Korean court rules in favour of Samsung affiliate in legal battle with US hedge fund Elliott Associates

Court clears shareholder meeting over Samsung C&T and Cheil Industries merger.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1R3qg9A July 01, 2015 at 10:38AM http://ift.tt/eA8V8J

BBC likely to cut hundreds of jobs in latest round

BBC is facing £150m-a-year shortfall in funding due to unpaid licence fees.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FPWlGb July 01, 2015 at 09:57AM http://ift.tt/eA8V8J

Nike chairman and co-founder Phil Knight to step down from sportswear firm in 2016

Knight wants Mark Parker, who has been serving as company's CEO since 2006, to succeed him.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LBV5xx July 01, 2015 at 09:08AM http://ift.tt/eA8V8J

Oil prices fall after Greece defaults on IMF loan

WTI crude for delivery in August fell 1.19% at $58.76 per barrel, while Brent crude was trading down 0.83% at $63.06.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1eZqvlc July 01, 2015 at 08:18AM http://ift.tt/eA8V8J

Indian court allows Nestle to export controversial Maggi noodles

The company said in a court statement that it had recalled 110 billion packets of Maggi and destroyed 117 billion packets.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Ipy3ZO June 30, 2015 at 02:33PM http://ift.tt/eA8V8J

'The devil made me gamble,' says Swiss tycoon who lost £2m at London casino

Ritz Club in Mayfair is suing Safa Abdulla Al-Geabury for his £2m bounced cheque.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1eXfHnO June 30, 2015 at 01:29PM http://ift.tt/eA8V8J

Libor rigging scandal: Germany launches new probe into Deutsche Bank after BaFin report

Prosecutors are examining the role played by individuals connected to Deutsche Bank in the scandal.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1eX3gZd June 30, 2015 at 11:51AM http://ift.tt/eA8V8J

Geneva hotels rated most expensive to dine in; London ranks fifth costliest for full-day meal

Geneva has emerged as the priciest city to eat in hotels, with a club sandwich costing $30.59 and a full-day meal $86.71.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1du0w3N June 30, 2015 at 11:27AM http://ift.tt/eA8V8J

UK consumer confidence rises to levels not seen since 'late nineties or early noughties'

GfK/KPMG consumer confidence index rises 6 points to 7 in June.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KqfAxU June 30, 2015 at 10:01AM http://ift.tt/eA8V8J

Heathrow named best airport in Europe as Terminal 1 shuts after 47 years of service

The London airport was also handed the Eco-Innovation Award, taking into account its pro-environment measures.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Kk0KHL June 29, 2015 at 04:33PM http://ift.tt/eA8V8J

AIIB: China takes 30% stake as 50 members sign articles of agreement

China will contribute $29.78bn of the bank's $100bn capital base, becoming the largest shareholder with a 30.34% stake.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1g0W8v9 June 29, 2015 at 11:51AM http://ift.tt/eA8V8J

Greek debt crisis: Asian markets rattled as Greece closes banks ahead of referendum

Nikkei, Hang Seng, Shanghai Composite, S&P/ASX and BSE Sensex all plunge.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1C0stvW June 29, 2015 at 10:55AM http://ift.tt/eA8V8J

Chinese banks grab top ranks as HSBC goes out of Banker magazine's top 5 list

ICBC, Wells Fargo, JPMorgan and Bank of America on list.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1g0FWtM June 29, 2015 at 10:01AM http://ift.tt/eA8V8J

New York Fed chief: September rate hike highly likely amid better data

William Dudley cites wage gains, improving incomes, and growing household spending among reasons for rate hike.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1drEE92 June 29, 2015 at 09:13AM http://ift.tt/eA8V8J

Raghuram Rajan: Global economy may be heading towards another Great Depression

Rajan, known for his prediction of the 2008 financial crisis, has been against unconventional monetary policies of US Fed and ECB.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GzR1bA June 27, 2015 at 01:07PM http://ift.tt/eA8V8J

Libor rigging scandal: German regulator alleges negligence by Deutsche executives

Bank's outgoing co-CEO Anshu Jain may have "knowingly made inaccurate statements" to Germany's Bundesbank during 2012 interview, says regulator BaFin.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HlQa1T June 27, 2015 at 10:36AM http://ift.tt/eA8V8J

GE's $200bn asset sales: Canada's Element Financial to buy bulk of $9bn vehicle fleet-management business

GE's vehicle fleet-management business helps finance and manage vehicles of companies.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LM5xk5 June 27, 2015 at 09:58AM http://ift.tt/eA8V8J

Nepal earthquake: No IMF aid under catastrophe containment fund

Earthquake did not cause enough economic damage for Nepal to be eligible for funding, says IMF.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1eLk7Ox June 26, 2015 at 02:35PM http://ift.tt/eA8V8J

Facebook diversity data: Social media adds just 1% more women as total headcount rises by 40%

US jobs are dominated by whites and Asians, according to latest diversity report.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Kf2W35 June 26, 2015 at 12:47PM http://ift.tt/eA8V8J

Nestle plans alternative snack in India in place of banned Maggi noodles

New product is expected to be in the form of ready-to-eat or ready-to-cook food, the Economic Times reports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FE3k4Y June 26, 2015 at 11:21AM http://ift.tt/eA8V8J

Government has not decided to replace BBC Trust with Ofcom - Report

Forthcoming green paper on BBC is likely to call for abolition of BBC Trust without backing alternative regulator, Guardian reports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Jn4rOl June 26, 2015 at 10:47AM http://ift.tt/eA8V8J

Canada's Valeant looks to buy world's largest animal health firm Zoetis

Valeant has made a preliminary approach for the US-based company, WSJ reports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GBaaca June 26, 2015 at 10:00AM http://ift.tt/eA8V8J

GE's health-care finance unit likely to fetch more than $11bn as Capital One and Apollo Global submit bids

GE is looking to sell most of its GE Capital assets over the next 18 months.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CxKdJY June 26, 2015 at 09:14AM http://ift.tt/eA8V8J

Ikea plans high-street presence with smaller stores

Company will test small-format stores, dubbed 'order and collection points', starting in Norwich in autumn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GscH9z June 25, 2015 at 01:25PM http://ift.tt/eA8V8J

Nepal earthquake: Monetary assistance pouring in as Nepal seeks $6.6bn for reconstruction

World leaders offer billions of dollars for Nepal's rebuilding as International Conference on Nepal's Reconstruction is being held in Kathmandu.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GsaD19 June 25, 2015 at 01:08PM http://ift.tt/eA8V8J

Digital-only challenger bank Atom secures licence from Bank of England

Bank intends to offer a range of personal and business banking products and services via mobile apps initially.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J71Bdo June 25, 2015 at 11:15AM http://ift.tt/eA8V8J

MERS outbreak: South Korea cuts growth forecast to 3.1% and announces fiscal stimulus package

Viral illness is expected to severely affect key tourism sector and consumer spending.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IzXpju June 25, 2015 at 10:15AM http://ift.tt/eA8V8J

Kweku Adoboli, rogue trader behind UBS' £1.5bn loss, released early from prison

He spent almost nine months in jail before his conviction and seven-year jail sentence in November 2012.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Jkdi3d June 25, 2015 at 09:40AM http://ift.tt/eA8V8J

China to recall infant formula made by three Shaanxi firms

Excessive nitrate and selenium levels found in tested samples.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J4hPE2 June 24, 2015 at 01:22PM http://ift.tt/eA8V8J

Spanish billionaire Amancio Ortega enjoys $2.3bn single-day boost to net worth

Ortega's single-day gain was $500m more than the combined increase recorded by the world's 10 richest people.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CrZHiq June 24, 2015 at 12:38PM http://ift.tt/eA8V8J

Australia to contribute A$930m to China-led AIIB to become 6th largest shareholder

Australian businesses will be able to take advantage of the growth in infrastructure in Asia via AIIB membership.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Idikgy June 24, 2015 at 12:12PM http://ift.tt/eA8V8J

Ramadan: Sundown meals boosting UK supermarket sales by £100m

Meat, rice and fruit have emerged as big sellers during Ramadan season.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KbNk24 June 24, 2015 at 11:14AM http://ift.tt/eA8V8J

Wal-Mart to charge vendors for using US stores and warehouses

Changes in company's supplier agreements are expected to affect 10,000 suppliers to US stores.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1TN3G3Y June 24, 2015 at 10:25AM http://ift.tt/eA8V8J

American Apparel discloses details of former CEO Dov Charney's 'sexual misconduct'

In court papers, company also accused Charney of exchanging pornographic emails and texts at work.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QP6fUm June 24, 2015 at 09:58AM http://ift.tt/eA8V8J

Western sanctions encouraging Russia to build 'independent financial structure'

European Union extends economic sanctions on Russia for the "destabilising role" it played in Ukraine, for another six months.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HaULnM June 23, 2015 at 05:19PM http://ift.tt/eA8V8J

Treasury reduces Lloyds stake to below 17%

So far, the government has recovered £11.5bn from sale of Lloyds shares in various phases.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1K7T8bd June 23, 2015 at 01:25PM http://ift.tt/eA8V8J

Japan and China factory activity contracts shows PMI

HSBC flash China manufacturing PMI improved to 49.6 in June from 49.2 in May, while flash Japan PMI plunged to 49.9 from 50.9.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1H9AhvA June 23, 2015 at 11:45AM http://ift.tt/eA8V8J

Ladbrokes and Coral in merger talks to create mega entity

Ladbrokes plans merger of Ladbrokes and Coral Retail, Eurobet Retail and Gala Coral's Online businesses.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J1pvXJ June 23, 2015 at 10:51AM http://ift.tt/eA8V8J

WhatsApp and AT&T do least to protect users' privacy - Study

Adobe, Apple, CREDO, Dropbox, Sonic, Wickr, Wikimedia, Wordpress and Yahoo get five stars.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CpRMCb June 23, 2015 at 10:12AM http://ift.tt/eA8V8J

Russia's Gazprom looks to benefit from Shell's BG Group acquisition

Gazprom would be able to penetrate newer markets under its global strategic alliance with Royal Dutch Shell.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J7Afql June 19, 2015 at 03:35PM http://ift.tt/eA8V8J

Google confirms 2014 acquisition of app streaming start-up Agawi

Agawi has developed a technology that allows people to access apps on their smartphones without downloading them first.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CgzDGT June 19, 2015 at 01:11PM http://ift.tt/eA8V8J

India's Supreme Court orders release of Sahara boss Subrata Roy subject to $1.6bn payment

Roy will not be released until Sahara pays Rs 100bn in cash and bank guarantee.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GlxTgo June 19, 2015 at 12:46PM http://ift.tt/eA8V8J

US diplomats to abandon Chinese-owned Waldorf Astoria hotel due to alleged snooping concerns

Hotel is now under ownership of Beijing-based Anbang Insurance Group, and US is suspicious about its planned renovation.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CgsHcT June 19, 2015 at 11:50AM http://ift.tt/eA8V8J

JPMorgan vice chairman Jimmy Lee passes away

Lee was one of JPMorgan's most important dealmakers, and he led its investment banking arm.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Fo9dD4 June 18, 2015 at 02:44PM http://ift.tt/eA8V8J

UK has most number of $1bn-plus tech start-ups in Europe

UK currently has 17 tech start-ups, known as 'unicorns', while Europe has a total of 40 start-ups, a research by GP Bullhound says.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1RbENLb June 18, 2015 at 01:20PM http://ift.tt/eA8V8J

Angola's Luanda costliest city for expatriates; London ranked No. 12

Hong Kong is number two, followed by Zurich, Singapore and Geneva, according to Mercer's latest Cost of Living survey.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FnTdkv June 18, 2015 at 12:03PM http://ift.tt/eA8V8J

Elliott Associates: Samsung Group must pay fair value to Samsung C&T shareholders

Elliott continues to view terms of proposed takeover as unfair, unlawful and significantly damaging to interests of Samsung C&T's shareholders.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CeAKqN June 18, 2015 at 09:27AM http://ift.tt/eA8V8J

China and Australia ink landmark Free Trade Agreement

The deal now has to be approved by parliaments of both nations for it to come into effect.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1R8Aj80 June 17, 2015 at 05:36PM http://ift.tt/eA8V8J

US clears £47bn mega merger between Shell and BG Group

The proposed merger has cleared its first antitrust hurdle by receiving early termination of the US antitrust waiting period.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GN9Jjw June 17, 2015 at 12:39PM http://ift.tt/eA8V8J

Asia to overtake North America in private financial wealth by 2016

Asia's private wealth soared 29% to $47tn in 2014, according to a Boston Consulting Group report.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QDfgQ4 June 17, 2015 at 12:27PM http://ift.tt/eA8V8J

Nestle to cut 15% workforce in Africa amid disappointing middle-class growth

Company says it overestimated rise of the middle class in Africa.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Lg9ptj June 17, 2015 at 11:18AM http://ift.tt/eA8V8J

MERS outbreak: South Korea to boost spending by up to $22bn as death toll rises to 19

Economists say the Korean government may announce a supplementary budget due to a "more worrisome" economic situation.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FYXvk3 June 16, 2015 at 01:05PM http://ift.tt/eA8V8J

China and Australia to formalise FTA on 17 June

Australia's Trade Minister Andrew Robb and China's Commerce Minister Gao Hucheng will formalise the China-Australia Free Trade Agreement in Canberra on 17 June.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Lcppj1 June 16, 2015 at 12:36PM http://ift.tt/eA8V8J

Jamaica among governments vying for HSBC's possible new headquarters

Jamaica has contacted HSBC to lure the bank into shifting its headquarters to the island state, Sky News reported.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FYTKLj June 16, 2015 at 12:32PM http://ift.tt/eA8V8J

Calvin Klein owner Coty to buy 3 Procter & Gamble businesses for $12bn

The company has won auctions to purchase P&G's hair-care, fragrance and cosmetics businesses, expanding its product portfolio.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KUAbJI June 16, 2015 at 10:35AM http://ift.tt/eA8V8J

Former PetroChina vice-chairman Liao Yongyuan faces prosecution after graft investigation by Communist Party

Liao has been accused of taking "enormous" bribes and abusing his position to help with job promotions.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JSRnyo June 15, 2015 at 02:37PM http://ift.tt/eA8V8J

Dragon Oil shares up 8% after board agrees to sweetened takeover offer from UAE's Enoc

Dragon Oil shareholders will receive £7.50 per share in cash, valuing the company at £3.7bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QZJXdd June 15, 2015 at 02:11PM http://ift.tt/eA8V8J

Alibaba to enter China's high-growth video streaming market with TBO

The company is planning to launch video streaming services in China in the next two months, as it looks to emulate Netflix and HBO in US.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MVCLOF June 15, 2015 at 01:07PM http://ift.tt/eA8V8J

Prince Alwaleed bin Talal does not want Jack Dorsey to remain Twitter boss

Saudi billionaire Prince Alwaleed is one of Twitter's earliest and biggest shareholders.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1fbJucf June 15, 2015 at 12:18PM http://ift.tt/eA8V8J

Local investors in Korea back Elliott Associates move to block merger of Samsung affiliates

Investors' backing of Elliott comes in contrast to Koreans' hostility towards foreign investors, whom they portray as "money-hungry opportunists".

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1SgKZ76 June 15, 2015 at 11:20AM http://ift.tt/eA8V8J

Nestle Maggi noodles: Indian court refuses to lift ban

India's food regulators asked to submit written explanation for ban.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1G0zUi0 June 13, 2015 at 02:20PM http://ift.tt/eA8V8J

US probes Nike's 1996 sponsorship of Brazilian football team for possible corruption

Probe is part of US Justice Department's wide-ranging investigation into corruption in global football business.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QUrIGa June 13, 2015 at 12:21PM http://ift.tt/eA8V8J

Research: 30% of US shoppers already using mobile wallets, forcing retailers to adopt new technology

Around 64% of consumers surveyed say that they would rather shop at retailers that provide mobile payment option.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FO8XPt June 12, 2015 at 04:08PM http://ift.tt/eA8V8J

Zimbabwe to give $1 for Z$35 quadrillion in exchange rate as nation phases out local currency

Country has already been using US dollars and South African rand, as local currency suffered due to hyperinflation that hit the economy six years ago.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QsZ3gq June 12, 2015 at 01:57PM http://ift.tt/eA8V8J

Zimbabwe to give $1 for Z$35 quadrillion in exchange rate as nation phases out local currency

Country has already been using US dollars and South African rand, as local currency suffered due to hyperinflation that hit the economy six years ago.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QsZ3gq June 12, 2015 at 01:57PM http://ift.tt/eA8V8J

Oil industry has become hackers' favourite because of potential to create blackouts or spills

Misuse of physical equipment by hackers could emerge as major threat for oil industry worldwide.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1L1PU7C June 12, 2015 at 12:25PM http://ift.tt/eA8V8J

MERS outbreak expected to hit South Korea's tourism and banking sectors

Tourism could be affected as Hong Kong, Macau and Taiwan issue alerts.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1I8eeBI June 12, 2015 at 11:51AM http://ift.tt/eA8V8J

World Bank slashes global economic growth forecast over woes in emerging markets

Developing countries are now projected to grow by 4.4% in 2015, down from the previous projection of 4.8%.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1e4Tjby June 11, 2015 at 01:54PM http://ift.tt/eA8V8J

Nike signs $1bn deal with NBA to provide uniforms

Nike will become first NBA apparel partner to have its logo appear on NBA uniforms.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FTRnbS June 11, 2015 at 08:03AM http://ift.tt/eA8V8J

Fx fixing scandal: Citigroup paid $2.5bn in fines for rigging currency rates as bank made just $1m from misconduct

Bank's fine was 2,500 times more than what it made from FX rigging.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1B45UGi June 11, 2015 at 07:17AM http://ift.tt/eA8V8J

US hedge fund Elliott seeks to block Samsung C&T's treasury share sale to Cheil Industries affiliate

Merger seen as Samsung family bid to ensure control of group.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1dy8PvO June 11, 2015 at 05:55AM http://ift.tt/eA8V8J

26 African nations to sign continent's largest free-trade agreement

Treaty, known as Tripartite Free Trade Area (TFTA), will be officially unveiled at upcoming summit of African Union this weekend in South Africa.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QLnel5 June 10, 2015 at 04:40PM http://ift.tt/eA8V8J

Norway most expensive nation to buy petrol as UK ranks 7th

In Norway, petrol prices are 26% higher than that in the UK, where price per litre is £1.21.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1cL8QMg June 10, 2015 at 01:25PM http://ift.tt/eA8V8J

Facebook generates more than half of ad revenues overseas

Overseas markets accounted for 51% of company's global ad sales in the first quarter.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KoCowS June 10, 2015 at 12:24PM http://ift.tt/eA8V8J

GE to sell private-equity-lending unit to Canadian pension fund for $12bn

GE Capital has so far announced sales of more than $55bn and is moving towards disposition of $100bn by end of 2015.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JEjgvG June 10, 2015 at 11:49AM http://ift.tt/eA8V8J

Oil prices up 2% after lower production estimates from US

Shale oil boom in US is expected to come to halt amid oil price cartel Opec's unchanged production target.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1S13Oeh June 09, 2015 at 05:29PM http://ift.tt/eA8V8J

HSBC set to announce thousands of job cuts in Stuart Gulliver's strategic plan

Revamp plan includes sale of businesses in Brazil and Turkey.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ds5e2g June 09, 2015 at 10:13AM http://ift.tt/eA8V8J

Samsung: US hedge fund Elliott launches legal action to block merger of affiliates

Merger pertains to construction company Samsung C&T and Cheil Industries.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JAQA6P June 09, 2015 at 09:49AM http://ift.tt/eA8V8J

Britain's Reuben Brothers reaches $900m deal with Subrata Roy to save embattled Sahara Group

Reuben Brothers agreed to refinance the $900m loan taken by Indian conglomerate Sahara Group from Bank of China.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JCtgE1 June 08, 2015 at 03:38PM http://ift.tt/eA8V8J

Spain's Amancio Ortega overtakes Warren Buffett as world's second richest

Spanish billionaire has net worth of $69.8bn as of 5 June, slightly higher than Buffett's $69.2bn fortune.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1BTKPZZ June 08, 2015 at 02:02PM http://ift.tt/eA8V8J

China begins big week of economic data with weak trade results

China is due to release its inflation figures on 9 June, while data on retail sales, industrial production and fixed asset investment are slated to come on 11 June.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1BTHnyA June 08, 2015 at 01:14PM http://ift.tt/eA8V8J

Oil prices down amid oversupply fears from Iran, as Opec decides to maintain production goal

WTI crude fell 0.83% to $58.64 per barrel, while Brent crude for July fell 0.68% to $62.88 as at 1.10am ET.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1G5QjVw June 08, 2015 at 11:56AM http://ift.tt/eA8V8J

John Cryan to be sole head of Deutsche Bank as co-CEOs resign following Libor scandal

Anshu Jain and Juergen Fitschen quit following investors' protest.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1AW3zgB June 08, 2015 at 11:11AM http://ift.tt/eA8V8J

CBI cuts UK growth forecast amid uncertainty over EU referendum and Greek crisis

CBI expects economy to grow at 2.4% in 2015 and 2.5% in 2016, compared to 2.7% and 2.6% forecast earlier.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IoB9LG June 08, 2015 at 10:09AM http://ift.tt/eA8V8J

Forex market: 6 factors that influence exchange rates

Change in currency value mainly depends on demand and supply, as in case of anything else.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IjTQ37 June 06, 2015 at 04:37PM http://ift.tt/eA8V8J

Apple App Store growing by over 1,000 apps per day

In May, there were 40,037 app submissions on App Store, while applications for games totalled 13,905.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ARb20i June 06, 2015 at 03:47PM http://ift.tt/eA8V8J

Nestle hires US public relations specialist APCO Worldwide to handle Maggi crisis

APCO's clients in India include Dow Corning, Walt Disney, Mastercard, Cairn, Welspun and Facebook.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Jy0Gnb June 06, 2015 at 01:05PM http://ift.tt/eA8V8J

China accounted for 25% of global industrial robot purchases in 2014

Sales of industrial robots in China hit 57,000 in 2014, marking year-on-year increase of 55% and quarter of global sales.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KT4XDC June 06, 2015 at 12:03PM http://ift.tt/eA8V8J

IMF agrees $833m loan for Iraq amid Isis conflict and lower oil prices

Agreement expected to be submitted to IMF executive board for consideration.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1cDiVKY June 06, 2015 at 11:26AM http://ift.tt/eA8V8J

Nestle continues to defend Maggi noodles amid pullout from India market

Nestle's global CEO Paul Bulcke says company wants recalled Maggi noodles back on shelves as soon as possible.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JvMmMc June 05, 2015 at 04:11PM http://ift.tt/eA8V8J

India asks for oil price concessions from Opec

With its ever-increasing oil demand, India is expected to become prime customer for Opec members.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FYKZDi June 05, 2015 at 01:22PM http://ift.tt/eA8V8J

Apple Pay: Two-thirds of top US retailers not to accept mobile payment service in 2015

Insufficient customer demand, lack of access to data generated in Apple Pay transactions and cost of technology are discouraging retailers.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1RO9atx June 05, 2015 at 12:05PM http://ift.tt/eA8V8J

Fifa in Crisis: Corruption scandal highlights 'complicity' of global banking system

Financial reform organisation Jubilee USA Network says corruption is aided by US banks.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ARe6cv June 05, 2015 at 11:29AM http://ift.tt/eA8V8J

US SEC probes activist investors for possible secret collaboration to target firms

SEC's enforcement division has recently opened multiple investigations and sent requests for information to number of hedge funds.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1RO1nfg June 05, 2015 at 10:37AM http://ift.tt/eA8V8J

US hedge fund Elliott Associates criticises $8bn merger of Samsung affiliates

Samsung C&T's proposed merger with Cheil Industries is widely seen as owning family's attempt to consolidate conglomerate's control.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1BLvvhP June 04, 2015 at 01:15PM http://ift.tt/eA8V8J

Yahoo wins exclusive rights to stream live 25 October NFL game in London

Game between Buffalo Bills and Jacksonville Jaguars will be available in Web browser, within Yahoo app on mobile phone, or on television equipped for streaming video.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KbfyZo June 04, 2015 at 11:59AM http://ift.tt/eA8V8J

Japan's Rakuten to raise $1.5bn via share sale aiming to become 'world's No. 1 internet services company'

Rakuten shares plunged more than 6% after news of shareholding dilution.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HLu8St June 04, 2015 at 11:17AM http://ift.tt/eA8V8J

Dish Network and T-Mobile US in multi-billion-dollar merger talks

Parties are yet to agree on purchase price and mix of cash and stock that would be used to pay for deal.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KFD5zM June 04, 2015 at 10:40AM http://ift.tt/eA8V8J

Nestle India shares plunge 10% amid food safety woes over Maggi noodles

Maggi noodles contribute more than 20% of Nestle's revenues in India, according to analysts.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1K8Q6DL June 03, 2015 at 12:35PM http://ift.tt/eA8V8J

US think tank: More than half of Britons want to stay in EU

Pew Research Center survey shows 55% of Britons want to remain in the EU, while 36% want to leave.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1dL1HNd June 03, 2015 at 11:55AM http://ift.tt/eA8V8J

HSBC Swiss leaks: Belgium to recover €540m in unpaid tax from account holders under probe

Affected people include diamond merchants, lawyers, aristocrats, company heads and sports personalities.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JjIKOO June 03, 2015 at 11:00AM http://ift.tt/eA8V8J

Teva to further increase stake in Mylan ahead of possible tender offer

Teva's acquisition of more stake in Mylan could pose legal challenge to generics drugmaker, Reuters reports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JoUoq6 June 03, 2015 at 10:46AM http://ift.tt/eA8V8J

China's Alibaba opens office in Russia

Alibaba is already present in Russia via its online store AliExpress.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1M08X2x June 02, 2015 at 04:40PM http://ift.tt/eA8V8J

Chinese travel site Qunar raises $500m from investors led by Silver Lake

Silver Lake invests $330m in Qunar's convertible bonds and another undisclosed investor puts in $170m.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HI6dDx June 02, 2015 at 03:25PM http://ift.tt/eA8V8J

HSBC expected to announce 10,000-20,000 job cuts next week

Stuart Gulliver, HSBC's chief executive, will set out revised target for headcount reductions.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1BFx3tZ June 02, 2015 at 10:33AM http://ift.tt/eA8V8J

IMF: Oil price decline has limited effect on Saudi Arabian economy

Increase in oil production and continued government spending will help support country, says IMF.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1M65vE4 June 02, 2015 at 09:46AM http://ift.tt/eA8V8J

China and South Korea sign FTA allowing preferential tariffs for products from Kaesong industrial park

FTA allows preferential tariffs for 310 products manufactured in industrial park located in North Korea's border town of Kaesong.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ct9uOk June 01, 2015 at 03:44PM http://ift.tt/eA8V8J

Citigroup likely to shut down Banamex USA over weak money laundering controls

Banamex USA has been accused of its weak money laundering controls and is facing number of probes.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ENjqbS June 01, 2015 at 02:50PM http://ift.tt/eA8V8J

Nestle India faces criminal complaint over high lead levels in Maggi two-minute noodles

Food-safety officials registered complaint against Nestle India, while Uttarakhand Food Safety Department initiated probe.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1dG2wai June 01, 2015 at 12:57PM http://ift.tt/eA8V8J