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Freeport-McMoRan to trim up to $10 billion debt
Freeport-McMoRan said that it has planned to trim up to $10 billion debt through earnings from joint venture transactions and asset sales. The mining group also reported a loss of $4.1 billion for the fourth quarter.
People's Bank of China Inject 340 billion yuan into the financial system
China’s central bank, the People's Bank of China is putting the largest amount of cash into the financial system in nearly three years which is around 340 billion yuan. The move was done as the bank is preparing for lots of cash out as it is nearing the Lunar New Year.
KIA Rio GT Will Debut in 2018 to Take On Ford Fiesta ST
Korean automaker KIA will launch its sporty hatchback KIA Rio GT in 2018. The car will compete against Ford Fiesta ST in sportscar segment.
Higher Capital Requisites In Basel III Rules Lead To Volatile Gilt Market In The UK
Introduction of risk based regulation centering Basel III accord has pushed up costs of fund. As an aftermath, the January 20 auction of the UK sovereign bonds has witnessed the lowest demand in nearly seven years. Ahead of rising concerns over the increasing challenges in the UK gilt market, many of the world’s biggest banks are shrinking their bond-trading activities. However, concerns of the investors and dealers have been communicated to the regulators concerned through a meeting held on Tuesday.