JP Morgan Chase & Co, the biggest bank in the US, would cut lending to some businesses as risks confronted the bank's reputation, said a report from the Wall Street Journal.
Finance/Venture
Arab Spring repercussions reported by HSBC
HSBC issued a comprehensive report as to the effects of the Arab Spring with the Gulf countries' economies.
QInvest focuses on business strengths with new CEO
Under the leadership of CEO Tamim Al-Kawari, QInvest would move away from its non essential businesses to focus on buyouts and buyins for Qatari companies.
US Senator McCain: US deadlock halts military death benefits
US Senator John McCain angrily stated that US lawmakers should resolve differences to end the US partial shutdown that caused a halt in military death benefits, according to a Reuters report.
Mexico pushes for US to raise debt ceiling
On Tuesday, Finance Minister Luis Videgaray said that Mexico had urged the United States to reach an agreement to raise the nation's debt limits to avoid a possible default that could ruin the international reputation of the country.
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Pamlico Capital closed Pamlico Capital III with USD 650 million in an oversubscribed round. Pamlico Capital announced it was able to close Pamlico Capital III with USD 650 million.
Sources told Bloomberg that Power Asset Holdings had approached banks for a USD 4.8 billion loan. Power Asset Holdings Ltd had been seeking a USD 4. 8 billion or HKD 37.
Michael Smith, current Australia and New Zealand Bank CEO, in an interview with Bloomberg's Susan Li said Hong Kong is the stepping stone towards China.
A report released by the National Venture Capital Association showed a record USD4.1 billion was raised by 54 venture capital firms in the past 12 months.
In an announcement today, former executives of Finam Global launched Flint Capital, a USD30 million fund that is focused on placing investments in Internet and innovative hardware startups.
Country Garden Holdings Co. had suspended its share trading on the Hong Kong Stock Exchange after the Hong Kong Economic Journal said that the company had leaked home subscription data through a staff memo.
Japan and China, two of the biggest US foreign creditors, had expressed their concerns regarding the partial US shutdown, said a Bloomberg report.
Monte Paschi would cut more jobs to be able to secure a state bailout fund from the European Union, said a Bloomberg report.
Morgan Stanley along with Bank of America Corp and Wells Fargo & Co. would lead the six biggest lenders in the US banking sector, said a Bloomberg report.
