Industry
US auto makers rebound as sales hit 15.5M vehicles
2013 had been the best sales year for the auto industry as US consumers bought 15.5 million vehicles. Ford Motor Co., Honda Motor Co. and Chrysler Group posted single-digit percentage gains, while General Motors Co. and Toyota Motor Corp. sales declined.
America's top five banks control a total of $6.46T in assets -report
Financial information provider SNL Financial in a report said that the five largest lenders in US control 44.2% of the industry's assets. JPMorgan Chase & Co, Bank of America,Citigroup,Wells Fargo & Co, and US Bancorp have a total of $6.46 trillion in assets.
China promises more support for embattled solar power industry- report
China said it would give more support to the domestic solar power industry as the government seeks to revamp a sector that is plagued with overcapacity and lower prices, Reuters reported.
Global private equity fundraising reaches $431B in 2013
The private equity industry worldwide was able to reach $431 billion in fundraising last year, an increase of 13% from the funds raised in 2012, a Preqin study revealed.