Kyobo Life: Won't Bid for Korean Government's 57% Stake in Woori Finance
Kyobo Life Insurance, South Korea's second largest life insurer based on premiums written, said Friday that it won't bid for the government's 57% stake in Woori Finance Holdings (053000.SE) as it doesn't expect the potential KRW4.91 trillion ($4.3 billion) deal to take place.
HSBC to Sell Stake in Payment-Processing JV for US$242 Million
A unit of HSBC Holdings PLC (HBC) has agreed to sell its entire stake in a payment-processing company to its joint venture partner Global Payments Inc. for US$242 million, the global banking giant said Friday, as part of its effort to shift away from non-core businesses.
Hong Kong Stocks Lead Regional Rally Early
Hong Kong stocks followed their Asian and U.S. peers higher, staging an across-the-board rally after European Central Bank President Mario Draghi promised to do whatever needed to protect the euro.
UBS Estimates Macquarie Paid $1 Billion in Bonuses Last Fiscal Year
Macquarie Group Ltd. (MQG.AU) paid out 1 billion Australian dollars (US$1.04 billion) in bonuses last fiscal year despite profits at the investment bank slumping to an eight-year low of A$730 million, according to figures from UBS.
Aviva Says to Exit Taiwan Insurance Market
U.K. insurer Aviva PLC (AV) said Friday it plans to offload its 49% stake in an insurance joint-venture with First Financial Holding Co. (2892.TW), marking the latest exit of foreign insurers from the saturated Taiwanese insurance market.
Correction to Macquarie Bonuses Story
"Macquarie Paid A$1B Of Bonuses In 2012, Mainly To Loss-Making Divisions -UBS," published at 0113 GMT, misstated the year in the headline.
Singapore 2Q Private-Home Prices +0.4% on Quarter Vs -0.1% in 1Q
Prices of private homes in Singapore rose 0.4% in the second quarter from the first quarter, when they fell 0.1%, according to the government's final estimate released Friday.
Kia Motors 1st Half Net Profit Up 10% On Strong Sales
Kia Motors Corp. (000270.SE) Friday posted a 10% rise in first-half net profit as strong overseas sales and a weaker won gave a boost to its bottom line.
SK Innovation Swings to 2Q Net Loss on Lower Oil Prices
SK Innovation Co. (096770.SE) said Friday it swung to a consolidated second-quarter net loss due to a drop in global oil prices and weakness in the global economy.
Macquarie Paid A$1 Billion Of Bonuses In 2012, Mainly To Loss-Making Divisions -UBS
Macquarie Group Ltd. (MQG.AU) paid out a 1 billion Australian dollars (US$1.04 billion) in bonuses last year despite profits at the investment bank slumping to an eight-year low of A$730 million, according to figures from UBS.