Investment banks

Morgan Stanley, UBS hired to run Applus+ IPO -source

The private equity owner of Applus+ has picked Morgan Stanley and UBS to oversee a stock market listing of the Spanish industrial testing firm, a person familiar with the matter said.

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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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Startup's biggest funding comes from family, friends - Fundable

Friends and family of startups were found to be its biggest supporters, shelling out USD23,000 in a business on average, totaling USD60 billion in fresh capital annually, based from data collected by online crowdfunding platform Fundable.

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Brazil's Grupo BTG Pactual files application for US commodity trading, warehousing

Latin America's largest investment bank, Grupo BTG Pactual, has applied with the commercial licensing bureau of Michigan to manage a commodities warehousing business in the US.

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Investment banks to reduce pay again amid increase in profits- report

A Financial Times report said investment banks worldwide are set to reduce employee remuneration for the third year even as profits have increased, highlighting the importance placed on shareholder returns than on the pay of employees.

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UBS to buy EUR1.75 billion of its bonds back

Switzerland bank UBS AG launched its EUR1.75 billion or USD2.4 billion bond buyback program, which will be applicable to subordinate and senior unsecured bonds in several European currencies.

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US major banks amass cash by rejecting US Treasuries in light of taper risk

Data gathered by the US Federal Reserve showed a decline of over USD80 billion in nanks' holdings in federal agency bonds and Treasuries, marking its first annual decline since 2007.

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Aviva, Sabanci hire banks for Turkish pension unit IPO - sources

British insurer Aviva Plc and Turkey's Sabanci Holding have mandated Citigroup and HSBC to sell between 20 and 25 percent of Turkish life and pensions joint venture Avivasa Emeklilik & Hayat Sigorta in an initial public offering, two sources told Reuters on Friday.

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Morgan Stanley take top position in Japan M&A in 16 years - report

Morgan Stanley now leads in mergers and acquisitions in Japan, advising 41 takeovers this year worth USD 28.3 billion, through its venture with Mitsubishi UFJ Financial Group Inc.

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European institutional investors seriously concerned about proposed dark trading volume caps- study

A new research from TABB Group Europe showed that almost 90% of institutional investors in Europe were concerned about the proposed restrictions of dark trading.

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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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South Korean government upsizes IBK block sale to USD250 million

The government of South Korea has increased the offering size for a part of its stake in Industrial Bank of Korea (IBK) to USD250 million. Its finance ministry will be selling 23.24 million shares instead of the initial 13.16 million shares.

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Gold Fields keen to stretch maturities of loans - CEO

Due to the swing of gold prices, South African mining company Gold Fields Ltd had resorted to negotiating with its creditors for an extension of its loan maturities, said Gold Fields CEO Nick Holland.

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Six private equity firms bid for ITW in a possible USD3 billion deal -sources

Investment firms Carlyle Group, Blackstone Group, Apollo Global Management, Bain Capital, Ares Management and a consortium of Onex Corp and Canada Pension Plan Investment Board are reportedly bidding for Illinois Tool Works' industrial packaging unit in a deal that could bring in USD3 billion.

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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 Airways, Dubai Holding, SunEdison, Blackstone, Greece National Bank, IMG Worldwide, KKR, Babcock, AMR, Orrick, BAC and Fisker Automotive.

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