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Premier Wen Jiabao addresses China’s yaun

Premier Wen Jiabao addresses China’s yaun

When Premier Wen Jiabao addresses China’s largely ceremonial parliament, investors will prick up their ears for any hint that change is coming to the country’s currency regime. Wen, who swore there would be no more surprises, after Beijing revalued the yuan by 2.1 percent in 2005, will err on the side of caution in choosing […]
DoJ approval for Deutsche Börse-NYSE merger

DoJ approval for Deutsche Börse-NYSE merger

The US Department of Justice has approved a $9bn merger between the NYSE Euronext and Deutsche Börse contingent on divestitures. For the deal to be fully permitted by the DOJ, Deutsche Börse will need to divest its 31.5 percent interest in stock exchange operator Direct Edge. It is also still awaiting the approval by the […]
IAG trumps Virgin to €206.8m BMI deal

IAG trumps Virgin to €206.8m BMI deal

The owner of British Airways, International Consolidated Airlines, on Thursday beat competitor Virgin Atlantic in the takeover battle for BMI, Deutsche Lufthansa’s loss-making airline. IAG agreed to buy BMI for €206.8m in cash, but may end up paying less if Lufthansa fails to sell its small regional subsidiaries before the completion date.  CEO of IAG, […]
Japan’s Naoto Kan intervenes to weaken yen

Japan’s Naoto Kan intervenes to weaken yen

Japan has sold the yen in the market for the first time in six years, trying to stop the currency’s relentless climb from hurting exporters and threatening a fragile economic recovery. Fresh after a victory in party leadership contest, Japan’s Prime Minister Naoto Kan appeared to be stepping up efforts to wrench the country out […]
Moody’s: Eurozone a danger to UK’s AAA rating

Moody’s: Eurozone a danger to UK’s AAA rating

Britain’s AAA credit rating could be at risk due to the crisis in the eurozone, Moody’s said in its UK end of year assessment late on Tuesday. In spite of a “stable” rating, Moody’s warned that Britain may face a downgrade if no policies are implemented to help stabilise markets. According to the agency, the […]
Indonesia, Australia launch UN-backed $30m forest CO2 project REDD

Indonesia, Australia launch UN-backed $30m forest CO2 project REDD

Indonesia and Australia have launched a A$30m project to fight deforestation in Sumatra as part of efforts to cut greenhouse gas emissions and boost a planned forest-carbon trading scheme. The project, to target Sumatra’s Jambi province that has suffered rapid deforestation, is the second joint venture between the neighbouring countries keen to learn how to […]
AT&T kills $39bn takeover bid for T-Mobile

AT&T kills $39bn takeover bid for T-Mobile

After months of opposition from regulators and rivals, AT&T late on Monday dropped its controversial $39bn takeover bid for T-Mobile USA, the company said. The FCC, which was against the takeover since it was announced in March, said that the bid would reduce competition and choice, and increase prices for consumers. AT&T announced it will […]
SEC sues ex-Freddie Mac and ex-Fannie Mae executives

SEC sues ex-Freddie Mac and ex-Fannie Mae executives

The Securities and Exchange Commission late on Sunday filed securities fraud charges against six former Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) executives. The SEC court filing showed that executives had claimed that their company’s exposure from 2007 to 2008 was between $2bn and $6bn, when it was […]
Zynga IPO prices hit top of the range

Zynga IPO prices hit top of the range

Online games producer Zynga late on Thursday managed to raise $1bn in its initial public offering after it priced shares at the top end of a preliminary $8.50 to $10 market range. The creator of games including “FarmVille” and “CityVille” sold 100 million shares of Class A common stock at $10 a share in the […]
Brazil sues Chevron for $10.6bn oil spill damage

Brazil sues Chevron for $10.6bn oil spill damage

Brazilian federal prosecutors late on Wednesday sued US-based Chevron and rig operator Transocean for $10.6bn in damages following environmental harm alleged to have been caused by an oil leakage in early November. Prosecutors also asked the court to force the companies to shut down operations at the Frade field in Brazil until the case is […]