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.
Legal & Regulatory
Harvard University sues over cracked bell
Harvard University has resorted to suing Chime Master Systems over a dispute over a cracked church bell a few months after the installation of a new clapper unit.
Deutsche Telekom to sell stake of Online Ad company, Scout24
Deutsche Telekom announced on Thursday that it would be selling its 70 percent stake of Scout24 to the SF-based Hellman & Friendman group while still retaining a 30 percent stake. The deal is worth 2 billion EU.
Omnicom and Publicis $31.5B merger, pushed to mid-2014
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.
Telefonica open to Merger, Acquisition and Network sharing deals in Mexico
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.
Latest News
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.
Taiwan-based Largan Precision Co has taken Samsung Electronics Co to court for patent infringement regarding its camera lens. The South Korean company allegedly used the Largan's patented lens its Galaxy Note and S series smartphones.
Desert Hot Springs on Tuesday announced that it would run out of money in March due to higher-than-expected salary and pension costs. It said that it could join other California cities that filed for bankruptcy last year.
JPMorgan Chase & Co finalized a USD13-billion settlement with the US Justice Department to end a long legal fight over the bank's risky mortgage practices that helped pull down the country's economy.
Xiao Gang, head of the China Securities Regulatory Commission, said the new reforms planned by the government on public share sales will increase the role of free market forces.
