School bus company Atlantic Express Transportation Corp filed for debt relief. Atlantic Express Transportation Corp sought Chapter 11 bankruptcy protection, according to a court filing.
Legal & Regulatory
Bank of Nova Scotia rebrands and launches Tangerine
ING Groep NV's Canadian online bank is to be known as Tangerine. ING Groep NV's Canadian online bank was purchased by the Bank of Nova Scotia.
Norway's opposition Labor Party seeks to prevent investment areas for its coal fund
The Norwegian oil fund sought prevented from investing in specific markets. The opposition Labour Party of Norway had proposed a ban on the country's USD800 billion wealth fund from investing in coal producers.
PPF Group NV to return Telefonica Czech Republic back to local hands
PPF Group NV agreed to purchase Telefonica Czech Republic's majority shareholdings. The PPF Group NV of billionaire Petr Kellner had agreed to purchase the controlling stake in Telefonica Czech Republic.
UAE banking rules criticized, government revision soon to come out
With vigorous criticism of the rules on banking exposure related to government related debt, the UAE central bank was forced to review the rules and study on how to lessen its harsh effects.
Latest News
Twitter reprices its IPO shares to USD23 and USD25 per share, pegging the volume price at USD1.75 billion.
Top equity fund manager in Thailand reduced domestic shares holdings and sold off stocks while protests against government amnesty bill continued.
SAC Capital pleaded guilty to five counts of criminal charges amounting to USD1.2 billion in penalty.
YRC Worldwide Inc sought new labor contract terms from its union employees to get lenders' approval to refinance the trucking company's borrowings.
In response to developments in US economy, Fed officials scaled back asset purchases. In a report by Reuters, the Federal Reserve scaled back asset purchases following the slow improvement of the US economy.
With Switzerland requiring higher capital ratios, banks may be hard pressed to continue with their normal operations according to JPMorgan Chase analysts.
Some say the Euro is overvalued while others claim it is not. The founders of the Euro had dreamt of a superpower currency that can go head to head with the US dollar, to free Europe from US economic dependence.
JPMorgan Chase hiring practices now being reviewed by US, British and Hong Kong regulatory authorities.
The Confederation of British Industry said they are campaigning for a reformed European Union for British interests.
