South Korea’s second-largest carrier will put up for sale a one-third stake owned by its ruling family as part of a turnaround plan. There is a broader effort to revamp the country’s family-controlled conglomerates.
Following JPMorgan’s across the board beat, and Wells Fargo’s latest disappointing results, moments ago Goldman reported a mixed set of numbers, with the company solidly beating on earnings, as EPS came in at $5.71, above the $4.89 expected, even as revenues disappointed, printing at $8.81BN, below the $8.99BN consensus exp., and down 13% from a year ago.
Bank of Canada Governor Stephen Poloz indicated he’s all but abandoned any bias for higher interest rates, saying officials are simply focused on keeping policy aligned with current economic conditions.
A good indication of how the economy is doing comes later Monday, when the central bank releases the spring edition of its Business Outlook Survey and Senior Loan Officer Survey, the institution’s last major publications before the April 24 rate announcement and quarterly Monetary Policy Report.
The IMF’s bailout package to Pakistan could be delayed as both sides are still engaged in an intense conversation to finalise the agreement and the international lending body is seeking details of the CPEC project and a written guarantee from Islamabad that its assistance will not be used to repay loans to China.
In July, China also deposited USD 2 billion with the State Bank of Pakistan.
The finance minister is likely to visit China on April 25 for talks on the IMF concerns over CPEC and IMF will wait to hear from him before it finalises the bailout package, the daily reported.
Waste Management is buying competitor Advanced Disposal Services for around $2.9 billion, the biggest acquisition in its history and a deal that would bring together the No. 1 and No. 4 companies in the sector.