Morgan Stanley will shift the way advisers in its wealth management business are paid next year, cutting bonuses tied to the amount of revenue they bring in and rewarding them instead for growing assets and loans.
Finance/Venture
MegaFon Picks Stake in Euroset for $1.07 Billion, Gains Joint Control with VimpelCom
MegaFon, Russia's second biggest mobile operator, has acted swiftly to pick a stake in cellphone retailer Euroset which operates 5,500 stores across the country and Belarus.
Thailand's CP Group Picks HSBC Stake in Ping An Insurance
Thailand's Charoen Pokphand (CP) Group, controlled by the country's richest man Dhanin Chearavanont, has taken over global bank HSBC's 15.6 percent stake in China's Ping An Insurance, one of world's largest insurers.
Blackstone to Buy Dutch Tax Consultancy Intertrust for $883 Million
Tax consultancy in The Netherlands is seemingly on the upswing in view of a greater number of corporates seeking to establish their European holding companies in the EU member country because of its many bilateral tax agreements with other nations to prevent double taxation. Against this backdrop, US private equity firm Blackstone Group LP has decided to buy Dutch tax consultancy Intertrust from Dutch private equity firm Waterland for a reported $883 million (675 million euros).
AIG to Sell 90 Percent Stake in ILFC to Chinese Consortium for $4.8 Billion
US insurer American International Group Inc (AIG) has decided to sell 90 percent of its stake in ILFC, the world’s largest aircraft leading business, to a Chinese consortium –comprising New China Trust, which is one-fifth owned by Barclays Plc, China Aviation Industrial Fund and P3 Investments Ltd -- for a total consideration of $4.8 billion. An arm of Industrial and Commercial Bank of China will join the consortium once the deal has regulatory approval.
Latest News
Shares of Apple Inc tumbled nearly 4 percent on Wednesday, rounding off a bleak ten weeks for the most valuable U.S. company, with analysts citing factors such as increasing competition in the tablet market.
American International Group Inc shuffled the management of its mortgage insurance unit for the second time this year, naming a new chief executive for United Guaranty and moving the prior CEO to a senior underwriting position.
Stocks fell on Monday, with the S&P 500 and Nasdaq erasing early gains as disappointing U.S. factory numbers curbed optimism spurred by positive data on China's economy.
American Airlines' bankrupt parent has asked a judge to extend by six weeks, through March 11, the period in which it has the exclusive right to propose a plan to exit bankruptcy.
Boeing Co on Thursday asked for the aid of a federal mediator in contract talks with the union that represents its engineers, citing significant differences on pay and benefits.
JPMorgan Chase & Co sees a strong government presence in Brazil as a source for new business leads, a senior banker said on Thursday, highlighting the growing clout of the nation's public sector as an investment-banking client.
The U.S. government is threatening to file civil securities fraud charges against SAC Capital Advisors and is tightening the regulatory screws around Steven A. Cohen, the $14 billion hedge fund's founder and one of the industry's most famous traders.
Long-time suitor ConAgra Foods Inc finally sealed a deal to buy private-label foods maker Ralcorp Holdings Inc for $5 billion, to tap into the booming business for packaged food that stores sell under their own brands.
The Congress advanced by inches on Tuesday toward compromise on taxes and spending, but a firm deal to avert the "fiscal cliff" at the end of the year still seemed miles away, despite growing pressure from business interests for action.
