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Royal Bank of Scotland faces $6 billion investor action

LONDON - A group of shareholders in Royal Bank of Scotland is suing the lender and four former directors for losses they claim they incurred when the bank succumbed to a state bailout in 2008.

action billion london royal scotland

Found 1 month ago on channel Reuters

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Tesco Barely in Profit as it Prepares U.S. Exit

(LONDON) — Tesco PLC, Britain’s largest supermarket operator, says it is looking to sell its U.S. operations after failing to make an impression over six years. Tesco said Wednesday that net profit for the year dropped 96 percent to 120 million pounds ($183 million) following a 1.2 billion pounds writedown to exit its Fresh & Easy brand in the U.S. It also took an 804 million pounds writedown on its U.K. property portfolio. Fresh & Easy has nearly 200 stores in California, Arizona and Nevada. Tesco says it is also leaving Japan and taking a more measured approach to growth in China. Chief Executive Philip Clarke told the BBC that the decision to leave the United States was right for shareholders and that the company was looking for a single buyer. MORE: How the Entry of Walmart and Big Retail Chains Will Change India

arizona bbc billion britain california china clarke decision impression india japan london million nevada operations philip plc states tesco united walmart

Found 1 month ago on channel TIME Business

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Tesco quits U.S. as profits fall for first time in 20 years

LONDON - Tesco, Britain's biggest retailer, confirmed it will exit its loss-making business in the United States, taking a 1 billion pound ($1.53 billion) write-off that knocked its year profit down for the first time in two decades.

billion britain business london states tesco united

Found 1 month ago on channel Reuters

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Daimler sale of EADS stake may raise 2.3 billion euros: source

LONDON - Daimler is offering its 7.5 percent stake in Airbus parent company EADS at between 36.20 euros and 37 euros per share, a source close to the deal said.

airbus billion daimler eads london

Found 1 month ago on channel Reuters

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Glencore concessions to China expected for Xstrata deal

LONDON - Trader Glencore is expected to agree to concessions this week to ease Chinese worries over its grip on the supply of copper, clearing the final regulatory hurdle in its $32 billion acquisition of miner Xstrata.

acquisition billion china chinese concessions glencore london xstrata

Found 1 month ago on channel Reuters

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Royal Bank of Scotland faces $6 billion investor action

LONDON - A group of shareholders in Royal Bank of Scotland is suing the lender and four former directors for losses they claim they incurred when the bank succumbed to a state bailout in 2008.

Tesco Barely in Profit as it Prepares U.S. Exit

Tesco quits U.S. as profits fall for first time in 20 years

LONDON - Tesco, Britain's biggest retailer, confirmed it will exit its loss-making business in the United States, taking a 1 billion pound ($1.53 billion) write-off that knocked its year profit down for the first time in two decades.

Daimler sale of EADS stake may raise 2.3 billion euros: source

LONDON - Daimler is offering its 7.5 percent stake in Airbus parent company EADS at between 36.20 euros and 37 euros per share, a source close to the deal said.

Glencore concessions to China expected for Xstrata deal

LONDON - Trader Glencore is expected to agree to concessions this week to ease Chinese worries over its grip on the supply of copper, clearing the final regulatory hurdle in its $32 billion acquisition of miner Xstrata.

tibidy-business.com

Cross-read the freshest news on business and global market places.

Royal Bank of Scotland faces $6 billion investor action

LONDON - A group of shareholders in Royal Bank of Scotland is suing the lender and four former directors for losses they claim they incurred when the bank succumbed to a state bailout in 2008.

Tesco Barely in Profit as it Prepares U.S. Exit

Tesco quits U.S. as profits fall for first time in 20 years

LONDON - Tesco, Britain's biggest retailer, confirmed it will exit its loss-making business in the United States, taking a 1 billion pound ($1.53 billion) write-off that knocked its year profit down for the first time in two decades.

Daimler sale of EADS stake may raise 2.3 billion euros: source

LONDON - Daimler is offering its 7.5 percent stake in Airbus parent company EADS at between 36.20 euros and 37 euros per share, a source close to the deal said.

Glencore concessions to China expected for Xstrata deal

LONDON - Trader Glencore is expected to agree to concessions this week to ease Chinese worries over its grip on the supply of copper, clearing the final regulatory hurdle in its $32 billion acquisition of miner Xstrata.

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