A total of USD13 billion is to be paid out by JPMorgan under the tentative settlement agreement forged with US authorities related to mortgage backed securities.
Firm Management
Northern Beef Packers sets minimum price for assets
Northern Beef Packers, which had filed Chapter 11 bankruptcy, sets USD12.75 million minimum bid for its assets.
Alico heirs to sell off shares
Two agribusiness firms scramble to purchase shares in Florida citrus grower Alico. The heirs of Ben Hill Griffin Jr have sold off their shares in the market leading Florida based citrus company.
Business by Design to wind down - SAP
According to German software giant SAP, its Business by Design module for small and medium businesses would not be further developed but current users can still utilize its online services.
Pope Francis sits down with ECB head Mario Draghi
Pope Francis meets with ECB President Mario Draghi for unspecified matters. The head of the Roman Catholic Church, Pope Francis, had held discussions with European Central Bank President Mario Draghi during a private audience held last Saturday.
Latest News
According to banking sources, the Financial Times said the IPO of UK's Royal Mail was underpriced.
Bernie Madoff's sons were vindicated for the civil case over the properties of their father in the UK.
The Chairman and two other senior executives of China Solar Energy Holdings Ltd were arrested by Chinese authorities.
Lia Forcina, Alidod Shirinbekov and John Levavasseur left SAC UK for greener pastures. SAC Capital Advisors LP's Lia Forcina had managed over USD700 million during her stint in the firm.
Bondholders were sought protected by Mario Draghi through the European Central Bank. The European Central Bank head Mario Draghi informed the European Commission last month requesting that bondholders be spared any losses in the event a bank rescue occurs until such time an EU banking union is put in place.
The CEO of India's largest commodities bourse quit his job as CEO. Last Saturday, the Multi Commodity Exchange of India Ltd had announced its Managing Director and CEO Shreekant Javalgekar had formally submitted his resignation from the company.
Fresh investments were promised by BP and Reliance Industries in oil and gas. The top executives of BP and Reliance Industries, CEO Bob Dudley and Chairman Mukesh Ambani respectively, jointly promised fresh investments worth up to USD10 billion in oil and gas.
Dubai Land Department's managing director announced the launch of its e-Market website during the GITEX Information and Technology Exhibition.
US retailer Walmart fired and then gave an employee his job back after he helped woman who was assaulted in a company store parking lot.
