Finance & Economics | WPN World People News

Japan's largest agriculture trading house Marubeni will be acquiring the US grain merchant Gavilon Group in a $3.6 billion deal as it targets to expand operations and become a major global player in the foodgrains market.

Fears grew over the health of Spanish banking sector as the risk premium on the country's debt hit a euro-era high Monday after the government announced a $24 bailout for banking conglomerate of Bankia, the third largest state lender.

Networking equipment giant Cisco Systems plans to stop production of its business tablet device Cius, two years after its roll out, and instead focus more on software efforts.

As Greece heads for polls on June 17, for a second time in six weeks, former prime minister Lucas Papademos has warned that the country may run out of money by the end of June if international bailout funds are cut off.

Former boss of PC World and Currys, John Browett will reportedly receive a hiring bonus of $56 million from global technology products major Apple for taking charge of its retail arm.

Climate change alone could reduce the economic value of key ocean services by up to $2 trillion a year by 2100, a new study shows – but so many threats are converging on the oceans at once, that a global, integrated approach is urgently needed.

The renowned Italian fashion house Versace is to consider taking in outside investors.

US President Barack Obama has put forward a proposal to extend tax benefits for the suppliers of wind power.

Japan has opened negotiations with Myanmar on an investment agreement, the trade ministry said.
The US and EU have eased most sanctions against Myanmar, except for arms sales.

Copper traders are believed to be quite bearish on their favoured metal due to concerns about a slowing China and troubles in Europe.