On a spring afternoon, Xavier Niel enters the boardroom of Iliad SA, the Paris-based telecommunications firm he founded two decades ago. He’s wearing a white dress shirt and jeans, the same outfit he’s sported with Steve Jobs–like regularity for years. With his longish hair and rumpled attire, he looks more like a hacker who’s blundered into the wrong office than a man who’s worth $10.5 billion.
The Chinese government’s push to clean up local government financing may double the balance of non-performing loans at the nation’s banks, the 21st Century Business Herald reported today, citing an unidentified commercial bank official.
RBC Capital Markets , the top arranger of Canadian government-bond issues for seven years, saw its market share fall to its lowest level since 2007 as National Bank Financial gained on higher sales outside Quebec.
The pile of late payments to vendors facing the Illinois government shrank to $4.8 billion in February, down $2.5 billion from a year earlier, according to a report from the state Comptroller’s office.