A total of USD13 billion is to be paid out by JPMorgan under the tentative settlement agreement forged with US authorities related to mortgage backed securities.
Legal & Regulatory
Renaissance, through Topaz Marine, set to offer senior notes
The offered senior notes from Renaissance is worth USD350 million with a five year term. Renaissance Services, an Omani based firm, announced last Monday that its subsidiary, Topaz Marine was in the process of marketing a five year USD350 million senior note offer.
Kuwait grants extension for Egypt pay back of USD2 billion aid
Egypt was able to leverage a longer term to pay back the aid package provided by Kuwait. Kuwait had given Egypt five years to repay a USD2 billion central bank deposit.
EDF partners with Areva, Chinese firms to build nuclear plant in UK
French utility company Electricite de France (EDF) would be joining forces with Areva and two Chinese nuclear firms to build a nuclear power plant in the UK.
Pope Francis sits down with ECB head Mario Draghi
Pope Francis meets with ECB President Mario Draghi for unspecified matters. The head of the Roman Catholic Church, Pope Francis, had held discussions with European Central Bank President Mario Draghi during a private audience held last Saturday.
Latest News
According to banking sources, the Financial Times said the IPO of UK's Royal Mail was underpriced.
Bernie Madoff's sons were vindicated for the civil case over the properties of their father in the UK.
The five year ban on holding public office for Silvio Berlusconi was upheld but reduced from five years to two years.
The Chairman and two other senior executives of China Solar Energy Holdings Ltd were arrested by Chinese authorities.
A report from the Daily Telegraph said the UK government would be deciding on the future of Royal Bank of Scotland by next month.
Trial began Tuesday for the case filed by Chevron Corp against villagers in Ecuador and their lawyer Steven Donziger.
American economist Lawrence Summers said policy makers should focus on growth strategies rather than debate on issues about the budget deficit.
Bondholders were sought protected by Mario Draghi through the European Central Bank. The European Central Bank head Mario Draghi informed the European Commission last month requesting that bondholders be spared any losses in the event a bank rescue occurs until such time an EU banking union is put in place.
Fresh investments were promised by BP and Reliance Industries in oil and gas. The top executives of BP and Reliance Industries, CEO Bob Dudley and Chairman Mukesh Ambani respectively, jointly promised fresh investments worth up to USD10 billion in oil and gas.
