HSBC eyes bumper dividend from $10 bln sale of Canada unit to RBC

Deal comes amid stress from Chinese language shareholder Analysts hail ‘smart’ transaction Financial institution may return deal proceeds to shareholders LONDON/TORONTO/NEW YORK, Nov 29 (Reuters) – HSBC (HSBA.L) has agreed to promote its enterprise in Canada to Royal Financial institution of Canada (RY.TO) for C$13.5 billion ($10 billion) in money, paving the best way for … Read more

Vietnam’s VinFast ships first electrical autos to U.S. clients

HAI PHONG, Vietnam, Nov 25 (Reuters) – Vietnam’s electrical car maker VinFast stated on Friday it had shipped its first batch of 999 automobiles to the US, capping a five-year bid to develop an auto manufacturing hub within the Southeast Asian nation for markets in North America and Europe. The primary automobiles are anticipated to … Read more

Crypto lender Genesis says no speedy plans to file for chapter

Nov 21 (Reuters) – Cryptocurrency lender Genesis stated on Monday it has no speedy plans to file for chapter, days after the collapse of crypto trade FTX pressured it to droop buyer redemptions. “Now we have no plans to file chapter imminently. Our aim is to resolve the present state of affairs consensually with out … Read more

SoftBank shares tumble after Vision Fund reports another big loss

TOKYO, Nov 14 (Reuters) – Shares in Japan’s SoftBank Group Corp (9984.T) plunged on Monday after the company reported a heavy loss at its Vision Fund investment arm for a third consecutive quarter. The shares sank 13% in early afternoon trade – heading for their biggest one-day loss in more than two and a half … Read more

Musk sells Tesla shares worth $3.95 bln days after Twitter takeover

Nov 8 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk has sold 19.5 million shares of the electric vehicle maker worth $3.95 billion on Tuesday, according to U.S. securities filings, days after he completed the $44 billion takeover of Twitter Inc. Musk, the world’s richest man, had about $20 billion in cash after … Read more

Philip Morris clinches Swedish Match after smoking out opposition

PMI needs 90% stake for compulsory buyout of minorities PMI believes that target can eventually be reached PMI says top 10 Swedish Match investors tendered shares Nov 7 (Reuters) – Marlboro maker Philip Morris International (PMI) (PM.N) overcame some opposition to clinch 83% of Swedish Match (SWMA.ST), short of the 90% it wanted but enough … Read more

Credit Suisse asks investors for billions after bumper loss

ZURICH, Oct 27 (Reuters) – Credit Suisse, battered by years of scandals, plans to raise 4 billion Swiss francs ($4 billion) by selling stock while slashing thousands of jobs and spinning off its investment bank in an effort to recover from a run of heavy losses. The troubled Swiss bank outlined what its chairman Axel … Read more

Exclusive: Credit Suisse U.S. asset manager draws interest from Janus, Blue Owl and others, sources say

Oct 21 (Reuters) – Money managers such as Janus Henderson Group (JHG.N) and investment firms including Blue Owl Capital Inc (OWL.N) are weighing potential offers for Credit Suisse Group AG’s (CSGN.S) U.S. asset management unit, people familiar with the matter said on Friday. The Swiss bank is seeking buyers for the business as part of … Read more

Nasdaq halts IPOs of small Chinese companies as it probes stock rallies

NEW YORK, Oct 22 (Reuters) – Nasdaq Inc (NDAQ.O) has put the brakes on initial public offering (IPO) preparations of at least four small Chinese companies while it investigates short-lived stock rallies of such firms following their debuts, according to lawyers and bankers who work on such stock launches. The stock exchange operator’s actions come … Read more

Tesla’s Musk says recession could last until 2024

Oct 21 (Reuters) – Tesla Chief Executive Elon Musk said on Friday he thinks a recession will last until the spring of 2024, after earlier saying “a recession of sorts” in China and Europe was weighing on demand for its electric cars. “Just guessing, but probably until spring of ’24,” Musk said on Twitter after … Read more