan by a private equity investor to oust the board on Thursday.
Bernanke says Fed likely to reduce bond buying this year
WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economy is expanding strongly enough for the central bank to begin slowing the pace of its bond-buying stimulus later this year.
Sony to consider Third Point’s proposal: Sony CEO Hirai
TOKYO (Reuters) – Sony Corp CEO Kazuo Hirai said on Thursday that the electronics firm’s board will consider hedge fund Third Point’s suggestion to spin-off the electronics company’s profitable entertainment arm.
Britain, France face EU action over high Eurostar charges
BRUSSELS (Reuters) – The European Commission has given France and Britain two months to respond to a request to lower charges for passenger and freight trains to use the Channel Tunnel, or face possible court action, it said on Thursday.
Rocket’s Lazada gets $100 million in bid to be Southeast Asia’s Amazon
(Reuters) – Lazada, the Southeast Asian online retail company founded by Germany’s Rocket Internet Gmbh, has secured another $100 million from investors in its bid to lift the region from its status as an e-commerce backwater.
