Bizness Lounge

Wednesday, 1 July 2015

Karrueche Tran-Rihanna Feud: Model Says Rihanna Can Have Chris Brown And ‘The Headaches That Come With It’

Karrueche Tran and Rihanna are reportedly feuding over their former boyfriend Chris Brown. Getty Images/Christopher Polk

Karrueche Tran does not care if Rihanna wants to get back with Chris Brown, a source told Hollywood Life, a day after reports of a possible reconciliation between the two singers surfaced.
Rihanna, 27, supposedly didn’t think Tran was a good match for the “Loyal” singer and was happy that the two split up. Tran broke up with Brown in March after she discovered he had a child with Nia Guzman. Amid Brown's issues with Tran, he and Rihanna are reportedly getting over their own past troubles. The “Four Five Seconds” singer defended Brown by calling his recent ex-girlfriend Tran “tacky and childish” for slamming him on social media.
“Karrueche doesn’t know why Rihanna is now trying to fight with her. Maybe she’s mad because Karrueche took Chris from her and she was the

Indigo Airlines' ground staff stand next to an aircraft after it arrived at the Srinagar airport on Nov. 21, 2014. Reuters/Adnan Abidi

The owner of India's biggest airline, budget carrier IndiGo, is seeking to raise more than $400 million in an initial public offering to fund expansion into one of the world's fastest growing and most competitive domestic air travel markets.
The listing, planned for the local stock exchanges, would value InterGlobe Aviation at around $4 billion, bankers said, and would be the biggest IPO in India since Bharti Infratel Ltd listed in December 2012.
According to a draft prospectus filed on Tuesday, InterGlobe Aviation said it would sell new shares worth up to 12.7 billion rupees ($200 million) and another 30.15 million existing shares.
The company did not give a price for the existing shares, but bankers said they are expected to raise the total value of the deal to at least $400 million.
"IndiGo are continuing with their growth plans while others have been cutting their operations. They had to come to the market because they

Protesters wave and dance under a huge EU flag during a pro-Euro rally in front of the parliament building, in Athens, Greece on June 30, 2015. Reuters/Yannis Behrakis

Eurozone stocks and peripheral bonds rallied on Wednesday, extending gains after a report that Greece was ready to accept most conditions from its international creditors in order to reach a deal over its debt crisis.
Greek Prime Minister Alexis Tsipras was prepared to accept creditors' demands for a bailout with only a few minor changes, the Financial Times said.
The FTSEurofirst 300 extended gains, up 1.5 pct, with the euro zone blue-chip Euro STOXX up 2.1 percent.
The euro trimmed losses against the dollar to trade at $1.11535, flat on the day, while against the British pound it turned higher to trade 0.4 percent higher on the day.
German 10-year yields rose 4.3 basis points to a day's high of 0.82 percent while Spanish, Italian and Portuguese equivalents fell 6-8 bps to 2.22 percent, 2.25 percent and 2.90 percent, respectively.

Interactive Data Corp taps banks for sale or IPO: sources

By Liana B. Baker and Greg Roumeliotis

Interactive Data Corp, one of the world's largest financial data providers, has hired banks for a potential sale or an initial public offering that could value it at more than $5 billion, including debt, people familiar with the matter said on Tuesday.IDC's owners, private equity firms Silver Lake Group LLC and Warburg Pincus LLC, have asked Credit Suisse Group AG (CSGN.VX) and Goldman Sachs Group Inc (GS.N) to run an auction for the company, the people said.
Silver Lake and Warburg Pincus are also working with banks that include Morgan Stanley (MS.N) and Barclays Plc (BARC.L) on an IPO that would take place if the auction attracted offers that did not meet expectations, the people added.
The sources asked not to be identified because the

China and Japan show hints of healing, rest of Asia still struggling

SYDNEY | By Ian Chua

Growth in China's services sector picked up in June while big Japanese companies planned to ramp up spending at the fastest pace in a decade, offering hope that prospects are improving for Asia's largest economies despite sluggish factory growth.Wednesday's data fueled expectations that the wobbly global economy may start leveling out in the second half of the year, but the outlook remains murky, with fears that Greece's debt crisis could splinter the euro zone and worries about whether China can avoid a stock market crash keeping investors on edge.
Activity in China's factory sector expanded slightly in June though not as much as expected, official surveys showed, suggesting the economy may be

JPMorgan builds up apartment-loan leader from WaMu rubble

NEW YORK | By David Henry

In September 2008, JPMorgan Chase & Co executives sifted through the rubble of Washington Mutual, the failed home loan bank that they had just won in a U.S. government auction.They found something unexpectedly good: about $30 billion of mortgages on apartment buildings, which earned strong returns whether the economy was performing well or not.
"It was an unexpected bonus," JPMorgan Chief Executive Jamie Dimon told Reuters in an interview, adding that the apartment lending business is the single most valuable asset that JPMorgan acquired in the auction.
Washington Mutual's apartment lending business was the biggest of its kind in the United States and Dimon has made it even bigger. JPMorgan now holds some 20 percent of the U.S. bank loans on apartment buildings.
Before the crisis, the bank ranked closer to 20th. JPMorgan now has $52 billion of these loans outstanding, giving it a stronghold in a market that is

China June factory, services surveys fuel hopes economy leveling out

BEIJING | By Kevin Yao

Activity in China's factory sector expanded slightly in June though not as much as expected, while growth in the services sector sped up, official surveys showed, offering some signs that the world's second-largest economy may be starting to slowly level out after a raft of support measures.Beijing has rolled out a flurry of steps since last year, including interest rate cuts and more infrastructure spending, but analysts remain wary about the outlook given the still-weak property market, erratic global demand for China's exports and fears of a collapse in its wild stock market.
The government is due to release second-quarter gross domestic product data on July 15 and many economists expect growth to dip below 7 percent, which would be the weakest performance since the global financial crisis.
"In general, the softness in the manufacturing sector remains, requiring more policy recalibration", Liu Li-Gang and Zhou Hao at ANZ said in a research note.
"Looking ahead, as real interest rates faced by

Insurer ACE to buy Chubb for $28.3 billion

Insurer ACE Ltd (ACE.N) said it would buy property and casualty insurer Chubb Corp (CB.N) for $28.3 billion in cash and stock. Chubb shareholders will receive $62.93 in cash and 0.6019 shares of ACE stock for each share held.
Based on the closing price of ACE shares on June 30, the deal is valued at about $124.13 per Chubb share, a premium of 30 percent to the stock's Tuesday close.
(Reporting by Richa Naidu and Avik Das in Bengaluru; Editing by Kirti Pandey)

U.S., Cuba restoring diplomatic ties after 54 years

HAVANA/WASHINGTON | By Daniel Trotta and Lesley Wroughton

The United States and Cuba are set to announce the restoration of diplomatic relations on Wednesday, the result of a two-year courtship between former Cold War rivals who severed ties in 1961.The chief of the U.S. interests section in Havana will report to Cuban foreign ministry around 9 a.m. (0900 ET) to deliver a letter from U.S. President Barack Obama to Cuban President Raul Castro.
Obama will then speak at 11 a.m. (1100 ET) from the White House's ceremonial Rose Garden. It was unknown whether Castro would reciprocate with comments of his own.
Following 18 months of secret negotiations brokered by Pope Francis and Canada, the two leaders announced separately but simultaneously last December that they planned to reopen embassies in each other's capitals and normalize relations.
U.S. Secretary of State John Kerry is expected at a flag-raising ceremony in Havana later this month, when the so-called U.S. interests section will become a full embassy. Cuba's mission in Washington will undergo a similar upgrade.
The deal last December also included a prisoner swap and sought to relegate to history 56 years of recriminations that have predominated ever since Fidel Castro's rebels overthrew the U.S.-backed government of Fulgencio Batista on Jan. 1, 1959.
Two years later, U.S. President Dwight Eisenhower closed the U.S. embassy in Havana on Jan. 3, 1961, less than three weeks before President-elect John F. Kennedy was due to take office.
By April of that year, Kennedy would

Global shares rise as investors hold nerve after Greek default

LONDON | By Marc Jones

A trader sits in front of the computer screens at his desk at the Frankfurt stock exchange, Germany, June 29, 2015.

Reuters/Ralph Orlowski

European shares and peripheral euro zone bonds rose on Wednesday and the euro held its own as some investors kept faith with expectations that, despite defaulting on an IMF loan, Greece will find a way to stay inside the currency zone.While an unwelcome milestone for Athens, the default came as no surprise to markets after weeks of debt-talk brinkmanship, and news that the bloc's finance ministers were to hold another teleconference later, show the drama is far from over.
Stocks in London, Paris and Frankfurt as well as Italy, Spain and Portugal opened 0.6 percent to 0.9 percent higher, while the euro hovered just above $1.1110 versus the dollar.
There was plenty of uncertainty though. The failure to reach a deal kept Greece on course for a referendum at the weekend on whether to accept the euro zone/IMF demands for more swingeing spending cuts.
Arguably the biggest focus of the day was