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  • HONG KONG, March 18- Chinese banks have extended Evergrande Real Estate Group 100 billion yuan in credit, as the slump in China's key real estate sector extends to one of the biggest and most indebted property developers. Evergrande, China's fourth largest property developer by sales, said the credit lines had been extended by four state-owned banks since...

  • NEW YORK, March 17- Citigroup Inc said on Tuesday it plans to exit its custody business in Argentina as soon as possible, after a U.S. judge refused to lift an injunction that blocked the bank from processing interest payments on $2.3 billion of Argentina bonds. In a defeat for the bank, clients and Argentina itself, Citigroup said it made its decision in light of U.S.

  • NEW YORK, March 17- Cerberus Capital Management and Solus Alternative Asset Management on Tuesday proposed a new plan to restructure bankrupt wireless venture LightSquared, with the support of billionaire Charles Ergen, LightSquared's largest lender. The plan is designed to compete with a LightSquared-backed one whose fairness is the subject of an...

  • LONDON, March 17- Russian billionaire Mikhail Fridman is preparing to sell North Sea gasfields at the heart of its fierce battle in Britain, bowing to government pressure and choosing to avoid a legal battle he previously threatened, the Financial Times reported. The FT cited sources familiar with the plans as saying Fridman's LetterOne Group is close to...

  • NEW YORK, March 17- Citigroup Inc said on Tuesday it plans to exit its custodial business in Argentina as soon as possible, after a U.S. judge refused to lift an injunction that blocked the bank from processing interest payments on $2.3 billion of Argentina bonds. In a defeat for the bank, clients and Argentina itself, Citigroup said it made its decision in light of...

  • UPDATE 1-Citigroup to exit Argentina custody business Tuesday, 17 Mar 2015 | 9:42 AM ET

    NEW YORK, March 17- Citigroup Inc said on Tuesday it plans to exit its custodial business in Argentina as soon as possible, after a U.S. judge refused to lift an injunction that blocked the bank from processing interest payments on $2.3 billion of Argentina bonds. District Judge Thomas Griesa in Manhattan, Citigroup said it made its decision in light of his March 12...

  • SHARM EL-SHEIKH, March 14- One of Egypt's leading businessmen said on Saturday the country needs to fire inefficient civil servants to attract investment and strengthen the economy. Foreign investors have criticised bureaucracy and a bloated civil service of about seven million in Egypt, the most populous Arab country. "Changing the mindset of all the...

  • NEW YORK, March 13- U.S. authorities investigating potential manipulation of Herbalife Ltd's shares by consultants working for billionaire investor William Ackman will find it difficult to prove that false statements were deliberately made to drive down the company's value, securities lawyers said. Attorney Preet Bharara have been examining whether the...

  • March 13- Billionaire investor Bill Ackman said some people hired by a consulting group working for his hedge fund had received subpoenas from federal agencies investigating possible manipulation of Herbalife Ltd's stock. Herbalife's shares rose more than 15 percent after the Wall Street Journal reported late on Thursday that federal prosecutors and...

  • The investor, who is short on Herbalife's shares, said he could not be certain if these people had made false statements to regulators about the company's business model. Ackman has been betting against Herbalife's shares since 2012, claiming the company is a pyramid scheme- where new investors unwittingly fund the profits of older investors.

  • March 13- Billionaire investor William Ackman said he had not been contacted by federal agencies investigating possible manipulation of Herbalife Inc's stock. Federal prosecutors and the Federal Bureau of Investigation have interviewed people hired by Ackman for an investigation on whether they made false statements about Herbalife's business model...

  • NEW YORK, March 12- A federal judge on Thursday said Citigroup Inc cannot process interest payments by Argentina on some bonds issued under that country's law, a defeat for the cash-strapped nation as it attempts to re-enter international debt markets. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called...

  • In an interview, Vazquez Aldir acknowledged the threat posed to free-to-air TV by new technologies including Netflix, and said the company might at some point follow in the footsteps of Televisa, by looking to move into the more lucrative telecoms market. Vazquez Aldir said he had not spoken with Slim or any other telecom companies. Grupo Imagen expects to...

  • NEW YORK, March 12- A federal judge on Thursday said Citigroup Inc cannot process interest payments by Argentina on some bonds issued under that country's law, a defeat for the cash-strapped nation as it tries to reenter international debt markets. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called...

  • NEW YORK, March 12- A federal judge on Thursday said Citigroup Inc cannot process interest payments by Argentina on some bonds issued under that country's law, a defeat for the cash-strapped nation as it tries to reenter international debt markets. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called...

  • LONDON, March 12- British retailer Philip Green said on Thursday his struggling department store chain BHS had been acquired by buyout firm Retail Acquisitions. Billionaire Green, whose family owns the Topshop-to-Dorothy Perkins Arcadia Group, gave no financial details about the deal, after saying in January that several groups had expressed interest in...

  • March 12- Ride-sharing service Lyft said it raised an additional $530 million in a funding round led by Japanese online retailer Rakuten Inc, giving the Uber rival a valuation of $2.5 billion and adding momentum to its expansion plans. Rakuten said it is investing $300 million for an 11.9 percent stake in San Francisco- based Lyft- its first investment in a...

  • March 11- Cloud storage provider Box Inc posted a bigger loss due to higher operating expenses, in its first quarterly report as a public company. Founded in 2005 by Levie, a University of Southern California dropout, and his friend Dylan Smith, Box competes with privately-held Dropbox, Google Inc's Drive and Microsoft Corp's OneDrive. Box, whose customers...

  • MIAMI, March 11- The former chief executive of Norwegian Cruise Line Holdings Ltd sued Richard Branson's Virgin Group in federal court in Miami for $300 million on Wednesday over plans by the British billionaire to launch his own luxury cruise line. Virgin Group announced the Bain Capital- backed cruise line project last December. As CEO of the new Virgin...

  • MOSCOW, March 11- Glencore is to take a 49 percent stake in Russian oil producer Russneft as a result of a restructuring, its owner said on Wednesday, despite fears that an escalating conflict between Moscow and the West over Ukraine could lead to wider sanctions against the Kremlin. The non-cash transaction will convert shares Glencore has held for the past...