16 June, 2015 by The TZ Newswire Staff Comments Off on Russia isolation won’t stop investment: Sistema
Russia isolation won’t stop investment: Sistema
Despite sanctions, political isolation & business risks in a rocky environment, Sistema’s CEO said Russia was still their key market.
16 June, 2015 by The TZ Newswire Staff Comments Off on The Wall Street Journal: Bank of China becomes first Chinese bank to help set gold price
The Wall Street Journal: Bank of China becomes first Chinese bank to help set gold price
A Chinese bank will for the first time join the group of lenders that sets global gold prices, marking another step in China’s push for a bigger role in international financial markets.
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16 June, 2015 by The TZ Newswire Staff Comments Off on Chase Carey to stay at Fox to advise newly promoted Murdoch sons
Chase Carey to stay at Fox to advise newly promoted Murdoch sons
The company’s board on Tuesday promoted James to chief executive and his brother, Lachlan, to executive co-chairman, while naming Carey executive vice chairman. Rupert Murdoch, who controls Fox through a trust that owns 39 percent of the voting shares, will become executive co-chairman.
16 June, 2015 by The TZ Newswire Staff Comments Off on Asia stocks tread water, China sinks, all eyes on Fed
Asia stocks tread water, China sinks, all eyes on Fed
Asian shares held near three-month lows on Wednesday as a rally in Chinese stock markets faltered, while the U.S. dollar stayed static as investors waited for clues from a Federal Reserve meeting on when U.S. interest rates are likely to rise. MSCI’s index of Asia-Pacific shares outside Japan edged up 0.4 percent from a three-month low on Tuesday. Hong Kong’s stock market was wallowing at two-month lows.
16 June, 2015 by The TZ Newswire Staff Comments Off on A year after the crash, oil markets risk more trouble ahead
A year after the crash, oil markets risk more trouble ahead
SINGAPORE/LONDON/NEW YORK/TOKYO (Reuters) – A year on from the start of one of the biggest oil price crashes in history, the driving force behind the slide remains intact: there is still too much crude. While output continues to grow, the economic outlook has darkened in top energy consumer China, where oil demand has been one of the few bright spots in the market. Add to the mix record output by the Organization of the Petroleum Exporting Countries (OPEC) and the possibility of a return of Iranian crude exports, and further price turbulence looks almost certain.
16 June, 2015 by The TZ Newswire Staff Comments Off on Bondholders clash with Colt as U.S. gun maker’s bankruptcy begins
Bondholders clash with Colt as U.S. gun maker’s bankruptcy begins
Colt Defense filed for Chapter 11 bankruptcy on Sunday, after a year of sharply falling sales and dwindling cash that made it hard for the company to meet demand for its sports rifles and handguns. A bondholder attorney told Judge Laurie Silverstein in Wilmington, Delaware, that Sciens was to blame for Colt’s inability to compete. Colt had planned to use the hearing to seek approval to borrow $20 million from its current lenders.
16 June, 2015 by The TZ Newswire Staff Comments Off on JPMorgan wins dismissal of shareholder lawsuit over London Whale
JPMorgan wins dismissal of shareholder lawsuit over London Whale
JPMorgan Chase & Co (JPM.N) officials including Chief Executive Officer Jamie Dimon do not have to face a shareholder lawsuit claiming they failed to properly investigate the “London Whale” trading scandal that caused $6.2 billion in losses, a federal appeals court ruled on Tuesday. The 2nd U.S. Circuit Court of Appeals in New York said a lower court judge did not abuse his discretion by dismissing the lawsuit by shareholder Ernesto Espinoza.