New inclusions to avoid the London Whale scandal is sought to be included in the new Volcker Rules, which may result in failure to meet the mandated year end deadline.
North America
Aptalis Pharma appoints underwriters for IPO- sources
Sources told Reuters that Aptalis Pharma Inc had appointed lenders to manage its IPO. Aptalis Pharma Inc reportedly hired banks to manage its initial public offering.
Massachusetts state pension fund ranks first in private equity investment returns- study
The state pension fund of Massachusetts ranked the first in private equity investments, according to a report from the Private Equity Growth Capital Council.
HP looks for buyers of mobile patents-sources
Sources said Silicon Valley computer maker Hewlett-Packard was looking for buyers for its mobile computing patents.
Sun Life Financial says China joint venture to become profitable in two years
Sun Life Everbright Insurance Co, the joint venture firm between Canada-based Sun Life Financial and state-controlled China Everbright Group, would turn a profit by 2015.
Latest News
E*Trade Financial would be selling G1 Execution Services unit for USD 75 million. E*Trade Financial Corp would be selling market-making arm G1 Execution Services to Susquehanna International Group in a deal worth USD 75 million.
A report from Canadian newspaper Globe and Mail said that John Sculley, a former Apple CEO, was mulling a possible bid for BlackBerry.
ING Groep raised USD 974 million from selling its New York-based US insurance business. Amsterdam-based financial services firm ING Groep was able to gather USD 974 million or EUR 706 million from the sale of its US business.
With a return of just 6.4% per year in traditional investment vehicles, a shortfall of 1.6%, many pension funds opt to invest in alternative options which promise higher returns.
The suits claim breach of fiduciary duties, flawed sales process and inadequate consideration for the Tellabs sale to Marlin Equity.
US District Judge Jed Rakoff had set a hearing on the issues and a date for his rulings by December on the civil case against Countrywide Financial Corp's defective loan transactions with Fannie Mae and Freddie Mac.
The US Navy sold the USS Forrestal to All Star Metals for one cent. Texas-based shipbreaker All Star Metals purchased the decommissioned USS Forrestal for one cent.
Reser's Fine Foods issued a recall of 109,000 refrigerated products for Listeria monocytogenes contamination.
Royal Bank of Scotland US subsidiary Citizens Financial Group is bidding out nearly 105 branches with USD6 billion in deposits and USD2.4 billion in loans.
