Canada's Alimentation Couche-Tard has dropped its 16.2 billion euro ($19.6 billion) bid to acquire European retailer Carrefour SA after the takeover plan ran into stiff opposition from the French government, two sources familiar with the matter told Reuters on Friday.
By Reuters Staff
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Zambia s President Edgar Chagwa Lungu addresses the 74th session of the United Nations General Assembly at U.N. headquarters in New York City, New York, U.S., September 25, 2019. REUTERS/Lucas Jackson
LUSAKA (Reuters) - Indebted Zambia has appointed communication firm Highgate Advisory Ltd as it negotiates with creditors to restore its debt to sustainable levels, Secretary to the Treasury Fredson Yamba said.
Zambia, Africa’s second-largest copper producer, is seeking debt relief from its creditors after missing a $42.5 million bond coupon payment in November, becoming Africa’s first pandemic-era sovereign default.
Highgate has been engaged for a period of six months at a cost of 333,403 pounds ($452,962), Yamba said in a statement.
On Wednesday, Joe Biden will be inaugurated as the 46th president of the United States, taking over the leadership of a country racked by COVID-19, deep socio-economic divisions and facing challenges to its global leadership role.
By Reuters Staff
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WASHINGTON, Jan 14 (Reuters) - The Treasury Department announced on Thursday it was overhauling its stake in Fannie Mae and Freddie Mac, charting a course for the housing giants to slowly rebuild their capital with an eye towards eventually letting them issue public stock and escape government control.
The changes would allow the pair to retain profits in exchange for giving the Treasury a larger stake, but envisions years of rebuilding capital cushions before they could pay out dividends to investors or exit government control.
Government officials also acknowledged that a number of complicated issues must still be resolved by the incoming Biden administration. (Reporting by Pete Schroeder Editing by Chris Reese)