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Chicago bourse joins race for London Stock Exchange
Chicago Mercantile Exchange is the latest bourse that has shown interest in acquiring London Stock Exchange (LSE). Intercontinental Exchange (ICE) has already announced its intention to bid for London Stock Exchange. The merger talks on £20-billion merger plan between Deutsche Boerse and London Stock Exchange are in progress.
Wells Fargo Seeks Laughlin Successor for Merger and Acquisition Chief
John Laughlin is stepping down as the head of merger and acquisition, becoming the vice chairman of the business. Wells Fargo is now looking to replace him considering both internal and external candidates.
Saudi Arabia regains top oil exporter status to China
Surpassing Russia, the Kingdom of Saudi Arabia (KSA) has regained its lost status as top oil exporter to China in January 2016. However, China's oil imports eased during the month, while Russia suffered major drop in its exports. As a result, Saudi's market share rose to 15.9 percent highest since June 2015.
Fraudulent Oil Fund Sentenced Iranian Billionaire to Death, 2 Others
Iranian tycoon Babak Zanjani and 2 others have been convicted and sentenced to death since they are considered as "corruptor on earth" under Iran's Islamic Penal Code. They have embezzled $2.7 billion and have to pay it back.