Jersey's financial watchdog is to probe anti-money laundering systems and controls at HSBC, following a report that Europe's biggest bank was harboring money for convicted criminals.
Firm Management
Decks Cleared for Fiat Industrial, CNH Merger
Italian truck and tractor major Fiat Industrial and its U.S.-based full line agricultural and construction equipment industries firm CNH Global NV have agreed to merge, whereby Fiat Industrial will acquire 12 percent in CNH that it had not owned already.
GrainCorp Quells ADM’s $2.8 bn Takeover Bid, Expects Higher Valuation
Australia's leading grains handler GrainCorp has pushed back a $2.8 billion takeover offer from US agricultural major Archer Daniel Midland Co (ADM) citing that the bid does not reflect the fundamental strength of the grains handler.
Intel, Qualcomm Plan $300mn Investment in Ailing Sharp
Beleaguered Japanese consumer electronics maker Sharp Corp is likely to attract investments from US-based Intel Corp and Qualcomm Inc towards the end of the month.
Onex to Buy Insurance Brokerage From Goldman Fund for $2.3 Billion
Canadian private equity firm Onex Corp will buy USI, one of the largest providers of insurance brokerage services in the United States, from Goldman Sachs Group Inc's GS Capital Partners private equity fund for $2.3 billion.
Latest News
President Barack Obama's next choice to head the U.S. Federal Reserve could have his or her hands tied if Ben Bernanke and company continue to re-write the policymaking rule book at their current clip.
Goldman Sachs Group Inc is in settlement talks with the U.S. government over an $8.3 billion position that one of the investment bank's traders had concealed five years ago, according to a published report.
Bain Capital LLC, the private equity firm co-founded by defeated presidential candidate Mitt Romney, thanked its investors on Thursday for their support and patience over the last year as it confronted "political hyperbole and distortion."
Apple's much-anticipated media event to be held at 10 AM Pacific Standard Time today will be video streamed live on the company's website, apple.com, but you have to have Apple hardware to watch it, according to The Next Web.
The U.S. private equity investor FLAG Capital Management announced today that it will acquire Hong Kong-based Squadron Capital, which manages $1.5 million in assets, PRNewswire reported. Its acquisition of the private equity firm will give FLAG a presence in Asia, increasing its total assets under management to $6 billion.
Despite objections by the government, Solyndra, the California-based solar panel manufacturer that went bust in August 2011 after receiving $528 million in federal loan guarantees, received approval Monday to go ahead with its bankruptcy plan, Reuters reported.
The world's largest genealogy website, Ancestry.com, has entered a merger agreement valued at $1.6 billion in a deal led by the European private equity firm Permira funds, and co-investors, the company announced Monday in a press release posted on its website.
Goldman Sachs reported a strong third quarter this year, more than doubling its revenue to $8.35 billion, from $3.59 billion last year, exceeding the expectations of Wall Street analysts, The New York Times reported Wednesday.
In the latest coup for what was an early Internet sensation when it the scene in the mid-nineties but has more recently been waning, Yahoo Inc. has recruited a top advertising sales executive from its rival Google, Vice President Henrique de Castro, as its new Chief Operating Officer. Mr. de Castro will take the reins from another Google veteran Marissa Mayer who has been CEO and President at Yahoo since July.
