By Jan Schwartz and Victoria Waldersee HAMBURG/BERLIN (Reuters) -Volkswagen is targeting a valuation of up to 75 billion euros ($75.1 billion) for luxury sportscar maker Porsche, it said on Sunday, in what will be Germany’s second-largest initial public offering (IPO) in history. Volkswagen will price preferred shares in the flotation of Porsche AG at 76.50…
By Jan Schwartz HAMBURG (Reuters) – Volkswagen will price preferred shares in the planned flotation of Porsche AG at 76.50 euros to 82.50 euros ($76.61 to $82.62) per share, the carmaker said on Sunday, generating proceeds of between 8.7 to 9.4 billion euros. The price range, which translates into a valuation of 70-75 billion euros,…
HAMBURG (Reuters) – Volkswagen is targetting a valuation of 70 billion to 75 billion euros ($70.1-75.1 billion) for luxury sportscar maker Porsche as part of a planned initial public offering (IPO) of the division, a person familiar with the matter said. The pricing range formed the basis for discussions in the supervisory board that were…
(Reuters) – A group of bank regulators appointed by U.S President Joe Biden is considering new rules which will require big regional banks to add financial cushions that can be used in times of crisis, the Wall Street Journal reported on Sunday. The new steps include the regional banks raising long-term debt that will help…
MUMBAI (Reuters) – Canadian pension fund Ontario Teachers’ Pension Plan has agreed to buy a 30% stake for 23.71 billion rupees ($297.5 million) in Indian automaker Mahindra’s renewable power assets, an exchange filing showed. “This will enable the Mahindra Group to unlock value in the Renewable Energy Sector and it will continue to invest along…
By Steven Scheer TEL AVIV (Reuters) – Teva Pharmaceutical Industries expects to finalise an opioid settlement in the United States by year-end and start paying in 2023, its chief executive said on Sunday, while also questioning the company’s very low share price. After years of negotiations, Israel-based Teva in July proposed a $4.35 billion nationwide…
(Reuters) – Swiss bank UBS is hiring a team of ‘content reviewers’ to make sure that Chinese research publications by its analysts are free from any “sensitivities”, the Financial Times reported on Saturday. A job advertisement posted by the bank in July for its global wealth management division said that the reviewers would have to…
By Steven Scheer TEL AVIV (Reuters) – Teva Pharmaceutical Industries expects to finalise an opioid settlement in the United States by year-end and start paying in 2023, its chief executive said on Sunday. After years of negotiations, Israel-based Teva in July proposed a $4.35 billion nationwide settlement – mostly cash and partly medicines that will…
KYIV, Ukraine (AP) — Ukrainian President Volodymyr Zelenskyy promised his country there would be no letup in the counteroffensive that has reclaimed towns and cities from Russian troops, as shelling continued Sunday across a wide stretch of Ukraine. Zelenskyy ran through a list of towns that Ukraine has taken back in its lightning push across…
BRUSSELS (AP) — The European Union’s executive branch recommended Sunday that the bloc suspend around 7.5 billion euros (dollars) in funding to Hungary over concerns about democratic backsliding and the possible mismanagement of EU money. The European Commission, which proposes the bloc’s laws and ensures that they are respected, said it was acting “to ensure…
