TOKYO - Asian shares scaled seven-year highs following stellar earnings from a few U.S. hi-tech giants, but investors were cautious ahead of central bank meetings this week in the U.S. and Japan and on apparent deadlock in Greece's talks with creditors.
Recent Business News
HELSINKI - Finland's Nokia denied reports in Chinese media that it planned to return to manufacturing phones.
BERLIN/FRANKFURT - Ferdinand Piech, who resigned as chairman of Volkswagen over the weekend, sowed the seeds of his own demise by reneging on a deal to support CEO Martin Winterkorn and secretly plotting to oust him instead, according to sources close to the VW board.
- HSBC , Europe's biggest bank, is weighing plans to spin off its British retail bank in a 20 billion-pound ($30.37 billion) deal, the Sunday Times reported.
- Britain's outgoing government has told BP Plc that it wants the company to remain a British industrial champion and it would oppose any takeover of the oil producer, the Financial Times reported.
SHANGHAI/HONG KONG - Bankers at China's top state lenders are quitting in increasing numbers because of cuts to their pay and perks, and moving to a new breed of financial firms such as leasing companies, trusts and online platforms, bankers and headhunters say.