HONG KONG S&P Global Ratings (S&P) has lowered the outlook for its rating of Fosun International Ltd credit to "negative" from "stable", citing concern about the Chinese conglomerate's debt remaining high after recent acquisitions.
MANILA Philippines' conglomerate San Miguel Corp said on Tuesday that the price tag on its $1.5 billion (1.02 billion pounds) sale of telecoms assets to Philippine Long Distance Telephone Co and Globe Telecom , announced on Monday, was enough to cover costs incurred in developing the business.
BERLIN Volkswagen posted a surprise gain in first-quarter profit on special items related to provisions it has set aside to pay for its diesel emissions scandal, the carmaker said on Tuesday.
SINGAPORE U.S. oil prices rose on Tuesday, buoyed by the start of the U.S. summer driving season, while international fuel markets fell on rising output in the Middle East, which mostly serves Asian customers.
KUALA LUMPUR Malaysia's finance ministry announced on Tuesday a new board of directors for scandal-hit 1Malaysia Development Berhad (1MDB) [TERRN.UL], after the previous board was dissolved following a parliamentary inquiry into the state fund.
LONDON On the last Sunday of February 2016, late in the evening, Genel Energy's Chairman and former BP boss Tony Hayward held an urgent call with the board to break some bad news: the firm's prized oil field was worth much less than they had thought.
TOKYO Finance Minister Taro Aso said on Tuesday that Japan would stick to its aim of achieving its primary budget-balancing target in fiscal 2020 despite a likely delay in the sales tax hike.
TOKYO Delaying a sales tax increase in Japan scheduled for April next year makes "some sense" because the weak economy means a tax rise is not likely to increase revenue, ratings agency Standard & Poor's said on Tuesday.
SINGAPORE/TOKYO Asian shares recovered from a wobbly start on Tuesday, but remained on track for a monthly loss, while the dollar edged away from recent peaks scaled on expectations the U.S. Federal Reserve will raise interest rates as soon as next month.
Petra Diamonds Ltd said Finance Director David Abery would step down, effective June 30, to pursue other opportunities.