In a 254-159 vote, the US House of Representatives passed a legislation exempting private equity firms from provisions in the 2010 Dodd-Frank Wall Street Reform Law. However, a similar action is not expected from the Democrat-dominated US Senate.
Legal & Regulatory
China gives green light to USD1.3 billion Dongfeng-Renault joint venture
The Chinese government on Thursday cleared the USD1.3 billion car-making joint venture between Dongfeng Motor Group and France's Renault. Under the deal, the two companies will manufacture 150,000 multi-purpose vehicles annually.
Eversheds combines with South African, Tunisian law firms for African expansion
International law company Eversheds expands in Africa through partnerships with Mahons Attorneys in South Africa and El Heni in Tunisia. Both firms will be rebranded as Eversheds.
Bubble on Bitcoin will burst with no intrinsic currency value - Greenspan
Former Federal Reserve Chairman Alan Greenspan told Bloomberg Television today that despite the high trading value of the Bitcoin, the virtual currency holds no intrinsic currency value like with real physical money.
Small Business Investor Alliance favors US private equity reform
The Small Business Investor Alliance, who had been championing the the Small Business Capital Access and Job Preservation Act in the US House of Representatives, expressed their approval for the passage of the Act.
Latest News
A federal judge's ruling Tuesday that Detroit is eligible for bankruptcy protection offers municipal bond investors a dose of clarity that could be welcome news at the end of a rough year for the U.S. muni debt market.
Repsol Chairman Antonio Brufau insisted on Tuesday that the government of Argentina should offer a compensation package that will convince the Spanish oil firm to settle the expropriation of its stake in energy firm YPF.
An unnamed private equity insider filed a complaint with the US Securities and Exchange Commission claiming that private equity firms KKR, TPG and Goldman benefited from the leveraged buyout of Texas-based utility TXU by acting as unlicensed brokers and collecting massive transaction fees in the process.
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.
Industry executives and academics said mandatory budget cuts or sequestration have led to job losses and could eventually undermine the competitiveness of the US in the global economy, a Reuters report said.
The Federal Trade Commission in a statement said the US government approved Microsoft Corp.'s acquisition of Nokia's mobile phone business on November 29. The European Union is set to decide on the matter on December 4.
India's Foreign Investment Promotion Board has given the green light to Hennes & Mauritz's (H&M) INR7.2 billion (USD115 million) investment. The Swedish retail-clothing company looks to open 50 stores in India.
Indonesia's largest taxi company Blue Bird Group reportedly postponed its initial public offering this year after failing to get an approval from the Financial Services Authority of Indonesia.
New rules set forth by the UK Pensions Regulator will enable companies to make their businesses more sustainable while still being able to give their employees their retirement benefits.
