Shell, PetroChina bid $3 billion for Australia's Arrow
Reuters) - Royal Dutch Shell (RDSa.L) and PetroChina (0857.HK) jointly bid more than $3 billion for Australia's Arrow Energy (AOE.AX), marking a Chinese firm's first foray in the country's burgeoning coal-seam gas sector and sending Arrow's shares soaring by nearly half.
SINGAPORE (Reuters) - Asia shares fell on Wednesday as surprise declines in U.S. consumer confidence and German business sentiment fueled fears about the strength of the global economic recovery and boosted the safe-haven yen.
European banks need to issue $327 billion annually: Citi
(Reuters) - Twenty-four European banks may need to issue about 240 billion euros ($327 billion) annually for the next three years to fund existing and new businesses, as well as to meet the new Basel stable funding requirements, Citigroup said.
FRANKFURT (Reuters) - A German government advisory panel has raised doubts about whether General Motors' reorganization plan for European arm Opel deserves crucial state aid, the Financial Times paper reported on Thursday.