A New York court late on Monday rejected a renewed attempt by Barclays PLC to attain $4bn in assets linked with the sale of brokerage business Lehman Brothers Holdings. The judge reportedly called for the full amount to go to the trustee overseeing the Lehman Brothers’ liquidation. As part of the ruling Barclays is required…
Italian luxury fashion house Prada is looking to raise between $2bn- $2.6bn in a Hong Kong IPO, ahead of its June 24 listing on the Hong Kong stock exchange. The Milan –based company anticipates selling 423.28 million shares at an indicative cost range of between $4.69 and $6.17 each. Prada in a Hong Kong filing…
Chicago-based Groupon, the daily deal website which last year rejected a $6bn buyout offer from Google, has filed with the SEC to raise $750m in an initial public offering, the company said on Friday. The IPO will be managed jointly by Morgan Stanley, Credit Suisse and Goldman Sachs, according to details of the filing. The filing specified…
Brazil has welcomed the candidacy of Agustin Carsten, Mexico’s central bank chief, in his pursuit to become the next head of the Washington-based IMF but said it required more time to decide which candidate to support. Brazil’s Finance Minister Guido Mantega however noted on Thursday: “Emerging economies are under-represented in the fund’s leadership, especially Latin…
French power equipment specialist Schneider Electric has signed an agreement to acquire Spanish software firm Telvent GIT for €1.4bn ($2bn), the company said on Wednesday. Schneider, the world’s largest producer of low and medium voltage equipment, hopes to reinforce its solution capability for the smart grid electricity software according to a company statement. Telvent’s shareholders…
Unemployment in Germany fell for a 23rd straight month in May the Federal Labour Agency in Nuremberg said on Tuesday. The decline in unemployment is said to be largely due to increased spending by consumers and businesses and export driven growth according to the agency. Numbers fell to 2.96 million or 7 percent from April’s…
Japanese car manufacturers Honda and Toyota reported on Friday a global production drop of around half for April compared to figures the same period last year. Toyota reported a 47.8 percent slump in April to 308.555 vehicles while Honda announced a 52.9 percent drop year-on-year. The car manufacturers said the production decrease was due to…
French finance minister Christine Lagarde late on Wednesday formerly launched her bid to lead the IMF as managing director. Lagarde, a former corporate lawyer, is the favourite to succeed Dominique Strauss-Kahn who resigned following sexual assault allegations. Augustine Carstens, the governor of the Mexican central bank, is another key contender for the position. The IMF executive directors…
The head of Greece’s conservative party, Antonis Samaras, announced late on Tuesday that he would not back a further €6bn austerity measure to reduce the country’s deficit. The political stalemate over austerity measures is threatening to jeopardise the country’s next tranche of a €110bn bailout worth €12bn, which is due in June. Greece announced on Monday…
When planning investment in Mexico real estate, an interesting option to consider is tourist regions that have not yet registered on the international radar. Some of these locations offer a well-developed atmosphere, modern services and many activities; without much more investment, the areas are ready to take off as international locations, and are only waiting…
