Chris Hagstrom was appointed head of prime brokerage for the U.S. by Switzerland's largest bank, UBS.

Itau Unibanco Holding SA will contest tax charges amounting to BRL18.7 billion (USD7.9 billion). Latin America's largest bank in terms of market value, Itau Unibanco Holding SA received tax charges amounting to BRL18.

The bank recently assigned Nikolaus Giesbert to head the newly merged fixed income and currencies sales and trading arms division.

Porsche faces court battles with investors over volkswagen AG. Porsche SE continues to face new legal battles against investors over their aborted purchase of Volkswagen AG.

Coca Cola introduces Huba, its new herbal tea drink, in its Thailand market. Coca Cola initially launched in Thailand its new herbal tea drink, Habu.

Bank of America will dissolve Merrill Lynch & Co. but will continue to keep name. Four years after it was acquired by Bank of America Corp. , Merrill Lynch & Co.

Bank of America Corp reported about USD1.5 billion were added by investors into funds that purchase leveraged loans in the U.S.

Goldman is reportedly leading in the race with Morgan Stanley to acquire largest share of Huarong's stock sale.

Swire Pacific chairman Christopher Pratt, retires and is replaced former Cathay Pacific chief executive officer.

ParknShop, the biggest supermarket chain in China received bids from companies such as Woolworths, KKR and other investors.