WRAPUP 1-Australia's central bank holds rates, tempers call for A$ fall SYDNEY, Aug 4- Australia's central bank held interest rates at record lows on Tuesday in a widely expected decision, but surprised markets by toning down calls for a further fall in the local dollar. The currency jumped half a U.S. cent to $0.7348 after the Reserve Bank of Australia dropped a reference to a further decline being necessary, saying only that the...
| By: Wayne Cole
UPDATE 1-AIG profit beats estimates, boosts buyback by $5 bln Aug 3- American International Group Inc, the largest commercial insurer in the United States and Canada, reported a quarterly operating profit that breezed past analysts' estimates, and boosted its share buyback by up to $5 billion. The insurer's results were driven by investments in one of China's biggest insurers and earnings from aircraft leasing company...
Lukoil managers charged for money $1.95 bln laundering BUCHAREST, Romania- Romanian authorities have charged Russian oil producer Lukoil with complicity in money laundering worth 1.77 billion euros. Prosecutors at the Court of Appeal in Ploiesti, where Lukoil's refinery is based, on Monday charged Romanian and Russian company managers for allegedly misusing the company's credit and capital.
Source: The Associated Press
UPDATE 2-Seven years after bailout, Britain starts RBS sell-off with $3 bln stake sale *Britain starts sale of RBS stake at a loss. *UK faces loss on 45 bln stg RBS bailout after profit on Lloyds. LONDON, Aug 3- Britain started the sale of a 2 billion pounds stake in Royal Bank of Scotland on Monday, beginning the disposal of its holding in the bank seven years after a multi-billion pound bailout at the height of the financial crisis.
| By: Steve Slater
UPDATE 1-Seven years after bailout, UK starts RBS sell-off with $3 bln stake sale LONDON, Aug 3- Britain started to return its holding in Royal Bank of Scotland to private investors on Monday, seven years after it bailed out the bank, selling a stake worth 2 billion pounds at a loss. Britain owns 78 percent of RBS after rescuing it with 45.8 billion pounds of taxpayer cash at the height of the financial crisis in 2008. Its stake will reduce to 73.2...
UK starts RBS sell-off with sale of 2 bln stg stake LONDON, Aug 3- Britain said it has started the sale of its stake in Royal Bank of Scotland seven years after it bailed out the bank, taking a loss on the sale of 2 billion pounds of shares to institutional investors. UK Financial Investments, the body that holds the government's RBS shares, said on Monday it would sell about 600 million shares, representing 5.2 percent...
UPDATE 1-Italy's Exor wins battle to buy PartnerRe for $6.9 bln MILAN, Aug 3- Investment group Exor, which controls carmaker Fiat Chrysler, said on Monday it had signed a deal to buy PartnerRe for $6.9 billion, ending a prolonged battle for the reinsurer against a rival bid from Axis Capital. The agreement marks a U-turn for PartnerRe, which in January had agreed a merger with Axis and repeatedly spurned approaches from Exor,...
| By: Agnieszka Flak
Third Point buys stake in Suzuki Motor, sending shares to lifetime high *Highlights potential of dominant India business. TOKYO, Aug 3- U.S. activist investment fund Third Point LLC has placed a bet on Japan's Suzuki Motor Corp potentially worth almost $1 billion citing the automaker's dominance in India, sending its shares to a lifetime high. Third Point, led by Daniel Loeb, on Friday said Suzuki stock was cheap considering...
| By: Minami Funakoshi