Commercial banks

Sources say The Rubicon Project Inc hires Morgan Stanley, Goldman Sachs Group Inc for IPO

Morgan Stanley and Goldman Sachs Group Inc were hired by The Rubicon Project Inc to lead its IPO next year.

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BNP Paribas says it will purchase Polish unit of Rabobank Groep in EUR 1 billion deal

BNP Paribas, the largest bank in France, said it will be buying Bank Gospodarki Zywnosciowej, the Polish arm of Dutch bank Rabobank Groep, for EUR 1 billion.

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Australia's Westpac gets approval for Lloyds acquisition

Westpac Bank has received approval from the Australian Competition and Consumer Commission to purchase the Australian assets of Lloyd's Banking Group for USD1.45 billion.

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Top deals of the day - bids, mergers and acquisitions

The following bids, mergers, acquisitions and disposals were reported on tuesday including Adcock Ingram, Energa, Nordea Bank, Alitalia, Ben Venue, TIM Participacoes, Douglas, Mercator, Novartis, OncoMed, Kerning and Malaysia Airports

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Square 1 Bank provides $4.5M loan to Chicago-based Sittercity

A USD 4.5 million credit facility was granted to Chicago-based online provider for in-home care Sittercity by Square 1 Bank, a bank that exclusively caters to the needs of entrepreneurs and the venture capital community.

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Wal-Mart keeps Bank of America to run $18 bln 401(k) plan

Wal-Mart Stores Inc is sticking with Bank of America's Merrill Lynch unit to run its 401(k) program with $18 billion in assets, Wal-Mart confirmed on Tuesday.

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Sources say Citigroup Inc intends to give two insurers rights to distribute products in Asia

Sources interviewed by Bloomberg said Citigroup Inc is planning to give distribution rights to sell its products in Asia to at least two insurance firms.

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Sources say Maybank's Etiqa mulling bid for Mega Life Asuransi Jiwa

Malaysia-based Etiqa, the insurance unit of Maybank, is said to be thinking of bidding for Indonesian insurer Mega Life Asuransi Jiwa, according to sources interviewed by Bloomberg.

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Canadian lenders look to wealth management for earnings growth- report

Canada's largest lenders are turning to wealth management to spur growth in the wake of the slowdown in capital markets and lesser borrowing among consumers, a Bloomberg report said.

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Gaelectric raises EUR90 million for wind project

Gaelectric has received a funding of over EUR90 million from Irish and German sources for its third operating wind farm project in Dunbeg. Earlier this year, the wind farm company nabbed EUR65 million in debt financing.

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Central bank says Brazilian monetary policy may be compromised if Supreme Court rules against lenders

The central bank of Brazil said the country's monetary policy stands to be compromised if the Supreme Court rules against the nation's largest lenders for implementing government rules to fight hyperinflation in the past.

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Structured investments by US banks jump to USD69 billion in third quarter - FDIC

New data released by the US Federal Deposit Insurance Corporation reflected the increasing activity in structured products purchases by US banks to offset effects of low interest rates.

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Intuit partners with Capital One, Wells Fargo to provide access to customer financial data

The partnership of US software company and QuickBooks maker Intuit's partnership with banks Capital One and Wells Fargo for a loan facilitator program was a clear indication of companies turning into cloud computing and data analytics to improve their services, said an article published on the Financial Times.

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Anbang Insurance Group mulls bid for Hong Kong 's Wing Hang Bank- sources

Sources told Bloomberg that Beijing-based insurance firm Anbang Insurance Group was thinking of offering a bid for Hong Kong's Wing Hang Bank Ltd even though an Anbang press official said the company has no plans to purchase the lender.

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Small businesses fuel subprime loans boom - report

The New York Times' The Dealbook reported that small businesses were now fueling a boom on the subprime loan business as investors look for more lucrative but riskier investments.

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