JPMorgan Chase has filed a case against the Federal Deposit Insurance Corporation in a bid to recover more than a billion dollars from the government agency which managed the receivership of Washington Mutual.
Legal & Regulatory
Investigators say overseas hackers responsible for Target cyber attack- source
Investigators think that overseas hackers were responsible for the cyber attack that compromised 40 million payment cards of Target Corp, a US retailer, Reuters reported.
Constar International Holdings, which lost its contract with PepsiCo last year, filed for its third bankruptcy in a bid to complete the sale of the company
Constar International Holdings, which lost its contract with PepsiCo last year, filed for its third bankruptcy since 2008. Constar filed for Chapter 11 protection as it hopes to nail down its sale to Amcor Rigid Plastics USA.
RBS bans use of multi-dealer online chat rooms
In response to investigations from regulatory authorities, the Royal Bank of Scotland has banned its markets division from using multi-dealer online chat rooms, Reuters reported.
Bloomberg report says Jack Ma, Zhang Jindong poised to shake up China's wireless market
A Bloomberg report said Jack Ma and Zhang Jindong may be allowed to create phone companies in China with the possible issuance of their licenses this month.
Latest News
The probe of the European Union involving an underwater power cable cartel is a test of the regulators' ability to penalize private equity investors and their parent firms, Bloomberg reported.
As talk about the US Federal Reserve tapering grows, a Financial Times report said markets are now more prepared should a reduction in asset purchases actually become a reality.
Three of the four largest claims against the US estate of bankrupt telecoms company Nortel Networks Inc has been resolved, reducing the bills the estate needs to settle by by $5.14 billion, said a Reuters report.
UK-based lender Barclays denied allegations that it manipulated electricity prices in California. It asked the the court to stop the US Federal Energy Regulatory Commission from collecting fines.
Canadian dairy firm Saputo Inc, following a probe by Australia's Takeover Panel, said that it will raise and extend its takeover offer for Warrnambool Cheese and Butter Factory Holdings Co.
US District Judge Robert Sweet ruled that Nasdaq OMX Group Inc needs to face the cases filed against it by investors who claimed that the exchange platform was responsible for the bungled Facebook IPO, Reuters reported.
The Delaware Supreme Court on Monday dismissed Cooper Tire & Rubber Company's appeal against an earlier court ruling favoring Indian tire maker Apollo Tyres Ltd. The two companies went on trial in November over the stalled merger deal.
US antitrust regulators gave the green light to Gannett Co. Inc.'s $1.5 billion purchase of Belo Corporation as long as the deal excludes St. Louis television station KMOV-TV.
To follow the requirements of the Volcker Rule, Citigroup Inc sold private equity unit Metalmark Capital, Bloomberg reported. The terms of the deal were not disclosed.
