Commerzbank is anticipating opportunities to expand its wealth management business after Swiss Credit Suisse Group sold its private bank in Germany to Bethmann Bank last month.
Investors
Google buys Bitspin's Timely clock app
Tech giant Google has purchased Timely, the alarm clock app created by BitSpin, for an undisclosed sum, making all its versions including the upgraded one, completely free.
Bond mutual funds, ETFs record $34B in outflows for December- TrimTabs
Data from TrimTabs Investment Research showed that US-listed bond mutual funds and exchange traded funds or ETFs posted outflows of $34 billion in December, Reuters reported.
Israel's Fortissimo takes one-third stake in One Hour Translation for $10M
Israel-based private equity firm Fortissimo Capital has bought one-third of online professional document translation services provider One Hour Translation in a deal valued at $10 million.
Indonesian pension fund intends to bolster equity, bond holdings
The state-owned pension fund of Indonesia plans to boost its holdings in equities and bonds this year in order to improve the company's earnings, Bloomberg reported.
Latest News
Alitala, Italy's flag carrier, has written to Italian banks UniCredit and Intesa Sanpaolo asking to extend an existing loan agreement by €50 million. This comes on top of the €200 million in bank loans agreed on in October.
JPMSL Copthall Mauritius Investment Ltd. has acquired a little over 1% stake in Cox & Kings by buying 6,84,216 shares on Friday and 8,13,172 shares the day before. Shares in Cox & Kings closed at INR136.15 apiece on Friday's trading.
GlaxoSmithKline has asked for the approval of India's Foreign Investment Promotion Board for its planned acquisition of a 24.33% stake in its Indian arm GlaxoSmithKline Pharmaceuticals Ltd. GSK will fund the stake hike by investing INR6,400 crore.
A Mississippi bankruptcy judge on Friday approved the sale of bankrupt car rental company Advantage Rent A Car to Canadian private equity firm Catalyst Capital Group.
The Permanent Court of Arbitration in The Hague, Netherlands has pushed back an arbitration claim hearing involving Chevron Corp. and Ecuador to February. Chevron was indicted for environmental damage done in Amazon by Texaco.
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.
Philadelphia Inquirer owners George Norcross III and Lewis Katz, who are at odds over the management of the newspaper company, are pushing it back to the auction block a few years after emerging from a bankruptcy.
Some investors say that Marc Bolland, the head of retailer Marks and Spencer will come under renewed investor pressure if the Christmas and New Year sales figures next week disappoints, a Financial Times report said.
Malaysian firm Cahya Mata Sarawak has agreed to work with various companies to build the first integrated phosphate facility Southeast Asia, the Daily Express reported.
