×

Wires

  • HONG KONG, Dec 15- Hong Kong is set to allow controversial dual-class shares under rule changes to be proposed by the city's stock exchange as it raises the stakes in its battle against New York for blockbuster Chinese initial public offerings. Hong Kong's proposed changes, which stem from a discussion paper published in June, come as a series of...

  • LIMA, Dec 14- Peru's center-right President Pedro Pablo Kuczynski said on Thursday he would not resign in the face of possible impeachment over payments to a firm he owned by a Brazilian company that has bribed politicians across Latin America. In a defiant national address flanked by members of his cabinet and party lawmakers, Kuczynski said he owned...

  • But as Britain and the European Union crawl through a protracted divorce, Berthelot has more to worry about than bugs. His century-old business decided to start exporting to Britain for the first time just as the country voted to leave the EU. The pound immediately plunged, making imported wine more expensive in Britain.

  • NEW DELHI, Dec 15- India's state steel company will start producing automotive steel in a $1 billion partnership with ArcelorMittal in three years, a top government official said, helping cut imports of high-grade steel as the country revs up car manufacturing. India is banking on the SAIL partnership with ArcelorMittal to cut imports of high-grade auto steel,...

  • HONG KONG, Dec 15- Hong Kong is set to allow controversial dual-class shares under rule changes to be proposed by the city's stock exchange as it raises the stakes in its battle against New York for blockbuster Chinese initial public offerings. Hong Kong's proposed changes, which stem from a discussion paper published in June, come as a series of...

  • MOSCOW, Dec 15- Former Russian economy minister Alexei Ulyukayev was found guilty on Friday of soliciting a $2 million bribe from Rosneft chief executive Igor Sechin in a court case that has shone a rare light on infighting among the Russian elite. A Moscow court found Ulyukayev guilty of demanding and accepting the bribe on Nov. 14 last year.

  • LONDON— Budget carrier Ryanair is reversing its longstanding refusal to recognize pilots' unions in a bid to avert strikes over the busy Christmas season. Chief executive Michael O'Leary says the airline wants to ease customers' concerns "that they may be disrupted by pilot industrial action next week." Ryanair pilots in Ireland and Germany have both voted to...

  • JOHANNESBURG, Dec 15- Steinhoff's African business is preparing to repay $1.2 billion it owes to its parent, it said on Friday, a move that would go a long way to plugging a liquidity hole in the group fighting for survival in the wake of an accounting scandal. Steinhoff Africa Retail, spun off this year, said it had appointed FirstRand's Rand Merchant Bank to arrange...

  • HONG KONG, Dec 15- Chinese conglomerate HNA Group said on Friday it had repurchased some of its bonds and planned to buy back more- its latest move to counter concerns that it is facing a liquidity crunch. HNA's $50 billion worth of deal-making in the past two years has sparked intense scrutiny of its opaque ownership and use of leverage. HNA subsidiaries have...

  • Chief Executive Michael O'Leary's refusal to recognize unions was at the heart of the ultra low-cost model he developed to turn a small Irish regional airline into Europe's largest carrier by passenger numbers. The Irish carrier said it would hold talks with unions in Ireland, Britain, Germany, Italy, Spain and Portugal to recognize them as long as they...

  • Chief Executive Michael O'Leary's refusal to recognise unions was at the heart of the ultra low-cost model he developed to turn a small Irish regional airline into Europe's largest carrier by passenger numbers. The Irish carrier said it would hold talks with unions in Ireland, Britain, Germany, Italy, Spain and Portugal to recognise them as long as they...

  • *Bitcoin near $17,000 ahead of CME futures launch. LONDON, Dec 15- The dollar slipped to a nine-day low against the yen on Friday, after wrangling in the United States Congress over a bill to change the tax code dented confidence that the reforms would be pushed through in their current state. The greenback had climbed to a one-month high of 113.750 yen on Tuesday.

  • MOSCOW— A court has found a former Russian economic development minister guilty of accepting a $2 million bribe from a top ally of President Vladimir Putin. Alexei Ulyukayev, the highest-ranking Russian official to have been arrested since 1993, was detained last year at the headquarters of Russia's largest oil producer, Rosneft, after a sting operation by...

  • *Sales fall in three months to end of November. *Company struggling to adjust to rapid growth of online. STOCKHOLM, Dec 15- Fashion retailer H&M said on Friday sales had fallen during the last three months as fewer shoppers visited its stores, sending its shares plummeting and underlining its struggle to adapt to a shift of business online.

  • LONDON, Dec 15- Italian bonds were set for their worst week since July on Friday as talk of a March election renews focus on the political risks facing the euro zone's third biggest economy, while broader debt markets drew support from wrangling over a U.S. tax bill. Italy's 10- year bond yields, trading at 1.78 percent, looked set to end the week around 14 basis points...

  • BRUSSELS— European Union leaders are set to authorize a new phase in Britain's departure from the bloc. European Commission President Jean-Claude Juncker said Friday that "some of us thought, including me, that she did make big efforts and this has to be recognized." Malta's prime minister, Joseph Muscat, said "there was appreciation from everyone," despite...

  • Dec 15- Hong Kong stocks fell on Friday, led down by property and information technology firms tracking their mainland peers, with sentiment dented by Wall Street's weakness on concerns about the progress of U.S. tax reform. **China's main Shanghai Composite index closed down 0.8 percent at 3,266.1503 points while its blue-chip CSI300 index ended down 1.12...

  • NEW YORK— After years of tremors, the earthquake that had long been predicted finally shook Hollywood. Disney's deal to purchase most of 21st Century Fox ends the era of the "Big Six" major movie studios, toppling one of the industry's most famed studios and dramatically redrawing the Hollywood map. But by effectively absorbing Fox's film studio, 20th Century Fox,...

  • WASHINGTON— Republican Marco Rubio's potential defection over a tax credit for low-income parents put a speed bump into GOP leaders' drive to push their big tax package through the Senate, but it's a complication that's likely to be resolved. That puts the Republicans' razor-thin margin in the Senate closer to the edge. The GOP leaders are straining to muscle the...

  • LONDON, Dec 15- The chairman and senior independent director of Persimmon, Britain's second biggest housebuilder, have resigned after recognising they did not put a cap on a lucrative management incentive scheme introduced in 2012.. The group said on Friday Nicholas Wrigley, chairman since 2006, would remain in the role to allow an orderly process while the...