Judge Katherine Forrest dismissed the lawsuit filed by investors led by two pension funds against UBS, which accused the bank of fraud regarding the latter's risk management practices, Bloomberg said.
Country
Louisiana Sheriffs' Pension and Relief Fund sues IBM over NSA cooperation
The Louisiana Sheriffs' Pension and Relief Fund sued IBM for its cooperation with the National Security Agency over a spying program that allegedly hurt investors, Bloomberg reported.
Coca-Cola splits its US businesses, analysts at odds with decision
Coca-Cola Co's decision to split its bottling division and franchising unit had elicited mixed reactions from analysts and the financial markets. Coca-Cola Co reasoned that it intends to go back to its traditional franchising model after the separation has been completed.
Court approves asset sale of Hospitality Staffing Solutions to HS Solutions Corporation
Hospitality Staffing Solutions said it had obtained approval from the court to sell its assets to HS Solutions Corporation. Financial details about the deal were not disclosed.
Verizon nears deal to buy Intel's Internet-based pay-TV service
Intel Corp., the world's largest chipmaker, has put up for sale its Internet-based pay-TV startup OnCue. Telecom company Verizon Communications Inc. is said to be nearing a deal to acquire OnCue.
Latest News
Bidders William Morris Endeavor, ICM Partners and a consortium led by former News Corporation executive Peter Chernin are expected to submit their takeover offers for IMG Worldwide on Friday. New York Times said that William Morris will likely emerge as top bidder for the sports agency.
Dallas-based restaurant and arcade operator Dave & Buster's is looking to exit from the company through a sale or an initial public offering. Dave & Buster's is controlled by private equity firm Oak Hill Capital Partners.
According to the South China Morning Post, the growing popularity of the Bitcoin has also led to a boom of sorts in bitcoin software for smartphones, the South China Morning Post reported.
A Nielsen study showed that Asian American households spend more than US households by an estimated 19%. They were also the top online shoppers. the South China Morning Post reported.
United Spirits could raise as much as £675 million ($1.1 billion) in the sale of Whyte & Mackay Scotch if it will include single malt Dalmore. Sources estimate that Whyte & Mackay's exit, excluding Dalmore, is worth £450 million.
A report said merger and acquisition transactions fell in the Asia-Pacific region caused by a slowing in the energy and raw materials sectors.
Pharmaceutical company Ikaria Inc. is seeking an exit reportedly worth $2 billion. Private equity firms American Securities LLC, GTCR LLC and Madison Dearborn Partners LLC have tendered their bids to acquire the American specialty drug manufacturer.
A letter written by state securities regulators asked US Securities and Exchange Commission Chair Mary Jo White not to erode their power to police smaller public offerings, Reuters reported.
Italy's state backed Fondo Strategico Italiano (FSI) and private equity firm CCMP Capital are leading the race to secure a minority stake in Italian luxury goods group Versace.
