RBS boss waives 1m pound bonus
LONDON: The chief executive of Britain's state-rescued Royal Bank of Scotland has bowed to intense political pressure and waived his annual bonus worth almost £1.0 million, the lender said on Monday.
S&P downgrades Japan's NEC
TOKYO: Standard & Poor's on Monday downgraded the credit rating of Japanese electronics giant NEC, in a further blow to the company after it announced thousands of job losses last week.
UBS trader pleads not guilty to London 'rogue trading'
LONDON: A trader at Swiss bank UBS pleaded not guilty on Monday to losing $2.25 billion (1.7 billion euros) in fraudulent trades in London, clearing the way for a trial later this year.
Japan's Fujifilm seeks tie-up with Olympus
TOKYO: Japanese film and camera maker Fujifilm has offered scandal-hit Olympus a capital and business tie-up, it said Monday as it announced a slump in third-quarter profits.
Japan megabank SMFG sees 9-month profit fall 20%
TOKYO: Japanese megabank Sumitomo Mitsui Financial Group (SMFG) said Monday net profit dropped 20.2 percent for the nine months to December due to a corporate tax revision.
Asia stocks end down on weak US growth data
HONG KONG – Asia's first full day of trading following the Lunar New Year holiday saw markets mostly slip on Monday after US growth data came in below expectations and profit-takers cashed in recent gains.
China says currency reform to boost Shanghai
SHANGHAI – China on Monday pledged to increase the use of the yuan in international trade and encourage foreign investment in Shanghai markets, as it seeks to build the city into a major global financial centre.
S. Korea minister calls trade pact with China necessary
SEOUL: South Korea's finance minister called on Monday for early negotiations on a free trade pact with China so Seoul can compete against Taiwan in the lucrative Chinese market.
Singapore's Tiger Airways buys Indonesia carrier stake
SINGAPORE: Singapore budget airline Tiger Airways said on Monday it had bought a 33 percent stake in beleaguered Indonesian carrier PT Mandala Airlines as part of its regional expansion plans.
EU drafts law "to respond to Chinese protectionism"
FRANKFURT: The European Union is drafting a law in response to Chinese protectionism in public markets, EU trade commissioner Karel De Gucht told the German Focus magazine in an interview to appear Monday.
UBS 'rogue trader' due to enter plea
LONDON: A trader accused of a $2.25 billion fraud at Swiss bank UBS is due to enter his plea in a London court on Monday.
Philippine growth slows to 3.7% in 2011
MANILA: The Philippine economy grew a "feeble" 3.7 percent last year amid lacklustre government spending and bleak global conditions, authorities announced Monday.
Citi chairman plans to step down: report
WASHINGTON: Citigroup chairman Richard Parsons, who helped steer the bank through the aftermath of the 2008 financial crisis, is considering stepping down after three years in the post, The Wall Street Journal reported.
China govt debt "controllable", says PM Wen
BEIJING: Chinese Premier Wen Jiabao said government debt was "overall safe and controllable" and key projects would continue to receive funding to avoid "systemic risks", state media said on Monday.
Asian markets lower after weak US growth data
HONG KONG: Asia's first full day of trading following the Lunar New Year holiday saw markets mostly slip on Monday after US growth data came in below expectations and profit-takers cashed in recent gains.
Oil prices lower over eurozone debt worries
SINGAPORE: Oil prices were lower in Asian trade Monday as the market awaited the outcome of a European Union summit on containing the eurozone debt crisis, analysts said.
Belgium on strike as EU leaders ready to open summit
BRUSSELS: Belgian rail workers launched a national strike in protest at EU-ordered austerity cuts just as European leaders were to gather for a Brussels summit on the debt crisis.
S. Korea Dec current account surplus hits US$3.96b
SEOUL: South Korea posted a current account surplus for the 22nd straight month in December despite the global economic slowdown, the central bank said Monday.
|