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Added on the 22/05/2015 18:02:48 - Copyright : Reuters EN
Shanghai, Sep 29 (EFE/EPA).- Chinese real estate giant Evergrande on Wednesday announced it would sell a 19.93 percent stake in commercial Shengjing Bank to a state-owned conglomerate for 9.99 billion yuan ($1.55 billion).After the transaction, its stake in Shengjing Bank will drop from 34.5 percent to 14.57 percent, Evergrande said in a statement sent to the Hong Kong Stock Exchange.Evergrande will transfer 1.75 billion non-publicly traded domestic shares to the buyer at a unit price of 5.7 yuan. (Camera: ARCHIVE). ARCHIVE FOOTAGE OF THE EVERGRANDE CENTER IN SHANGHAI, CHINA.
ABN Amro returns to the Amsterdam stock exchange with a 17 billion euro IPO welcomed as a milestone on the bank's road to recovery. But, as Hayley Platt reports, the process of rehabilitating the UK banking sector is very much ongoing.
Shares have fallen nearly 10 percent at French bank Credit Agricole and Britain has sold a 2.1 billion pound ($3.3 billion) stake in Royal Bank of Scotland, to kick off the disposal of its holding seven years after bailing out the bank. Hayley Platt reports
Five of the world's largest banks have been fined a collective $5.7 billion, after four of them agreed to plead guilty to U.S. criminal charges over manipulation of foreign exchange rates. But as Ivor Bennet reports, the fines may not be the problem.
French authorities have charged HSBC over allegations relating to past tax dealings, while Deutsche Bank is set to face the music over Libor manipulation. Ciara Lee asks how damaging these scandals are for the banks and their reputations.
The first official budget figures since Britain voted to leave the EU show a smaller-than-expected budget surplus. As post-referendum data continues to trickle in, attention is turning to what sort of access Britain will seek with its main trading partners in the EU. Kirsty Basset reports.
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