In a move to comply with local regulations as well as economic slowdown in China, BBVA would be able to sell off some of its shares in CITIC.
Finance/Venture
Banks to repay ECB crisis loans
On Friday, the European Central Bank said it would receive an early repayment of loans from banks next week valued at EUR5.199 billion.
Money market fund flight occurred before passage of debt ceiling legislation in the US
About USD43 billion was pulled from the money market as investor fears of US debt crisis reached its height prior to Wednesday nights passage of much needed legislation.
HSBC unit slapped with record USD2.46 billion final judgment
A decision by US Judge Ronald Guzman put HSBC's Household International Inc liable to pay USD2.46 billion as settlement for misleading its investors.
Evidence in one case used tor LIbOR rigging suit against Barclays
Presented evidence on another case is being used as evidence to prove Barclays' hand in the recent LIbOR rigging scandal.
Latest News
HSBC Holdings would be winding down the operations of its InvestDirect Securities unit in India. HSBC Holdings would be exiting its India-based retail broking and retail depository services unit in India.
Private equity firms Carlyle Group and AlpInvestment Partners assumed the management of two fund of funds in Indiana.
Beijing Enterprises Water raised USD 145 million from selling shares to its controlling shareholder Beijing Enterprises Environmental Construction.
One Group LLC, owner of the STK steakhouse chain, would be merging with Committed Capital Acquisition Corp, said a Wall Street Journal report.
British retail giant Tesco Plc is partnering with Tata conglomerate subsidiary Trent to open stores in India.
Singapore Exchange's provisions on Asiasons Capital Ltd planned share sale may endanger the investment firm's buyout plan in Black Elk Energy Offshore Operations LLC.
Wix.com Ltd, the Israeli online provider of website management tools, chose to list in the tech oriented Nasdaq.
Managers of hedge funds said to Reuters the worry over the US government defaulting on its debt payments was not as dire as they had experienced during the days leading to the collapse of financial services firm Lehman Brothers.
Lehman Brothers' Australian creditors had approved a proposed insurance payment plan that allowed the company to receive around USD48 million.
