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.
Legal & Regulatory
Chilean drug maker CFR makes BEE pledge in Adcock takeover
Chile-based drug firm CFR Pharmaceuticals promised a 25.1% stake for its black shareholders should the acquisition of local pharmaceutical company Adcock Ingram be approved, in line with South Africa's black economic empowerment (BEE) codes.
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.
Philippine central bank approves merger between China Bank unit and rural bank
The central bank of the Philippines approved the merger between China Bank Savings In and rural bank Unity Bank Inc, expanding China Bank's network to 90 branches.
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.
Latest News
A report on the Financial Times recounted the similarities of the rise, and possible downfall of the popular Bitcoin to early virtual currency favorite e-gold.
UK Crowdfunding Association (UKCFA) Chair Julia Groves called out Christine Farnish of the Peer-to-Peer Finance Association regarding the latter's insistence that the Financial Conduct Authority's (FCA) definition of online crowdfunding was misleading.
Private equity firms T. Rowe Price Group Inc, Magnetar Capital LLC and over 100 shareholders of Dell Inc invoked their rights for an appraisal of their collective 2.7% interest in the company through the Delaware court system in contest of the USD24.9 billion buyout of Dell.
23andMe Chief Executive Officer Anne Wojcicki defended her company's genetic testing product and stands by the data on the accuracy of their results after the public warning letter issued by the US Food and Drug Administration.
The following bids, mergers, acquisitions and disposals were reported on Wednesday including Sinopec, Apache, AMR, US Airways, Deutsche Bank, EDF, Oxford, Andor, Bank Zachodni WBK, Shuanghui, Campofrio, OCZ, Toshiba and CVS Caremark.
India's finance ministry is resisting pressure from other departments to cap foreign ownership of domestic drugmakers, fearing such a move would discourage potential investors, a senior ministry source said.
Turkish mobile phone company Turkcell has taken to a South African court its $4.2 billion lawsuit against rival MTN Group, alleging it was the victim of "corruption and bribery" that caused it to lose a contract in Iran.
The U.S. Justice Department is probing Morgan Stanley for its hiring practices in China. The move comes as U.S. authorities expand their investigation into whether banks' hiring of politically connected Chinese employees may have breached U.S. bribery laws.
Florence Yip Chiu Kwai-fong, a member of the Financial Services Development Council, said the Hong Kong government needs to make changes in the law that will allow private equity funds to be set up as limited partnerships to enhance the city's fund industry.
