The scheduled $35.1 bilion tie-up of both advertising giants Omnicom and Publicis, would be pushed to mid-2014 as the latest date, as announced by both Chief Executives on Thursday.
Legal & Regulatory
SEC ex-chief says dual share law has additional safeguard measures
In order to protect shareholder's interests, U.S. allows companies to have dual share structures but with additional safeguard measures as the Securities and Futures Commission last month declined to provide a waiver to Alibaba to nominate a majority of directors from its 28 partners.
$800M settlement over Madoff Funds falls apart
A USD800 million settlement between feeder fund Kingate Management and bankruptcy trustee Irving Picard has collapsed. The Justice Department ruled out feeder funds from payouts out of the USD2.35 billion Madoff Victim Fund.
Federal judge approves Jefferson County plan to end bankruptcy
Judge Thomas Bennett of the US Bankruptcy Court in Birmingham, Alabama approved Jefferson County's debt restructuring plan to exit bankruptcy after a 14-hour hearing on Thursday, November 21.
Jefferson County, Wall Street creditors agree on revised terms to end bankruptcy
Officials of Jefferson County in Alabama said it had arrived at a new agreement with its Wall Street creditors that would pave the way for its exit from its USD 4.2 billion bankruptcy.
Latest News
Spanish telecom group, Telefonica, announced on Thursday that it was open to talks about mergers, acquisitions and deals to share its networks in Mexico in order to streamline its operations.
Catalyst maker Johnson Matthey beat its own expectations with a 13-percent rise in profit, lifted by tighter European rules on emissions due to come into force in January.
Billionaire and IAC/InterActiveCorp Chairman Barry Diller said Aereo Inc may get as much as 35% of US households to use its service once it overcomes the lawsuits filed against it by broadcasters.
The city of Detroit has paid around USD23 million in fees to lawyers, consultants and financial advisers as it awaits a court decision determining its eligibility for bankruptcy protection from creditors.
Reforms made in the financial services industry through the retail distribution review or RDR implemented in January by a UK regulator has brought private equity to the arms of wealth managers, according to a report from Citywire.
The US Treasury Department will meet with the banking industry in December to give guidelines on how to deal with marijuana businesses in states that have legalized marijuana use.
The potential sale of the indices platform of Barclays, which includes the Barclays US Aggregate Bond Index, came at the heels of an approach by MSCI, an equity index provider, to acquire the index business.
Prior to meeting with UK's Members of the Parliament regarding claims that Royal Mail's shares in its initial public offering were undervalued, UBS issued a note to investors saying that they need to divest their shares in the postal service.
Sources told Bloomberg that the planned stock sale of India's top two mobile phone operator had postponed its original target completion this month, and was pushing for a stock sale next year.
