SYDNEY—Bapcor has become a 1.83 billion Australian dollar (US$1.21 billion) target for a private equity takeover, five weeks after the Australian automotive-accessory provider issued a profit warning. The ASX-listed company on Tuesday said it received an indicative A$5.40-a-share cash proposal from Bain Capital Private Equity at the end of last week. Its board is considering the […]
MADRID, June 11 (Reuters) – Spain’s booming tourism industry will buoy the country’s overall economic growth rate to a solid 2.3% in 2024, much higher than its European Union peers, the Bank of Spain said on Tuesday. In its quarterly outlook update, the central bank raised its growth forecast from a previous 1.9% three months […]
NEW YORK/MEXICO CITY, June 10 (Reuters) – The Mexican governing party’s unexpectedly lopsided victory last week has investors concerned that it may use its mandate to sweep aside some of the checks on presidential power which have long been a source of comfort to the business community. The possibility that current president Andres Manuel Lopez […]
June 10 (Reuters) – The U.S. Securities and Exchange Commission in April had sought additional disclosures from New York Community Bancorp (NYCB.N), opens new tab in its preliminary proxy statement, regulatory filings made by the regional lender showed on Monday. The regulator requested NYCB to revise its proxy filing to briefly discuss the reasons for its recent […]
FRANKFURT, June 11 (Reuters) – Many euro zone banks are still far from meeting accounting rules on the provisions needed to protect against loan losses, despite some progress in factoring in climate risks, the European Central Bank’s top supervisor said on Tuesday. A decade-old accounting standard designed to avoid a new banking crisis requires lenders […]
Just like Elon Musk and Bill Gates, Jeff Bezos‘ private jet of choice is a Gulfstream G650ER. In fact, he owns two of them. But the Amazon founder also has a smaller business jet known for its versatility, according to data from JetSpy. Swiss planemaker Pilatus bills its PC-24 as “the world’s only super versatile jet” because it’s capable […]
Norway’s $1.6 trillion sovereign wealth fund said it is voting against Elon Musk’s $46 billion pay package at Tesla. Norges Bank Investment Management, the central bank’s wealth-fund arm, released its decision Saturday, expressing concerns about the size of the compensation deal, among other factors…. Source: REUTER
June 10 (Reuters) – Southwest Airlines’ (LUV.N), opens new tab shares rose about 7% in premarket trade on Monday after the Wall Street Journal reported that activist investor Elliott Investment Management had built a nearly $2 billion stake in the U.S. carrier. According to the Journal’s report on Sunday, Elliott is one of Southwest’s largest investors and plans to […]
NEW YORK, June 7 (Reuters) – A former Allianz (ALVG.DE), opens new tab fund manager pleaded guilty on Friday over his role in a meltdown of private investment funds sparked by the pandemic that caused an estimated $7 billion of investor losses. Gregoire Tournant, 57, of Basalt, Colorado,to two counts of investment adviser fraud at a hearing […]
CHINA’S exports grew more quickly and for a second month in May, suggesting factory owners are managing to find buyers overseas and providing some relief to the economy as it battles to mount a durable recovery. The jury is still out, however, on whether the export sales are sustainable while a protracted property crisis has […]