The cancellation of the Telecom Italia board meeting buys the firm more time to plan out ways to revitalize its flagging business.
Europe
Danske aspires for ratings upgrade after firing of CEO
Danske Bank A/S Chairman Ole Andersen said in an interview with Reuters that the bank has been doing its best to improve its credit ratings, including replacing its former CEO with one who is well-versed in banking.
Barclays called reckless by the Financial Conduct Authority
In a finding by the Financial Conduct Authority, Barclays payments to investors post-2008 without proper disclosure was called reckless.
Schaeffler, holding company sell 4% stake in Continental to repay debt
Schaeffler AG said in a statement that the sale of its combined 4% stake in Continental AG with holding company Schaeffler Verwaltungs GmbH would be used to repay borrowings made to takeover Continental.
UK to sell stake in Lloyds
Britain announced that it would sell its stake in Lloyds Banking Group priced at least GBP0.50 a share.
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Private equity backed Novacap bought a controlling share in China-based Taixing Yangzi Pharm Chemical.
BBC Worldwide and Ragdoll Productions sold "Teletubbies" to DHX Media. BBC Worldwide and Ragdoll Productions sold the joint venture firm that owns the rights to "Teletubbies," "In the Night Garden" and "The Adventures of Abney & Teal" to DHX Media.
TorQuest announced the closing of its third fund with USD 535 million. Canadian private equity firm TorQuest announced that it was able to raise USD 535 million for its third fund.
At 114,000 tons, the Costa Concordia would be the first ship of its size to be parbuckled. Capsized cruise ship liner Costa Concordia would be the first ship of its size to be salvaged using a process known as parbuckling.
KPN shareholders would meet to study American Movil's bid. Dutch phone company Royal KPN NV had been awaiting a bid from America Movil SA with a planned sale of its German wireless business in order to avoid paying taxes on its future earnings.
Eivind Kolding's reign as Danske Bank CEO ended when the bank fired him. In a surprise decision, Eivind Kolding, Danske Bank A/S CEO was fired after less than two years on the job.
Lufthansa said CEO Christoph Franz had left the company to become the Chairman of Roche Holding. Deutsche Lufthansa announced that its Chief Executive Officer Christoph Franz had already left the company.
Efforts to salvage wrecked cruise liner Costa Concordia began today. The salvage operations for cruise ship Costa Concordia finally began today. Despite a three-hour delay due to thunderstorms, the team of Engineer Sergio Girotto finally started the process of righting the ship.
Two of the biggest managed risk services providers in the world, Stiftelsen Det Norske Veritas (DNV) and Germanischer Lloyd SE (GL), got approval from competition authorities to finalize its planned merger.
