GM Postpones Brazil Layoffs Until November - Reuters
General Motors Co. (GM) and a union in Brazil have agreed to postpone until November a decision to lay off nearly 2,000 workers, Reuters reported Sunday.
Fortescue Secures US$1.5 Billion in Loans, Credit for Expansion
Fortescue Metals Group Ltd. (FMG.AU) said it has secured US$1.5 billion in loans and credit to help fund the expansion of operations in Western Australia.
IAG Mulls Taking Stake In American Airlines
International Consolidated Airlines Group SA (ICAGY, IAG.MC, IAG.LN) is mulling the purchase of a minority stake in American Airlines, and is hoping to ensure the U.S. carrier stays in the OneWorld Alliance, The Financial Times reports on its website Sunday.
Bank Of Italy Head Sees ECB Easing in Next Months
Bank of Italy Governor Ignazio Visco said Sunday the economic and financial emergency is not over and, in light of persistent recessionary prospects, the European Central Bank may loosen its monetary policy in the next few months.
Marks & Spencer Seen as Bid Target - Newspaper
U.K. retailer Marks & Spencer Group PLC (MAKSY) is being eyed as a potential 6 billion pound (9.4 billion dollar) bid target after a 50% slump in its shares since 2007, the Sunday Telegraph reports, citing banking sources.
UBS Fires Traders and Managers Over Libor
Switzerland's biggest bank UBS AG (UBS) has fired about 24 traders and managers in connection with an investigation into the manipulation of benchmark Libor interest rate, Swiss newspaper Der Sonntag reports.
Barclays Plans Block on Bankers' Bonuses
Barclays PLC (BCS) is working on a radical new pay scheme that could see bonuses for top executives cut and not paid out until they retire, the Sunday Times reports without citing sources.
Spain in no Rush to Request Help: Fin Min de Guindos
Spain has no rush to request a new European bailout and can afford to wait until more details come to light about the conditions tied to it, Finance Minister Luis de Guindos said.
AIG, Other Insurers in U.S. Consumer Bureau Probe
The Consumer Financial Protection Bureau is probing American International Group Inc. (AIG), Genworth Financial Inc. (GNW) and other firms as part of a broad, industry-wide investigation into whether companies' mortgage insurance practices comply with federal real-estate law.
ThaiBev Gets $2.25 Billion Loan for Fraser & Neave Deal
Thai Beverage PCL (Y92.SG) said Saturday it has secured bridge loans worth 2.8 billion Singapore dollars (US$2.25 billion) to fund its acquisition of a 22% stake in Singapore beverage company Fraser & Neave Ltd. (F99.SG).