Spain's Santander plans to invest in the country's so-called bad bank in a sign that healthy domestic lenders are willing to support the entity created to clean up the aftermath of a 2008 property crash.
Sectors
HP Alleges Autonomy Wrongdoing, Takes $5 Billion Charge
Hewlett-Packard Co on Tuesday took a massive $5 billion charge, claiming a raft of improprieties, misrepresentation and disclosure failures at software firm Autonomy, which it acquired last October for $11.1 billion.
Credit Suisse Shuffles Top Executives as Merges Units
Credit Suisse said on Tuesday its private banking arm would swallow its smaller asset management unit to cut costs and announced a management shake-up that raises the profile of those jockeying to succeed its beleaguered chief executive.
Task Force Says Global Shadow Banking Hits $67 Trillion
The system of so-called "shadow banking" blamed for aggravating the global financial crisis grew to $67 trillion globally last year, a new high, amid calls from the world's top policymakers for greater control of the sector.
Australia's Billabong Director Says Weighs LBO, Shares Jump
Australian surfwear company Billabong International Ltd, which had potential buyers withdraw takeover offers last month, said on Monday one of its directors wanted to investigate a possible leveraged buyout of the firm.
Latest News
Spain's bad bank is generating a lot of interest among foreign investors, an economy ministry source said, and the government will meet with five investment banks on Monday to start the search for private capital.
Investors should brace for volatility over the next few months as U.S. politicians are unlikely to agree on a budget deal by year end, though that could lead to some good buying opportunities, Charles "Chuck" Schwab, founder and chairman of his namesake firm, said on Wednesday.
General Motors will not sell its loss-making European unit Opel or "simply close up shop and leave" it, the U.S. carmaker's Chief Executive told more than 5,000 staff in Germany.
A standoff between Hostess Brands Inc. and thousands of its bakery workers was heading for a showdown Thursday as both sides declared they would not bend and were set to accept the demise of the historic maker of Twinkies and Wonder Bread.
Beleaguered Japanese consumer electronics maker Sharp Corp is likely to attract investments from US-based Intel Corp and Qualcomm Inc towards the end of the month.
California, long the national leader in clean energy policy, is poised to double down on its investments in the sector, with billions in new subsidies set to flow in over the next few years.
China-focused private equity firm Fountainvest Partners, headed by ex-Temasek executive Frank Tang, has raised $1.35 billion in its second fund, the company said on Wednesday, defying tight fundraising conditions in Asia.
Stock markets retreated on Wednesday and a small bid for safety helped safe-haven U.S. Treasuries erase some losses as investors waited for progress in approving aid for Greece and in averting potential U.S. fiscal constraint in early 2013.
President Barack Obama's next choice to head the U.S. Federal Reserve could have his or her hands tied if Ben Bernanke and company continue to re-write the policymaking rule book at their current clip.
