By Maiya Keidan TORONTO (Reuters) – Canadian mergers and acquisitions (M&A) volumes picked up in the second quarter driven primarily by some large proposed transactions, but dealmakers are cautious on the outlook for the rest of the year over global economic concerns and potential interest rate hikes. The total value of Canadian M&A rose to…
TORONTO (Reuters) – Greater Toronto Area (GTA) home prices fell in June, the first drop in five months, as the Bank of Canada’s move to restart its interest rate hiking campaign injected a measure of uncertainty into the market. The average price of a GTA home fell 1.2% in June from May to C$1,182,120 ($890,084),…
By Joyce Lee SEOUL (Reuters) -Samsung Electronics’ June-quarter profit is expected to plunge 96% on-year to the lowest for any quarter in more than 14 years, as a chip glut continues to drive large losses in the tech giant’s cash cow business despite a supply cut. Operating profit for the world’s biggest maker of memory…
By Victoria Klesty OSLO (Reuters) -Norwegian Air has agreed to buy domestic peer Wideroe for 1.13 billion crowns ($106 million) as the reborn airline looks to strengthen its position in its home region. The deal is the latest reshuffling in the Norwegian airline sector that saw newcomer Flyr file for bankruptcy in January having failed…
By A. Ananthalakshmi and Rozanna Latiff KUALA LUMPUR (Reuters) -Malaysia’s central bank kept benchmark interest rates unchanged on Thursday, as expected, amid signs of moderating growth and easing inflation, with economists saying it will likely stay on hold for the rest of the year. Growth in the Southeast Asian economy hit a 22-year high of…
By Hadeel Al Sayegh DUBAI (Reuters) – U.S.-based Verition Fund Management is opening an office in Dubai, joining a raft of other hedge funds including BlueCrest which have expanded to the Gulf region’s financial hub. Verition, which oversees about $7.3 billion in assets, has been licensed to manage assets and conduct other financial services activities,…
By John O’Donnell and Alexandra Schwarz-Goerlich VIENNA (Reuters) – Raiffeisen Bank International is delaying plans to leave Russia, three people familiar with its position said, as Austria steps up its defence of long-standing ties with Moscow. Raiffeisen (RBI), the largest of the Western banks in Russia, had intended to spin off its Russian business, which…
By Maria Martinez BERLIN (Reuters) -German industrial orders rose significantly more than expected in May due to large-scale orders of ships, spacecraft and military vehicles, but analysts said that beyond those exceptional purchases the sector remains under serious pressure. Incoming orders rose by 6.4% on the previous month on a seasonally and calendar adjusted basis,…
By Lewis Jackson SYDNEY (Reuters) – Two lawmakers on Thursday called on PwC Australia to name all the companies it sought to advise on the basis of leaked government tax plans, after a report linked Google to the national scandal first exposed in January. Citing two sources, Reuters reported on Wednesday that Google had received…
By Jason Hovet and Alan Charlish WARSAW/PRAGUE (Reuters) – Central European currencies are expected to weaken over the next 12 months with the Polish zloty taking the biggest hit, a Reuters poll showed, as higher inflation compared to the euro zone and the prospect of interest rate cuts weigh. The region’s currencies have made a…
