HSBC Holdings had lost its bid to undo a 2009 securities fraud trial verdict, according to a Reuters report.
Investors
Halted EU-US talks complicate trade ties
With the US government's partial shutdown, talks between US and EU regarding the creation of the biggest free trade zone in the world scheduled next week in Brussels had been scrapped, said a Reuters report.
Volkswagen warned about UAW
The naivete of Volkswagen was called out by Tennessee Republican Senator Bob Corker. Tenesseee Republican Senator Bob Corker issued a warning to Volkswagen AG if the German carmaker allows the United Auto Workers to represent its workers, it would be its 'biggest mistake', The remarks were quoted by German newspaper Handelsblatt.
US default to bring catastrophe to not only the US but the world economy
A default would bring catastrophic results to the world economy. The world is anticipating the showdown on Capitol Hill over the US federal budget and debt ceiling.
US hedge funds invests heavily in Greek banks
The Financial Times reported that US hedge funds had been aggressively investing in the struggling banking sector of Greece.
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JC Penney named Jan Hodges as the new head of its struggling home goods section JC Penney Co Inc. had named an insider to be the new head of its struggling home goods section.
KKR & Co LP would soon reach a deal to acquire Crosby Group LLC in a transaction valued USD1 billion, said two sources familiar with the matter.
The recent remarks made by officials of both Bharti and Walmart indicate issues between the two. Walmart Stores Asia head Scott Price, contrary to previous reports, said a conversion of the current franchisee agreement with Bharti Retail into a joint venture is 'not tenable'.
With changes abound in LVMH, investors are now beginning to review the brand purchases done by management at its heyday.
The Transatlantic Trade and Investment Partnership had faced gale winds and now stands to undergo rough seas.
New Italian PM Enrico Letta seeks to block the intent of Air France-KLM to increase its shareholdings in Alitalia.
VTB would sell off its shareholdings in Rosbank to Societe Generale and Societe Generale would sell some Russian assets to VTB.
Bay Investment Group LLC, the venture firm of Hayah Holdings and Colony Capital, will head the master development in the city of Oakland.
The International Monetary Fund pegged the 2014 growth of the GCC at 4.4%. The International Monetary Fund had announced the increase of its forecasted economic growth for the GCC to 4.
