By Jesús Aguado MADRID (Reuters) -A Madrid court has sentenced former International Monetary Fund chief Rodrigo Rato to almost five years in prison for corruption offences, the court said on Friday. Rato, who has denied any wrongdoing throughout a nine-year probe, said in a statement sent to Reuters through the law firm Baker McKenzie that …
Ex-IMF chief Rato sentenced to new prison term over corruption Read More »
(The Insurer) – Independent (re)insurance intermediary BMS Group has completed the acquisition of UK-based broker David Roberts & Partners (DR&P). Following completion of the deal, DR&P chief executive John Page and managing director Simon Bland will continue in their roles. Page will now report to BMS Group CEO Nick Cook, and will join the group executive …
BMS completes “largest acquisition to date” with DR&P deal Read More »
By Emma-Victoria Farr and Andres Gonzalez LONDON (Reuters) – Private equity funds in Europe, even though flush with cash, are thinking twice about buying businesses that could be difficult to sell and carefully working through their exit plans before making more acquisitions, bankers and investors said. In one example, Brookfield walked away from making a …
Private equity faces an exit problem in Europe as bigger deals beckon Read More »
HELSINKI (Reuters) – A Finnish labour union representing Finnair pilots will suspend its bans on standby and overtime work from Dec. 20 to Jan. 1, the Finnish airline said in a statement on Friday. The pilots had initiated the bans as part of efforts to pressure Finnair to accept its proposals. Finnair and its pilots …
Finnair pilots suspend standby, overtime work bans for Christmas Read More »
BRUSSELS (Reuters) – The European Commission said on Friday it has approved unconditionally Nvidia’s $700 million bid for Run:ai. The EU’s probe into the deal focused on practices that could strengthen Nvidia’s control over GPUs, sought-after chips that divide and process computer tasks, but it concluded that the acquisition of Run:ai would not raise competition …
MADRID (Reuters) -Credit Agricole agreed to buy Santander’s 30.5% stake in custody and asset servicing entity Caceis, the banks said, in a deal that will give the French lender full control of the business. The banks, which issued separate statements on the agreement late on Thursday, did not disclose the value of the deal, which …
Credit Agricole buys remainder of Caceis custody and asset JV from Santander Read More »
By Nailia Bagirova BAKU (Reuters) – Moscow and Kyiv have failed to agree on a deal brokered by Azerbaijan to continue Russian gas exports to Europe via Ukraine, a senior source at the Azeri energy company SOCAR told Reuters on Friday. The European Union and Ukraine had asked Azerbaijan to facilitate discussions with Russia about …
Russia and Ukraine fail to agree on Azerbaijani-brokered gas deal, SOCAR source says Read More »
By Felix Njini, Clara Denina, Melanie Burton (Reuters) -BHP, the world’s biggest miner, would need to offer a minimum 40% premium over Anglo American’s share price to make a renewed takeover bid now the rival’s value has been boosted by asset sales, two sources close to the matter told Reuters. As diversified miners shift their …
Lure of Anglo’s copper mines could test BHP’s spending resolve Read More »
FRANKFURT (Reuters) – Volkswagen plans to cut more than 10,000 jobs in the next few years as part of an agreement with unions over the future of the German brand, manager magazin reported, not citing where it obtained the information. (Writing by Christoph , editing by Kirsti Knolle)
(Reuters) – The newly listed spinoffs of Vivendi have seen their shares decline in their first week of trading, after being listed on Monday in a move aimed at unwinding the conglomerate discount of tycoon Vincent Bollore’s media empire. Shares of London-listed Canal+ have slumped 33% since Monday, trading at 194 pence per share as …
Vivendi spinoffs, led by Canal+, lose value in first trading week post-breakup Read More »
