Deal Financial News

Orora will pay $2.16 billion to acquire French glass bottles maker Saverglass from US private equity giant The Carlyle Group as it tilts its business further towards the premium spirits and wine segment.

The Bank of China and the e-commerce heavy-hitter Meituan have signed a digital yuan collaboration deal, with both firms looking to step up their CBDC capabilities.

NEW DELHI : JSW Group may announce the purchase of a stake in MG Motor India as early as two months if the negotiations progress successfully, and the first JSW electric car could roll out from a factory as early as next year, two people familiar with the development said. The deal, which is likely to value MG Motor India at $1.2-1.5 billion, involves the initial purchase of a minority stake by JSW Group, with a firm plan to secure a majority stake in the automaker over time.

Russian President Vladimir Putin says that a landmark deal allowing Ukraine to export grain safely through the Black Sea amid the war won’t be restored until the West meets Moscow’s demands on its own agricultural exports

Russia's Vladimir Putin says there will be no new deal on shipping grain through Black Sea until West meets his demands

Turkish President Recep Tayyip Erdogan has meet with Vladimir Putin in a bid to persuade the Russian leader to rejoin the Black Sea grain deal that Moscow broke off from in July

Vladimir Putin said Monday that the grain deal that allowed Ukraine to export grain safely through the Black Sea won't be restored until the West meets its obligations to facilitate Russian agricultural exports. Putin made the statement after talks with Turkish President Recep Tayyip Erdogan, who along with the U.N. brokered the deal seen as vital for global food supplies, especially in Africa, the Middle East and Asia.

MOSCOW (Reuters) -President Vladimir Putin told Turkey's Tayyip Erdogan on Monday that Russia was open to discussions about the Black Sea (NYSE:SE) grain deal, an agreement that helped get Ukraine's grain to market and thus ease a global food crisis.

Judo Bank is preparing to tap the securitisation markets for the first time with a $350 million to $500 million deal as it looks to diversify its traditional funding mix of deposits and bank warehouses.

real estate player sought approval from its creditors to extend the maturity on a 3.9 billion yuan ($540 million) onshore private bond in a vote that ended on Friday night. The extension means the developer can repay the debt in instalments over three years, instead of meeting its obligations by Saturday. The bond is not publicly traded," the Reuters reports added.

Australian lithium aspirant Liontown Resources has signalled it will accept an improved $6.6 billion takeover bid from US giant Albemarle if it follows through with a binding offer at that price.

Modi has said while seeking global cooperation to deal with cybercrimes. In an exclusive interview with PTI, he said the World Bank has estimated that cyber attacks could have caused losses of around USD 5.2 trillion to the world during 2019-2023, but their impact goes beyond just financial aspects into activities that are deeply worrying.Read the full interview here He said these can have social and geopolitical implications. «Cyber terrorism, online radicalisation, use of networked platforms to move funds from money laundering to drugs and terrorism — are just the tip of the iceberg,» he said. Modi said cyberspace has introduced an entirely new dimension to the battle against illicit financial activities and terrorism. «Terrorist organisations are using technology for radicalisation, moving money from money laundering and drugs into terror funding, and capitalising on emerging digital avenues such as the dark net, metaverse, and cryptocurrency platforms to fulfil their nefarious aims,» he said. Stressing the need for taking the cyber threats very seriously, the prime minister said one angle of their adverse impact is the financial losses they cause. Further, he said, cyber attacks can also have implications for the social fabric of nations. Modi said the spread of 'deep fakes' can cause chaos and loss of credibility of news sources.

Origin Energy’s partly owned Octopus business in the United Kingdom will add two million customers after striking a deal to buy Shell’s energy retailing business in the UK and Germany.

Vladimir Putin will host his Turkish counterpart Recep Tayyip Erdogan on Monday, the Kremlin said, amid hopes the two can restore a deal ensuring safe passage for grain shipments. Russia pulled out from the UN-backed grain agreement that Turkey helped broker in July, effectively revoking safe navigation for civilian ships sailing through the Black Sea. «Negotiations will indeed take place in Sochi on Monday,» Kremlin spokesman Dmitry Peskov told reporters on Friday. Moscow's announcement came shortly after Ukraine said two more ships were sailing through a temporary corridor Kyiv had set up to ensure safe navigation. «Two vessels are sailing through a temporary corridor from Ukraine's Black Sea ports to the Bosphorus,» Infrastructure Minister Oleksandr Kubrakov said on social media.

It is hard to find a good deal on a German car these days. Most German car stocks, on the other hand, are selling for cents on the dollar. There are solid reasons for the discrepancy: weakening consumer sentiment, trouble in China, and the ever-mounting cost of catching up with Tesla in electric vehicles.

On Friday, the Competition Commission granted its approval for the proposed merger between Air India and Vistara, subject to specific conditions. This development represents a significant stride for the Tata Group as it solidifies its position in the aviation industry.

Grocery workers on strike from more than two dozen Metro Inc. supermarkets in the Toronto area have accepted a tentative agreement that ends a month-long labour dispute that shut down stores and temporarily blocked deliveries of meat and produce around the province.

Santos has finally firmed up the sale of a minority interest in its Papua New Guinea LNG venture to PNG’s national oil company, but the deal only involves just over half of the 5 per cent agreed in the original $US1.4 billion ($2.2 billion) deal announced 12 months ago.

Credit Suisse into its books. But the gargantuan gain comes with an equally large challenge to meld the banking giants. On Thursday, UBS provided a clearer picture of its future form, saying it would keep Credit Suisse’s large domestic arm in Switzerland rather than spin it off.

California judge is poised to decide if an online lender offering small loans at over 150% interest violates state law, which would deal a blow to finance companies that critics argue have skirted rate caps to profit from cash-strapped borrowers. The California Department of Financial Protection and Innovation (DFPI) is seeking a ruling that would block Chicago-based Opportunity Financial (OppFi) from offering loans with an interest rate above California's maximum of 36%. Los Angeles Superior Court Judge Timothy Dillon is expected to rule any day. Legal experts say that if California wins, it could embolden other states to take action against lenders that make high-interest loans to low-income borrowers using what critics call «rent a bank» partnerships. Critics say the partnerships allow some fintech lenders, which offer quick loans online, to get around the interest-rate caps most states impose on nonbanks by partnering with banks in states like Utah, where there is no interest rate cap. The lenders themselves say the partnerships help smaller state banks compete and fill a void for borrowers with low credit scores who need emergency cash for unexpected expenses like car repairs and medical care. According to a 2022 survey by the Federal Reserve, 37% of adults in the U.S.

Max Financial Services on Thursday issued a clarification on share sale transactions involving Axis Bank and Max Life Insurance Company Limited (‘Max Life’). The company dismissed reports of violation of norms in the Axis-Max Life deal, as reported by CNBC TV18 on August 31, 2023. «In this regard, we would like to state that following the orders passed by IRDAI wrt transactions involving shares of Max Life between the Company and Axis Bank Limited, SEBI had sought various details/clarifications from the Company,» the company said. It further added, «The requisite details have been submitted by the Company to SEBI for its consideration. The Company has not heard anything from SEBI in this regard.» The company also stated that it had taken appropriate approvals from its shareholders in 2020 (with 99.99% affirmative voting from the shareholders) for cementing the long-term strategic partnership with Axis Bank in respect of its life insurance subsidiary, viz., Max Life which included certain transfer of shares of Max Life.