Finance

Soros surrendered his empire: "He deserved it"

George Soros, who made a billion dollars "betting" against the British pound, said earlier that he did not want his foundation to be taken over by any of his five children.
However, he appointed Alexander as director of one of the world's richest philanthropic foundations.
"He deserved it," said Soros, whose fortune is estimated at $6.7 billion.

UBS set to carve up Credit Suisse after takeover day

UBS is set to finalise the takeover of Credit Suisse today, but the hardest part is yet to come: turning the arranged marriage of Switzerland's biggest banks into a success.

On June 5, the two Zurich-based banks announced that the merger should be completed on June 12.

A merger this complex could turn out to be a nightmare, particularly given how little time UBS has had.

Restrictions on retail lending to be eased in July

The Slovenian central bank will relax its restrictions on retail lending in July to make loans more accessible to individuals whose earnings range from minimum to average pay.

The minimum level of creditworthiness, now set at 76% of the gross minimum wage, will be based on the level of essential living expenses, while taking into account certain additional factors.

Athens airport shareholders clear way for 30% stake sale, says source

Athens International Airport shareholders have given the go-ahead for the sale of a 30% stake in the country's biggest airport by privatization agency TAIPED, a senior official from the agency said on Thursday.

The state-owned Hellenic Republic Asset Development Fund has hired Bank of America, Morgan Stanley and Deutsche Bank to act as advisers on the sale of its stake.

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