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Business
Under-fire G4S head steps down
last Wednesday
21 May 2013 G4S, the British firm embroiled in a security fiasco at the London 2012 Olympics, said on Tuesday that its under-fire chief executive Nick Buckles will step down. “G4S today announces that Nick Buckles will step down as CEO (chief executive) and retire from the... Full story
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Business
Chevron nears sale of Egypt, Pakistan assets
last Wednesday
22 May 2013 Chevron Corp is in advanced talks to sell its downstream assets in Egypt and Pakistan, three sources said, with the planned disposals seen raising around $300 million for the US oil major. Chevron, the second-largest US oil company, is conducting a separate sale process for its... Full story
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Business
India cuts rate, but warns of risks
last Wednesday
India’s central bank cut its main interest rate by 25 basis points on Friday in the third such move this year, but said there was “little space” for further reductions to help the slowing economy. After meeting in the financial capital Mumbai, the Reserve Bank of India (RBI)... Full story
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Business
Bankers whisper : Spain’s bailout bill could rise
last Wednesday
6 May 2013 Spain’s bill to bail out its banks may yet rise, some bankers and analysts fear, as a worsening economy hampers the government’s early attempts to sell off nationalised lenders and threatens the “bad bank” housing their rotten property deals. Spanish banks... Full story
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Business
Australia central bank mutes outlook
last Wednesday
Australia’s central bank scaled back its forecasts on Friday, warning of muted growth and a “subdued” outlook as the commodities-driven economy transitions away from mining. xThe Reserve Bank of Australia said it expected growth of 2.5 percent and inflation of 2.25 percent... Full story
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Business
HSBC boss can do more to cut bank down to size
last Wednesday
HSBC’s sale of a stake in a Korean insurer last month was made with little fanfare, just one of 52 deals struck or businesses closed in the last two years by Chief Executive Stuart Gulliver, and analysts are expecting more. With less than a year left of his 3-year restructuring plan,... Full story
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Business
Lloyds Banking Group says chairman to retire
last Wednesday
Lloyds Banking Group said on Monday that chairman Winfried Bischoff will retire from the post by the middle of next year after overseeing a partial turnaround of the state-rescued British bank. “The board of Lloyds Banking Group announces that its chairman since September 2009, Sir... Full story
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Business
Equities close at low of one week
last Wednesday
22 May 2013 Indian shares tumbled for a second consecutive session on Tuesday hitting their lowest close in a week as recent outperforming blue-chips such as ITC fell on doubts about whether foreign investors will continue their strong buying so far. While domestic institutional selling may... Full story
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Business
Gold down 1% on firm greenback
last Wednesday
22 May 2013 Gold, down in seven of its last eight sessions, was off by around one per cent on Tuesday morning on a firm dollar, weak technical signals and speculation that the US Federal Reserve might rein in its stimulus programme. Spot gold hit a session low of $1,377.04 an ounce and was... Full story
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Business
Crude falls on concerns over QE scale back
last Wednesday
22 May 2013 Brent oil futures fell towards $104 per barrel on Tuesday, on concerns that the US Federal Reserve might scale back its quantitative easing programme, which could damage fragile demand. Front-month Brent futuresfell 66 cents to $104.14 per barrel by 1034 GMT, after touching ... Full story
Saturday May 25, 2013
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