Banking industry
Despite a 42% surge in first-quarter revenues, fueled by strong demand for its broadband product, which has attracted 476,000 applications, Carphone Warehouse saw its shares drop 13 3/4p to 271 3/4p. Analysts remained upbeat on the group's progress, with one predicting that the recent acquisition
Banking industry
The biotech industry's initial public offerings (IPOs) have seen a lackluster performance this year, leading Osiris Therapeutics Inc. to reduce its expected revenue from its pending IPO. The Baltimore-based company originally aimed to raise $80 million but now expects to trade in the $11 to $13 range for
Banking industry
El Paso Corp. has chosen to establish separate bank lines via distinct lead arrangers, reflecting a strategic decision to meet its changing financial needs and arrange with experts in the relevant products. The company's B1-rated facilities will be issued through separate agreements with Deutsche Bank, JPMorgan, and Citigroup.
Banking industry
A Dongfeng Motor Group stakeholder has made a significant profit from a share placement, taking advantage of the firm's recent strong run on the stock market. The unidentified shareholder sold 100 million shares at $3.55 each, a 3.4 per cent discount to yesterday's closing
Banking industry
A ruling by US district court judge Denise Cote has declared Deutsche Bank in breach of contract in a credit derivative deal with Ambac, resulting in a loss of almost $9m for the German bank. The case highlights the risks associated with sloppy back-office practices in the booming credit derivatives
Banking industry
The Asian Development Bank (ADB) has announced a $600,000 technical assistance grant to support small and medium enterprise (SME) development in Viet Nam. The grant will be used to design an ADB investment project to develop the leasing industry and support the implementation of an ongoing ADB program. The
Banking industry
Bank Indonesia Deputy Governor Aslim Tadjuddin has expressed a confident stance on the country's economic resilience in the face of the US Federal Reserve's interest rate hike. According to Tadjuddin, the market's anticipation of the rate increase and the signal of a potential shift
Banking industry
China's state auditor general, Li Jinhua, has exposed massive misappropriation of funds meant for road construction, amounting to 1.64 billion yuan (US$205 million). The misappropriated funds were used for administration, official bonuses, and other construction projects. Li's annual state audit report to the legislature
Banking industry
Hyundai Motor Chairman Chung Mong-koo, 68, has been granted bail by a Seoul court and released from prison after two months of detention. The decision was made due to his deteriorating health and the potential impact on the conglomerate and national economy. Chung was arrested on April 28 on embezzlement
Banking industry
PCCW, Hong Kong's dominant phone operator, is in advanced talks to sell its fixed-line network, Sunday mobile service, and broadband television business to Macquarie Bank's private equity arm for $40 billion. This sale would mark a significant shift in the company's strategic direction, coming
Banking industry
British ports operator AB Ports is at the centre of a high-stakes bidding war after Macquarie Bank's consortium, led by the Australian investment firm, trumped Goldman Sachs' offer with a proposed £2.7bn bid. The move comes after AB Ports accepted a lower offer from Admiral, the
Banking industry
Macquarie Bank, the Australian banking giant, is eying the UK's largest port operator, Associated British Ports Plc, in a potentially massive acquisition deal worth STG2.45 billion ($US4.52 billion). The move follows a bid by Admiral Acquisitions, a consortium that includes Goldman Sachs, which was accepted by
