Financial News

LONDON (Reuters) - Arcelor will double production to 100 million tonnes of steel within five years and deals in China will be a key path to growth, its finance director told The Observer newspaper in an interview published on Sunday. The paper said Michel Wurth outlined the growth strategy which he and chief executive Guy Dolle hope will lead investors to reject a hostile bid for Luxembourg-based ...

All the talk on Wall Street recently has been about Joseph Perella. Fresh from leaving Morgan Stanley, the renowned New York dealmaker is attempting to assemble a team of bankers to form a small, independent merger advisory firm or “boutique”. // The attention paid to Mr Perella, which reached a peak last month when he poached Paulo Pereira, Morgan Stanley’s European mergers chief, reflects a broader rediscovery of the merits of boutique banking in American corporate finance. But it may be prem ...

France's BNP Paribas has moved closer to buying Italian bank Banca Nazionale del Lavoro (BNL) after it won support from the board and key shareholders. BNP bid 9bn euros ($11bn) for BNL on Friday as the lender tries to become the biggest bank in the eurozone. If successful, the sale would end a period of Italian banking mergers that have damaged the nation's credibility. A number of scandals have sprung up around the takeover of BNL and another Italian lender, Banca Antonveneta. The head of ...