A report by Bloomberg read that New York-based investment firm BlackRock said it complied with disclosure rules in its Telecom Italia stake after a watchdog said in a newspaper interview that the firm may have not followed rules when it did not report an increase in its stake in the telecommunications firm..
Legal & Regulatory
US regulators clear Gannett's $1.5 billion Belo takeover, obliges Belo to divest KMOV
US antitrust regulators gave the green light to Gannett Co. Inc.'s $1.5 billion purchase of Belo Corporation as long as the deal excludes St. Louis television station KMOV-TV.
Citigroup Inc sells private equity unit to abide by Volcker Rule
To follow the requirements of the Volcker Rule, Citigroup Inc sold private equity unit Metalmark Capital, Bloomberg reported. The terms of the deal were not disclosed.
Ireland is no tax haven, it's just competitive - report
A report on VentureBeat explained why the country of Ireland is not an attractive investment only for its low corporate tax rate, which many US tech companies with offices in the region had taken advantage.
Discount chain Loehmann's files for bankruptcy
Loehmann's Holdings Inc., a seller of discounted designer goods from brands like Michael Kors and Calvin Klein, has filed for bankruptcy protection in the US Bankruptcy Court in Manhattan.
Latest News
BlackRock Inc will have to say on Monday what stake it holds in Italy's biggest telecom operator Telecom Italia, after the Italian market watchdog threatened to fine it for not disclosing an increase.
On Saturday, the Chinese State Council said that it has instructed the China Securities Regulatory Commission to life the approval restrictions on small and medium-sized companies with less than 200 shareholders.
The fight between Pay-television companies and major US broadcasters, and TV over Internet startup Aereo would most likely see intervention from the US government, according to a report on Investors Business Daily today.
The Reserve Bank of India recently announced that multinational companies can hike their stakes in Indian arms without its approval. Many MNCs are now looking to increase their stakes, go for a merger or de-list their local units.
The China Securities Regulatory Commission or CSRC revealed new plans on public share sales as initial public offerings are set to resume in January next year, Reuters reported.
The Louisiana Sheriffs' Pension and Relief Fund sued IBM for its cooperation with the National Security Agency over a spying program that allegedly hurt investors, Bloomberg reported.
Hospitality Staffing Solutions said it had obtained approval from the court to sell its assets to HS Solutions Corporation. Financial details about the deal were not disclosed.
Judge Katherine Forrest dismissed the lawsuit filed by investors led by two pension funds against UBS, which accused the bank of fraud regarding the latter's risk management practices, Bloomberg said.
According to the South China Morning Post, the growing popularity of the Bitcoin has also led to a boom of sorts in bitcoin software for smartphones, the South China Morning Post reported.
