<p>The UK government’s power to keep local authority pension investments in line with national foreign and defence policy has been quashed.</p> <p>A High Court judge ruled last week that the guidance, announced only last year, had been used unlawfully.</p>
Chinese defence conglomerate China North Industries Group Corp (Norinco) has signed a framework agreement with state-run oil company Saudi Aramco to build a refinery and chemicals complex in northeast China, industry and government officials said on Tuesday.
One Of Europe's Most Influential Business People Confirms Brexit Has Killed Appetite To Invest In London
One of Europe's most influential industrialists questioned London's future as a financial centre in the wake of Brexit and said the UK is no longer "first on the list" for new investments here. Swedish investor Jacob Wallenberg has a family foundation that holds massive stakes in companies such as pharmaceutical giant AstraZeneca and reformed automaker and now defence group Saab. The stakes generate around $130 billion (£102.9 billion) in revenue.
Chancellor Angela Merkel’s Cabinet supports hikes in spending on defence and infrastructure in a budget plan that seeks to address global risks and refugee crisis
Reliance Infrastructure Ltd on Thursday said it has agreed to sell its cement assets to Birla Corp. Ltd for Rs.4,800 crore ($710 million).
University student Spencer Singleton is among a growing band of amateurs turning to computer-driven automated stock trading – until now the preserve of hedge funds and mega brokers – and says he’s beating the market. Texas-based Singleton won a contest last July run by an algorithmic investing website to write trading programmes. The site, Quantopian, gave him $100,000 to put his model into action for six months and told him to keep any profits.
Dealers Hear Whispers That Recruitment Firm Hays' Days Of Independence Could Be Numbered As Company In Takeover Frame Again
<p style="line-height: 18.9091px;">Recruitment firm Hays was the name in the takeover frame, and not for the first time. It has for years been considered a prime bid target and as its shares rose 4.2p to 117.6p on above average turnover, dealers heard whispers yet again that its days of independence could be numbered. Ubiquitous Swiss human resources group Adecco is rumoured to be lining up a £2.1bn or 150p a share cash bid for the company but cash-rich private equity players are also said to be sniffing around.</p>
The Government was today accused of 'sitting on its hands' as Britain's steel industry entered a 'death spiral' after another 1,000 jobs were axed.
<p style="line-height: 20.8px;">Reliance Infrastructure is in advanced stage of negotiations to sell its cement business in an about Rs 5,000-crore deal and M P Birla Group firm Birla Corporation is one of top three potential buyers. Besides Birla Corp, private equity firms Blackstone and Baring are the other top contenders, people in know of the development said.</p>
<p>A Chinese group has made a bid worth roughly 1 billion euros ($1.1 billion) to buy the private equity-owned German plastics processing machinery maker KraussMaffei, people familiar with the matter said. The potential buyer is hoping to clinch a deal with KraussMaffei’s owner, Canada’s Onex Corp, before the Chinese New Year in early February, the people said on Thursday.</p>