ISS advises shareholders in JP Morgan to elect independent chairman. Proxy advisory firm Institutional Shareholder Services advised JPMorgan Chase & Co to disassociate the duties of a Chairman from the Chief Executive Officer.
Sectors
Asian Nations Guard Against Repeat of 1997 Currency Crisis
Asian nations issue statement to avoid mistakes that lead to 1997 currency crisis. Major regional economies in Asia need to be on guard against execssive risks and asset bubbles boosted by efforts of central banks efforts to build economic growth.
IPOs Soon to Come to Rwandan Bourse
The Commercial Bank of Rwanda is the first IPO to be done in the Rwandan Stock Exchange. Rwanda has just announced that two companies, namely the Commercial Bank of Rwanda and the national air carrier RwandAir would be listing in the country's fledgling stock market.
EU Advises France to Shape Up
EU advises France to lower its budget deficit. Michel Barnier, the EU Internal Market Commissione advised the French government to undertake its planned reforms.
Ray Irani Says Goodbye to Position of 23 Years at Occidental
Ray Irani bids adieu to Occidental. Occidental Petroleum Corporation's Chairman Ray Irani was ousted from his position as Chairman last Saturday by the shareholders of the firm.
Latest News
Reliance deemed as frontrunner to acquire IMG. In a report from the Indian Express, it was disclosed that the Chairman of Reliance Industries Ltd. Mukesh Ambani is in discussion regarding the acquisition of IMG Worldwide, a talent agency based in New York, according to anonymous Reliance officials.
The Special Committee of Bioniche Life Sciences responded to the request for a special meeting with a letter saying no.
Wall Street is expecting the Federal Reserve to continue implementing its stimulus program. Wall Street is urging the Federal Reserve to purchase a total of US$1.
Vinik Asset Management is set to wind up its business, according to a report from the Wall Street Journal.
LTC Properties to undertake IPO to increase its capital funds. LTC Properties is now in the midst of capital building through an underwritten public stock issue.
Dish Network bid cut up by Softbank CEO. Softbank's list of achievements in order to acquire Sprint Nextel just got shorter when it was allowed by the Securities and Exchange Commission to send out proxy materials to its shareholders regarding the upcoming vote for the said buyout transaction.
The new board elected for Stillwater Mining comprise nominees from the Clinton Group, an activist investor in the company.
Berkshire Hathaway reports record earnings for its shareholders in meeting with Warren Buffett. In the announcement during its shareholders meeting held at Omaha, Nebraska last Friday, Warren Buffett said that quarterly profit rose nearly 51% on solid performance of its investments in insurance and other businesses, together with revenues from derivatives.
Claire's Inc prepares for IPO expecting a return in the upwards of US$100 million. Claire's Inc, the private equity backed retailer of jewelry and accessories, has filed an application with government regulators to raise up to US$100 million in an initial public offering of its common shares of stock.
