British Steel, the country’s second largest steel producer, is on the brink of collapse unless the government agrees to provide an emergency £30mn ($38mn) loan, two sources close to the situation said.
T-Mobile US Inc suffered a significant setback in its bid for regulatory approval of its takeover of Sprint Corp after failing to win over the US Justice Department with a remedy package, putting pressure on the companies to offer more concessions.
Relief that the United States took a step away from imposing crushing restrictions on Huawei helped stocks recover yesterday, while the pound whiplashed on fresh Brexit drama. After hitting a four-month low at $1.2685 the pound shot higher on speculation Prime Minister Theresa May
Expectations that $200bn of foreign money would flow into China’s capital markets this year are looking nothing short of optimistic. For overseas investors, a weaker currency is the latest factor making yuan-denominated assets less attractive.
Huawei Technologies Co looked like it would survive a US campaign to persuade its allies to block the supplier from their new mobile networks. Now, Trump’s move to put the company on an export blacklist threatens to shake the entire telecom industry.
HSBC Holdings PLC plans to add more than a 1,000 jobs this year at its technology development centres in China, as the Asia-focused lender seeks to bolster its presence in the world’s second largest economy.
India’s Punjab National Bank is looking to merge with two or three government owned banks that could include Oriental Bank Of Commerce, Andhra Bank and Allahabad Bank, two sources familiar with the situation told Reuters, as New Delhi tries to cut the number of state-owned lenders.
Asian markets mostly rose yesterday but concerns about the Huawei row and broader China-US trade war kept investors on edge, with analysts warning the crisis could rumble on for some time.
A German fintech firm that counts PayPal Holdings Inc among its investors wants to expand its Internet platform for bank-savings products to the US. Raisin GmbH, which claims to be “first and only pan-European deposit marketplace,” has hired Wealthfront’s Paul Knodel to create its US business.
Sweden’s biggest mortgage bank has returned to the safest corner of the debt market after a money-laundering scandal drove up funding costs for riskier bonds. Swedbank AB, which is based in Stockholm, on Monday issued euro-denominated covered bonds for a second time this year
The US has temporarily eased trade restrictions on China's Huawei to minimise disruption for its customers, a move the founder of the world's largest telecoms equipment maker said ...