Business
Latest stories
Alibaba IPO Comes with Unusual Structure

Foreigners who want to buy Alibaba Group shares in the Chinese e-commerce giant's U.S. public offering will need to get comfortable with an unusual business structure.

Alibaba's online and mobile commerce businesses will be controlled by a "variable interest entity," an arrangement meant to allow investors to buy into Internet and other businesses in which Beijing bans or limits foreign ownership.

W140 Full Story
Heineken Says Selling Mexican Packaging Business for $1.2 bn

Dutch brewing giant Heineken on Monday announced selling Mexican-based packaging business Empaque to U.S.-based Crown Holdings in a deal worth more than one billion dollars.

W140 Full Story
'Blair-Like' PM Divides French Socialists

Splits in France's ruling Socialist Party, which sparked an emergency government reshuffle last week, continue to widen as members on the left flank snipe at a prime minister they see as attempting a "Tony Blair"-style lurch to the right.

W140 Full Story
CaixaBank to Buy Barclays Spain Operations

Spain's third-biggest bank by capitalisation CaixaBank is to buy Barclays' Spanish operations for 800 million euros ($1.1 billion) as the British bank undergoes major restructuring, Barclays said on Sunday.

W140 Full Story
Hollande Announces EU Summit on Economy in Italy October 6

French President Francois Hollande announced on Saturday that EU leaders would hold a summit in Italy in early October aimed at boosting growth and jobs in the bloc.

"We supported the proposal of (Italian Prime Minister) Matteo Renzi to have a summit of the 28 (EU member states) in Italy on October 6," Hollande told reporters after a meeting of center-left leaders in Paris.

W140 Full Story
Ecuador Heralds Digital Currency Plans

Ecuador is planning to create what it calls the world's first digital currency issued by a central bank, which some analysts believe could be a first step toward abandoning the country's existing currency, the U.S. dollar.

The electronic money, which Central Bank officials say they expect will start circulating in December, does not have a name and officials would not disclose technical details, though they said it would not be a crypto-currency like Bitcoin. The amount of the new currency created would depend on demand.

W140 Full Story
IMF Board Expresses Confidence in Lagarde

The board of the International Monetary Fund reiterated its support for Managing Director Christine Lagarde Friday, after a French court placed her under formal investigation in a graft scandal.

"As we have said before, it would not be appropriate to comment on a case that has been and is currently before the French judiciary," it said in a statement.

W140 Full Story
S&P Sets New Record Despite Rising Ukraine Tensions

The S&P 500 closed August with another record Friday, continuing its slow climb even as tensions pick up in Ukraine and after Britain warned of a possible terror attack.

The broad-market gauge pushed back above 2,000, the milestone it closed above for the first time on Tuesday, to finish at 2,003.37, up 6.63 points (0.33 percent) for the day.

W140 Full Story
Brazil Falls into Recession as Election Looms

Brazil, Latin America's largest economy, has slid into recession, further weakening President Dilma Rousseff, who faces an increasingly tough re-election battle on October 5.

GDP shrank 0.6 percent in the second quarter, Brazil's national statistics institute said Friday, and revised its formerly positive growth estimate for the first quarter down to -0.2 percent.

W140 Full Story
Eurozone Inflation Falls to 0.3%, as Deflation Knocks

Eurozone inflation fell to 0.3 percent in August, raising the dangers of deflation and also pressure on the European Central Bank to open up the cash floodgates, data showed on Friday.

The latest fall takes the rate down from 0.4 percent in July and from 1.3 percent a year ago, and to far below the ECB's target of just under 2.0 percent.

W140 Full Story