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 Latest Business and Finance News
Asian shares cautiously push higher [Reuters]
TOKYO (Reuters) - Asian shares edged higher on Monday, with investors wary of a deepening crisis in ...Detail
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China banks seek new lending horizons as bad debts rise  [Reuters] 31 Aug, 2014
SHANGHAI/HONG KONG (Reuters) - Grappling with a slowing economy, China's biggest banks are turning their back on mainstay borrowers like manufacturers and courting high growth industries such as healthcare, food and IT in a b ...
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Barclays sells Spanish businesses  [BBC News] 31 Aug, 2014
Barclays Bank sells Spanish businesses for 633m to the country's third largest lender CaixaBank.
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Virgin Money eyes 2 billion pound stock market listing: Sky News  [Reuters] 31 Aug, 2014
(Reuters) - Virgin Money [NRTRK.UL], the British financial services company partly owned by Sir Richard Branson, is in talks over a possible 2 billion pound ($3.32 billion) stock market listing as early as next month, Sky News rep ...
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Tantrums, concubines, hotpot burns and smog: China insurers have it covered  [Reuters] 31 Aug, 2014
HONG KONG (Reuters) - Your child throws a tantrum and smashes something? Take out "naughty child insurance". Similarly, buy cover against your bride becoming pregnant before the honeymoon, your team being knocked out of the soccer ...
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Weak data to test BOJ's rosy economic view, policy on hold  [Reuters] 31 Aug, 2014
TOKYO (Reuters) - The Bank of Japan will maintain its existing stimulus policy and optimistic economic view on when it meets on Thursday, sources say, preferring to take more time to gauge whether a run of weak data is sufficient ...
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Britain's Barclays to sell Spanish assets to Caixabank  [Reuters] 31 Aug, 2014
MADRID (Reuters) - Britain's Barclays is selling its Spanish retail and corporate banking operations to Caixabank , the two lenders said on Sunday, as it continues a major restructuring and shrinks some of its struggling Euro ...
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Exclusive: Norwegian Cruise nears $3 billion Prestige Cruises deal - sources  [Reuters] 31 Aug, 2014
(Reuters) - Norwegian Cruise Line Holdings Ltd , the world's third largest cruise operator, is in advanced talks to acquire peer Prestige Cruises International Inc for around $3 billion, according to people familiar with the ...
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Merkel unhappy with Draghi's apparent new fiscal focus - Spiegel  [Reuters] 31 Aug, 2014
BERLIN (Reuters) - A German news magazine reported on Sunday that Chancellor Angela Merkel is unhappy with European Central Bank chief Mario Draghi for apparently proposing a greater emphasis on fiscal stimulus over austerity in o ...
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UK businesses 'want new EU deal'  [BBC News] 31 Aug, 2014
Donald Tusk Most British businesses want the UK to renegotiate its relationship with the EU, according to a British Chambers of Commerce survey.
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Merkel unhappy with Draghi's apparent new fiscal focus : Spiegel  [Reuters] 31 Aug, 2014
BERLIN (Reuters) - A German news magazine reported on Sunday that Chancellor Angela Merkel is unhappy with European Central Bank chief Mario Draghi for apparently proposing a greater emphasis on fiscal stimulus over austerity in o ...
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Passive funds an active threat for Europe's fund managers  [Reuters] 31 Aug, 2014
LONDON (Reuters) - Warren Buffett built a fortune of nearly $60 billion from astute stock picking, but when the 83-year-old dies, the vast majority of the money he leaves his wife will be parked in a fund that simply moves in step ...
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Merkel unhappy with Draghi's apparent new fiscal focus: Spiegel  [Reuters] 31 Aug, 2014
BERLIN (Reuters) - A German news magazine reported on Sunday that Chancellor Angela Merkel is unhappy with European Central Bank chief Mario Draghi for apparently proposing a greater emphasis on fiscal stimulus over austerity in o ...
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French PM says ECB must do more to tackle overvalued euro  [Reuters] 31 Aug, 2014
PARIS (Reuters) - French Prime Minister Manuel Valls reiterated on Sunday calls for the European Central Bank to go "further" in tackling the problem of an overvalued euro.
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Swatch prefers go-it-alone route for smartwatch plans  [Reuters] 31 Aug, 2014
BIEL (Switzerland) (Reuters) - Swatch Group is happy to go it alone with a launch next year of watches with "smart" features to compete with so-called wearable gadgets from the big tech companies, a market potentially worth $93 bi ...
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Investors' eyes pinned on ECB as Europe's health deteriorates  [Reuters] 31 Aug, 2014
BRUSSELS (Reuters) - The European Central Bank meeting on Thursday is the prime event for markets seeking clarity on the bank's response to a stalled recovery, disappearing inflation and the sluggish pace of reform in the eur ...
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Information Minister strongly condemns torture on media persons  [Business Recorder] 31 Aug, 2014
ISLAMABAD: Federal Minister for Information, Broadcasting and National Heritage Senator Pervaiz Rashid on Sunday strongly condemned torture on media persons in Islamabad.In a statement, the minister said that the federal governmen ...
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Worried EU leaders call jobs, growth summit for October 7: draft  [Reuters] 30 Aug, 2014
BRUSSELS (Reuters) - European Union leaders are set to hold an emergency summit on promoting growth and jobs on Oct. 7 at the suggestion of Italy, according to a draft of a statement to be issued after an EU summit on Saturday.
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Alibaba aims to launch share sale in early September: source  [Reuters] 30 Aug, 2014
HONG KONG (Reuters) - Chinese e-commerce company Alibaba Group Holding Ltd is planning to launch its New York stock market debut in the week of Sept. 8, a person briefed on the matter told Reuters on Saturday.
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Fiat-Chrysler sees New York stock market listing on October 13  [Reuters] 30 Aug, 2014
RIMINI Italy (Reuters) - Fiat-Chrysler aims to list shares in the newly merged carmaker in New York on Oct. 13, Chief Executive Sergio Marchionne said on Saturday, adding that a decision on any capital increase would be made at th ...
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All formalities for Federal Women University to complete till September: Ahsan Iqbal  [Business Recorder] 30 Aug, 2014
ISLAMABAD: Federal Minister for Planning Development and Reforms Ahsan Iqbal on Saturday said all formalities for upgradation of Islamabad Model College for Girls F/7-2 to Women University, should be completed in September.Chairin ...
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Govt determined to provide healthcare facilities to common man: Shahbaz  [Business Recorder] 30 Aug, 2014
LAHORE: Punjab Chief Minister Muhammad Shahbaz Sharif has said that development of health sector is the priority of the government and it is determined to reform health sector and provide modern health services to the common man. ...
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Co-op Group votes through reforms  [BBC News] 30 Aug, 2014
Members of the troubled Co-operative Group vote overwhelmingly in favour of reforming how the business is run.
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Fiat-Chrysler CEO says October 13 is possible date for Wall Street IPO  [Reuters] 30 Aug, 2014
MILAN (Reuters) - The chief executive of Fiat-Chrysler, Sergio Marchionne, said on Saturday October 13 was the first possible date for the group to launch its initial public offering on Wall Street.
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Fiat-Chrysler CEO says shareholders backing of merger is 'huge step ahead'  [Reuters] 30 Aug, 2014
RIMINI Italy (Reuters) - The fact that most Fiat shareholders chose not to exercise an option that could derail a merger with its U.S. unit Chrysler is a "huge step ahead" for the car maker, Fiat and Chrysler Sergio Marchionne sai ...
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Few thousand people have no right to remove PM by sit-ins: Khuhro  [Business Recorder] 30 Aug, 2014
KARACHI: Senior Provincial Minister for Education and Literacy Nisar Ahmed Khuhro on Saturday said a few thousand people have right to remove an elected prime minister through sit-ins as the Constitution only authorises the parlia ...
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China graft watchdog probes another executive at Chinese car maker  [Reuters] 30 Aug, 2014
BEIJING (Reuters) - China's anti-graft watchdog has said it is investigating a former senior executive at FAW Group Corp. for corruption, the latest target in a widening probe against the company.
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Alibaba set to launch IPO roadshow week of September 8: New York Times  [Reuters] 30 Aug, 2014
HONG KONG (Reuters) - Chinese e-commerce company Alibaba Group Holding Ltd is set to start formally pitching its New York initial public offering to investors in the week of Sept. 8, the New York Times reported, citing an unnamed ...
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Engineers body shows concern over poor maintenance of civic facilities in Federal Capital  [Business Recorder] 30 Aug, 2014
ISLAMABAD: Institution of Engineers Pakistan (IEP) Rawalpindi-Islamabad chapter has expressed serious concern over poor maintenance of civic facilities including roads and footpaths in the Federal Capital.Talking to a group of jou ...
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Inaugural Hajj flights from Benazir Bhutto Airport leaves for Jeddah on Sunday  [Business Recorder] 30 Aug, 2014
ISLAMABAD: The first Hajj flight SV-727 will leave here on Sunday for Jeddah, Saudi Arabia kicking off the month-long pre-Hajj operation to airlift 28,072 intending pilgrims to holy land for Hajj-2014 from Benazir Bhutto Internati ...
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Indian investigators drop coal scam case against billionaire Birla  [Reuters] 30 Aug, 2014
NEW DELHI (Reuters) - India's Central Bureau of Investigation (CBI) has closed a coal scam case against billionaire Kumar Mangalam Birla and a former top bureaucrat that emerged in 2012 after an auditor's report on reven ...
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