AC Milan's Chinese buyers showed false bank letter, lender says
The Chinese investor group seeking funds to buy AC Milan, the soccer club owned by former Italian premier Silvio Berlusconi, provided a false bank report during its initial deal negotiations, according to a statement from the lender whose name appears on the documents.Berlusconi's Fininvest agreed last month to sell the team to a group of little-known Chinese investors for €740 million ($1.1 billion), including debt. Apparently the Chinese consortium didn't have all the financing in place..>> view originalOECD Interim Economic Outlook: Rates are low, so borrow and spend
The Organisation for Economic Cooperation and Development has pointed to a way out of what it calls a "low-growth trap" where persistently weaker than expected growth feeds back into expectations and lowers growth still further.Its suggested solution, in its interim economic outlook released in Paris, is for governments to ramp up borrowing, taking advantage of the "fiscal space" created by historically low interest rates that have cut interest payments. OECD Secretary-General Angel Gurria..>> view originalBHP Billiton's Singapore tax bill hits $1.4b
BHP Billiton CFO Peter Beaven says the Singapore tax dispute is over valuations and not tax avoidance and the company is very confident of its position. Wayne Taylor The tax and royalties bill for BHP Billiton's Singapore controversial marketing operation has hit close to $1.4 billion with ongoing audits likely to push the total higher.BHP Billiton chief financial officer Peter Beaven said the tax dispute was a debate about valuations rather th..>> view originalNAB forms tech alliance with banks in Canada, Israel
Jon Davey says NAB wants to boost cyber security capability by working with Israeli start-ups. Josh Robenstone National Australia Bank has formed a strategic alliance with Bank Leumi of Israel and CIBC Bank of Canada which will result in the sharing of some design and development costs for new banking products and digital services and provide access to each other's fintech relationships. As part of the "international banking innovation allianc..>> view originalWesfarmers' Richard Goyder sees pay halved after dismal year
The profit collapse that Wesfarmers' reported last month – thanks to writedowns on its coal business and its poorly performing retail chain, Target – was always going to put a dent in the pay of the conglomerate's chief, Richard Goyder. Wesfarmers' annual report revealed on Wednesday that Goyder's remuneration nearly halved to less than $5.5 million for the year ending June 30, down from $9.8 million the prior year. More Business Videos Previous slide Next slide Target..>> view original'I didn't do the right thing,' former tennis great and BBY director Ken Rosewall tells court
Former tennis great Ken Rosewall has told a Supreme Court examination into the collapse of his family's stockbroking firm BBY that he didn't do enough to arrest a decline in the fortunes of the business.Mr Rosewall appeared on Wednesday at a liquidators' examination into the spectacular demise of the Sydney-based BBY, which collapsed in May last year owing an estimated $61 million to creditors. Former tennis legend and BBY Director Ken Rosewall outside the Supreme court on Wednesday. Photo..>> view originalThe cost of the Samarco disaster to weigh on Mackenzie's hip pocket for some time yet
BHP's chief executive Andrew Mackenzie personally intervened to say he should not receive any bonus payment in the wake of the Samarco dam disaster in Brazil, officials said, although thanks to long-term incentive payments, he still received $US5.9 million in fiscal 2016.This compared with $US6.9 million received a year earlier. More News Videos Previous slide Next slide Brazil mining disaster: how big is it? Stunt pilot centimetres from being decapitated ..>> view originalOne in three Australian workers now regularly works from home
More Australians than ever before are regularly working from home in their main job, the top reason being the need to catch up on unfinished work.An analysis of Australian Bureau of Statistics data reveals the number of employed people who work from home has dramatically risen from 20 per cent of the entire labour force to 30 per cent in 15 years. Luke Driver, with his sons, Jack, 2, and Xavier, 8 months, often works from home. Photo: Janie Barrett Now, nearly half of the 3.5 million pe..>> view originalKathmandu bounces back, eyes overseas expansion
Kathmandu CEO Xavier Simonet says a 64 pct rebound in profit in 2016 proved the business model was not broken. Josh Robenstone Adventure-wear chain Kathmandu is taking a leaf out of the playbook of online retailer Surfstitch, using social media and digital content to encourage customers to spend more on fleeces, hiking boots and sleeping bags.After successfully defending a $324 million takeover offer last year, Kathmandu is relaunching its web..>> view originalMarkets Live: ASX perks up as BoJ tweaks stimulus
So thats one central bank meeting out of the way, but there's another big one looming. The Fed will announce its decision early tomorrow morning, Australian time, and while the vast majority of economists don't expect the central bank to lift US rates this time around, a few doubts have been creeping in. BNP and Barclays are among the minority predicting the Fed will pull off a big surprise. We'll be back tomorrow from 9am - or a bit earlier if we do get a shock rate hike. Thanks for reading ..>> view original
Sunday, September 25, 2016
AC Milan's Chinese buyers showed false bank letter, lender says and other top stories.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment