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With Guilty Plea, Takata Clears Way for a Likely Global Rescue

With a $1 billion fine and a criminal guilty plea, Takata, the Japanese auto parts maker, took a major step on Friday toward putting the scandal over its deadly airbags behind it, the International New York Times reported. Next up: a sale of the fina ...

Daily Headline - global.abi.org - 01/16/2017 - 22:58 - 0 comments

Bank Of Cyprus To Banish Bail-In Memories With Juicy Tier 2

transaction is expected to be rated Caa3 by Moody's. Bank of Cyprus is rated Caa2 by Moody's and B- ...

Daily Headline - global.abi.org - 01/12/2017 - 23:08 - 0 comments

China’s Currency Upsets Forecasts By Beginning The New Year Stronger

The omens for the Chinese yuan seemed bad heading into 2017, The Economist reported. The capital account looked as porous as ever, making a mockery of the government’s attempts to fix the leaks. The new year, when residents received fresh allowances ...

Daily Headline - global.abi.org - 01/12/2017 - 23:09 - 0 comments

Samsung Leader Quizzed For Over 22 Hours In South Korea Corruption Scandal

Samsung Group leader Jay Y. Lee left the South Korean special prosecutor's office early on Friday, more than 22 hours after arriving for questioning on bribery suspicions in an influence-peddling scandal that could topple President Park Geun-hye. Le ...

Daily Headline - global.abi.org - 01/12/2017 - 23:10 - 0 comments

Samsung Heir Questioned as Bribery Suspect in South Korean Probe

The third-generation heir of South Korea’s Samsung conglomerate is being questioned Thursday in relation to suspected bribery, prosecutors said, drawing the country’s biggest and most powerful business group deeper into an unfolding political scandal tha ...

Daily Headline - global.abi.org - 01/11/2017 - 22:41 - 0 comments

Edelweiss ARC To File Insolvency Case Against Bharati Defence In NCLT

Edelweiss Asset Reconstruction Co. (ARC) Ltd is planning to file an insolvency case against Bharati Defence and Infrastructure Ltd in the National Company Law Tribunal (NCLT) to pre-empt winding-up petitions by unsecured creditors, said two people famili ...

Daily Headline - global.abi.org - 01/11/2017 - 22:43 - 0 comments

Falcon Bank’s Former Singapore Manager Sent to Prison in 1MDB Probe

A Singapore court Wednesday sentenced a former branch manager of Switzerland’s Falcon Private Bank AG to prison for crimes connected to the alleged multibillion-dollar misappropriation at Malaysian state investment fund 1MDB, The Wall Street Journal ...

Daily Headline - global.abi.org - 01/11/2017 - 22:44 - 0 comments

China Probes Bitcoin Exchanges Amid Capital Flight Fears

Chinese regulators have taken steps to ensure bitcoin is not used to facilitate capital flight, even as investors in the cryptocurrency say they doubt it is being used to transfer large amounts of cash out of China, the Financial Times reported. The ...

Daily Headline - global.abi.org - 01/10/2017 - 23:24 - 0 comments

Turkish Central Bank Fails to Stop Currency’s Slide

The Turkish central bank failed to stop the lira’s free fall with its limited step to boost liquidity in financial markets, amid political pressure to keep interest rates low, The Wall Street Journal reported. The Turkish currency tumbled as much as ...

Daily Headline - global.abi.org - 01/10/2017 - 23:25 - 0 comments

Hong Kong Court Hears Moody's Appeal Over 'Red Flags' Report

Hong Kong's Court of Appeal on Wednesday began hearing Moody's appeal against a tribunal decision that partly upheld regulatory action imposed on it for a report on Chinese firms, in what is considered a landmark case for the financial centre. ...

Daily Headline - global.abi.org - 01/10/2017 - 23:26 - 0 comments

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