Business & Finance News
Many investors are shunning the riskiest corners of the junk-rated U.S. corporate loan market because of concerns about possible credit rating downgrades, putting the brakes on a run of leveraged buyouts and debt-funded dividends.
Dutch technology company Prosus NV on Wednesday urged shareholders of Britain’s Just Eat PLC to accept its unsolicited 4.9 billion pound ($6.3 billion) cash bid for the company by Dec. 10, and spurn an alternative offer as too risky.
Loss-making Norwegian Air has appointed a new chief executive to take charge of the budget carrier’s ongoing restructuring, the board said on Wednesday.
Chinese e-commerce giant Alibaba Group raised up to $12.9 billion in a landmark listing in Hong Kong, the largest share sale in the city in nine years and a world record for a cross-border secondary share sale.
Swedbank pledged on Wednesday to conclude an internal probe into alleged money laundering at the Swedish lender by early next year, and said it was unaware of any breaches of U.S. sanctions after a broadcaster alleged such a lapse.
Emirates unveiled an $8.8 billion order for 30 Boeing 787-9 Dreamliners after intense last-minute talks at the Dubai Airshow on Wednesday, paving the way for a reduction in orders for the delayed 777X airliner.
Unions are escalating a crippling strike at South African Airways (SAA) after talks broke down, leaving the state-run carrier at risk of liquidation without a government guarantee to secure bank funding, a board member said.
World stocks were knocked off 22-month highs on Wednesday as a renewed flare-up in Sino-U.S. tensions and the creeping return of U.S. recession fears fueled a bid for bonds and other “safe” assets such as gold.
The head of the U.S. Federal Aviation Administration (FAA) said the FAA will be tougher on the certification of the Boeing 777x, speaking at the Dubai Airshow on Wednesday.
A strike certificate has been issued at South African airline Comair as part of a secondary strike against South African Airways, a spokeswoman for the National Union of Metalworkers South Africa said on Wednesday.
Swedbank said on Wednesday it was not aware of any violations by the bank of U.S. sanctions against Russia but said it continued to investigate money laundering after a Swedish television report that alleged such a breach.
Emirates airline will restart its expansion by the early 2020s, company President Tim Clark said on Wednesday at the Dubai Airshow.
Strikes at Lufthansa units Eurowings, Germanwings Cityline and Sunexpress remain possible despite arbitration talks at the German carrier, a spokesman for trade union UFO said on Wednesday.
Chinese e-commerce giant Alibaba Group will raise up to $12.9 billion from its landmark Hong Kong listing and is set to price its shares at a 2.8% discount to their New York close, sources with direct knowledge of the matter said.
Emirates and Boeing were poised on Wednesday to seal a compromise deal that would see the Dubai carrier order around 30 787 Dreamliners, paving the way for a reduced order for delayed 777X jets, people familiar with the matter said.
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