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Updated: 12 hours 43 min ago

British funds industry needs governance overhaul - lobby group

Tue, 03/03/2015 - 00:03
LONDON (Reuters) - The British fund management industry is "ripe for investigation" as part of a broader plan to improve corporate governance at UK firms, the Institute of Directors said on Tuesday.

BAT offer to buy out Souza Cruz tops independent appraisal value

Mon, 02/03/2015 - 23:27
SAO PAULO (Reuters) - British America Tobacco Plc's offer for the 24.7 percent stake it does not already own in Souza Cruz SA topped the value per share calculated in an appraisal by as much as 21 percent, giving a boost to a planned buyout of Brazil's largest cigarette producer.

Standard Chartered to shrink bonus pool by 9 percent - Sky News

Mon, 02/03/2015 - 22:31
(Reuters) - Standard Chartered bank will shrink its bonus pool for 2014 by about 9 percent to around 715 million pounds ($1.1 billion), Sky News reported late on Monday, citing a person familiar with the matter.

Mixed messages on third Greek bailout talks

Mon, 02/03/2015 - 21:55
MADRID/ATHENS (Reuters) - Euro zone countries are discussing a third bailout for Greece worth 30 billion to 50 billion euros, Spain's economy minister said on Monday, but EU officials said there were no such talks.

Bill Gates tops Forbes rich list, Michael Jordan joins

Mon, 02/03/2015 - 19:38
(Reuters) - Bill Gates stands atop Forbes magazine's annual list of the world's richest people, as Facebook Inc's Mark Zuckerberg joined the top 20 and basketball star Michael Jordan plowed new air by making the list for the first time.

Deutsche Telekom to invest 6 billion euros in European network

Mon, 02/03/2015 - 18:39
BARCELONA (Reuters) - Deutsche Telekom will invest more than 6 billion euros ($6.7 billion) in its European network over the next four years to integrate its services on to one platform, it said on Monday.

Russian tycoon clashes with Britain over North Sea deal

Mon, 02/03/2015 - 18:07
FRANKFURT/DUESSELDORF (Reuters) - Russian billionaire Mikhail Fridman said on Monday he would buy a number of gas licenses in the North Sea despite British opposition, threatening legal action if London should force him to sell them on to a third party.

HP to buy Wi-Fi gear maker Aruba Networks for $2.7 billion

Mon, 02/03/2015 - 17:11
(Reuters) - Hewlett-Packard Co said it would buy Wi-Fi network gear maker Aruba Networks Inc for about $2.7 billion (1.7 billion pounds), the biggest deal for the world's No. 2 PC maker since its botched acquisition of Britain's Autonomy Plc in 2011.

FTSE drops away after touching new record high

Mon, 02/03/2015 - 16:54
LONDON (Reuters) - Britain's top equity index briefly touched a new record high on Monday before turning negative as commodity stocks weakened, led lower by a slump in Tullow Oil.

Marks & Spencer to close five Shanghai stores, Asia head quits

Mon, 02/03/2015 - 16:25
LONDON (Reuters) - British retailer Marks & Spencer has decided to close five stores in the greater Shanghai region following a review of its plans for China that will nevertheless see it stick to a commitment to expand into the country's other large cities.

Consumers drive UK economy in third quarter despite weak incomes

Mon, 02/03/2015 - 16:22
LONDON,(Reuters) - Spending by households drove Britain's economic recovery once again in the third quarter despite a slight fall in disposable incomes and weaker business investment growth than previously reported, official data showed on Tuesday.

Barclays to set aside more for forex fines and customer compensation

Mon, 02/03/2015 - 15:31
LONDON (Reuters) - Barclays is expected to set aside more money for potential foreign exchange fines and to add to its compensation tab for UK customer mis-selling, eating into an expected slim rise in profits.

Royal Mail announces China link-up through Alibaba's Tmall

Mon, 02/03/2015 - 15:07
LONDON (Reuters) - Britain's Royal Mail is joining Alibaba Group Holding Ltd's Tmall Global's online marketplace, hoping to link small British companies with Chinese consumers and boost trade for its overseas parcels business.

Cardinal to buy J&J vascular technology unit Cordis for $1.9 billion

Mon, 02/03/2015 - 15:05
NEW YORK (Reuters) - U.S. pharmaceutical and medical equipment maker Johnson & Johnson agreed to sell its Cordis vascular technology unit to Cardinal Health for $1.9 billion (1.2 billion pounds), completing its exit from the cardiovascular stent business.

Top UK economic forecaster says sharp inflation rise a risk - Reuters poll

Mon, 02/03/2015 - 14:05
(Reuters) - British inflation may rebound more sharply than many people think if economic growth picks up, according to the most accurate forecaster in Reuters Polls on 2014 UK economic data.

EU's Juncker - investment plan doesn't preclude need for budget consolidation

Mon, 02/03/2015 - 13:11
BERLIN (Reuters) - European Commission President Jean-Claude Juncker said on Monday that the European Union's investment programme did not preclude the need for budget consolidation.

Government resists widening scope of banker bonus curbs

Mon, 02/03/2015 - 13:07
LONDON (Reuters) - Rules to prevent bonuses from encouraging excessive risk taking at banks should not be extended to junior staff and put Britain out on a regulatory limb, a British government minister said on Monday.

Samsung unveils sleek new Galaxy phones to battle Apple

Mon, 02/03/2015 - 02:38
SEOUL/BARCELONA (Reuters) - South Korea's Samsung Electronics Co Ltd unveiled its latest Galaxy S smartphones, featuring a slim body made from aircraft-grade metal, in a bid to reclaim the throne of undisputed global smartphone leader from Apple Inc.

Oil falls 1 percent on weak China outlook, higher Libya production

Mon, 02/03/2015 - 02:06
SINGAPORE (Reuters) - Oil fell about 1 percent on Monday after posting its first monthly rise since June, pressured by continued weakness in China's vast manufacturing sector and higher Libyan crude output.

China February HSBC PMI at seven-month high but deflation risk persists

Mon, 02/03/2015 - 01:53
BEIJING (Reuters) - Activity in China's factory sector edged up to a seven-month high in February but export orders shrank and deflationary pressures persisted, a private business survey showed on Monday, underlying economic fragility that may need more policy support.