Royal Mail shares, criticized to be valued too low, had netted hefty profits for its investors. The Abu Dhabi and Kuwaiti sovereign wealth funds have respectively reported a profit of USD30 million each from their investments made in the recently sold UK Royal Mail.
Legal & Regulatory
Angola imposes consumption tax on oil firms
Angola would be imposing a 10% tax on oil firms operating in the country. Angola, the second largest oil producer in Africa, would levy a consumption tax on oil companies.
Australian and New Zealand stocks fells amid US deadlock
The stocks of Australia and New Zealand fell as the deadline to settle debt for the United States looms near, said a report from Bloomberg.
Yen gains over peers as US debt default looms
The Japanese Yen had increased versus all its major peers as no progress was seen between US President Barack Obama and the House Republicans to end the US shutdown.
Food stamps stimulus set to end October 31
The temporary increase of the food stamp program would end by the end of this month. The temporary stimulus for the Supplemental Nutrition Assistance Program (SNAP) would expire by the end of the month.
Latest News
Air France-KLM, a top shareholder in Italy’s Alitalia, did not make a clear position regarding a proposed capital increase to save the near-bankrupt air carrier.
After delisting the HVB shares in 2008, Unicredit is relisting its German units shareholders. Unicredit is studying to list a minority stake in its German unit, HVB.
Japan, stretched to the limit because of the increase in foreign exchange funds, is studying to have the private sector manage the funds.
According to SNB President Thomas Jordan, protecting the Swiss franc is imperative for economic health.
According to a study, airport modernization programs are necessary to improve services. According to the study conducted by the aviation consultancy firm CAPA in partnership woth aviation IT solutions provider SITA, special provisions such as WiFi inflight, use of mobile devices, self-check in areas, biometrics and e-Passports should be implented in the new airports in India.
Banking regulators now are empowered to confiscate and break up a financial institution if bankruptcy would only hurt the economy.
Due to so-called 'exogenous shocks', Jordan leverages release of third tranche of the IMF funding.
The proposal to extend the debt ceiling another six weeks is untenable, according to US President Obama, causing a further delay in the deal.
Because of the failure to maintain good manufacturing standards, the UK regulatory authorities have withdrawn Wockhardt's certification of good standing.
