Kevin Russell News
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Citigroup Inc., the third-biggest U.S. bank, named Daniel Keegan to assume responsibility for equities businesses in the Americas from Rick Bartlett, who’s on an extended medical leave.
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Singapore Telecommunications Ltd., Southeast Asia’s biggest phone company, said third-quarter profit fell 8.3 percent on charges from its Australian and Philippine businesses and currency moves.
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Pay and bonus levels at state- controlled Royal Bank of Scotland Group Plc will reflect performance, Prime Minister David Cameron’s spokesman said.
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Britain’s sale of mobile-phone frequencies, potentially raising 2.6 billion pounds ($4.3 billion), may force Hutchison Whampoa Ltd. to pay a “survival premium” as competition among the four operators intensifies.
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Newedge USA LLC, the broker with the most U.S. segregated customer funds, will pay $700,000 to resolve regulatory claims that the firm submitted flawed trader reports and violated an earlier order to improve accuracy.
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Telefonica SA’s O2 mobile-phone unit and Hutchison Whampoa Ltd.’s 3 said U.K. antitrust regulators, rather than the European Union, should review a proposed merger of France Telecom SA and Deutsche Telekom AG’s U.K. operations.
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Singapore Telecommunications Ltd. is revamping its Australian unit, where a drop in revenue and customer spending prompted Southeast Asia’s biggest phone operator to forecast its first annual sales drop in 13 years.
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Hutchison Whampoa Ltd.’s incoming Chief Executive Officer for its 3 U.K. unit said he will pay a “fair price” in the upcoming auction of mobile-phone frequencies if the government continues to promote competition.
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Hong Kong billionaire Li Ka-shing ’s Hutchison Whampoa Ltd. said U.K. regulator Ofcom’s decision to open more frequencies for fast-Internet technology could distort the mobile-phone market and may lead to further consolidation.
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Singapore Telecommunications Ltd.’s Optus unit, Australia’s second-largest phone company, will cut about eight percent of jobs to reduce costs as it restructures to focus on customer service amid increased competition.
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