GREEK government bonds, the highest-yielding in the euro area after the nation required two bailouts since 2010, may now be safer than Portuguese securities, according to Insight Investment Management.
The risk of investors having to accept more losses on Greek debt has abated following a writedown on the securities in 2012, according to Gareth Colesmith, a senior money manager at the London-based unit of Bank of New York Mellon. The company was wary of Portuguese bonds because of the nation's struggle to implement fiscal reforms, he added.
BRITISH DEBT GUARANTEE
THE UK Treasury is to guarantee all of Britain's debt even if Scotland votes to leave the UK, in an attempt to prevent creditors from pushing up the cost of government borrowing.
In a memorandum being sent to members of the financial community, the Treasury has committed to holding all of the UK's £1.2tn (€1.4tn) in debt, whether or not the Scottish people vote for independence this September.
ETIHAD SEEKS STAKES
ETIHAD Airway, the third-largest Middle Eastern airline, said it's looking for purchases in the Americas and China to round out its strategy of buying airline stakes that funnel traffic through its Abu Dhabi hub.
"We'll continue to build our equity alliance," Etihad chief executive officer James Hogan said in Berlin. "These partners allow us to stretch our network globally and they are there for the next five, 10 and 20 years." The airline owns nearly 3pc of Aer Lingus and has been keen to boost its stake in the Irish carrier.
VW'S €5BN INVESTMENT
VOLKSWAGEN plans to invest more than €5bn over the next five years in North America to revive its push to grab a bigger share of the US car market. Europe's largest carmaker will introduce a mid-sized sport-utility vehicle designed for North America in 2016.
Volkswagen has struggled to gain traction in the US. Demand for its brand fell 6.9pc last year.
HAIN TO BUY TILDA
HAIN Celestial, the US organic food company that owns Irish brand Cully and Sully, said it would buy Tilda, which produces Basmati rice, for about £217m (€260m) including cash and shares to expand its business.
Tilda generated about €139m in sales last year and it's expected to boost Hain Celestial's adjusted earnings in the second half of fiscal 2014 by 6c to 10c per diluted share.