Industry News

Diageo Plc to deposit the remaining amount of the $75 million' sweetheart deal' payable to beleaguered businessman with the tribunal. On Saturday, the DRT passed three orders on so-called Interlocutory Applications which include lifting of the corporate veil of Kingfisher Finvest Pvt Ltd--a wholly owned company under Mallya's United Breweries Holdings..."/>
DRT tells Diageo to deposit amount payable to Vijay Mallya with tribunal [Mint, New Delhi]
Heineken NV's attempt to increase its stake in United Breweries Ltd fizzled out on Saturday as the Debt Recovery Tribunal dismissed the application by Dutch beer maker which had sought' first right' on any sale of seized shares. Heineken, which has 43% stake in UBL-filed an Interlocutory Application on 18 June seeking to implead itself in the original application filed by a consortium of banks seeking led by State Bank of India to recover over Rs.9, 000 crore..."/>
Heineken plea for 'first right' on United Breweries share sale dismissed [Mint, New Delhi]
Moody's Investors Service has maintained its negative outlook on Lebanon's banking system, reflecting the rating agency's expectation of a continued weak operating environment that will slow credit expansion and raise asset quality pressures for banks, as well as their high and growing exposure to sovereign debt. The Moody's report, entitled "Banking System Outlook-- Lebanon: Weak operating environment and exposure to sovereign drive negative outlook,"..."/>
Moody's maintains negative outlook on Lebanon's banking system [Arab News, Jeddah, Saudi Arabia]
Daily Mail, London, market report column [Daily Mail, London]
Daily Mail, London, business briefs column [Daily Mail, London]
U.S. Bancorp pushed into bankruptcy has fought back in courts and won several victories, but the Minneapolis bank company says it's not over. The company suffered key setbacks in recent months in a dispute with Maury Rosenberg that started 13 years ago."/>
For U.S. Bancorp and a Philadelphia businessman, a bankruptcy case that will not die [Star Tribune (Minneapolis)]
Hawaiian Electric Industries Inc. family. For the time being, anyway. With NextEra Energy Inc.' s proposed $4.3 billion acquisition being rejected 2-0 Friday by the state Public Utilities Commission, Hawaii's third-largest bank will continue to be a subsidiary of HEI as it has been since being acquired by the company in 1988.."/>
American Savings will stay tethered to parent for now [The Honolulu Star-Advertiser]

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