Beer-maker’s Billion-Dollar Bankruptcy
Vijay Mallya, who built a fortune on the back of Kingfisher beer in India, expanded into cricket and Formula 1 motor racing, and squandered it on Kingfisher Airlines, will find out today whether the United Kingdom will extradite him back to India. He faces charges there related to failure to pay his debts. He allegedly owes over $1 billion. BBC.
Next In Line
U.S. VP Mike Pence’s chief of staff, Nick Ayers, will not replace John Kelly, President Donald Trump’s chief of staff who Trump said Saturday will step down by the end of the month. The staff turnover in the White House has set records. Wall Street Journal.
Revamping Rotten Danske Bank
Danske Bank shareholders can hope that the revamped board will keep the bank cleaner than its ousted leaders did. Friday the bank replaced its chairman and in October replaced its CEO after a huge money laundering scandal involving hundreds of billions of dollars. Bloomberg.
SoftBank Hardens IPO
Japanese conglomerate SoftBank stuck to its initial guidance of ¥1,500 a share for its mobile unit IPO, scheduled for the 19th, without adding an indicative range, signaling confidence in demand for the offering. SoftBank said it will be watching Japanese government policy on interactions with Chinese telecoms giant Huawei. Financial Times.
This story was originally published by Fortune
via USAHint.com
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