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.
Sectors
New amendments to pending Volcker rules may postpone implementation
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.
E*Trade Financial divests market-making unit to Susquehanna International Group
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.
Former Apple CEO explores joint bid for BlackBerry- report
A report from Canadian newspaper Globe and Mail said that John Sculley, a former Apple CEO, was mulling a possible bid for BlackBerry.
ING US Inc sale raises USD 974 million for parent ING Groep
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.
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Brazil sold dollar bonds amounting to USD 3.2 billion set to mature in 2025 and established a new benchmark in international markets.
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.
The amount of USD3.3 billion is the price tag for the JPMorgan commodities business unit required from the bidding firms, such as Grupo BTG Pactual.
Ian Dunlop, climate change advocate, is being campaigned against by no less than the BHP Billiton chairman for board director in the mining firm.
Shares of Safeway Inc increased by almost 9% after buyout reports started to circulate. Shares of supermarket chain Safeway Inc increased after reports that a private equity firm-led buyout was in the works.
Peugeot weighing options between a cost cutting partnership with GM or an expansion push with Dongfeng.
The earnings before interest, taxes, depreciation and amortization for Orange SA declined as both sales revenues and share prices also declined.
