Thailand's Charoen Pokphand (CP) Group, controlled by the country's richest man Dhanin Chearavanont, has taken over global bank HSBC's 15.6 percent stake in China's Ping An Insurance, one of world's largest insurers.
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Sprint Nextel Eyes Full Ownership of Clearwire, Offers $2.1 Billion
The move is also reportedly aided by a planned purchase of 70 percent of Sprint by Japanese mobile firm Softbank, with an associated capital infusion.
UBS Faces $1 Billion Fine for Libor Rigging
Swiss bank UBS faces a fine of about $1 billion next week to settle charges of rigging the Libor interest rate benchmark, a person familiar with the situation said on Thursday.
Mercedes Sees Record U.S. Sales, Won't Win Luxury Race
Mercedes-Benz expects to lose its lead in the U.S. luxury market to German rival BMW, which is expected to be aggressive in its incentive strategy this month.
Delta Picks Up 49% in Virgin Atlantic for $360 Million, Revs Up for Transatlantic Market
Delta Air Lines has agreed to pick 49 percent in Virgin Atlantic for $360 million. A two-year wait has finally yielded the much-vaunted outcome. American carrier Delta Air Lines has agreed to pick up a 49 percent stake in Virgin Atlantic for $360 million, which will give it access to London's Heathrow airport, the veritable hub of European corporate travelers.
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Tax consultancy in The Netherlands is seemingly on the upswing in view of a greater number of corporates seeking to establish their European holding companies in the EU member country because of its many bilateral tax agreements with other nations to prevent double taxation. Against this backdrop, US private equity firm Blackstone Group LP has decided to buy Dutch tax consultancy Intertrust from Dutch private equity firm Waterland for a reported $883 million (675 million euros).
HSBC has agreed to pay a record $1.92 billion fine to settle a multi-year probe by U.S. prosecutors, who accused Europe's biggest bank of failing to enforce rules designed to prevent the laundering of criminal cash.
US insurer American International Group Inc (AIG) has decided to sell 90 percent of its stake in ILFC, the world’s largest aircraft leading business, to a Chinese consortium –comprising New China Trust, which is one-fifth owned by Barclays Plc, China Aviation Industrial Fund and P3 Investments Ltd -- for a total consideration of $4.8 billion. An arm of Industrial and Commercial Bank of China will join the consortium once the deal has regulatory approval.
New York City Mayor Michael Bloomberg’s plans to bid for The Financial Times Group, which includes the world's leading business daily Financial Times (FT) as Pearson Plc, the publisher of FT, is reportedly planning to sell the daily.
British TV decoder maker Pace Plc confirmed on Monday that it had made an early-stage proposal to internet group Google Inc to acquire its set-top TV box maker Motorola Home.
McDonald's Corp's sales at established restaurants rose more than expected in November as a renewed emphasis on low-priced menu options, such as $1 Sausage McMuffins and coffee, helped the company bounce back from a rare decline in October, it said on Monday.
A U.S. federal judge on Monday ordered Goldman Sachs Group Inc to take down statements from its website related to its representation of Dragon Systems in a 2000 sale that blew up when acquirer Lernout & Hauspie went bankrupt after accounting regularities emerged.
Goldman Sachs Group Inc was fined $1.5 million to settle charges it failed to supervise its traders and allowing one futures dealer to hide billions in dollars from sight and causing a $118 million loss.
US Airways Group Inc has made a formal merger proposal to American Airlines parent AMR Corp and its creditors that could value the combined airline at around $8.5 billion, two people familiar with the matter said on Friday.
