Business


Italy's largest bank sells unit to bolster capital buffers

The price is much higher than the second-highest bid offered by Poste Italiane and Anima, which shows how strategic the acquisition is for Amundi. "UniCredit raises some money and Amundi boosts its market presence", said Ion-Marc Valahu, fund manager at Clairinvest on Monday.



Fox to bid for Sky this week via scheme of arrangement

Britain's main opposition Labour Party will ask an urgent question in parliament on Monday about the proposed bid by Rupert Murdoch's Twenty-First Century Fox (FOXA.O) for pay-TV company Sky (SKYB.L), the parliamentary website said. Hancock said the decision has to be taken in the context of the "world as we find it". Although the directors at Sky have approved the deal and are willing to recommend it to stakeholders - it is not a done deal.



Analysts Recommendations: The Coca-Cola Company (NYSE:KO)

The Coca-Cola Company (NYSE:KO) traded 28.11 Million shares and was closed at $42.00 per share. Capital Insight Partners LLC raised its position in shares of Coca-Cola by 1.6% in the second quarter. During the same period a year ago, the company earned $0.51 earnings per share. Coca-Cola had a return on equity of 32.47% and a net margin of 16.99%.



Prudential stops distribution of policy sold through Wells Fargo

Earlier on Monday, Prudential Financial said it had suspended the distribution of a low-priced life insurance policy through Wells Fargo, pending a review of how the product was sold by the bank. Visit MarketWatch.com for more information on this news. Prudential Financial Inc.is facing a class action lawsuit in the latest action linking the insurer to Wells Fargo & Co.'s high-profile consumer fraud scandal.



Australian government approves construction of second airport in Sydney

The project was stuck in political internal strife for 70 years over the world heritage site Badgerys Creek; however, now that it has received the green light, it is set for completion in the mid-2020s, with a single runway and facilities for about 10 million passengers a year .



Report of regulatory action against us false: Axis Bank

Last week the Enforcement Directorate, a government agency that fights financial crime, said it had arrested two Axis bank employees for allegedly helping launderers to buy gold with the help of scrapped notes. We firmly believe the said news is meant to spread panic amongst the general public, demoralise the staff and damage the reputation of the bank, the bank added.