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GM to raise investment plan
SEOUL: General Motors Co and the South Korean government are considering raising the size of their investment in the US automaker’s South Korean subsidiary from a previously proposed $2.8 billion, a senior government official with direct knowledge of the matter said on Wednesday. GM President Dan Ammann will be also visiting South Korea on Thursday to meet lawmakers and government officials including Korea Development Bank
 
 
Costa Coffee to break from Whitbread after investors’ pressure
LONDON: Costa Coffee will be spun off as an independent business after owner Whitbread yielded to pressure from hedge fund investors who saw value in breaking up a group that also runs the Premier Inn hotel chain. Costa Coffee, second in the global coffee shop market after Starbucks Corp, had attractive long-term international opportunities, Whitbread said. The move will leave former brewing group Whitbread with its Premier Inn
   
Eurozone bonds feel the heat as T-bond yields push beyond 3%
LONDON: A rise in US Treasury yields above 3 per cent kept upward pressure on eurozone borrowing costs on Wednesday, although a looming European Central Bank (ECB) meeting contained the sell-off in the single currency bloc. The US 10-year Treasury yield pushed further past 3 per cent in European trade, having hurdled the psychologically important level on Tuesday as strong US data reinforced the view that a 30-year bull market
 
 
Metro Bank expects to issue up to $349 million
LONDON: Britain’s Metro Bank said on Wednesday it expected to issue up to 250 million pounds ($349 million) of new debt this year, stoking concerns it may need to raise even more capital to challenge the country’s biggest banks. Shares in Metro Bank, which was founded in 2010 to help break up the dominance of Britain’s biggest banks, were trading 11.2 per cent lower at 31.24 stg by 0937 GMT after flagging the likely fundraising
   
China to support rental housing market
BEIJING: China unveiled fresh measures to support the rental housing market on Wednesday, making it easier for companies in the sector to raise money and paving way for retail investors to buy into securities such as Real Estate Investment Trusts (REITs). China is working to boost the rental market to help rein in hot property prices and satisfy housing demand, with President Xi Jinping reiterating recently that “houses are for
 
 
Japan seeks role in French-German marine project
TOKYO/BERLIN: In a fresh bid to win its first major foreign arms deal since World War Two, Japan is proposing its P-1 submarine hunter for a French-German project to develop a marine surveillance aircraft, two Japanese government sources said. Discussion between the three governments began last year. Japanese officials also asked Kawasaki Heavy Industries, which makes the P-1, to discuss possible partnerships with France’s
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