Lehman Brothers, once Wall Street's larger banks, has announced its payout to creditors after its emergence from bankruptcy protection.
Finance/Venture
Lower Offer for Commonwealth REIT Made by Activist Investors
Keith Meister's Corvex Capital and Related Cos has withdrawn their original US$27.00 per share offer and lowered it to US$24.50 per share offer.
Credit Suisse Agrees to Sell JO Hambro to Bermuda National for 50 Million Pounds
Credit Suisse, the second-largest banker in Switzerland, has signed an deal to sell British wealth manager JO Hambro Investment Mangement Ltd. to investment company Bermuda National,
Russia's VTB Completes Tele2 Buyout
Banker VTB has successfully acquired the Russian operations of Swedish telecoms operator Tele2 as it hopes for potential investors.
QInvest Opens Range of Islamic Funds
QInvest to launch new Islamic funds not just for GCC consumption but for the world as well. QInvest, the investment bank with majority shareholdings owned by Qatar Islamic Bank, announced that it would plan to launch at least thirty Islamic funds in the next three years.
Latest News
Allianz SE has acquired the largest insurer in Turkey for US$879 million. Europe's largest insurer Allianz SE has acquired Yapi Kredi Sigorta AS for the amount of Eur684 million or US$879 million.
Credit Suisse has purchased the wealth management arm of Morgan Stanley. Morgan Stanley's wealth management subsidiary is being bought out by Credit Suisse.
American Realty said it has decided to increase its bid offer for Cole Credit Property Trust III after the latter's rejection of the first offer.
Credit Suisse will be acquiring the wealth management of Morgan Stanley in Africa, Europe and the Middle East
UK's Financial Services Authority (FSA) has fined Prudential 30 million pounds for hiding its attempt to buy Asian rival AIA three years ago.
The China Banking Regulatory Commission issued guidelines on the proper handling of wealth management instruments.
Protective Life is the leading buyer for assets of AXA Life amounting to US$1.5 billion. American insurer Protective Life Insurance is the frontrunner in the purchase of picking up AXA SA's life insurance assets.
With the warrants it holds, Warren Buffett can become the largest shareholder of Goldman Sachs. Berkshire Hathaway passed on a golden opportunity to become the largest shareholder in Goldman Sachs Group Inc.
HSBC winds up Hermitage Fund. HSBC Holdings Plc has closed down Hermitage Capital Management and its Russia Fund. The fund's co-founder, William Browder, is now facing charges of libel in London and concurrently being tried in Moscow for tax evasion.
