March 18 (Reuters) - Headlines
Osborne to admit fresh blow to debt target
Cypriot authorities in revised deal talks
HSBC set to cut thousands more jobs
Transocean set for battle with Icahn Cable to unveil 1 bln stg research investment
Banks must shed 3.4 tn euros from balance sheets
Highbridge raises large mezzanine fund IMF to continue loan talks with Egypt Overview British finance minister George Osborne is expected to admit in Wednesday’s budget that it will take even longer than previously forecast for public sector debt to begin to fall.
Cyprus was in talks with international lenders on Sunday to change the terms of proposed levy on bank deposits demanded as a condition for a bailout.
Thousands of jobs could be cut at HSBC, as Europe’s largest bank prepares to unveil the next stage of its strategic overhaul at an investor day meet in two month’s time.
Offshore drilling contractor Transocean will formally reject a plan from activist investor Carl Icahn that demands the company to pay a higher dividend and appoint three new directors.
The government is set to pledge ahead of Wednesday’s budget, a significant investment into UK’s aerospace industry as part of its long-term strategy to spur growth and keep the industry ahead of international competition. European banks will need to trim as much as another 3.4 trillion euros from their balance sheets over the coming years, according to new data, raising fears about a funding gap opening for European companies.
Highbridge Capital, the hedge fund owned by JPMorgan Asset Management, has closed the books on a new $5 billion ‘mezzanine’ fund, the biggest in six years and the third largest yet. The International Monetary Fund said on Sunday it would continue talks with Egypt on possible financial aid over the coming weeks.