China-focused private equity firm Fountainvest Partners, headed by ex-Temasek executive Frank Tang, has raised $1.35 billion in its second fund, the company said on Wednesday, defying tight fundraising conditions in Asia.
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Chuck Schwab Says 'Fiscal Cliff' Resolution Not Likely by Dec. 31
Investors should brace for volatility over the next few months as U.S. politicians are unlikely to agree on a budget deal by year end, though that could lead to some good buying opportunities, Charles "Chuck" Schwab, founder and chairman of his namesake firm, said on Wednesday.
GM Tells Opel Staff it Won't 'Cut and Run'
General Motors will not sell its loss-making European unit Opel or "simply close up shop and leave" it, the U.S. carmaker's Chief Executive told more than 5,000 staff in Germany.
Liquidation Deadline Looms for Twinkies Maker Hostess
A standoff between Hostess Brands Inc. and thousands of its bakery workers was heading for a showdown Thursday as both sides declared they would not bend and were set to accept the demise of the historic maker of Twinkies and Wonder Bread.
Fountainvest raises $1.35 bn for fresh buyouts in China
Economic slowdown in China accompanied by new M&A-friendly regulatory norms have encouraged China-focused private equity firm FountainVest Partners to raise a second fund with the primary objective of making fresh acquisitions.
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Stock markets retreated on Wednesday and a small bid for safety helped safe-haven U.S. Treasuries erase some losses as investors waited for progress in approving aid for Greece and in averting potential U.S. fiscal constraint in early 2013.
Jersey's financial watchdog is to probe anti-money laundering systems and controls at HSBC, following a report that Europe's biggest bank was harboring money for convicted criminals.
World stocks rose on Tuesday after U.S. markets turned higher, fueled by strong results from home improvement retailer Home Depot, while the euro rose from a more than two-month low against the dollar.
The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape.
President Barack Obama's next choice to head the U.S. Federal Reserve could have his or her hands tied if Ben Bernanke and company continue to re-write the policymaking rule book at their current clip.
Banking group HSBC has settled a case brought by a fund over losses it suffered during the collapse of fraudster Bernie Madoff's financial empire, potentially paving the way for more claims against fund custodians.
Germany's largest utility, E.ON AG, warned it was reviewing its earnings outlook for 2013, citing weak economic conditions that have hurt the energy industry.
Ally Financial Inc is nearing a deal to sell its auto financing operations in Europe and Latin America for around $4 billion, with General Motors Co emerging.
Wall Street's post-election sell-off may gather steam in the coming weeks as worries mount about the looming "fiscal cliff" and technical weakness suggests a possible correction ahead.
