Barclays, Weighed Down by Litigation Charges, Reported Loss in 2014
LONDON — Barclays said on Tuesday that it fell to a loss in 2014 as the British bank’s annual results were dragged down by charges related to potential fines and…
Tag: billion
German Energy Firm Pushes Ahead on Russian Deal, Despite British Objections
LONDON — The German utility RWE signaled on Sunday that it expected to complete the sale of its oil and gas subsidiary, RWE Dea, to a Russian investment company on…
Lloyds Banking Group Returns to Profit and Resumes Dividend Payments
LONDON — The Lloyds Banking Group said on Friday that it returned to a profit in 2014 as it prepared to pay its first dividend since the lender was bailed…
Scientists discover black hole 12 billion times bigger than the sun
The black hole is larger than any of its age previously seen, the journal “Nature” reports. A black hole is a dense region of space that has collapsed in on…
World’s most popular natural wonders
More than 8 billion people visit national parks and nature reserves every year, and visitors to those protected areas generate more than an estimated $600 billion in tourism dollars annually,…
With 7th Annual Loss, R.B.S. Announces Drastic Restructuring
LONDON — The Royal Bank of Scotland on Thursday reported its seventh annual loss, weighed down by restructuring and litigation costs. The bank, based in Edinburgh, announced another drastic restructuring…
Scientists discover massive ‘young’ black hole
Scientists estimate the black hole to be 12 billion times the size of the Sun and around 900 million years old. A black hole is a dense region of space…
Morgan Stanley To Pay $2.6 Billion Mortgage Settlement
(Adds details) Feb 25 (Reuters) – Morgan Stanley said it will pay $2.6 billion to the U.S. government to resolve potential claims stemming from the sale of mortgage bonds before…
Hong Kong Protests Color Budget Plans
HONG KONG — Two months after protesters were cleared from the streets, the Hong Kong government announced on Wednesday an annual budget full of tax breaks and other handouts to…
Tech Investors Create a Billion-Dollar-Baby Boom
What a difference a year makes. Less than 12 months after investors valued Snapchat, the red-hot messaging app, at about $10 billion, the start-up is again in the market for…
Tech Investors Create a Billion-Dollar-Baby Boom
What a difference a year makes. Less than 12 months after investors valued Snapchat, the red-hot messaging app, at about $10 billion, the start-up is again in the market for…
Tech Investors Create a Billion-Dollar-Baby Boom
What a difference a year makes. Less than 12 months after investors valued Snapchat, the red-hot messaging app, at about $10 billion, the start-up is again in the market for…
Tech Investors Create a Billion-Dollar-Baby Boom
What a difference a year makes. Less than 12 months after investors valued Snapchat, the red-hot messaging app, at about $10 billion, the start-up is again in the market for…
Luis Figo plans $3.5 billion giveaway
The Portuguese great outlined an eye catching $3.5 billion giveaway as he seeks to build a base to challenge Blatter in the May election. Figo’s “For Football Manifesto” promised that…
Two Deals Bring Attention to Banking’s Safra Family
In London, 30 St. Mary Axe — a pickle-shaped office tower known as the Gherkin that was designed by Norman Foster — was on the brink of changing hands for…
Troubled Chinese Property Developer Says Total Debt Exceeds $10 Billion
HONG KONG — The troubled Chinese developer Kaisa Group disclosed on Monday that its debts now total more than $10 billion and that it urgently needs to restructure its borrowings…
Even With Cease-Fire, Economy in Ukraine Is Crumbling
KIEV, Ukraine — The Merefa Glass factory, which has manufactured bottles and jars in Ukraine since 1896 and employed more than 2,000 people, has suspended operations because its main furnace…
Sparkling Water Is The New Soda
The hottest drink in America is water with bubbles. Long a kitchen table staple in European households, sparkling water is making inroads in the U.S. thanks largely to Americans’ waning…
Elon Musk’s ‘insane’ call: Tesla is worth $700 billion
He bases his $700 billion valuation estimate on a couple of assumptions. First, he thinks that the company can continue to report sales increases of 50% a year for the…
I.M.F. Approves $17.5 Billion Bailout for Ukraine
MOSCOW — The International Monetary Fund agreed on Thursday to throw a new $17.5 billion lifeline to Ukraine, hoping to stabilize the country as it teeters on the edge of…
Total, French Oil Giant, Reports $5.7 Billion Loss in Fourth Quarter
LONDON — Total, the Paris-based oil giant, on Thursday reported a loss of $5.7 billion for the fourth quarter of 2014 as it struggles with the deep slump in oil…
Ukraine gets new $17.5 billion International Monetary Fund bailout
The deal replaces a separate $17 billion bailout agreed to last year by the IMF. Only $4.5 billion of those funds were distributed, bringing the IMF’s total commitment to $22…
Eurozone Finance Ministers Hold Emergency Meeting on Greece Bailout
BRUSSELS — Eurozone finance ministers were gathering in an emergency session here on Wednesday, under pressure to hammer out a stopgap plan to keep Greece from running out of money…
White House to File Trade Case Against China at W.T.O. Over Export Subsidies
HONG KONG — The Obama administration announced on Wednesday morning that it was filing a broad trade case against China at the World Trade Organization, accusing Beijing of providing illegal…
English soccer is now world’s 2nd richest sport
Sky (SKYAY) forked out £4.1 billion ($6.3 billion) for the rights to show live 126 of the 168 matches per season until 2019, while rival BT (BT) paid £960 million…
English Premier League Sells British TV Rights for $7.8 Billion
LONDON — The English Premier League, the world’s most widely watched soccer league, said on Tuesday that it had sold British television rights for a record 5.1 billion pounds, or…
Heinz gives ketchup a kick with sriracha
Warren Buffett’s Berkshire Hathaway (BRKA)and the private equity firm 3G Capital bought Heinz for $28 billion in 2013.
Greece to Propose a Debt Compromise Plan to Creditors
ATHENS — Hoping to defuse a standoff that has set Europe and financial markets on edge, Greek officials intend to propose a detailed compromise plan at an emergency meeting with…
Greek Prime Minister Won’t Seek to Extend Bailout
ATHENS — As pressure grows on Greece to reach a deal with its international creditors and avert fears that it will default on its huge debt, Prime Minister Alexis Tsipras…
Greece’s New PM Sets Up EU Clash With Bailout Rejection, Austerity Rollback
By Lefteris Papadimas and Renee Maltezou ATHENS, Feb 8 (Reuters) – Leftist Prime Minister Alexis Tsipras laid out plans on Sunday to dismantle Greece’s “cruel” austerity program, ruling out any…