Russian retailer Magnit to list in London

Magnit, Russia’s third-largest food retailer, said it aims to list on the London Stock Exchange to finance more hypermarkets and discount stores. Magnit, which is already listed in Russia, could raise about

JPMorgan to integrate Bear prime brokerage

JPMorgan Chase & Co executives have told Bear Stearns Cos employees they will integrate the firm’s prime brokerage and global trade processing businesses, the Wall Street Journal said on Wednesday, citing people

Rio Tinto says BHP rejection on value

Rio Tinto said it rejected BHP Billiton’s BHP.L $147 bln (73.4 bln pounds) takeover offer, aimed at assembling a super mining house, on value only, but warned that mining companies could run

Goldman sees $1.2 trl global credit loss

Goldman Sachs forecasts global credit losses stemming from the current market turmoil will reach $1.2 trl, with Wall Street accounting for nearly 40% of the losses. U.S. leveraged institutions, which include banks,

UUNET Kenya to expand WiMAX network with Redline

Redline Communications Group Inc., a leading Toronto-based provider of WiMAX and broadband wireless infrastructure products, announced that UUNET Kenya Ltd. has chosen Redline’s WiMAX Forum Certified RedMAX products for its national WiMAX