US-based financial services may soon submit an application for a securities license to allow it to underwrite yuan-denominated shares and license for futures brokering. It will be conducting trading for clients as well.
Within two yearâs, the lender is looking at establishing and running the business. It plans to hire a chief executive officer for China operations and 50 people will be hired initially with a plan to grow to about 100. Other than hiring new talents, the lender may move staff from its existing operations to this new business.
After the country lifted foreign ownership restrictions, many financial entities entered China and Citigroup is expected to be the latest entrant into Chinaâs securities market.
Tesco, Iceland, Sainsbury s and Asda recall cheese and other products because of contamination fears
Potential nut and Hepatitis A contamination are concerns in a number of product recalls
Updated
Tesco customers with an allergy or intolerance to egg are being asked to return a batch of tzatziki to the store (stock image) (Image: Hollie Adams/Getty Images)
Sainsbury’s Tesco, Aldi and Asda are among the major UK supermarkets to issue urgent product recalls on a number of items due to a range of safety concerns.
Lactalis McLelland Ltd, which produces the President cheese brand stocked in Iceland and Tesco, has announced that certain batches will need to be returned due to a potential nut contamination.
“EG Group continues to identify innovative partnerships and acquisitions that complement our existing consumer offer and enable us to stay at the forefront of consumer trends, particularly in food service,” Mohsin and Zuber Issa, the company’s co-founders, said in a joint statement. “Our equity investment in Leon is to strengthen our own participation in the fast-growing contemporary food service segment.”
The deal adds to the turbocharged expansion by EG Group, which owns the UK supermarket chain Asda Group. The company has fuelled its growth at breakneck speed in the debt markets since 2017.
EG Group pursued its first privately-placed bond transaction earlier this year to raise funds for an acquisition spree. It acquired around £140 million of loans from Swiss private equity firm Partners Group to finance a purchase of coffee chain Caffe Nero, the