Barclays Posts Loss as FX Provision Rises
Barclays raised its provision for potential foreign-exchange
settlements to £1.25 billion, leading it to report a full-year net
loss, but said an effort to shrink and restructure its business is
starting to pay off.
Springleaf Nears $4.25 Billion Deal For Citigroup's OneMain
Subprime lender Springleaf Holdings is said to be nearing a deal
to buy Citigroup Inc.'s OneMain Financial for about $4.25 billion.
The deal is expected to be announced as soon as Tuesday.
Goldman Cuts Investment Banking Staff In Singapore
Goldman Sachs has cut its Singapore investment banking
operations by about a third since the start of the year, leading to
the departure of 10 to 12 bankers.
Portugal's BPI, BCP Lifted by Merger Report
Shares in Portuguese lenders Banco BPI and Banco Comercial
Portugues rose sharply on a report that Isabel dos Santos, Africa's
wealthiest woman and the second-largest shareholder in BPI, will
propose that the two banks discuss a merger.
Orange Says Currently No Plans for Telecom Italia
Orange Chief Executive Stephane Richard sought to play down
speculation that his company would bid for Telecom Italia, saying
that while he still believes such a deal to be attractive, he
currently has no plans to pursue it.
Merck Profit Slips Despite Revenue Gains
German pharmaceutical company Merck said that fourth-quarter net
profit fell slightly but revenue surged on growth in all its
divisions and its acquisition of AZ Electronics.
Glencore Returns to Profit
The mining giant returned to profitability last year despite a
sharp downturn in the commodities it mines and trades.
Luxottica Reports Profit, Looks for Areas of Growth
Italian eyewear company Luxottica said its future growth will be
fueled by a stronger retail network and by increasing sales of
luxury goods in Asia and North America.
France Sells Safran Stake
The French government said it had completed the sale of a 3.96%
stake in aerospace supplier Safran, raising $1.12 billion in the
process.