Royal Bank of Scotland will pay $100 million to resolve U.S. probes into whether the bank violated U.S. sanctions laws against Iran, Sudan, Burma and Cuba.» Read More
NEW YORK-- Shipping company Scorpio Bulkers Inc. boosted the size of its initial public offering to and priced the offering at $9.75 per share, which is expected to raise $305.2 million in proceeds.
TORONTO, Dec 12- Lululemon Athletica Inc warned on Thursday it expects flat same-store sales in the crucial fourth quarter due to "macro and execution issues" and cut its full-year outlook, sending shares of the trendy Canadian yogawear chain tumbling.
DELHI/ MUMBAI, Dec 12- Symbols of India's emergence as an economic powerhouse line the four-lane highway to Jaipur out of New Delhi: a factory owned by the world's biggest motorbike maker, glass towers housing global call centres, shopping malls for India's burgeoning middle class.
WASHINGTON, Dec 11- Royal Bank of Scotland Group Plc will pay $100 million to resolve U.S. probes into the bank's dealings with Sudan, Iran, and other sanctioned countries, U.S. authorities said on Wednesday.
WASHINGTON, Dec 11- Royal Bank of Scotland Group Plc will pay $100 million to resolve U.S. probes into whether the bank violated U.S. sanctions against Iran, Sudan, Myanmar and Cuba, U.S. authorities said on Wednesday.
LONDON/ SINGAPORE, Dec 11- Recent declines in European and Asian steel prices are not likely to derail a modest market recovery over the past five months, but instead these prices are expected to rise to narrow the gap with higher U.S. levels.
NEW DELHI, Dec 11- India's industrial production is expected to have contracted for the first time in four months in October, a Reuters poll showed, a sign the economy remains fragile despite a modest rebound in the September quarter.
*CPI data due on Thursday, Dec. 12 at 1200 GMT. BANGALORE, Dec 11- Indian inflation is forecast to remain close to 9- month highs in November, a Reuters poll showed, putting further pressure on the central bank to follow up on its back-to-back interest rate hikes despite slowing economic growth.
Canadian National Railway Co. rose$. 05 or. 1 percent, to $56.34. Canadian Pacific Railway Ltd. fell$. 42 or. 3 percent, to $152.54. Kansas City Southern fell$. 19 or. 2 percent, to $119.69.
*Valiant, Berner Kantonalbank say will come clean. ZURICH, Dec 10- The first Swiss banks have signalled their readiness to work with U.S. officials in a crackdown on wealthy Americans evading taxes and many more are expected to follow in the coming weeks, in the latest blow to Switzerland's cherished bank secrecy.
TORONTO, Dec 10- Lululemon Athletica Inc named a new chief executive on Tuesday and said founder Chip Wilson will step down as chairman, as the upscale yogawear retailer tries to expand globally and put a series of embarrassing quality issues and other gaffes behind it.
Canadian National Railway Co. fell$. 14 or. 2 percent, to $56.15. Canadian Pacific Railway Ltd. fell$. 79 or. 5 percent, to $152.17. Kansas City Southern rose$. 88 or. 7 percent, to $120.76.
*Valiant, Berner Kantonalbank say will come clean. *Vontobel to take part, but free of US undeclared assets. The deal between the United States and Switzerland, agreed in August, is part of a U.S. drive to lift the veil of Swiss bank secrecy.
WASHINGTON, Dec 9- U.S. household net worth hit a record high in the third quarter as home prices marched up and the value of stocks and mutual funds surged, a hopeful sign for the economic recovery. The Federal Reserve said on Monday household wealth increased $1.9 trillion to $77.3 trillion in the third quarter, the highest level since records started in 1945..
*Valiant says U.S. clients are less than 1 pct of total. ZURICH, Dec 9- Valiant Holding AG on Monday became the first Swiss bank to say it would work with U.S. officials in a crackdown on wealthy Americans evading taxes through hidden offshore accounts.
*HSBC considering floating up to 30 pct of UK business- FT. LONDON, Dec 9- HSBC played down a report on Monday that it was considering listing a third of its British retail and commercial banking arm in order to meet UK regulation and unlock value for shareholders. The Financial Times on Monday said HSBC was considering selling 30 percent of its UK arm.
LONDON, Dec 9- Gold was steady on Monday as the dollar eased and investors assessed whether last week's better-than-expected U.S. jobs number was robust enough to lead the Federal Reserve to start withdrawing monetary stimulus soon. "Clearly the overall tapering is reflected in the gold price," Credit Suisse analyst Karim Cherif said.
LONDON, Dec 9- Gold was little changed on Monday as the dollar eased and investors assessed whether last week's better-than-expected U.S. jobs number was robust enough to lead the Federal Reserve to start a withdrawal of stimulus soon. "Clearly the overall tapering is reflected in the gold price," Credit Suisse analyst Karim cherif said.
Inconclusive data in the United States has given few clues as to when the Federal Reserve might bring its policy of easy money to an end, while markets are still waiting for the European Central Bank to come to the euro zone's rescue again with more than just another interest rate cut.
McKinsey believes massive sums of capital will be needed to keep up with the world's development.