Reuters UK Business

By Sneha Kumar and Byron Kaye (Reuters) -Australia’s corporate regulator said the mortgage broking unit of No.2 lender Westpac had used falsified payslips from non-existent employers to approve home loans in a lawsuit filed on Wednesday. The Australian Securities and Investments Commission (ASIC) said RAMS Financial Group, a Westpac subsidiary until the bank shuttered the …

Australia regulator alleges Westpac mortgage unit used false documents Read More »

By Foo Yun Chee BRUSSELS (Reuters) -European satellite company SES is set to win unconditional EU antitrust approval for its $3.1-billion bid for rival Intelsat, people familiar with the matter said, creating a major European player to rival Elon Musk’s Space X-owned Starlink. Together with other European satellite companies, Luxembourg-headquartered SES is looking for greater …

Exclusive-SES $3.1 billion Intelsat deal to gain unconditional EU antitrust nod, sources say Read More »

(Reuters) -Yale University is finalizing the sale of up to $2.5 billion of its private equity and venture capital assets, Bloomberg News reported on Wednesday. The Ivy League school’s endowment is in advanced talks on the portfolio sale, code-named “Project Gatsby,” with an overall discount expected to be less than 10%, Bloomberg News reported citing …

Yale nears deal to sell $2.5 billion of private equity stakes, Bloomberg News reports Read More »

By David Milliken LONDON (Reuters) – Britain’s services sector returned to tepid growth last month after fears about U.S. President Donald Trump’s tariffs caused the sector to shrink in April for the first time in a year and a half, a survey showed on Wednesday. The S&P Global Purchasing Managers’ Index for Britain’s services sector …

UK services sector returns to growth in May, PMI survey shows Read More »

By Jonathan Stempel NEW YORK (Reuters) -Former customers of the late Ponzi schemer Bernard Madoff will recoup $498.3 million under a settlement on Wednesday with the liquidators of two Luxembourg funds, boosting their recovery to about $15.26 billion. The Luxembourg Investment Fund and Luxembourg Investment Fund U.S. Equity Plus had invested exclusively with Bernard L. …

Bernie Madoff customers to recoup $498 million, payout tops $15 billion Read More »

By Jesús Aguado and Andres Gonzalez MADRID (Reuters) -Santander rescinded the appointment of Alexsandro Broedel Lopes as its new chief accounting officer and has instead chosen Manuel Preto for the role, according to an internal memo by the Spanish lender on Wednesday seen by Reuters. Broedel, who had been set to start in the role …

Santander halts appointment of Broedel, Preto becomes new accounting boss, memo says Read More »

By Virginia Furness and Kate Abnett LONDON/BRUSSELS (Reuters) -The European Investment Bank pledged on Wednesday to invest 15 billion euros ($17 billion) in projects that help reduce water pollution, prevent water wastage and support innovative businesses in the water sector over the next three years. The commitment by the European Union’s lending arm is part …

EIB commits 15 billion euros to protect EU’s water resources Read More »

By Hadeel Al Sayegh and Federico Maccioni DUBAI (Reuters) -Dubai party hotel operator FIVE Holdings is considering listing in London or New York, three people with knowledge of the matter said. The company, which owns the Pacha hotel and nightclub, has been exploring an initial public offering in Dubai, it has said. Chairman and founder …

Dubai party hotel FIVE considers listing in London or New York Read More »