SAS secures $700 million financing to aid restructuring

SAS secures 0 million financing to aid restructuring

Aug 13 (Reuters) – Scandinavian airline SAS (SAS.ST) said on Saturday it entered into an agreement with Apollo Global Management (APO.N) to raise $700 million of fresh financing it needs to see it through bankruptcy. The airline filed for bankruptcy protection in the United States in early July to help cut debt after the collapse … Read more

Former Deutsche Bank co-CEO Anshu Jain dies

Aug 13 (Reuters) – Anshu Jain, a top finance executive best known for helping German lender Deutsche Bank AG (DBKGn.DE) take on the largest Wall Street firms, died overnight on Saturday after a five-year battle with cancer, his family said. He was 59. Jain, who was born in India, spent two decades building Deutsche Bank … Read more

Labcorp to spin off clinical-development business

July 28 (Reuters) – Laboratory Corp of America Holdings (LH.N) said on Thursday it would spin off its wholly owned business focused on clinical drug trials, sending its shares up nearly 4%. The planned spin-off will result in two independent, publicly traded companies – Labcorp and the clinical development business, the company said. The clinical-development … Read more

UniCredit Italy private banking head exits as business reorganized

MILAN, July 25 (Reuters) – UniCredit (CRDI.MI) is further overhauling its structure under CEO Andrea Orcel, an internal memo showed on Monday, in changes that include the departure of Stefano Vecchi, head of the group’s Italian private banking and wealth management unit. Since taking the reins at UniCredit in April 2021, Orcel has been reorganizing … Read more

Analysis: ‘Big Bang 2.0’ up in smoke as Britain’s finance law reforms underwhelm industry

Law empowers regulators to design divergent rules in future Some key changes echo moves already taken by European Union Crisis-era bank taxes, capital demands left unchanged LONDON, July 20 (Reuters) – Britain’s reform of post -Brexit financial services is more about catching up with rivals than unleashing a ‘Big Bang 2.0’ as it sidesteps calls … Read more