Merchant banks

Warren Buffett-Backed Capital One to Buy Discover Financial in $35 Billion Deal

Warren Buffett-backed Capital One is set to acquire US credit card issuer Discover Financial Services in an all-stock deal valued at $35.3 billion.

Sebi upgrading surveillance for CommExes

India's securities market regulator Sebi is upgrading and strengthening its surveillance system on commodity exchanges (CommExes). Recently, Sebi has barred 16 commodity trading members from trading f..

Wall Street gains prop up stocks in Asia, Australia

Encouraging gains on Wall Street were propelling up stocks in Asia and Australia. Barring Hang Kong and Japan, all the major market benchmark indices in Asia and Australia, rose...

Argentina to issue $15-bln bonds, returns to credit markets

Argentina is planning to issue $15-bilion bonds making it the largest sum by any developing nation since 1996. Country's new President Mauricio Macri-led government will use funds mobilized through bo..

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Raiffeisen Bank International to increase bad debt provisions for 2013
Raiffeisen Bank International had been drubbed by bad debts in its Eastern European business as well as insolvencies and restructuring in its home country of Austria.
Shadow banking precursor to another 'Lehman Weekend'
The 'Lehman Weekend' was the height of the financial crisis five years ago and may be repeated if 'shadow banking' would be allowed to continue without regulatory action.
EU agency to manage weak banks and deep debts to be set up post-German elections
The Bank Recovery and Resolution Directive for all EU members to recognize the Single Resolution Mechanism would be created after the German elections.
Taxing financial deals is illegal- EU lawyers
Lawyers of the European Union said the proposed transaction tax plan was illegal.
To avoid bankruptcy, OGX Petroleo may seek more cash from bondholders
OGX Petroleo, Eike Batista's flagship company, may seek more financial assistance from bondholders to avoid seeking bankruptcy protection.
Mauritius opening up to Indian banks
Indian banks are seeking to set up shop in Mauritius in order to gain from possible business the African continent would provide.
After regulatory investigations, JPMorgan Chase beefs up oversight- sources
Sources told the Wall Street Journal that JPMorgan & Chase would be allocating USD 4 billion to strengthen its oversight controls.
Basel IV requirements would need another GBP50 billion for compliance
UK banks would need another GBP50 billion on top of GBP13.7 billion to comply with both Basel III and Basel IV.
Pundits, analysts see US Crop Insurance program a money-laundering scheme
Analysts and pundits alike saw that private insurers who received state aid are reaping more benefits than they should.
Barclays reveals it will spend GBP 1.4 billion in consumer bank overhaul
Barclays said would spend GBP 1.4 billion to revamp its consumer banking unit.
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