On Monday, Spain’s Santander said that it had agreed to buy a 51% stake in the largest consumer finance business from El Corte Ingles.
Investors
Monte Paschi to cut more jobs in return from EU bailout
Monte Paschi would cut more jobs to be able to secure a state bailout fund from the European Union, said a Bloomberg report.
Morgan Stanley leads profit gains in US lenders
Morgan Stanley along with Bank of America Corp and Wells Fargo & Co. would lead the six biggest lenders in the US banking sector, said a Bloomberg report.
Apollo, Copper disagree on proposed price offer
Apollo Tyres and Cooper Tire & Rubber Co had been on a disagreement over a proposed decrease in price offered by Apollo to take over the US firm, reported Reuters.
Bloomberg: China Resoures looking to sell Hong Kong meat unit
China Resources, a state backed conglomerate, had been studying its options including a possible sale for its Hong Kong meat distribution unit, said a report from Bloomberg News.
Latest News
A few glimmering hope had surfaced on Monday in the middle of the US partial shutdown as US President Barack Obama said he would accept a short term increase in the nation's debt ceiling, said a Reuters report.
BlackBerry shares rose last Monday after reports of potential strategic buyers taking interest in the struggling smartphone maker, said a Reuters report.
Alcatel-Lucent would push a cost cutting drive to save EUR1 billion by 2015 through cutting jobs by 1000, reported Les Echos and Le Figaro newpapers on their websites.
US stocks fell that marked an extended two weeks of losses following the partial shutdown of the US government over budget issues, said a Reuters report.
Twitter Inc got a "buy" rating from a brokerage company even before the social media platform went public, said a Reuters report.
Starbuck Corp Chief Executive Officer Howard Schultz had urged fellow business leaders to push US political leaders to end the US partial shutdown, said a Reuters report.
On Monday, World Bank’s Chief Financial Officer said that the bank had planned to cut USD400 million from its budget as a part of a sweeping reorganization.
Billionaire Mark Cuban said during a court trial last Monday that the stake he sold from an Internet search firm was long been planned.
Former World Bank President Robert Zoellick would rejoin investment bank Goldmans Sachs Group as chairman for its international advisory board, said a Reuters report.
