The antitrust regulator of Brazil has instructed Telefonica to bring down its influence in the country's telecommunications business either by reducing its holdings or convincing Telecom Italia to sell its local unit.
Legal & Regulatory
BoFA, investors agree on settlement regarding municipal bond-rigging
Investors including the Bucks County Water & Sewer Authority in Pennsylvania, the city of Baltimore and the Central Bucks School District agreed to settle the municipal bond-rigging case it filed against Bank of America Corp.
Bankrupt Detroit's art assets value up to USD866 million - Christie's
Auction house Christie's said the value of the 2,781 works collection fully and partially-owned by the Detroit Institute of Arts (DIA) was around the USD452 million to USD866 million range.
China gives green light to USD1.3 billion Dongfeng-Renault joint venture
The Chinese government on Thursday cleared the USD1.3 billion car-making joint venture between Dongfeng Motor Group and France's Renault. Under the deal, the two companies will manufacture 150,000 multi-purpose vehicles annually.
Eversheds combines with South African, Tunisian law firms for African expansion
International law company Eversheds expands in Africa through partnerships with Mahons Attorneys in South Africa and El Heni in Tunisia. Both firms will be rebranded as Eversheds.
Latest News
The Financial Supervisory Service of South Korea told Bloomberg it plans to punish the local unit of Wall Street firm Goldman Sachs Group Inc for breaking rules on the sale of financial products.
In a 254-159 vote, the US House of Representatives passed a legislation exempting private equity firms from provisions in the 2010 Dodd-Frank Wall Street Reform Law. However, a similar action is not expected from the Democrat-dominated US Senate.
A federal judge's ruling Tuesday that Detroit is eligible for bankruptcy protection offers municipal bond investors a dose of clarity that could be welcome news at the end of a rough year for the U.S. muni debt market.
Repsol Chairman Antonio Brufau insisted on Tuesday that the government of Argentina should offer a compensation package that will convince the Spanish oil firm to settle the expropriation of its stake in energy firm YPF.
An unnamed private equity insider filed a complaint with the US Securities and Exchange Commission claiming that private equity firms KKR, TPG and Goldman benefited from the leveraged buyout of Texas-based utility TXU by acting as unlicensed brokers and collecting massive transaction fees in the process.
Latin America's largest investment bank, Grupo BTG Pactual, has applied with the commercial licensing bureau of Michigan to manage a commodities warehousing business in the US.
Industry executives and academics said mandatory budget cuts or sequestration have led to job losses and could eventually undermine the competitiveness of the US in the global economy, a Reuters report said.
The Federal Trade Commission in a statement said the US government approved Microsoft Corp.'s acquisition of Nokia's mobile phone business on November 29. The European Union is set to decide on the matter on December 4.
India's Foreign Investment Promotion Board has given the green light to Hennes & Mauritz's (H&M) INR7.2 billion (USD115 million) investment. The Swedish retail-clothing company looks to open 50 stores in India.
