Japan Display Inc said it aims to clinch a deal this month for least 50 billion yen ($470 million) in vital funding, having had to scramble after an investment group suddenly pulled out of a bailout plan for the Apple Inc supplier.
(Bloomberg) — The battle for control of Osram Licht AG is set to enter a new round after Austria’s AMS AG vowed to keep fighting after a sweetened 4 billion euro ($4.4 billion) offer failed.AMS, a supplier to Apple Inc., will seek a regulator nod to raise its 19.99% stake in Osram. As the biggest shareholder in the German lighting maker, AMS’s approval has become key for any would-be rival bidder. Osram has said private equity investors Bain Capital and Advent International are inspecting its books with a plan to make an offer.“We doubt private equity will launch a superior …read more […]
Oil prices were up on Monday, buoyed by hopes of progress in U.S.-China trade talks and supported by challenges to supply facing major exporters.
Deutsche Bank is creating a new technology division in a strategy shift designed to reduce complexity and lower costs while transforming systems that have held back the bank for years.
(Bloomberg) — A growing number of German banks are passing on negative interest rates to their retail customers as the costs become too high to bear on their own.Berliner Volksbank, the country’s second-largest cooperative lender, started to apply a minus 0.5% rate on deposits exceeding 100,000 euros ($110,000) in its first charge for retail clients. The move may encourage other lenders to follow suit, with both Deutsche Bank AG and Commerzbank AG signaling that they’re warming to the idea.“Things are changing in the industry and we expect further negative interest rates, especially since one of the major cooperative lenders has …read more […]
Global stocks were little changed on Monday as broadly positive U.S. jobs data quelled some fears about an economic slowdown, but nervousness over U.S.-China trade talks persisted and more weak European economic data trickled in.
Tesco’s financial arm intends to appoint John Kingman, the businessman who oversaw Britain’s bailout of its banks during the financial crisis, as its chairman, a source with knowledge of the matter told Reuters.
IKEA brand owner Inter IKEA could be ordered to pay millions of euros in Dutch back taxes by the end of the year, two people familiar with the matter said, as EU competition enforcers push on with their crackdown against unfair tax deals granted to multinationals.
(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.For post-Brexit Britain, the kindness of strangers and their money will be more vital than ever.Prime Minister Boris Johnson has amped up his rhetoric that the U.K. will leave the European Union at the end of this month — even if there is no basis for a future relationship. In the worst-case scenario, a chaotic exit followed by ratings downgrades, a plunge in the pound, a government boosting spending and a central bank struggling to support markets could see capital flee from …read more […]
The head of Lebanon’s central bank said on Monday it is continuing to provide dollars to local financial markets, adding the country has “numerous possibilities” as it looks for assistance to curb a sharp loss of investor confidence. “We know there is a lot of noise about the monetary situation, however the capacities are available and we are continuing to secure dollars to the markets in Lebanon,” Banque du Liban Governor Riad Salameh, who is in the United Arab Emirates for meetings, said in comments to journalists distributed by Tele Liban. Asked if the UAE may provide Lebanon …read more […]
Chinese officials are signaling they’re reluctant to agree to the kind of broad trade deal that President Trump wants. …read more […]
Volvo Cars will merge its engine development and manufacturing assets with those of parent Geely, creating a division to supply in-house brands Lotus, LEVC, Lynk and Proton, and also potential rivals with next-generation combustion and hybrid engines. It marks the latest example of consolidation in the engine manufacturing sector as tighter emissions rules hike development costs at a time when the expansion of electric cars calls into question the long-term demand for ga
Washington’s latest accusation that China is dumping wooden cabinets and vanities on U.S. shores sums up the mood between the two warring sides as they head into another round of high-level discussions. The talks in Washington on Oct. 10-11 will be led from the Chinese side by President Xi Jinping’s top economic adviser, Vice Premier Liu He. Investors’ expectations are low, given Trump’s penchant for impulsive forays in the nearly two years of on-again, off-again negotiations. …read more […]
Singapore’s economy likely escaped a technical recession in the third quarter even as growth stayed subdued, weighed down by the prolonged trade dispute between the United States and China, a Reuters poll showed. Gross domestic product (GDP) is expected to have increased 1.5% on a quarter-on-quarter, seasonally adjusted and annualised basis in July-September, according to the median forecast of 11 economists in the poll. “Third-quarter GDP is expected to stay weak and narrowly dodge a technical recession,” said Lee Ju Ye, an economist with Maybank Kim Eng. …read more […]
SoftBank Group CEO Masayoshi Son said is “embarrassed and flustered” by his track record, in comments to Nikkei Business magazine.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
