Banking industry
Despite initial concerns, several deals managed to substantially increase their requested amounts, resulting in a profitable week for issuers. Royal Numico N.V. and Origin Energy saw their deals upsized, with Royal Numico increasing its requested $300 million to $450 million and Origin Energy's $150 million being raised
Banking industry
Market conditions, particularly China's slowing economic growth and interest rate hikes, are putting a premium on attractive valuations for listing candidates, say fund managers. China Shenhua Energy, Bank of Communications, and Cosco Holdings are expected to face a challenging equity market and need to offer more competitive pricing
Banking industry
British American Tobacco has ended relationships with long-time corporate advisers Lazard and Goldman Sachs, opting for new partners HSBC and Deutsche Bank. The switch comes as the company seeks to expand its global operations, particularly in Asia, where it faces challenges with bureaucracy. BAT aims to invest £800 million in
Banking industry
As China's banks come online with a new trading system, analysts say it's a crucial step in preparing the country's markets for the eventual flotation of the renminbi. The China Foreign Exchange Trade System, a subsidiary of the Peoples Bank of China, has launched
Banking industry
South Korea's foreign reserves saw a drop in mid-May from two weeks earlier, attributed to a stronger US dollar that eroded the value of non-dollar assets. The country's foreign reserves stood at $205.8 billion as of Sunday, a $0.6 billion decline from the $206.
Banking industry
Rotherham's Station Street branch of Yorkshire Bank is one of 40 branches set to close in a major rationalisation programme by National Australia Bank, putting 1,700 jobs at risk across the UK. The branch in Swinton, an area with a high population of older residents, will be
Banking industry
The Australian stock market closed higher on May 11, driven by investors' positive response to the federal budget, which was seen as beneficial for future investment. The National Australia Bank (ASX:NAB) recorded a record first-half profit, and the bank's decision to slash costs by axing thousands
Banking industry
The Australian construction sector has been heading towards the bottom of its current slowdown, with the Reserve Bank of Australia (RBA) increasingly likely to leave interest rates on hold. Despite a 6.8% decline in building approvals in March, seasonally adjusted, and a 19.1% fall in the year to
Banking industry
A proposal by General Property Trust (GPT) to internalise the management of the trust, with a new company owned by GPT unitholders, is set to go to a unitholder vote on June 2. The move, which is seen as being in the best interests of unitholders, would also involve a
Banking industry
As the stock market continues to show signs of life, shares of top companies are rising with optimism. Pearson, the British publisher, has seen a 1.2% increase in its stock price to $12.15, hailing the expected recovery in corporate advertising. French telecommunications equipment maker Alcatel SA has also
Banking industry
Investment banks involved in financing the $11.3 billion purchase of US data storage group SunGard are struggling to find buyers for the debt, raising concerns about the impact of a downturn in high-yield markets on large private equity deals. The banks, including Deutsche Bank, JPMorgan, and Citigroup, are attempting
Banking industry
Bank of China, the country's largest foreign-currency lender, has reported a significant increase in pre-tax profit for the first quarter, despite facing several high-profile scandals and publicly announcing plans for an initial public offering (IPO). The bank's pre-tax profit rose by 45.8% year-over-year, reaching 19.
