Business  February 05, 2016
Argentina offers $6.5 bn to 'holdout' creditors: mediator
ArgentinaArgentina's new government has offered $6.5 billion to settle its long debt battle with "holdout" creditors, US mediator Daniel Pollack said Friday.The offer was made in New York talks with hedge funds and other creditors who have demanded repayment of about $9 billion on bonds the country defaulted on 15 years ago....  Full Story
LinkedIn shares dive on weak forecast
LinkedIn shares plunged more than 40 percent after a weak outlook from the career-focused social network fueled fears of a slowdownLinkedIn shares plunged more than 40 percent on Friday after a weak outlook from the career-focused social network fueled fears of a slowdown.The shares dived 43.6 percent to close at $108.38, its lowest since late 2012.LinkedIn reported a loss of $166 million for 2015, far wider than the $16 million deficit for 2014.But investors were unsettled by...  Full Story
HSBC to pay $601 mn for shoddy US mortgage practices
British banking giant HSBC is to pay more than $600 million to US authorities for its abusive mortgage lending and foreclosure practices in the housing marketBritish banking giant HSBC is to pay more than $600 million to US authorities for its abusive mortgage lending and foreclosure practices in the housing market, officials said Friday.HSBC, Europe's biggest bank, will pay $470 million to settle the allegations by the US government, 49 states and the District of Columbia, the Justice Department said i...  Full Story
French vintners left pink-faced over fake rose wine
Contrary to popular misconception, rose wine is not made by mixing white and red wine, a practice which is frowned upon by most producersSome people may wrongly believe that rose wine is made by mixing red and white wine but vintners should know better -- as one French winemaking group learned when they were hit with a fine for doing just that.The Vinovalie wine-growing association, based in the southwestern Tarn region, was fined more than 10,000 euros ($11,000) for turning to the ...  Full Story
European, US stocks softer on mixed US jobs data
Japanese stocks fell into the red on February 5, 2016, as the stronger yen hit exportersEuropean stocks gave up early gains and Wall Street also fell Friday after a US jobs report sent conflicting signals about the economy, reviving jitters about global growth.Shares in London, Frankfurt and Paris all dipped after rising earlier in the session following data that showed US hiring slowed last month but that the jobless rate has fallen ...  Full Story
ArcelorMittal to mine stock market after massive loss
ArcelorMittal, the worldArcelorMittal said Friday it would ask shareholders for fresh funds, sell assets and slash costs after falling commodity prices pummelled its performance last year, leaving a gaping hole in its accounts.The world's largest steelmaker reported a net loss of $7.95 billion for 2015, more than four times the previous year's net loss of $1.86 billion in...  Full Story
VW delays 2015 results, shareholders' AGM over emissions probe
Embattled German auto giant Volkswagen is postponing publishing its 2015 annual resultsEmbattled German auto giant Volkswagen said Friday it would postpone publishing its 2015 annual results, as well as its shareholder meeting due to an ongoing probe into a global emissions-cheating scandal.The earnings news conference had been scheduled for March 10 and the shareholders' annual general meeting (AGM) for April 21, but new dates for b...  Full Story
BG Group returns to profit before takeover by Shell
Royal Dutch Shell is very near to finalising a £47-billion ($68-billion, 62 billion-euros) takeover of its smaller British rivalBritish energy group BG Group on Friday announced a return to net profit ahead of its takeover by Shell as exceptional 2014 losses were not repeated last year.However as seen across the sector, BG's day-to-day operating profits plunged in 2015 owing to slumping oil prices, according to a company statement.The update comes as Royal Dutch Shell is ve...  Full Story
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