FSA's Turner: Dishonesty in Libor System a Thing of the Past
Dishonesty in the setting of a key interest rate at the center of a global scandal is a thing of the past, but regulators still need to tackle structural problems in the rate-setting system, a senior British regulator said Tuesday.
Brazil Retailer Grupo Pao De Acucar 2Q Profit Jumps to BRL255 Million
Brazil's largest retailer, Grupo Pao de Acucar, which is controlled by France's Casino Guichard-Perrachon SA (CGUSY), said late Monday second-quarter profit more than doubled as increasing sales showed the resilience of domestic consumption and also a result of the reduction in debt-servicing costs.
LIC Housing Finance 1Q Net Profit Drops 11%
Indian mortgage lender LIC Housing Finance Ltd. (500253.BY) Tuesday reported an 11% drop in its fiscal-first-quarter net profit as disbursal of loans to housing developers fell.
China State Council to Send Inspection Teams to Check on Property Curbs
China is sending eight teams later this month to various cities and provinces to inspect the implementation of property tightening measures by local authorities, the State Council said in a statement Tuesday.
Volvo to Reduce Production in North America
Swedish auto maker Volvo AB (VOLV-B.SK) Tuesday said it will scale down production in North America this fall as it reported a fall in profit due to weaker demand there and in Southern Europe.
Cheung Kong Infrastructure to Raise up to US$405.2 Million via New Share Placement - Term Sheet
Cheung Kong Infrastructure Holdings Ltd. (1038.HK) is seeking to raise up to US$405.2 million via a new share placement, according to a term sheet seen by Dow Jones Newswires on Tuesday.
German Court Bans Sale of Samsung Tab 7.7, Allows Amended Tab 10.1
A German court Tuesday allowed Samsung Electronic Co. (005930.SE) to sell its amended Galaxy Tab 10.1 inch tablet computer but banned the sale of its 7.7 inch version in the European Union, following allegations by Apple Inc. (AAPL) that the South Korean competitor violates its design patent.
SIA Engineering: 1Q Net Profit S$70.1 Million Vs S$68.1 Million
SIA Engineering Co. Ltd. (S59.SG) said Tuesday first-quarter net profit rose 2.9% on year owing to growth in its fleet-management and line-maintenance business.
India Official: No Immediate Plan to Raise Diesel Prices
India's federal government doesn't have any immediate plans to raise the price of diesel, a senior oil ministry official said Tuesday, citing a lack of consensus.