Credit Suisse said on Tuesday its private banking arm would swallow its smaller asset management unit to cut costs and announced a management shake-up that raises the profile of those jockeying to succeed its beleaguered chief executive.
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ConAgra Buying Ralcorp in $5 Billion Bet on Store Brands
Long-time suitor ConAgra Foods Inc finally sealed a deal to buy private-label foods maker Ralcorp Holdings Inc for $5 billion, to tap into the booming business for packaged food that stores sell under their own brands.
'Fiscal Cliff' Deal Elusive, Though Positions Soften
The Congress advanced by inches on Tuesday toward compromise on taxes and spending, but a firm deal to avert the "fiscal cliff" at the end of the year still seemed miles away, despite growing pressure from business interests for action.
Onex to Buy Insurance Brokerage From Goldman Fund for $2.3 Billion
Canadian private equity firm Onex Corp will buy USI, one of the largest providers of insurance brokerage services in the United States, from Goldman Sachs Group Inc's GS Capital Partners private equity fund for $2.3 billion.
L'Oreal Buys Urban Decay to Beef Up Young, Prestige Offering
French cosmetics maker L'Oreal acquired U.S. make-up brand Urban Decay from private equity firm Castanea Partners as part of an effort to reach more upscale young consumers.
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Private equity firms' returns from investing in European buyouts have beaten the European stock market index over the last 10 years, according to data from Thomson Reuters.
The system of so-called "shadow banking" blamed for aggravating the global financial crisis grew to $67 trillion globally last year, a new high, amid calls from the world's top policymakers for greater control of the sector.
Australian surfwear company Billabong International Ltd, which had potential buyers withdraw takeover offers last month, said on Monday one of its directors wanted to investigate a possible leveraged buyout of the firm.
Hostess Brands Inc, the maker of the iconic Twinkies snack cake, will square off in a bankruptcy court on Monday against an agent of the U.S. Justice Department, who says the wind-down plan is too generous to management.
The first round of talks aimed at avoiding the "fiscal cliff" caused a temporary rise in equities on Friday.
Barclays did not make any "illegal payment" to win a banking license in Saudi Arabia, the bank said in a statement in response to a newspaper report last week that said U.S. authorities were looking at whether improper payments were made.
Spain's Santander plans to invest in the country's so-called bad bank in a sign that healthy domestic lenders are willing to support the entity created to clean up the aftermath of a 2008 property crash.
Spain's bad bank is generating a lot of interest among foreign investors, an economy ministry source said, and the government will meet with five investment banks on Monday to start the search for private capital.
Gravity has taken hold of Apple, and a lot of investors have been smacked on the head. (Reuters) - Gravity has taken hold of Apple, and a lot of investors have been smacked on the head.
