Money

HNA set to drop acquisition of SkyBridge Capital: WSJ

(Reuters) – Chinese conglomerate HNA Group Co is set to drop its pursuit of hedge-fund investment firm SkyBridge Capital, after facing resistance from Committee on Foreign Investment in the United States (CFIUS), the Wall Street Journal reported on Monday. FILE PHOTO: A HNA Group logo is seen on the building of HNA…

Continue reading

News

Marathon to become top U.S. refiner with $23 billion Andeavor buy

(Reuters) – Marathon Petroleum Corp (MPC.N) agreed to buy rival Andeavor (ANDV.N) for more than $23 billion in the largest-ever tie-up between U.S. refiners, giving the combined company a nationwide presence and increased access to growing export markets. FILE PHOTO: U.S. President Donald Trump delivers remarks on his proposed changes to the…

Continue reading

News

Saudi Aramco appoints first woman to the board

DUBAI (Reuters) – Saudi Aramco, the world’s top oil company which is preparing to go public, said on Sunday it has appointed new members to its board including a female executive, a milestone for Saudi Arabia and the oil industry where there are few women executives. FILE PHOTO: A Saudi Aramco employee…

Continue reading

News

China eases restrictions on foreign ownership of securities ventures

BEIJING (Reuters) – China’s securities regulator has released new guidelines for foreign investment in Chinese security joint ventures in which it eased some restrictions and launched an application process for more foreign ownership. Investors look at an electronic board showing stock information at a brokerage house in Shanghai, China, March 7, 2016.…

Continue reading

News

Sainsbury’s, Walmart’s Asda to create UK supermarket powerhouse

LONDON (Reuters) – Sainsbury’s and Walmart’s Asda are in talks to create Britain’s biggest supermarket group, a combination which would surpass Tesco’s grocery market share and be worth up to 15 billion pounds ($20.7 billion). Sainsbury’s confirmed on Saturday that it and Walmart, the world’s largest retailer, were in advanced discussions regarding…

Continue reading