Saudi Arabia’s largest and longest debt saga, fueled by a feud that has split one of its richest families, could be nearing a resolution after a court approved about $14 billion in claims related to the collapse of two business empires a decade ago.
Saudi Arabia’s largest and longest debt saga, fueled by a feud that has split one of its richest families, could be nearing a resolution after a court approved about $14 billion in claims related to the collapse of two business empires a decade ago. The Saudi court has accepted more than $7 billion in claims from creditors against the Algosaibi family’s conglomerate AHAB, and about $6.5 billion against tycoon Maan al-Sanea and his company Saad Group, two court documents seen by Reuters showed. A court-driven end to the saga would not only offer some relief to those creditors, …read more […]
Goldman Sachs Group Inc said on Tuesday it renamed its main business units ahead of its quarterly results next week, as part of the Wall Street bank’s efforts to provide greater transparency for investors into its financial performance.
The bank said it would report its future earnings, starting with the latest December quarter, under the newly named business units – investment banking, global markets, asset management and consumer & wealth management. Goldman renamed its institutional client services business as global markets, while investment management has been renamed as asset management, the bank said in a regulatory filing. …read more […]
South Korean panel maker LG Display Co Ltd will halt domestic production of liquid-crystal display (LCD) TV panels by the end of this year, its chief executive said on Monday, due to dropping LCD prices and a global supply glut.
Oil shocks aren’t the recession risk that they used to be for the U.S. …read more […]
Boeing’s best-selling plane was grounded in March 2019 after two fatal crashes in which all 346 passengers and crew were killed. There were 387 737 MAX planes being operated by 59 airlines at the time and a backlog of orders worth more than $500 billion at list prices. Aeromexico said on Jan. 6 it had reached a compensation agreement with Boeing over the grounding of the 737 MAX. …read more […]
The island was home to some of the biggest residential property sales in the country. …read more […]
Top news and what to watch in the markets on Tuesday, January 7, 2020. …read more […]
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put… …read more […]
Facebook Inc is setting up a new engineering team in Singapore to focus on its lucrative China advertising business, according to three people familiar with the effort, even as chief executive Mark Zuckerberg ramps up criticism of a country that blocks the social network.
Facebook Inc is setting up a new engineering team in Singapore to focus on its lucrative China advertising business, according to three people familiar with the effort, even as chief executive Mark Zuckerberg ramps up criticism of a country that blocks the social network. The team at Facebook’s Asia-Pacific headquarters is tasked with developing better ad-buying tools for Chinese customers who have to work around internet restrictions in China known as the “great firewall,” the sources said. One of the people described it as Facebook’s first significant attempt at developing regionally localized ads tools outside of its …read more […]
Tokyo prosecutors on Tuesday issued an arrest warrant for Carlos Ghosn’s wife Carole for allegedly lying in testimony, as officials sought ways to bring the fugitive car industry boss back for trial on financial misconduct charges.
Nissan Motor Co has strengthened a taskforce of senior officials ahead of an expected onslaught of criticism from former chairman Carlos Ghosn following his dramatic escape from house arrest in Japan, three sources familiar with the matter told Reuters.
Nissan Motor Co has strengthened a taskforce of senior officials ahead of an expected onslaught of criticism from former chairman Carlos Ghosn following his dramatic escape from house arrest in Japan, three sources familiar with the matter told Reuters. Ghosn, who fled Japan to his home in Lebanon late last month, has said he will hold a press conference on Wednesday to give his side of the story following his arrest in late 2018 for alleged financial misconduct, which he denies. Nissan has denied this, and is bracing for more such allegations. …read more […]
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