(Reuters) – National Australia Bank (NAB) on Friday said it would refresh its approach to like-for-like refinancing criteria to help customers who would otherwise fail to meet an industry standard that assesses their ability to repay loans. “We will be refreshing our existing approach to support eligible refinance customers switch to NAB, who are considered…
By Daniel Wiessner (Reuters) -Uber Technologies Inc, DoorDash Inc and other app-based food delivery companies filed lawsuits on Thursday seeking to strike down New York City’s novel law setting a minimum wage for delivery workers. The companies filed separate complaints in New York state court claiming the law, which takes effect July 12, is based…
MADRID (Reuters) – U.S. chipmaker Broadcom will invest in a European Union-funded programme to develop a semiconductor industry in Spain, Chief Executive Charlie Kawwas said late on Thursday. “Excited to announce our decision to invest in Spain’s semiconductor ecosystem under their semiconductor support program,” Kawwas said on his Twitter account. The project in which Broadcom…
MADRID (Reuters) – Spanish soccer club FC Barcelona plans to list its digital unit Barca Media on the Nasdaq Stock Market through the creation of a special purpose acquisition company (SPAC), newspaper Expansion reported on Friday citing unidentified market sources. The plan, which involves Swiss private equity fund Mountain Partners, is still in an ‘initial…
SHANGHAI/SINGAPORE (Reuters) – Chinese banks are facing increasing risks from rising non-performing loans (NPLs) and diminishing returns, making them a lightning rod for investors’ worries about the world’s second-largest economy. Concerns about their exposure to local government financing vehicles (LGFVs), the investment firms that fund mainly infrastructure projects for local governments, and the crisis-hit property…
ROME (Reuters) – The United Nations food agency’s world price index fell in June to its lowest level in more than two years, pushed down by a drop in the cost of sugar, vegetable oils, cereals and dairy products. The Food and Agriculture Organization’s (FAO) price index, which tracks the most globally-traded food commodities, averaged…
(Reuters) -L Catterton, a private equity firm backed by LVMH, is considering strategic options for Birkenstock including an initial public offering, which could value the German sandal maker at more than $6 billion, Bloomberg News reported on Thursday. L Catterton is working with advisers that include Goldman Sachs and JPMorgan on a potential U.S. listing…
(Reuters) -U.S. inspectors have started a fresh round of routine checks on Wall Street-listed Chinese companies’ audits in Hong Kong in recent weeks, a source familiar with the matter said on Friday. The latest inspections, led by the Public Company Accounting Oversight Board (PCAOB), a U.S. audit watchdog, are part of an agreement signed between…
BERLIN (Reuters) – A swift economic recovery for Germany appeared less likely on Friday as data showed a surprise fall in industrial production. Output fell by 0.2% in May compared with the previous month, the federal statistical office said. Analysts polled by Reuters had predicted that output would stagnate. Carsten Brzeski, chief economist at ING,…
(This July 4 story has been refiled to specify data on gallium is for primary gallium only in paragraph 12 and add Canadian gallium producer in paragraph 8) (Reuters) – China said on Monday it will impose export restrictions from Aug. 1 on some gallium and germanium products, metals used in computer chips and other…
