Failure of talks between Greece and its creditors would have "extremely serious" consequences for Europe, France's finance minister warned Wednesday on the eve of a crucial ministerial meeting to discuss the crisis.
A breakdown in talks would be "very serious for Greece but also extremely serious for the European project," Michel Sapin told lawmakers.Full Story
Toyota on Wednesday defended a controversial new share sale that critics, led by overseas institutional investors, derided as a bid to tame shareholder activism.
The world's biggest automaker said 75 percent of shareholders voted in favor of the plan on Tuesday that will see it sell up to 50 million new shares, which must be held for five years and will not be publicly traded.Full Story
Every morning on his way to work in Yangon, builder Zaw Min Tun takes a swig of water at a Buddhist temple, a vital place to quench a thirst for the many ordinary citizens left behind by Myanmar's economic boom.
Bottled water is among the plethora of consumer industries set to take off as the country emerges from decades of isolated junta rule, putting more money in the pockets of the country's rich and a growing middle class.Full Story
The Greek central bank warned Wednesday that the country could crash out of the eurozone and even the European Union if it fails to reach a bailout deal with international creditors.
"Failure to reach an agreement would... mark the beginning of a painful course that would lead initially to a Greek default and ultimately to the country's exit from the euro area and -– most likely -– from the European Union."Full Story
Goldman Sachs intends to launch a digital banking division to lend to small businesses and consumers, broadening its clientele from its blue-chip base.
The move reflects the 146-year-old Wall Street giant's belief that new technology allows it to increase its lending pool without being weighed down with branches and other traditional costs associated with lending to smaller parties.Full Story
Greek Prime Minister Alexis Tsipras sought Tuesday to muster domestic support for his government in its tug-of-war with EU-IMF creditors over a deal to save Greece from default.
Tsipras was meeting with a top conservative politician and the leaders of the socialist and pro-EU parties as Greece came under pressure to compromise with no new proposals in the offing.Full Story
Toyota won approval Tuesday for a controversial new stock sale that it defended as a way to lure stable, long-term investors, overcoming stiff opposition from some institutional shareholders overseas.
The world's biggest automaker said 75 percent of shareholders voted in favor of the plan that would see it sell up to 50 million of the new shares, which must be held for five years and would not be publicly traded.Full Story
China had four million millionaire households in 2014, the second-highest in the world after the United States, as the country's stock market boom boosted private wealth, an independent survey showed Tuesday.
One million new millionaires were created in the country last year, the highest increase among all nations, U.S.-based research firm Boston Consulting Group (BCG) said in a report.Full Story
Israel has approved the reopening of around 70 Palestinian shops which it closed 15 years ago in the flashpoint West Bank city of Hebron, its mayor announced on Monday.
"The Israeli army's leadership allowed the reopening of stores on Sahla Street, which runs from the area near the Ibrahimi mosque" through Hebron's old town, Dawud al-Zaatari told journalists.Full Story
French President Francois Hollande on Monday urged a quick restart of talks to save Greece from financial disaster after negotiations in Brussels collapsed at the weekend.
"We now have extremely tight deadlines. We are getting into a period which could be turbulent if no agreement is found. This message is for Greece. It should not wait and should restart discussions with the institutions," Hollande told reporters.Full Story