Business News Headlines

Alibaba surges 38 percent on massive demand in market debut

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NEW YORK - Alibaba Group Holding Ltd's shares soared 38 percent in their first day of trading on Friday as investors jumped at the chance for a piece of what is likely to rank as the largest IPO in history, in a massive bet on China's burgeoning middle class. | Video

1:23am BST

Exclusive - Hyundai directors kept in dark on size of $10 billion land bid: sources

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SEOUL - Hyundai Motor and two listed affiliates did not seek board clearance for the size of their record $10 billion (6.14 billion British pound) bid for a plot of land in Seoul, more than triple its appraised value, four board members of the companies told Reuters.

2:56pm BST

Fri, Sep 19 2014

Relief, not euphoria, for UK markets as Scots vote to stay

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LONDON - British financial markets rose and a collective sigh of relief echoed across the investment and business community on Friday after a Scottish vote against independence averted the deep uncertainty a United Kingdom break-up would have unleashed. | Video

19 Sep 2014

Bank of England says its bond-buying failed to boost bank lending

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LONDON - The Bank of England's 375 billion pounds of stimulus pumped into Britain's financial system did not boost bank lending, research from the central bank showed on Friday, although it helped turn the economy round in other ways.

UK 19 Sep 2014

EU mulls tapping unused rescue funds to boost investment - paper

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BERLIN - Unused funds in the euro zone's rescue mechanism could be used to boost investment across the continent and help it recover from the worst financial crisis in a generation, according to a German newspaper report on Saturday.

2:15pm BST

ESM's chief says EU, IMF in no mood for a Greek debt haircut

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ATHENS - Greece's international creditors have no appetite for considering a haircut as a way to lighten its debt load, the head of the European Stability Mechanism, the euro zone's bailout fund organisaton, told Greek Sunday newspaper Realnews.

6:58pm BST

Ernst & Young in tentative deal in Canada on Sino-Forest audit

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TORONTO - Major accounting firm Ernst & Young LLP [ERNY.UL] has reached a tentative settlement with Canada's biggest securities regulator over its audits of Sino-Forest Corp [SCLC.UL] and another China-focused company, the Ontario Securities Commission said on Friday.

1:32am BST

As G20 chases growth goal, members differ on how to get there

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CAIRNS Australia - Financial leaders of the Group of 20 top economies remain committed to chasing higher global growth, but were divided on how to achieve it as Germany pushed back at calls from the United States and others for more immediate stimulus.

G20 2:01pm BST

Air France pilots extend strike until Sept. 26

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PARIS - Air France pilots have voted to extend their week-long strike over cost cuts and plans for the company's Transavia unit by a further four days until Sept. 26, the head of the SNPL union said on Saturday.

Telefonica resolves Brazil antitrust issues with GVT deal - sources

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BRASILIA - Spain's Telefonica SA has resolved the antitrust concerns it faced in Brazil by getting rid of its Telecom Italia stake in a deal finalised on Friday to acquire local broadband provider GVT, according to two government sources.

Spain 19 Sep 2014