MILAN – Banca Monte dei Paschi di Siena said on Thursday its board had decided to call a shareholder meeting to vote on the scrapping of a 4 percent ceiling on voting rights.
The Securities and Exchange Commission on Thursday said it charged Revlon Inc with misleading shareholders about details of a “going-private” transaction, and the cosmetics and beauty care company agreed to pay a $850,000 fine. Revlon did not admit or deny wrongdoing in agreeing to settle, the SEC said. (Reporting by Jonathan Stempel in New York; Editing by Gerald E
Media company Gannett Co Inc said on Thursday that it agreed to pay $1.5 billion in cash to buy Belo Corp and assume $715 million in debt, giving television company Belo an enterprise value of $2.2 billion. The deal, which represents a 28.1 percent premium on Belo’s Wednesday closing price, would make Gannett the fourth-largest U.S. owner of major network affiliates, reaching nearly a third of households, according to the company
The U.S. stock market surged on Thursday after an afternoon rally lifted the major averages out of negative territory
The euro hit a four-week high against the dollar on Thursday as investors positioned for the European Central Bank to leave rates unchanged, but uncertainty over the U.S. Federal Reserve’s next move kept equity markets on edge. The ECB cut its main interest rate to a record low 0.5 percent in May and was seen sitting tight as it waits for further evidence of an economic recovery it has predicted will emerge in the second half of the year.
Copyright Reuters 2013 WASHINGTON – The United States was set to relax sanctions on Iran on Thursday to allow American companies to sell mobile phones, software and other technology used for personal communications to Iranians, two U.S. officials said
Copyright Reuters 2013 LONDON – As evidence mounts that a mid-year slowdown taking place in the world economy, the next few days will offer a clearer glimpse of how that will impinge on policymaking and buoyant financial markets. Global stocks stumbled last Thursday in one of the few times the grey economic reality cut through this year’s reverie in financial markets. And that could mark the start of a trend, after Federal Reserve Chairman Ben Bernanke last week hinted the U.S.
LONDON – European stock markets added to the prior day’s sharp losses Friday, tracking stocks lower in the U.S., with better-than-expected economic data failing to offset concerns about a possible end to the U.S.
U.S. stocks lost ground Friday after another volatile session for Asian markets, with upbeat durable-goods data failing to overcome negative sentiment
Copyright Reuters 2013 TOKYO – This week’s turbulence in Tokyo markets exposes a key risk of Prime Minister Shinzo Abe’s all-in strategy to revive Japan’s economy – if investor confidence falters, the government and the Bank of Japan may be left with few options to turn the tide. On Friday, the Nikkei share average had another tumultuous session, traversing a 7.1 percent range between positive and negative territory before ending up 0.9 percent. The violent moves kept investors on edge after a 7.3-percent slide on Thursday, the sharpest drop for the Japanese stock market since the 2011 earthquake and tsunami