Bank of America will dissolve Merrill Lynch & Co. but will continue to keep name. Four years after it was acquired by Bank of America Corp. , Merrill Lynch & Co.
Investment banks
Greece recession remains critical
Greece's economy still critical despite slight improvement. Greece's economic recession was marginally reduced in the second quarter of this year when the economy shrank at only 4.
Athens economy continues to falter at 4.6% in second quarter
Greece's economic growth rates continues to slow down despite bailouts. In its sixth uninterrupted year of recession,Greece is still far from recuperating from an economic slump .
Financial sector near to recovery of S&P top spot
Studies by financial analysts indicated that the banking sector is recovering and may regain top spot on S & P.
UBS appoints Chris Hagstrom head of prime brokerage in U.S.
Chris Hagstrom was appointed head of prime brokerage for the U.S. by Switzerland's largest bank, UBS.
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Bank of America Corp reported about USD1.5 billion were added by investors into funds that purchase leveraged loans in the U.S.
Goldman is reportedly leading in the race with Morgan Stanley to acquire largest share of Huarong's stock sale.
Deutsche Bank AG increases structured notes deals bound to Agricole Credit according to a report by Bloomberg.
UBS can now exercise option to repurchase assets from the Swiss National Bank after paying off its bail out loan.
Sources said Hilton Worldwide was preparing for a debt refinancing package worth USD 12 billion before its IPO next year.
Chile's BCI would ask its shareholders to approve its USD 400 million capital hike to partly fund its acquisition of City National Bank.
Two sources told Reuters that Barclays was mulling the sale of its UAE retail banking operations. Two sources told Reuters that Barclays is considering a sale of its retail banking business in the United Arab Emirates (UAE).
A newspaper reported that British bank Lloyds Banking Group received bids for its Australian businesses.
Groupama sold its last stake in SocGen for EUR 517.8 million. French insurance company Groupe des Assurances Mutuelles Agricoles (Groupama) finally sold its remaining 1.
