By Clare Jim HONG KONG (Reuters) -Country Garden has proposed a deal to its offshore creditors that will cut its debt by $11.6 billion, paving the way for the property developer to seek more time from the high court in Hong Kong to implement a restructuring plan. The indebted developer has reached an understanding with…
WASHINGTON (Reuters) – Elon Musk, who U.S. President-elect Donald Trump has tapped to oversee a government cost-cutting effort, acknowledged that his declared goal of cutting $2 trillion in spending from the $6.8 trillion federal budget would be a long shot. “I think if we try for 2 trillion, we’ve got a good shot at getting…
(Reuters) – Entrepreneur and former Los Angeles Dodgers owner Frank McCourt’s Project Liberty and its consortium of partners in The People’s Bid said on Thursday they proposed to make a formal bid to ByteDance to buy TikTok’s U.S. assets. The move comes ahead of a Jan. 19 deadline by which ByteDance has to sell the…
By Milana Vinn and Anirban Sen NEW YORK (Reuters) – Private equity firm Warburg Pincus is weighing options, including a sale, for Modernizing Medicine (ModMed) that could value the medical software provider at more than $5 billion, including debt, according to people familiar with the matter. Boca Raton, Florida-based ModMed is working with a financial…
By Dan Peleschuk KYIV (Reuters) – Membership in NATO is the only credible long-term security guarantee Ukraine can receive against future Russian aggression, Finland’s top diplomat said on Wednesday. Donald Trump’s return to the White House on Jan. 20 has sparked hope of a diplomatic resolution to end Moscow’s invasion but also fears in Kyiv…
By Tom Hals WILMINGTON, Del. (Reuters) – Tesla directors including Chair Robyn Denholm and James Murdoch got court approval on Wednesday for a settlement worth up to $919 million that requires they return compensation to the carmaker to resolve allegations they overpaid themselves. The settlement requires Tesla board members including Denholm and Murdoch to return…
ATHENS (Reuters) – Wall Street bank JP Morgan has filed two lawsuits over its investment in fintech Viva Wallet, the latest twist in a legal dispute between the two sides over how to value the Greek business. A source with knowledge of the matter told Reuters that JP Morgan filed a lawsuit in Greece on…
By John Irish and Lili Bayer PARIS/BRUSSELS (Reuters) -France urged the European Union to use its laws more robustly to defend itself against outside interference and Spain’s prime minister lambasted Elon Musk on Wednesday, as the U.S. tech billionaire steps up his comments about European politics. The European Union is grappling with how to respond…
By Harshita Mary Varghese (Reuters) – U.S. telecom giant AT&T said on Wednesday it would offer bill credits for network outages as part of a new initiative to attract customers, after the industry experienced several significant disruptions in 2024. In February last year, AT&T faced a nationwide wireless service disruption that lasted more than 12…
By David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen said on Wednesday that Nippon Steel’s planned acquisition of U.S. Steel received a “thorough analysis” by an interagency review body that was sent to President Joe Biden, who blocked the deal on national security grounds. Yellen, in a live interview on CNBC, said she could…
