Tag Archives: cash

LeEco Chairman Says Cash Crunch ‘Far Worse Than Expected’

LeEco’s cash problems are “far worse than expected” and the funds raised in recent months are unexpectedly not enough to help the Chinese technology conglomerate ride out the crunch, its chairman, Jia Yueting, said on Wednesday. LeEco, one of China’s most ambitious companies that grew from a Netflix-like video website to a business empire spanning consumer electronics to cars… Read More »

RBS investor settlement over 2008 cash call back on track

Rebel RBS shareholders, who had been determined to bring the bank and former CEO Fred Goodwin to court over losses related to a 2008 rights issue, are set to agree to a settlement and the case is likely to be dropped, sources said on Tuesday. Representatives of the RBoS Shareholder Action Group had written to their members last… Read More »

RBS investor group accepts offer to end lawsuit over 2008 cash call

A group representing Royal Bank of Scotland (RBS.L) investors has accepted an out-of-court deal to settle a lawsuit that aimed to call disgraced former CEO Fred Goodwin to account over a 12 billion pound cash call in 2008. Organisers of the RBoS Shareholder Action Group, that had vowed to see the bank and its former bosses in court,… Read More »

Allianz plays down talk of big deals as hands cash to investors

Allianz (ALVG.DE) played down talk of it making a major acquisition any time soon as its chief executive Oliver Baete said on Friday the German insurer could grow without deals. The Munich-based group said it would return up to 3 billion euros (£3 billion) to shareholders, but made clear this did not exclude the possibility of it being… Read More »

Venezuela postpones bank note ban after chaos and cash shortages

Sudden pulling of 100-bolivar note from circulation leads to vast lines at banks, looting, protests and at least one death Venezuelan president Nicolas Maduro on Saturday suspended the elimination of the country’s largest denomination bill, which had sparked cash shortages and nationwide unrest, saying the measure would be postponed until early January. The surprise pulling of the 100-bolivar… Read More »

Monte dei Paschi races to raise €5bn cash by end of year

Italy’s Monte dei Paschi bank has said it will try to raise €5bn (£4bn; $5.3bn) from investors by year end as it races to avoid a state rescue. In a statement, the world’s oldest bank said it would stick to the recovery plan it outlined on 25 October, which includes issuing new shares. The bank had sought a… Read More »

Donald Trump would ‘cut off cash to Mexico’ to pay for border wall

Republican White House hopeful Donald Trump has said he would stop cash sent home by Mexicans based in the US, until the country pays for a border wall. The prospect of losing a vital source of income would force Mexico into a “one-time payment” of $5-10bn (£3.5-7bn), says Mr Trump. But US President Barack Obama said the plan… Read More »