Australian Shares Slide As Europe Concerns Rise
Australian shares declined Monday amid renewed concerns about Europe's debt problems, with the benchmark S&P/ASX 200 index falling 0.9% to 4,160.80 in early trading.
Andy Haste Leads Bid For Direct Line
Andy Haste, the former chief executive of RSA Insurance Group PLC (RSA.LN), is leading a private-equity consortium looking to bid for Direct Line Group, the insurance business being sold by Royal Bank of Scotland Group PLC (RBS.LN), the Sunday Telegraph reported.
Japan Stocks Fall Sharply As Europe News Weighs
Japanese stocks moved sharply lower in early Monday trade, as news of a possible cut-off of Greek aid and a consequently weaker euro hit shares, along with losses Friday in the U.S. The Nikkei Stock Average lost 1% to 8,584.38, while the Topix fell 0.9%.
China Merchants Bank to Extend Validity Period of Rights Issue Plan By 12 Months
China Merchants Bank Co. (3968.HK) said Monday it proposes to extend the validity period of its planned 35 billion yuan ($5.5 billion) worth of rights issue plan by twelve months.
Japan Steel Makers To Show Big Profit Drop: Report
Japan's top steel producers JFE Holdings Inc. and Nippon Steel Corp. are set to post heavy drops for their group pretax quarterly profits, the Nikkei business daily reported Sunday.
BP Urges $1 Billion TNK-BP Dividend
U.K. oil company BP PLC has proposed that its Russian joint venture TNK-BP pay shareholders a $1 billion interim dividend, TNK-BP said in a statement.
Japan Electronic-parts Orders To Rebound: Report
Japan's top six electronic-parts makers are likely to post their first gain in six quarters for orders, which are expected to rise collectively by 5% from a year earlier, the Nikkei business daily reported Monday.
NRG Energy, GenOn Energy to Merge in $1.7 Billion Deal
NRG Energy Inc. (NRG) said Sunday that it plans to acquire rival GenOn Energy Inc. (GEN) in a $1.7 billion all-stock deal that would create the largest competitive power company in the U.S.
Greece Seeks Billions Of Euros More In Cuts: WSJ
Greece's new coalition government plans to announce new cost-saving steps and is looking for billions of euros in new budget cuts ahead of a meeting later this week with international inspectors, The Wall Street Journal reported Sunday, citing unidentified officials.