Business News

RBS board has held CEO successor talks: report

LONDON | Sun May 26, 2013 4:34pm EDT LONDON (Reuters) - Directors of Royal Bank of Scotland (RBS.L) have held recent talks on identifying a replacement for its chief executive Stephen Hester, Sky News said on Sunday citing sources. Sky News said Philip Hampton, Chairman of the state-backed lender, called a meeting of the...

26 May 11:50 PM 0 Read More...

Economic reality finally cracks market fervor

By Andy Bruce LONDON | Sun May 26, 2013 3:51pm EDT LONDON (Reuters) - As evidence mounts that a mid-year slowdown is taking place in the world economy, the next few days will offer a clearer glimpse of how that will impinge on policymaking and buoyant financial markets. Global stocks stumbled last Thursday in one of the few times the grey economic reality cut throug...

26 May 11:50 PM 0 Read More...

Merkel, Li call for end to EU-China solar trade row

By Erik Kirschbaum BERLIN | Sun May 26, 2013 2:21pm EDT BERLIN (Reuters) - German Chancellor Angela Merkel and Chinese Premier Li Keqiang on Sunday called for an end to a trade row between Europe and China over solar panels and wireless equipment, telling a joint news conference they were both for free trad...

26 May 6:43 PM 0 Read More...

China PM says stable euro in best interests of China and world

BERLIN | Sun May 26, 2013 2:13pm EDT BERLIN (Reuters) - China's Premier Li Keqiang said on Sunday a stable euro was in the best interests of China and the whole world. Speaking at a news conference in Berlin with Chancellor Angela Merkel, Li said China has offered its help throughout the euro zone crisis."We've stood by Europe and we hope that the European Union can overcom...

26 May 6:43 PM 0 Read More...

Kion, Shandong Heavy get 500 million euro to enhance cooperation

FRANKFURT | Sun May 26, 2013 1:40pm EDT FRANKFURT (Reuters) - Germany's Kion Group KIONG.UL, the world's second biggest maker of fork lift trucks, and shareholder Shandong Heavy (000338.SZ) are getting as much as 500 million euros ($647 million) in financing from the China Development Bank to support their cooperation, Kion said. The two companies will also be receiving uns...

26 May 6:43 PM 0 Read More...

Insight: Two things missing on Spain’s route to recovery

By Michael Stott MADRID |Sun May 26, 2013 8:55am EDT MADRID (Reuters) – Spanish officials tell a dramatic turnaround story: from near-bankruptcy a year ago to model of budget austerity and reform now. There are just two things missing: jobs and growth. And only one potential salvation: exports. Ministers reel off a litany of statistics to show how much has been achieved: the budget deficit h...

26 May 5:33 PM 0 Read More...

Insight: Two things missing on Spain's route to recovery

By Michael Stott MADRID | Sun May 26, 2013 8:55am EDT MADRID (Reuters) - Spanish officials tell a dramatic turnaround story: from near-bankruptcy a year ago to model of budget austerity and reform now. There are just two things missing: jobs and growth. And only one potential salvation: exports.Ministers reel off a litany of statistics to show how much has been achi...

26 May 1:41 PM 0 Read More...

Ireland considering reform of corporate tax system: paper

DUBLIN | Sun May 26, 2013 6:15am EDT DUBLIN (Reuters) - The Irish government is examining options to close a loophole in its tax system that has allowed multinational companies to significantly reduce taxes they pay on profits, the Sunday Business Post newspaper reported. Ireland has been criticized by British and U.S. legislators in recent weeks for the fact that multinati...

26 May 1:41 PM 0 Read More...

China, EU to discuss trade disputes on Monday

BEIJING | Sun May 26, 2013 5:55am EDT BEIJING (Reuters) - China said it would hold talks with the European Commission on Monday to discuss a trade row over solar panels and wireless equipment, laying the ground for formal negotiations amid concerns of an escalating dispute. China's Vice Commerce minister Zhong Shan will meet EU Trade Commissioner Karel De Gucht in Brussels ...

26 May 1:41 PM 0 Read More...

Dubai retailer MAF eyes at least $500 million from hybrid bond

DUBAI | Sun May 26, 2013 3:31am EDT DUBAI (Reuters) - Dubai mall developer Majid Al Futtaim Holding (MAF) is looking to raise at least $500 million from the issue of a hybrid debt sale to finance its buyout of French hypermarket chain Carrefour's (CARR.PA) stake in a regional venture. MAF, sole franchisee of Carrefour hypermarkets in the Middle East, said last week it was b...

26 May 8:41 AM 0 Read More...