VENTURE CAPITAL POST

The US stocks turn attractive on lower PE ratios. The latest market crash might have eroded $2.1 trillion value in the market capitalization in the US stock markets, but equities are no more overpriced as price-to-earnings (PE) ratios turn attractive. According to ConvergEx, after the recent 10 percent drop in the US markets, no one can say that American stocks are expensive.

Secret contracts, covert real-estate deals, scurrying around after nightfall to avoid detection: this is how far big-bank brokers are prepared to go when they plan to go independent.

The surging value of the U.S. dollar may be posing the biggest threat to U.S. corporate earnings since the 2008 financial crisis, hurting results at most U.S.-based multinationals. Some on Wall Street are even talking about an earnings recession.

In the weeks leading up to the U.S. Federal Reserve's annual stress test of major banks, a former risk executive of Deutsche Bank AG repeatedly warned senior managers of the German bank's U.S. unit that they were painting a far too rosy picture of the bank's health.

AdvisorHUB, a year-old gossip and news website for the brokerage industry, has become such a part of brokers' daily reading routine that some call it the "New York Post of financial news."

At a retreat for Merrill Lynch financial advisers in a luxury Orlando hotel last month, a group of several dozen men and women in business attire swung their arms back and forth over their heads to Kid Rock's "All Summer Long" to get their circulation going.

U.S. TV startup Roku Inc is working on plans to confidentially file for an initial public offering, the Wall Street Journal reported, citing people familiar with the matter.

Bank of America Corp (BAC.N) said it named Chief Executive Brian Moynihan as chairman of its board, effective immediately. He succeeds Charles "Chad" Holliday, the former chief executive of the chemical company E.I. du Pont de Nemours and Co (DD.N), who served as the bank's chairman for more than four years.

The four biggest U.S. brokerage firms are facing an exodus of employees who are finding they can make more money and save on taxes by taking their clients and starting an independent firm before they retire.

The Office of the New York Attorney General will continue with the lawsuit without claim to damages it lodged against Bank of America over its 2009 purchase of Merrill Lynch, Bloomberg reported.

South Korea-based investment fund Korea Investment Corp (KIC) is considering selling a $1-billion stake in Bank of America after the latter's value halved since 2008, according to a report by Korean media.

As far as investment banking fees go, Bank of America outperformed JPMorgan Chase & Co since it acquired Merrill Lynch & Co in 2008, Bloomberg reported.

The creator of the Cash Management Account which drove Merrill Lynch & Co to become a full-service financial provider passed away after years of battling Alzheimer's disease.

Switzerland's third largest wealth manager Julius Baer Group Ltd said it has already acquired the Middle Eastern wealth management units of Merrill Lynch located in Lebanon, Bahrain and the United Arab Emirates.

Australia-based mining logistics firm BIS Industries is buying industrial transport company Powertrans for USD30 million in a debt-funded transaction which will be finalized in January.