Commercial banks

Warren Buffett-Backed Capital One to Buy Discover Financial in $35 Billion Deal

Warren Buffett-backed Capital One is set to acquire US credit card issuer Discover Financial Services in an all-stock deal valued at $35.3 billion.

Citigroup to Close Down Global Distressed-Debt Business: Here's What to Know

Citigroup Inc. is reportedly closing its global distressed-debt group as it undergoes further restructuring under CEO Jane Fraser's leadership...

Citigroup's Plan to Set up Securities Business in China Faces Delay

Citigroup Inc. is reportedly facing delays in its plans to establish a fully-owned securities business in China...

JPMorgan Chase Reportedly Plans to Outsource $500 Billion Custody Business in Hong Kong, Taiwan

JPMorgan Chase is reportedly planning to outsource its local custody business operations in Hong Kong and Taiwan...

Latest News

Massachusetts closes some of the highest-priced M&A deals in the US- SNL Financial report
An SNL Financial report showed that lenders in Massachusetts closed some of the priciest bank deals in the past three years in the US. Four mergers and acquisitions done in the Bay State made it to th
Increased litigation costs led to decline in bank profits in Q3 - FDIC report
The Federal Deposit Insurance Corp reported that the increased litigation cost at one unnamed institution was the primary reason why FDIC-insured banks and savings institutions posted decreased profit
Top deals of the day - bids, mergers and acquisitions
The following bids, mergers, acquisitions and disposals were reported on Monday including Greece banking, Fiat, BOFA, Mechel, Saputo, RBS, Lohmann, Carlyle Group, Monte dei Paschi di Siena, Kuwait Air
Spain's 'bad bank' sells loan bundle to Bank of America - sources
Bank of America Merrill Lynch has bought a small package of loans from Spain's so-called 'bad bank' Sareb, helping the vehicle to surpass year-end sales targets, two sources familiar with the situatio
Thai govt's collateral-free loan scheme may not combat loan sharks-report
The new collateral-free microfinance program set to be implemented next year by the Finance Ministry of Thailand to fight illegal loan sharks may not gain wide acceptance due to its high interest rate
China set to overtake Japan in this year's outbound M&A deals
China is set to become Asia's leader in outbound corporate acquisitions this year, ending Japan's two-year reign, as the country's appetite for overseas targets expands beyond natural resources and in
Former Credit Suisse banker Serageldin gets 30 months
Kareem Serageldin, a former banker of Credit Suisse, was sentenced to 30 months in prison for his role in the scheme that inflated the prices of subprime mortgage bonds artificially at a time when hou
Top deals of the day - bids, mergers and acquisitions
The following bids, mergers, acquisitions and disposals were reported on Friday, including Microsoft, Comcast, Green Dot, Goldman Sachs and others.
Goldman Sachs burned by bad currency bets in 3rd quarter
Goldman Sachs Group Inc lost more than $1 billion on currency trades during the third quarter, recent regulatory filings show, offering some insight into why the firm, reported its worst quarter in a
US regulators, banking industry set talks to for guidelines on marijuana banking
The US Treasury Department will meet with the banking industry in December to give guidelines on how to deal with marijuana businesses in states that have legalized marijuana use.
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