Fitch: Thai Default Highlights Risks to Banks, But They Remain Resilient

[Buzz_Burner_Fresh_Updates] Fitch: Thai Default Highlights Risks to Banks, But They Remain Resilient – reuters.com (The following statement was released by the rating agency) BANGKOK, October 12 (Fitch) The largest Thai corporate default since the aftermath of the 1997 financial crisis will lead to more non-performing loans (NPLs) in the Thai banking system and reflects risks […]

Toshiba to report first quarter operating loss of over 10 billion yen: Nikkei

[Buzz_Burner_Fresh_Updates] Toshiba to report first quarter operating loss of over 10 billion yen: Nikkei – reuters.com TOKYO (Reuters) – Toshiba Corp is set to report an operating loss of more than 10 billion yen ($83 million) in the April-June quarter hurt by weakness in the consumer electronics business, the Nikkei business daily reported. Continue Reading […]

United Tech reorganizes operations, names presidents for units

[Buzz_Burner_Fresh_Updates] United Tech reorganizes operations, names presidents for units – reuters.com (Reuters) – United Technologies Corp said it is reorganizing its business by operating its Otis elevator and climate, controls and security divisions as stand-alone units. Continue Reading On reuters.com »  

Citi sells Hungary consumer banking business to Erste Group

[Buzz_Burner_Fresh_Updates] Citi sells Hungary consumer banking business to Erste Group – reuters.com (Reuters) – Citigroup Inc agreed to sell its consumer banking business in Hungary to Austria’s Erste Group Bank AG as the third-biggest U.S. bank by assets continues to divest non-core operating businesses. Continue Reading On reuters.com »