LONDON, April 23 Reuters HSBC39;s most vocal individual activist shareholder Ken Lui on Monday said he had spoken for the first time with the bank39;s largest investor, Ping An, about their controversial proposals to spin off the lender39;s Asia business. Top management executives of Ping An Asset Management, an investment unit of the Chinese insurer, exchanged […]

PARIS, April 24 Reuters Debtladen supermarket chain Casino and smaller food retailer Teract said on Monday that Groupement Les Mousquetaires, owner of supermarket chain Intermarche, had joined their exclusive tieup talks. Under the planned deal, Groupement Les Mousquetaires and Casino are considering extending their purchasing alliances by two years until 2028. They are also considering extending their […]

ZURICH, April 24 Reuters Switzerland39;s UBS said on Monday it will retain Christian Bluhm as chief risk officer for the foreseeable future as it bolsters controls during the takeover of Credit Suisse. Chief Executive Sergio Ermotti is reshaping the ranks of UBS as it works on integrating Credit Suisse, the 167yearold Swiss banking rival which it […]

TOKYO, April 24 Reuters Japanese electric motor maker Nidec Corp on Monday posted its first quarterly operating loss in a decade, hit by hefty restructuring costs and difficulty in procuring semiconductors and other components. The loss of 24.3 billion yen 181.01 million for the JanuaryMarch quarter compared to an average estimate for a 11.75 billion yen […]

HONG KONG, April 24 Reuters Citigroup39;s Asia wealth revenue surged 20 in the first quarter of 2023, backed by investment gains, insurance revenue and a jump in new private banking clients, according to a company spokesperson. The wealth market in Asia has been undergoing a shakeup as some rich clients fled Credit Suisse amid a banker […]

April 24 Reuters Vivendi said on Monday it had entered into a put option agreement with a subsidiary of Daniel Kretinsky39;s Czech Media Invest CMI to sell its publishing business Editis. Vivendi is set to win EU approval to buy fellow French media group Lagardere after addressing antitrust concerns with its offer to sell Editis and celebrity magazine Gala. […]