Business News

• Graff upbeat on $1 billion IPO despite market slump May 27, 2012
  HONG KONG (Reuters) - London luxury jeweler Graff Diamonds has seen "tremendous interest" for its Hong Kong IPO of up to $1 billion, which is entering its final stretch in the shadow of a global stock market rout. […]
• France Telecom acquires 94 percent of Egypt's Mobinil: bourse May 27, 2012
  CAIRO (Reuters) - France Telecom acquired 94 percent of Egyptian mobile phone company Mobinil in a tender offer, Egypt's stock exchange said on Sunday, giving the French group control of a top sector player in a volatile but lucrative emerging market. […]
• Spain region, Greek exit warnings rattle euro zone May 27, 2012
  (Reuters) - Central banks and companies risk making a grave error if they do not brace for a possible Greek exit from the euro zone, Belgium's foreign minister said on Friday, rattling markets already alarmed by Spain's deteriorating finances. […]
• Lessons from the Rock for Europe's banks May 27, 2012
  LONDON (Reuters) - In November 2010, rumors swirled through financial markets that Spanish bank BBVA was suffering a run on its deposits. The share price fell before excitable traders realized they had made a mistake. […]
• Goldman may break up sale of Swedish oil group: paper May 27, 2012
  LONDON (Reuters) - Goldman Sachs is considering selling off Swedish oil group Svenska Petroleum Exploration in chunks, the Independent on Sunday reported. […]
• Maaden signs $1.5 billion aluminum refinery contract May 27, 2012
  JEDDAH (Reuters) - Saudi Arabian Mining Company (Maaden) has awarded a $1.5 billion contract to South Korea's Hyundai Engineering & Construction Co. to build an aluminum refinery in the kingdom, a bourse statement said on Sunday. […]
• China to encourage private capital in banking industry May 27, 2012
  BEIJING (Reuters) - China will give private capital the same entry standards to the banking industry as other capital, state media said on Sunday, as the government makes its hardest push in a decade to court private investors by welcoming them into a handful of sectors. […]
• BOE'S Dale says expects euro zone uncertainty set to continue May 27, 2012
  LONDON (Reuters) - Uncertainty in the euro zone will continue for the next few years, acting as a drag on the UK economy, Bank of England policy maker Spencer Dale was quoted as saying in a newspaper on Sunday. […]
• Glencore to lay out Xstrata merger plans May 27, 2012
  LONDON (Reuters) - Glencore will this week move into the final stage of its long-awaited $30 billion takeover of miner Xstrata, as shareholders are sent detailed documents on the deal, kicking off a last charm offensive ahead of July votes. […]
• U.S. data, Europe woes to set tone May 26, 2012
  NEW YORK (Reuters) - Investors will grapple next week with major U.S. economic reports and the looming possibility of a Greek exit from the euro zone, which is likely to keep dragging on equities for weeks to come. […]