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Sectors
Bafin Finds German Bank Directors Not Involved in Interest Rate Manipulation
Bafin, the German financial markets watchdog, clears German Bank directors of any wrongdoing. Bafin, the German financial market regulator, have not come up with any proof that the directors of the German Bank are behind the manipulation of the standard interest rates, according to a top official of Bafin that the Wall Street Journal Deutschland had spoken with over the weekend.
Telecom Italia to Float its Fixed Line Network
According to an anonymous source relayed to an Italian newspaper reported by Reuters, Telecom Italia would retain its stock on the fixed line network to prevent any takeover by Hutchison Whampoa.
Judge Orders Lifting of Seizure Order for Monte dei Paschi Investigation
Judge Ugo Bellini finds no evidence of fraud nor urgency to deem the issuance of a seizure order. An Italian magistrate has thrown out a request to issue an order to seize nearly Eur1.
The European Commission Receives Subsidy Complaint
The European Commission receives subsidy complaint against China for illegal subsidies on solar glass sold in the EU market.
Latest News
BFA earmarks Eur275 million shares for Bankia. Reuters reported today that BFA, the Spanish state owned banking group, has committed that it will spend up to Eur275 million or US$358 million on the acquisition of new shares to be released by subsidiary lender Bankia by May of this year.
Zurich Insurance Chairman Josef Ackermann says that the insurer is withdrawing from biddings as the focus is on profit growth and not volume expansion.
Youku views mobile content as platform for profits for the firm. China's largest online video company, Youku Tudou Inc. , claims that original programming and a drive into mobile content will support the company as it looks into posting its first profit since its initial public offering in 2010.
Greek Finance Minister urged the legislative body to pass the reform measures required as a precondition to the release of the Eur2.8 billion tranche of bailout funds for the country.
McClendon, after his exit from Chesapeake Energy, is now undertaking a new venture, American Energy Partners.
With the proposed US$400 billion asset ceiling and 10% equity retention limit, banks may be forced into complicated situations.
BD Diagnostics inks a distributor agreement with Bruker Daltronics Inc. In an announcement it was disclosed that BD Diagnostics inked an international distributor agreement with Bruker Daltonics Inc.
Vale SA obtains clearance to leave Rio Colorado mining project. On Friday, a company spokesperson told Reuters that the Vale SA, a global miner, has already inked an agreement with the government of Argentina allowing them to quit from US$6 billion Rio Colorado potash mining project.
The deVere Group opens its offices on the Cayman Islands. The deVere Group has recently announced the establishment of its regional office in the Cayman Islands as a signal to its presence in the area.
