WASHINGTON - Apple Inc's chief executive officer defended the company's tax record at a Tuesday Senate hearing where lawmakers said the maker of iPads, iPods and Mac computers kept billions of dollars in profits in Irish subsidiaries to avoid U.S. taxes.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
UK's Prudential sees Asian listings on May 11
LONDON (Reuters) - British insurer Prudential Plc (PRU.L) said it plans to list in Hong Kong on May 11, and also announced a secondary listing in Singapore as it prepares to fund its $35.5 billion takeover of Asian rival AIA.
The move to list in Asia is expected to draw local investors to a $21 billion rights issue, launched to fund its acquisition of AIA, American International Group's (AIG) (AIG.N) Asian life insurance unit.
In a statement on Friday, Prudential said the Hong Kong Stock Exchange (HSE) had reviewed its application on April 21 and that trading in its shares was expected to begin on May 11.
It also confirmed plans for a secondary listing in Singapore on the SGX-ST, with trading also expected to begin on May 11.
Prudential said it would publish documents for each of the listings on or around May 5.
(Reporting by Simon Jessop; editing by Paul Hoskins)
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