UPDATE 1-U.S. warns Venezuela’s Maduro about intimidation, ‘looting’

(Adds quotes from official, context throughout) By Roberta Rampton and Doina Chiacu WASHINGTON, Jan 31 () – The U.S. government on Thursday warned Venezuelan President Nicolas Maduro of consequences for what it called “egregious” acts of intimidation, and said Russia and other countries should cease “last-minute looting” of oil and gold. Juan Guaido, Venezuela’s self-proclaimed […]

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UPDATE 2-Amazon removes numerous products from India site as new e-commerce rules bite

NEW DELHI/MUMBAI () – E-commerce rules that went into effect in India on Friday caused widespread disruption for Amazon.com, forcing it to take down an array of items from its India website including Echo speakers, batteries and floor cleaners. FILE PHOTO: The logo of Amazon is pictured inside the company’s office in Bengaluru, India, April […]

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U.S. warns Venezuela’s Maduro about intimidation, ‘looting’

WASHINGTON, Jan 31 () – The U.S. government on Thursday warned Venezuelan President Nicolas Maduro there would be consequences for what it called “egregious” acts of intimidation against opposition leader Juan Guaido, a senior U.S. official told reporters. The U.S. government wants Venezuela oil company PDVSA’s U.S. subsidiary, Citgo, to remain viable in spite of […]

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UPDATE 5-Lebanon agrees new government, PM vows bold reforms

BEIRUT () – Lebanon formed a new national unity government on Thursday, ending nine months of wrangling, and Prime Minister Saad al-Hariri said bold moves were needed without delay to address chronic problems facing the heavily indebted state. Lebanon’s President Michel Aoun and Prime Minister-designate Saad al-Hariri meet ahead of a new government announcement at […]

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REFILE-UPDATE 3-Mastercard, Visa warn of lower overseas spending in 2019

() – Quarterly reports from Mastercard and Visa indicated a drop in 2019 overseas spending by cardholders due to a strong dollar, an outcome of the U.S.-China trade dispute, a potential Brexit and geopolitical uncertainty in Latin America. FILE PHOTO: A Mastercard logo is seen on a credit card in this picture illustration August 30, […]

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UPDATE 2-EU markets watchdog approves Brexit agreement with Britain

LONDON () – The European Union’s markets watchdog said it has approved an agreement on supervisory cooperation with Britain after Brexit to avoid disruption to cross-border financial services like asset management. British and EU flags flutter outside the Houses of Parliament in London, Britain January 30, 2019. /Toby Melville“The board agreed in substance the Memorandum […]

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UPDATE 4-Skirting U.S. sanctions, Europeans open new trade channel to Iran

PARIS/BERLIN () – France, Germany and Britain have opened a new channel for non-dollar trade with Iran to avert U.S. sanctions, although diplomats say it is unlikely to allow for the big transactions that Tehran says it needs to keep a nuclear deal afloat. Iran’s President Hassan Rouhani speaks during his visit to the shrine […]

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German savings banks adopt joint plan to aid ailing NordLB

FRANKFURT () – German savings banks have decided on a joint plan for the recapitalization of ailing public sector lender NordLB, pitting them against a joint bid by two private equity groups. The savings banks umbrella organization DSGV said in a statement on Thursday that the decision “is a way to strengthen NordLB in the […]

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Thyssenkrupp must raise margins – shareholder DWS

* DWS has reduced actively managed position in Thyssen * Profitability is below average in many areas * DWS will watch restructuring with an eagle eye By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF, Jan 31 () – Thyssenkrupp , in the midst of a major restructuring, needs to raise profit margins to avoid falling further […]

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GLOBAL MARKETS-Fed pause sets stocks for best January on record, yields fall

NEW YORK () – Global equity markets mostly rose on Thursday, propelled by Facebook’s stellar earnings and the Federal Reserve’s pledge to be patient in raising borrowing costs further, while U.S. bond yields fell on indications of weaker than expected inflation. FILE PHOTO: The seal for the Board of Governors of the Federal Reserve System […]

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UPDATE 1-ECB Weidmann sees longer growth slump, inflation miss

FRANKFURT () – Germany’s economic slump will be longer than earlier thought and there is more bad news in the pipeline, Bundesbank President Jens Weidmann said on Thursday, presenting an unusually gloomy outlook for Europe’s biggest economy. FILE PHOTO – Germany’s Bundesbank President Jens Weidmann arrives to deliver a speech in Berlin, Germany, August 23, […]

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Trump considering Herman Cain for Fed board seat-Bloomberg reporter

FILE PHOTO: The Federal Reserve building pictured in Washington, U.S., July 16, 2018. /Leah Millis/File PhotoWASHINGTON () – U.S. President Donald Trump is considering Herman Cain for a seat on the Federal Reserve board, a Bloomberg reporter said on Twitter. Cain made his fortune as pizza executive before making a bid to be the Republican […]

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UPDATE 3-Intel makes interim CEO Swan permanent, bucking history of insiders

() – Intel Corp made interim Chief Executive Officer Robert Swan’s role permanent on Thursday, marking the first time the chipmaker has picked a leader who did not rise through the company ranks. FILE PHOTO: Intel logo is seen behind LED lights in this illustration taken January 5, 2018. /Dado Ruvic/Illustration/File PhotoSwan, 58, who was […]

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UPDATE 2-Intel makes interim CEO Swan permanent, bucking history of insiders

() – Intel Corp made interim Chief Executive Officer Robert Swan’s role permanent on Thursday, marking the first time the chipmaker has picked a leader who did not rise through the company ranks. FILE PHOTO: Intel logo is seen behind LED lights in this illustration taken January 5, 2018. /Dado Ruvic/Illustration/File PhotoSwan, 58, who was […]

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Poland’s Pekao sees profit rise in 2019 despite tight market

WARSAW, Jan 31 () – Poland’s second biggest state-controlled lender Bank Pekao aims to increase net profit this year despite rising market competition Chief Financial Officer Tomasz Kubiak said. In 2018 Pekao booked net profit of around 2.2 billion zloty ($591.35 million), according to the average of analysts’ estimates, published by the bank. The bank […]

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UPDATE 4-Berry Global weighs bid for packager RPC in challenge to Apollo

() – Berry Global Group is considering a cash offer for British packager RPC Group in a challenge to a 3.3 billion pound ($4.3 billion) bid from the U.S. company’s former parent, Apollo Global. Apollo agreed to acquire RPC last week after months of negotiations, marking the latest M&A deal in the consolidating packaging sector. […]

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UK’s Euromoney names Leslie Van de Walle chairman

Jan 31 () – British business-to-business information provider Euromoney Institutional Investor Plc said on Thursday it had named Leslie Van de Walle as non-executive chairman effective March 1. Euromoney said Van de Walle, who is currently deputy chairman at Crest Nicholson Holdings Plc, would replace acting Chairman David Pritchard, who retires on Feb. 28. (Reporting […]

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UPDATE 2-Mastercard profit beats on holiday season boost

() – Mastercard Inc joined rival Visa Inc in reporting a bigger-than-expected quarterly profit, as a strong holiday season led to a surge in transactions on its payments network, sending its shares up 5 percent before the bell. FILE PHOTO: A Mastercard logo is seen on a credit card in this picture illustration August 30, […]

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UPDATE 3-Skirting U.S. sanctions, Europeans launch trade mechanism for Iran

PARIS/BERLIN () – France, Germany and Britain have set up a mechanism for non-dollar trade with Iran to avert U.S. sanctions, although diplomats acknowledge it is unlikely to free up the big transactions that Tehran says it needs to keep a nuclear deal afloat. Iran’s President Hassan Rouhani speaks during his visit to the shrine […]

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First Abu Dhabi Bank to raise foreign shareholder limit

DUBAI, Jan 31 () – First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates, beat analysts’ forecasts with a 4 percent rise in fourth-quarter profit on Thursday and said it planned to raise its foreign ownership limit. FAB said it proposed to its board increasing its foreign ownership limit to 40 […]

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EU charges eight banks over euro govt bond trading cartel

BRUSSELS () – The European Union’s antitrust authority said on Thursday that it had charged eight unnamed banks with operating a cartel in trading euro zone government bonds between 2007 and 2012. In a statement, the European Commission said some traders at the banks exchanged commercially sensitive information and coordinated trading strategies on the euro-denominated […]

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UPDATE 3-Berry Global weighs bid for packager RPC in challenge to Apollo

() – Berry Global Group is considering a cash offer for British packager RPC Group in a challenge to a 3.3 billion pound ($4.3 billion) bid from the U.S. company’s former parent, Apollo Global. Apollo agreed to acquire RPC last week after months of negotiations, marking the latest M&A deal in the consolidating packaging sector. […]

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General Electric swings to small profit in Q4

FILE PHOTO: The logo of General Electric Co. is pictured at the Global Operations Center in San Pedro Garza Garcia, neighbouring Monterrey, Mexico, May 12, 2017. /Daniel Becerril/File Photo() – U.S. industrial conglomerate General Electric Co reported a $666 million profit for the fourth quarter, recovering from the $23 billion charge it took three months […]

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UPDATE 2-European powers launch mechanism for trade with Iran

PARIS/BERLIN () – France, Germany and Britain have set up a European mechanism for non-dollar trade with Iran to avert U.S. sanctions, although diplomats acknowledged it is unlikely to yield big commercial transactions Tehran says it needs to keep a nuclear deal afloat. Iran’s President Hassan Rouhani speaks during his visit to the shrine of […]

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