ZURICH, March 27 Reuters UBS has sealed the sale of Credit Suisse39;s securitised products business to Apollo Global Management as part of efforts to shed noncore assets after its takeover of the collapsed banking group. Apollo will purchase 8 billion of senior secured financing facilities, UBS said on Wednesday, adding that it expects to make a […]

HONG KONGSYDNEY, March 27 Reuters Country Garden has hired Kroll to carry out a liquidation analysis ahead of a court hearing in midMay, according to three sources, as the embattled Chinese developer pushes ahead with its offshore debt restructuring plan. China39;s biggest private developer is facing a liquidation petition for nonpayment of a 205 million loan, with a […]

HONG KONG, March 27 Reuters A group of major bondholders of defaulted Chinese developer Shimao Group said on Wednesday it firmly opposes the firm39;s proposal to revamp 11.5 billion of offshore debt, clouding its prospects amid a deepening crisis in the property sector. The ad hoc creditor group firmly opposes Shimao39;s restructuring proposal, and will unequivocally […]

Rami Baitieh joined as CEO in November Q1 underlying sales up 4.6 Key customer metrics improving Industry data shows firm losing market share LONDON, March 27 Reuters British supermarket group Morrisons reported a seventh straight quarter of underlying sales growth and said its overall performance was improving under new CEO Rami Baitieh. The group owned […]

SINGAPORE, March 27 Reuters HSBC on Wednesday said it is setting up a 1 billion growth fund called ASEAN Growth Fund that provides lending to companies that are scaling up via digital platforms across Southeast Asia. The Londonheadquartered bank is tapping into Southeast Asia39;s digital economy, which it said is among the world39;s fastest growing, […]

STUTTGART, Germany, March 27 Reuters German regional utility EnBW expects core earnings to fall by up to 28 this year on lower selling prices for the power it generates. The company said on Wednesday adjusted earnings before interest, tax, depreciation and amortisation EBITDA are expected to be between 4.6 billion and 5.2 billion euros 5.05.6 billion, […]

BERLIN, March 27 Reuters Leading German economic institutes said on Wednesday they expect the country39;s economy to grow by 0.1 in 2024, slashing their prior forecast of 1.3, as high interest rates, weak global demand and political uncertainty dent hopes for a strong recovery. The institutes now forecast gross domestic product GDP to increase by […]

March 27 Reuters Ithaca Energy has been given a fourweek exclusivity period by Italy39;s Eni, to make an offer for UK exploration and production assets that could expand its output massively, the Londonlisted company said on Wednesday. Buying those assets, including those of Eni39;s recently acquired Neptune Energy, could add a further 40,00045,000 barrels of oil equivalent […]