JPMorgan Chase has filed an application for a payment system that is similar in many ways to the controversial Bitcoin, according to a Financial Times report.
Investment banks
Goldman Sachs grants $120 million pre-IPO loan to Chinese warehouse firm
Investment bank Goldman Sachs Group will provide a $120 million loan to Warburg Pincus-backed warehouse firm e-Shang. e-Shang reportedly plans to go public in the next few years.
JPMorgan forecasts 30% rebound in mergers and acquisitions in Asia for 2014
JPMorgan Chase & Co predicts a rise in the value of M&A deals to 30% it expects to handle in Asia next year, according to a Bloomberg report.
UBS to enter Australian property market through joint venture with local developer
Switzerland's biggest bank, UBS AG, will be entering the property market in Australia through a joint venture with local developer Grocon Pty, a Bloomberg report said.
As Fed looms, Morgan Stanley sets sale of US oil terminal business
Morgan Stanley has launched a formal effort to sell its controlling stake in U.S. oil terminal and transport business TransMontaigne, four sources said on Wednesday, following other Wall Street powerhouses in yielding to intense regulatory pressure to get out of commodity investments.
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Tomkins Ltd. has began the process for an exit deal that could bring in at least USD6 billion to the British manufacturer. It reportedly hired Goldman Sachs Group to advise on its proposed sale or listing.
WMI Holdings Corp. today announced that KKR & Co. L.P. has entered into a conditional commitment letter to make a strategic investment in the Company, dated December 8, 2013.
Switzerland's third largest wealth manager Julius Baer Group Ltd said it has already acquired the Middle Eastern wealth management units of Merrill Lynch located in Lebanon, Bahrain and the United Arab Emirates.
Bankers told the Financial Times that the news of HSBC's planned spinoff of its UK unit logically follows the ringfencing requirements that will be part of the UK Banking Reform Bill about to be passed through the British parliament.
Bob Diamond, the former Chief Executive of Barclays, will be returning to banking by listing a company that will be investing in the African financial sector, a source interviewed by Reuters said.
With the revival of initial public offerings, Australian bankers have many things to be happy for as underwriting fees also surge, according to a report.
US District Judge Mariana Pfaelzer gave final approval to the USD 500 million class action settlement between Bank of America's Countrywide unit and its investors.
Britain's Barclays PLC, Japan's Nomura and the Royal Bank of Canada are leading the loan financing for Hellman & Friedman LLC's buyout of Scout24. The classified advertising business will be bought for EUR700 million in debt funding.
Former Goldman Sachs Group Inc trader Matthew Taylor was given a prison term of nine months for concealing an unauthorized USD 8.3 billion trading position in 2007.
